What Is Commercial Vehicle Insurance?

Commercial vehicle insurance is a type of policy designed to provide protection for vehicles used for business purposes. This kind of coverage is typically required by law, and it can include everything from comprehensive insurance for collisions, fire damage, and vandalism, to liability policies that cover you and your passengers in the event of an accident.

Key Features Of Commercial Vehicle Insurance

Key FeaturesBenefits
Damages To Third PartiesTPPD cover up to 7.5 lac & Unlimited for liabilities.
Damages To Own VehicleUp to Sum Insured Of Vehicle
Theft CoverIncluded in comprehensive policy.
Types Of Vehicles CoveredCommercial Cars, Pickup Trucks, Delivery Vans, School Buses, Trucks, Tractors, 3 Wheeler Auto Rickshaws
Price5499+GST for a third party policy
key features

Understand the Different Types of Commercial Vehicle Insurance

Commercial vehicle insurance policies come in a variety of types and levels, making it important to research your options and understand what each type covers.

Common types of commercial vehicle insurance include third party liability coverage, which pays for any damages or injury caused by an at-fault accident; comprehensive own damage coverage, which pays for any repairs to your vehicle due to theft, vandalism, or an accident. Understanding the different types of coverage is essential when choosing a policy.

Consider the Level of Coverage Required

When deciding on a policy for your commercial vehicle insurance, it’s important to consider the level of coverage that is required. In some cases, basic liability coverage may be sufficient to meet your needs. However, for more specialized vehicles or businesses that operate large fleets, additional types of coverage may be necessary to protect against financial losses. Ensure you understand all of the required coverages for your particular business and make sure that those are included in your policy.

Get Quotes from Several Insurance Providers

Before deciding on a commercial vehicle insurance policy, it’s important to shop around and compare prices from multiple providers. This will allow you to get the best possible rate for your particular business needs.

Be sure to calculate all of the associated costs of the selected plan, including deductibles and premiums, in order to make an informed decision about which policy is best for you. Don’t be afraid to ask questions and negotiate if necessary in order to secure the most cost-effective coverage.

Understand Additional Factors On Selection And Premium Rates

Along with proper coverage, keep an eye out for other factors such as the insurer’s claim settlement ratio and premium rate. Factors like the driver’s history, and age, type of vehicles you’re driving, business area, etc. can also affect the premium rate you’ll need to pay for your commercial vehicle insurance in India. So before purchasing a policy make sure to consider all of these factors carefully so that you can get the best coverage.


What is the price of commercial vehicle insurance in India?

Commercial vehicle package policy is combination of third party coverage and own damage coverage. The price of insurance depends on the sum insured and some other factors such as usage and age of the commercial vehicle.


A commercial auto policy provide coverage against the losses to insured due to damages to third party properties, injuries, deaths or damages to vehicle in case of any accident.

What is IMT23 Cover?

IMT23 cover the loss of or damage (excluding theft under any circumstances) to lamps tyres/tubes mudguards/bonnet/side parts bumpers headlights and paintwork of damaged portion only provided the commercial vehicle is also damages at the same time.

Can I buy insurance on EMI for my commercial vehicle online?

You can buy Commercial vehicle insurance policy online on EMI if you possess a credit card with sufficient credit limit available on your card as required to match the total cost of your commercial vehicle insurance. Some financial institutions also offer EMI on debit cards which can be used to buy insurance for vehicle used for commercial purposes.

Where Can I buy commercial vehicle insurance online in India at lowest prices

Compare commercial vehicle insurance cost on policymeter.com and get cheapest prices from multiple insurers online and renew in minutes.

What is the cost of commercial vehicle policy in India?

The cost of commercial vehicle insurance starts from Rs. 9451 for minitruck third party policy if it carrier private goods. For transporting public goods commercial vehicle insurance price starts from Rs. 15746 + GST.

How much is 6 wheeler truck insurance price?
How much is 12 wheeler truck insurance price?
What is the difference between commercial car insurance and private car insurance?

Commercial car insurance provide coverage the damages to or by cars which are used for carrying passengers in case of any accident while private car insurance protects private cars in same incidents.

Where can I buy commercial auto insurance online in India?

You can buy commercial auto insurance from authorized IRDA web aggregators online in India or from direct insurance companies too. Commercial auto insurance cost is about 7800 for a third party policy.

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How much is 10 wheeler commercial truck insurance price?

10 wheeler insurance price is 49600 including GST in India for a third party policy.

How much is 14 wheeler commercial truck insurance price?

14 wheeler insurance price is 49650 including GST in India for a third party policy.

Where can I download Commercial Vehicle Insurance policy wordings?

You can request any insurance company’s policy wordings on our official email ID – [email protected] We will be happy to serve you.