Cheap Commercial Vehicle Insurance in india , Third Party / Renewal Online 2023

A Commercial Vehicle Insurance is a customized motor insurance policy to cover for damages and losses caused to or by a commercial vehicle and the respective owner-driver. This could include damages and losses in situations such as accidents, collisions, natural calamities, fires, etc.

It is mandatory for all businesses to buy a commercial vehicle insurance for their vehicles, such as for auto-rickshaws, cabs, school buses, tractors, commercial vans and trucks, amongst others.

Cheap Commercial Vehicle Insurance
Commercial Vehicle Insurance

Key Features of Commercial Vehicle Insurance

Key FeaturesCommercial Vehicle Insurance Benefit
Claim ProcessPaperless Claims
Customer Support24×7 Support
Types of Commercial Vehicles CoveredCabs and Taxis, Trucks, Lorries, Buses, Auto Rickshaws, School Vans, etc.
PremiumCustomized as per type of commercial vehicle & number of vehicles to be insured
Additional CoveragePA Covers, Legal Liability Cover, Special Exclusions and Compulsory Deductibles, etc
Damages to Third-PartyUnlimited Liability for Personal Damages, for Property/Vehicle Damages

Why do you need a Commercial Vehicle Insurance?

  • If your business owns one or many vehicles, it’s essential to get a commercial vehicle insurance that will financially protect and cover your business from any losses and damages caused to and by your vehicle (s) and the people using it.
  • If your primary business involves the use of vehicles, such as a regular cab service or a private school bus, a commercial vehicle insurance will assure your stakeholders and passengers that they’ll always be protected and covered for.
  • As a mandate by law, it is compulsory to at least have a Liability Only policy in place, that protects third-parties against any damages and losses that could be caused by your commercial vehicle.

What’s covered in a Commercial Vehicle Insurance?

  • Accidents: Damages caused to the commercial vehicle in case of an accident.
  • Theft: Loss or damage to the commercial vehicle due to theft.
  • Fire: Damages caused to the commercial vehicle due to a fire.
  • Natural Disasters: Damages caused to the commercial vehicle due to any natural calamity.
  • Personal Accident: If there is an accident of the commercial vehicle, leading to an injury or death of the driver.
  • Third Party Losses: Any damages caused by the commercial vehicle to a third party.
  • Towing Disabled Vehicles: Any damages caused to by the commercial vehicle to the vehicle being towed.

Best Commercial Vehicle Insurance Companies

Following is the list of General Insurance companies that offer Commercial Vehicle Insurance:

Insurance ProviderGoods Carrying Vehicle InsurancePassenger Carrying Vehicle InsuranceMiscellaneous Vehicle Insurance
Bajaj Allianz Commercial Vehicle InsuranceYesNoNo
Digit Commercial Vehicle InsuranceYesYesYes
Chola Commercial InsuranceYesYesYes
EDELWEISS Commercial Vehicle InsuranceYesNoNo
Future Generali Commercial Vehicle InsuranceYesYesNo
Iffco Tokio Commercial Vehicle InsuranceYesNoNo
MAGMA HDI Commercial Vehicle InsuranceYesYesYes
National India Commercial Vehicle InsuranceYesYesNo
New India Commercial Vehicle InsuranceYesYesYes
Oriental Commercial Vehicle InsuranceYesYesYes
Reliance General Commercial Vehicle InsuranceYesYesYes
Royal Sundaram Commercial Vehicle InsuranceYesNoNo
SBI General Commercial Vehicle InsuranceYesYesYes
Shriram General Commercial Vehicle InsuranceYesYesNo
Tata AIG Commercial Vehicle InsuranceYesYesNo
United India commercial vehicle insuranceYesYesNo
USGI Commercial Vehicle InsuranceYesYesYes

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