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Commercial Vehicle Insurance

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Mandatory Coverage, Maximum Savings. Get a Quick Quote for Trucks, Taxis, Vans & Fleets.

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Commercial vehicle insurance illustration

What is Commercial Vehicle Insurance?

Commercial Vehicle Insurance is a contract that covers any vehicle used for business like trucks, taxis, or vans. It is required by law (Third-Party Liability) to ensure you can legally use public roads, and it is important because the optional Comprehensive cover protects your business's own vehicle and cargo from huge financial losses due to accidents, theft, fire, floods, and vandalism.

Types

Types Of Commercial
Vehicle Insurance Policies

Third Party Policy

  • •This is the minimum coverage legally required by law (under the Motor Vehicles Act).
  • •It financially covers injury, death, or property damage that you cause to others.
  • •It does not pay for any damage or repairs to your own commercial vehicle.

Comprehensive (Package Policy)

  • •This is the most complete coverage, combining the mandatory Third-Party cover with "Own-Damage" cover.
  • •It offers maximum financial security and peace of mind for your business assets.

What it covers:

  • •Third-Party Liability (same as on the left).
  • •Own-Damage: Covers the cost of repairing or replacing your own vehicle if it's damaged in an accident, fire, natural disaster (like flood or earthquake), or if it is stolen.

Note

You can also customize the Comprehensive policy with extra protections called Add-ons (like Zero Depreciation, Roadside Assistance, or Engine Protection).

Vehicle Types

Types Of Commercial
Vehicle Insured

Commercial Vehicle Insurance covers a wide range of vehicles used for goods and passengers classified according to CMVR/MoRTH categories. These classifications affect insurance rates for third-party and own-damage coverage.

Goods carrier illustration

Goods Carriers

Includes light, medium, and heavy trucks like LCV/MCV/ HCV rigid trucks, pick-ups, tippers, tankers, delivery vans (GVW-based classification).

Passenger carrier illustration

Passenger Carriers

Covers Taxis/cabs (including ride-hail), tourist buses, school/staff buses, ambulances, auto/e-rickshaws.

Special purpose vehicle illustration

Special Purpose

Includes Cash vans, breakdown/recovery vans, and other notified special vehicle categories.

EV CNG LPG vehicle illustration

EV, CNG, LPG

Alternative fuel vehicles are insured under their respective transport classes with pricing based on vehicle class and usage.

Coverages

Coverages In Different
Insurance Policies

FactorsTPODCompZero-Dep
Third-Party injury/death
Yes
No
Yes
N/A
Third-Party property damage
Yes
No
Yes
N/A
Damage to own vehicle (accidents, fires, riots, floods, natural calamities)
No
Yes
Yes
N/A
Theft of vehicle
No
Yes
Yes
N/A
Personal accident cover for driver/owner
Yes
Yes
Yes
Can be added
Passenger cover (buses, taxis, autos)
No
No
No
Yes
Zero depreciation cover
No
No
No
Yes
Roadside assistance
No
No
No
Yes
Engine protection
No
No
No
Yes
Premium CostLowestMediumHigherAs per add on

Calculate Your CV Premium Online

Enter the registration number to fetch vehicle details, compare IDV, TP/Comprehensive, and add-ons; then view the premium. Premium depends mainly on IDV, vehicle class/CC/tonnage, age/location, NCB, and chosen add-ons.

Factors

Factors Affecting YourCommercial Vehicle Premium

Your commercial vehicle premium mainly depends on the IDV, the vehicle's class/engine/GVW or seating, age & location risk, and your NCB history, plus any add-ons you choose.

Insured Declared Value (IDV)

The market value of your vehicle used to price Own-Damage (OD) coverage and to settle Total Loss claims. For vehicles older than ~5 years or obsolete models, IDV is mutually agreed between insurer and insured.

Vehicle Class / Engine / Tonnage

TP rates and OD exposure vary by GVW/cc/seating and usage (goods carrier vs passenger carrier). That's why quotes ask for GVW/CC/seat capacity and body type: TP schedules are notified by MoRTH/IRDAI

Age & Location

Older vehicles have premium due to depreciation. Vehicles used or parked in high-risk areas (accident or theft prone) may also attract higher costs and recommended add-ons.

No Claim Bonus (NCB)

Discount on own-damage premium for claim-free years, ranging from 20% up to 50%, as per IRDAI guidelines (does not apply to third-party insurance).

Benefits

Key Benefits Of Buying/RenewCommercial Vehicle Insurance Online

Buying or Renewing your commercial vehicle insurance Online saves time, ensures compliance, and lets you compare real premiums and coverage before paying.

Legal compliance

Third-party (TP) insurance is compulsory under the Motor Vehicles Act.

Protects business assets

Comprehensive policies cover accident, theft, fire, flood, and riot damage.

Speed and Convenience

Digital processes mean no paperwork or branch visits.

Cashless claims

Access to network garages reduces downtime.

Inclusion / Exclusion

What Is Included And Excluded In Commercial Vehicle Insurance?

Commercial vehicle insurance covers third-party losses and own-damage risks such as accidents, natural disasters, and theft, with a few exclusions stated in the policy.

Covered Events:

  • •Third-party injury, death, or property damage
  • •Accidents, collisions, and overturning of the vehicle
  • •Fire, explosion, lightning, or self-ignition
  • •Theft, burglary, or malicious acts
  • •Flood, cyclone, earthquake, or landslide
  • •Damage during transit by rail, air, or road

Common Exclusions:

  • •Driving without a valid licence
  • •Drunk driving or illegal use
  • •Mechanical or electrical breakdowns
  • •Damage outside India (unless extension purchased)
Buy Or Renew

Steps to Buy/Renew CommercialVehicle Insurance

Buying or renewing your commercial vehicle insurance is quick and easy, whether online or offline.

Step 01

Get quotes

  • •Enter your vehicle’s registration number. The system auto-fills make, model, and year. 
  • •Compare IDV, add-ons, and nearby cashless garages.

Step 02

Select coverage

  • •Choose Third-Party insurance for legal compliance.
  • •Choose Comprehensive Insurance for full protection with optional add-ons like Zero-Dep, Engine Protect, RSA, or NCB Protect.

Step 03

Pay and Activate

  • •Make secure payment Online and Offline. Download your e-policy instantly. 
  • •If your previous policy has lapsed, the insurer may schedule a quick inspection before coverage starts.
Docs Required

Documents Required For Commercial Vehicle Insurance Claim

If your commercial vehicle is in an accident or stolen, inform your insurer immediately; don't start repairs until they say so, and keep basic proofs ready: policy, RC, license, photos, repair estimates; plus a police FIR for theft or major third-party cases. For theft, insurers also ask for a non-traceable report from police before settling.

Accident, flood, fire, vandalism

Own-Damage

  • •Policy / e-policy copy
  • •Registration Certificate (RC)
  • •Driving Licence
  • •Completed Claim Form
  • •Repair Estimate
  • •Final repair bills
  • •Damage photos or videos
  • •Instruction: Do not repair vehicle until surveyor inspects

Mirrors, visor/fairing, headlamp, indicators

Glass-only/minor damage

  • •Policy / e-policy copy
  • •Registration Certificate (RC)
  • •Driving License
  • •Completed Claim Form
  • •Damage photos
  • •Repair invoice or estimate
  • •Report from authorized glass partner

Constructive total loss

Total Loss

  • •All Own-Damage Claim Documents
  • •Surveyor's total-loss assessment report
  • •RTO forms for RC transfer or cancellation
  • •Bank NOC (No Objection Certificate)
  • •Note: Repair cost must be ≥ 75% of IDV

Total theft or parts theft

Theft

  • •Policy / e-policy copy
  • •Registration Certificate (RC)
  • •Driving Licence
  • •Completed Claim Form
  • •First Information Report (FIR)
  • •Police Non-traceable Report
  • •All vehicle keys (all sets)
  • •Subrogation letter and RC transfer papers
  • •Note: Theft Claims need a non-traceable certificate before settlement

Injury or property damage to others

Third-party

  • •Policy / e-policy copy
  • •Driving Licence
  • •Registration Certificate (RC)
  • •Completed Claim Form
  • •FIR or police intimation
  • •Third-party details and evidence (Photos, RC Number, witness details)
  • •Court or MACT papers
  • •Note: Third Party Insurance is mandatory for all commercial Vehicles.

Digital Copies Are Accepted

  • e-Insurance Account (eIA) Policies are legally valid insurance contracts.
  • Keep digital copies of all key documents ( policy, RC, licence, FIR, photos, and invoices) for quicker verification during claim submission.
Choose MyMotor

Why Choose MyMotor For Commercial Vehicle Insurance?

  • 1

    Enter vehicle number and see instant quotes from 20+ Commercial Vehicle insurance companies.

  • 2

    Renew a commercial vehicle’s insurance policy online in minutes, even after a lapse (may need inspection, per IRDAI guidance).

  • 3

    Get personalised recommendations like Zero-Depreciation, NCB Protect, and Engine Protect based on your Commercial Vehicle’s age and usage.

  • 4

    24/7 claim support and cashless guidance at nationwide network of authorised garages.

  • 5

    Compare comprehensive, third party, and new commercial vehicle insurance plans to make informed choices.

Disclaimer: Vehicle Insurance Plans here are brought to you by PolicyBazaar, for any queries contact their customer support directly.
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Commercial Vehicle Insurance FAQs
Yes. Under the Motor Vehicles Act, 1988, every commercial vehicle on public roads must have at least a Third-Party (TP) Liability Policy. This policy covers injury, death, or property damage caused to others by your vehicle. Driving without valid insurance is a punishable offence and can lead to penalties, licence suspension, or even vehicle seizure.
Commercial Vehicle Insurance covers all vehicles used to carry goods or passengers for hire or business use. This includes:
  • Goods carriers like trucks, pick-ups, tippers, delivery vans, and tankers.
  • Passenger carriers like taxis, cabs, buses, school vans, and e-rickshaws.
  • Special-purpose vehicles such as ambulances, cash vans, and recovery vehicles.
  • EVs and CNG/LPG vehicles registered under commercial categories.
No. Personal car insurance is only valid for private, non-commercial use. If you use your private car for deliveries, ride-hailing, or any income-generating activity, your insurer can reject claims. You’ll need a commercial vehicle insurance policy to stay covered and compliant with IRDAI rules.
Comprehensive insurance offers wider protection, it includes both third-party liability and own-damage (OD) cover. That means it pays for damages to your own vehicle caused by accidents, fire, theft, natural disasters, or vandalism, not just third-party losses. Because the risk exposure is higher, the premium is naturally more than a basic TP policy.
You can check your commercial vehicle insurance status easily:
  • Visit the VAHAN portal (vahan.parivahan.gov.in) and enter your registration number.
  • Or log in to your insurer's website/app with your policy number.
  • You can also find all active policies linked to your vehicle in your e-Insurance Account (eIA) or DigiLocker.