Commercial Vehicle
Coverage That Drives Your Commercial Fleet Forward
Commercial Vehicle Insurance is a specialized motor insurance policy designed to protect vehicles used for business or commercial purposes. It provides financial coverage against accidents, damages, theft, third-party liabilities, and optionally, the goods or passengers being carried. Whether you own a fleet of trucks, a taxi, a school bus, or a delivery van, commercial vehicle insurance is mandatory in India under the Motor Vehicles Act, 1988 to legally operate such vehicles on public roads.
Types of Commercial Vehicles
This Policy Is..
Goods-Carrying Vehicles
- Trucks and trailers (light, medium, heavy-duty)
- Pickups and delivery vans
- Tankers
- Refrigerated trucks
- Cement mixers
Passenger-Carrying Vehicles
- Taxis (yellow board cabs)
- School/college buses
- Staff transport vans
- Tourist buses
- Auto-rickshaws
- Tempo travelers
Special Purpose Vehicles
- Ambulances
- Mobile ATM vans
- Garbage collectors
- Construction vehicles (cranes, tippers, etc.)
Benefits of Private Car Insurance
- Legal compliance with motor laws
- Financial protection for your vehicle, business, and employees
- Reduces operational downtime and repair costs
- Enhances business trust and professionalism
- Wide cashless garage network for faster servicing
- Customizable coverage for different business needs
Scope
Liability Only Policy:
The policy covers the vehicle owner’s legal liability to pay compensation for:
- Death or bodily injury to a third party person.
- Damage to third party property.
Goods-in-Transit Cover
Covers loss or damage to goods being transported due to:
Accidents
Theft
Fire
Natural calamities
Useful for logistics businesses, transporters, e-commerce delivery vehicles, etc.
Documents Required
- Registration Certificate (RC)
- Fitness Certificate (mandatory for transport vehicles)
- Commercial Permit
- Valid Driving License
- Previous Insurance Copy (if renewing)
- Pollution Under Control (PUC) Certificate
- GST Certificate (for fleet/business users)
Premium Factors
- Vehicle type (goods/passenger/special use)
- Vehicle’s age and model
- IDV (Insured Declared Value)
- Engine capacity and weight
- Zone of operation (metro vs. rural)
- Claim history and NCB (No Claim Bonus)
- Add-ons selected
- Nature of goods or number of passengers carried
