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Buy/Renew Commercial Vehicle Insurance Policy Online in 2024

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If you run a business that utilizes vehicles, then you should know about the best Commercial Vehicle Insurance, the guardian angel that will protect your vehicles financially and is also mandatory by law in India. 

This insurance policy covers you as well as third party liabilities in unfortunate events leading to injury or death. Read more about it here!

Table of Contents

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What is Commercial Vehicle Insurance?

Commercial Vehicle Insurance, as the name suggests, is a motor insurance policy that covers damages and losses caused to or by a commercial vehicle and the respective owner-driver. 

It is mandatory in India as it provides coverage to both the parties involved in the accident, covering injury and even death. The policy can be customised as per your specific needs by opting for add-ons.

The policy covers damages or losses due to accidents, collisions, natural calamities, fires, etc. It is mandatory for all businesses to buy a commercial vehicle insurance online for their vehicles, such as for auto-rickshaws, taxis, school buses, tractors, commercial vans and trucks, amongst others.

Why Do You Need Commercial Vehicle Insurance?

  • If your business owns one or many vehicles, it’s essential to get insurance for commercial vehicles that will financially protect and cover your business from any losses and damage caused to and by your vehicle, 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, 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.
  • CV insurance like commercial car insurance has become increasingly important for cab drivers while commercial bike insurance is more important for delivery agents rather than regular bike insurance policy as it is more adaptable for them. Moreover, the coverage for commercial vehicle insurance can be tailored as per specific requirements.

Important Commercial Vehicle Insurance Statistics in India

Here are some important statistics for commercial vehicles in India:

1
In 2022-23, the total commercial vehicles sales increased to 9,62,468 units from 7,16,566 units in the previous year. These numbers include all commercial vehicles including taxis, school buses, auto-rickshaws, tractors, commercial vans, trucks, etc.
2
Between April and September 2023, the commercial vehicle industry in India grew by 2% year-on-year to 4.65 lakh units, which is estimated at USD 48.27 billion in 2024.
3
In 2022-23, the number of commercial vehicles produced was 10,35,626 while the number of exported vehicles was 78,645.

With statistics highlighting the increasing sales of commercial vehicles and frequent road incidents in India, commercial vehicle insurance becomes an absolute necessity. So, safeguard your business from financial burdens by getting cheap commercial vehicle insurance for all types of commercial vehicles. 

Why Choose a Commercial Vehicle Insurance Policy by Digit?

We treat our customers like VIPs, know how…

High IDV per rupee

Customize your Vehicle IDV

With us, you can customize your vehicle IDV as per your choice!

24*7 Support

24*7 Support

24*7 call facility even on National Holidays

Super-Fast claims

Smartphone enabled self-inspection processes take minutes!

What's Covered in a Commercial Vehicle Insurance?

Accidents

Accidents

Damages caused to the commercial vehicle in case of an accident.

Theft

Theft

Loss or damage to the commercial vehicle due to theft.

Fire

Fire

Damages caused to the commercial vehicle due to a fire.

Natural Disasters

Natural Disasters

Damages caused to the commercial vehicle due to any natural calamity.

Personal Accident

Personal Accident

If there is an accident of the commercial vehicle, leading to an injury or death of the driver.

Third Party Losses

Third Party Losses

Any damage caused by the commercial vehicle to a third party.

Towing Disabled Vehicles

Towing Disabled Vehicles

Any damage caused by the commercial vehicle to the vehicle being towed.

What’s Not Covered?

It is equally important to know what’s not covered in your commercial vehicle insurance policy so that there are no surprises when you make a claim. Here are some such situations:

od for third party

Own Damages for Third-Party Policy holder

In the case of a Third-Party Liability Only Policy, damage to your own vehicle won’t be covered

Drink Driving or without a Licence icon

Drunk Riding or without a Licence

If the owner-driver of the claimed vehicle is drunk or driving without a valid licence.

Contributory Negligences icons

Contributory Negligences

Any damage caused due to contributory negligence of the driver (such as driving when there’s an existing flood).  

Consequential Damages icon

Consequential Damages

Any damage that is not a direct result of the accident/natural calamity i.e., consequential losses like loss of earnings, loss of market, etc.

Add-ons not Bought icon

Add-ons not Bought

Some situations are covered in add-ons. If you haven’t bought those add-ons, the corresponding situations will not be covered.

Add-ons Available with Commercial Vehicle Insurance

Digit offers the following 9 add-ons with the commercial insurance policy to provide enhanced protection for different commercial vehicles. Choose the ones most suitable for you to get better coverage.

Consumable Cover icon

Consumable Cover

A consumable cover will give your commercial vehicle protection beyond just the usual. It covers the cost for your vehicle's bits and pieces, like the nuts and bolts, screws, engine oil, and grease in case of an accident.

Zero Depreciation Cover icon

Zero Depreciation Cover

Your vehicle and its parts can depreciate over time because of its wear and tear and this amount is usually deducted from any claim. This add-on ensures that this depreciation will be covered on any replaced vehicle parts in the case of partial damage or loss to your vehicle due to an accident.

Engine and Gear Box Protect icon

Engine and Gear Box Protect

Your vehicle's engine or gearbox can get damaged in an accident, due to things like water regression or leakage of lubricating oil. This add-on will help cover any consequential damage caused after the accident (but because of it); for example, engine damage due to hydrostatic loss, which is not covered in a basic plan.

Breakdown Assistance icon

Breakdown Assistance or Roadside Assistance

We all need a bit of help sometimes! Whenever you face a breakdown of your vehicle on the road, due to an accident, flat tires, malfunctioning battery, or more, with our breakdown assistance add-on, you will have the benefit of getting assistance 24x7. 

Loss of Revenue icons

Loss of Revenue

For many businesses and even individuals, vehicles are essential for work. This add-on helps to compensate you for any loss of income that could occur while your commercial vehicle is not available when it’s being repaired due to damage.

Additional Towing Expenses

Additional Towing Expenses

When your vehicle is in an accident, it will need to be towed to a garage to be repaired. Under this add-on, we will cover additional expenses that you might have while your vehicle is being moved from the spot of accident to the nearest garage or place of safety.

EMI Protection Cover

EMI Protection Cover

If your vehicle is taken on a loan and is damaged by an accident, and it’s sitting in a garage for repair that might mean a loss for your business. Through this add-on, you will be paid regular EMIs payable to the financier of the vehicle recorded in our books.

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Return to Invoice

If the insured passenger carrying vehicle suffers a total loss or constructive loss or is stolen, the policyholder will be compensated under this return to invoice cover. The compensation can be in the form of payment for a new vehicle at the prevailing ex-showroom price. However, exactly same make, model, variant is discontinued Company’s Liability will be limited to the difference between the last available ex-showroom price and claim payable under OD section of the Base Policy.

key and lock replacement icon

Key and Lock Replacement

There are instances when the vehicle’s lockset needs to be replaced or the keys are misplaced and lost. In such scenarios, this key and lock replacement cover helps the policyholder get compensated for the cost incurred to get the vehicle’s locks and keys replaced, installing a new lockset etc., in the insured vehicle. However, this add-on is available only for passenger carrying vehicles.

Debris Removal Expenses

Under this add-on cover, you are compensated for the expenses incurred by you towards cleaning up, removing debris, wreckage, or transhipment of goods from the insured goods carrying commercial vehicle to another vehicle, in case the insured vehicle suffers accidental damage or loss. The maximum amount is payable up to the Sum Insured opted by you.

Additional Coverages or Endorsements Available

Sometimes, just standard coverage for vehicles isn’t enough to cover for all circumstances. That’s why Digit offers optional covers too, which you can opt for as per your needs to extend your commercial vehicle’s coverage, including: 

PA cover icon

Personal Accident Cover

If you don’t already have a PA cover, you can include it within your commercial insurance policy plan as having a personal accident cover is mandatory by law. This provides coverage for bodily injury or death of the owner-driver in case of an unfortunate accident.

Unnamed PA Cover

Unnamed PA Cover

We hope this never happens, but if something happens to the passenger in the vehicle in an unforeseen accident, this cover is a fall back to cover for the same. 

Legal Liability icon

Legal Liability

This cover has you protected against any legal liability that arises against you due to an injury caused to your employees or someone who works for you.

IMT 23

IMT 23

This cover helps cover for losses or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all cases, even if the vehicle is partially damaged.

Electrical Accessories icon

Electrical Accessories

This cover is for those who have fitted any electrical accessory in their vehicle, which is not a part of the manufacturer’s model, this will cover those accessories.

Non-Electrical Accessories icon

Non-Electrical Accessories

If you’ve fitted any non-electrical accessory in your vehicle which is not a part of the manufacturer’s model, this cover helps cover for those accessories during damages and losses.

Special Exclusions & Compulsory Deductibles icon

Special Exclusions & Compulsory Deductibles

Upon every loss, there will be a certain amount you must pay as your share of the loss, called the compulsory deductible. This will also in turn help reduce your premium. This will also cover the loss or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your vehicle is completely damaged.

Key Features of Commercial Vehicle Insurance by Digit

Key Features Digit Benefit
Claim Process  Paperless Claims 
Customer Support  24x7 Support 
Types of Commercial Vehicles Covered  Cabs and Taxis, Trucks, Lorries, Buses, Auto Rickshaws, School Vans, etc. 
Premium  Customized as per type of commercial vehicle & number of vehicles to be insured 
Customisable Add-ons  10 add-ons available 
Additional Coverage  PA Covers, Legal Liability Cover, Special Exclusions and Compulsory Deductibles, etc. 
Damages to Third-Party  Unlimited Liability for personal damages, up to 7.5 lakhs for property/vehicle damages 

Types of Commercial Vehicles Covered

Passenger Carrying Vehicle Insurance

  • This insurance is specifically for vehicles that typically carry one or more passengers, such as taxi/cab, auto rickshaw, e-rickshaw, van, school buses, private buses, etc.
  • The premium varies depending on the type of vehicle, its cc, location of vehicle, seating capacity, vehicle weight, etc. 
  • The policy comes with several add-ons including PA Cover, Legal Liability Cover, Special Exclusions and Compulsory Deductibles, etc. 
  • Passenger carrying vehicles, especially school buses and regular cabs, have a huge responsibility as they carry several passengers daily. Therefore, they need commercial bus insurance.
  • Most of India’s population’s income depend on driving these vehicles. A commercial vehicle insurance policy ensures that they will always be protected against losses, in case of any unfortunate circumstances.
Passenger Carrying Vehicle Insurance

Goods Carrying Heavy Vehicle Insurance

  • If your business actively uses trucks to transport goods from one place to another, a commercial vehicle insurance also protects losses against any loss or damage of goods that can occur due to circumstances such as natural calamities, accidents, fires, etc.
  • Commercial truck insurance covers vehicles that typically carry goods to be transported from one place to another, which primarily include trucks, tempos, trailers, etc.
  • Goods carrying vehicles are usually large and prone to a lot of risk. So, commercial vehicle insurance not only protects damages and losses to third parties but also protects the owner-driver and the vehicle from losses that can arise out of accidents, natural calamities or other unfortunate situations.
Goods Carrying Vehicle Insurance

Light Commercial Vehicle Insurance

  • This insurance covers lightweight vehicles that are used for transporting goods commercially, such as mini trucks, minivans, and pickups like Tata Ace, etc.
  • Light Commercial Vehicle Insurance for goods carrying vehicle covers damages due to accident, theft, fire, natural disasters, personal accident, towing, etc.
  • It also provides liability coverage, which implies that it will also cover any damage or loss to a third party due to your vehicle.
Light Commercial Vehicle Insurance

Commercial Two-Wheeler Insurance

  • This insurance covers two-wheelers used for business, or which carry passengers from one place to another, but it does NOT cover any personal two-wheelers.
  • It covers different types of two-wheelers, like motorcycles, mopeds, scooters, and more.  
  • A commercial bike insurance safeguards passengers, and in some cases, the owner/driver depending upon the policy terms, in mishaps due to accident, collision or natural calamity.
Commercial Bike Insurance

Miscellaneous & Special Vehicles Insurance

  • This type of insurance covers other vehicles often used for and by business. Some of these may include special vehicles used for farming, mining and construction, among others, including JCB, excavators, tractors, etc.
  • Commercial vehicle insurance for such vehicles will protect them from any damage and losses caused to and by the vehicle and its respective owner-driver.
  • Given both the investment and size of these vehicles, it’s always a safer choice to insure the same with commercial vehicle insurance. This way, the business or sole proprietor will lessen its risk and protect itself from any financial losses that could occur due to unfortunate mishaps.

Third Party vs Comprehensive Commercial Insurance

Third Party

Comprehensive

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✔
✔
✔
×
✔
✔
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How to Buy a Commercial Vehicle Policy Online?

Step 1

On the Digit app or website, enter the commercial vehicle’s registration number, mobile number, and click on ‘View Prices.’

Step 2

Select the plan, add-ons and IDV, and click on ‘Continue.’

Step 3

Enter your personal, nominee and vehicle details and click on ‘Pay Now.’

Step 4

Complete the payment and mandatory KYC verification process.

Step 5

You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.

Documents Required to Buy Commercial Insurance Online

To get commercial insurance online from Digit, only these documents are required:

  • Vehicle Registration Certificate (RC)
  • Previous year commercial vehicle insurance policy, if applicable
  • Any document among these for KYC verification - PAN/Aadhar/DL/Voter id/Form 16/Passport

How to File a Claim with Digit?

Step 1

Inform your insurer as soon as possible by calling Digit on 1800-258-5956 or dropping an email at hello@godigit.com.

Step 2

Keep your details handy such as policy number, location of the accident, date and time of the accident, and contact number of the insured/caller to make the process easier.

Step 3

Present the required documents required to file the claim and wait for the insurers to verify the details. Upon verifying, your claim will be processed.

What are the Documents Required to File a Claim with Digit?

Here is the list of documents you will need to file a claim for commercial vehicle insurance. Remember that these documents may vary depending on the type of claim. 

  • Registration Certificate (RC) of the vehicle
  • Driving license of driver
  • Aadhaar card
  • Fitness certificate of the vehicle
  • Copy of FIR, if applicable 
  • Load challan of your commercial vehicle 
  • Duly filled claim form 
  • Tax paid receipt
  • Commercial Vehicle Insurance Policy Certificate

How to Avoid Claim Rejections?

Here’s what all you need to keep in mind to avoid claim denials for commercial auto insurance:

  • Always drive your insured vehicle only when you have your valid commercial driving license with you. This is because if you do not possess a valid license at the time of the accident, or if you were driving without one, your claim will be denied. 
  • Make sure your vehicle’s registration certificate (RC) and all other important documents are valid and not expired.  
  • You must also have a valid or active Pollution Under Control Certificate (PUCC) for the insured vehicle when you are renewing your commercial vehicle policy.
  • This is a given but remember to follow all the road safety rules and regulations to avoid claim rejections on grounds of issues like underage driving, drunk driving, overloading, or even running a red light at the time of an accident.
  • Remember to transfer the vehicle’s insurance policy the new owner when buying a second-hand vehicle, else claims could be rejected.
  • In case the vehicle meets with any accident or theft, inform your insurer about it at the earliest, before sending it for any repairs. Also, send them all the necessary documents within the fixed period to avoid claim denial.
  • Always provide correct information about the loss face while filing for claim as any misinterpretation or fraudulent information will lead to claim rejection.

How to Renew Commercial Vehicle Policy with Digit?

Step 1

Go to Digit App or website and click on the ‘My Policy’ tab.

Step 2

Select the policy pending for renewal and click on ‘Renew Policy.’

Step 3

Now select the plan, IDV, add-ons and confirm the details, then click on ‘Pay Now.’

Step 4

You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.

How to Download Your Commercial Vehicle Insurance Policy on Digit App?

To download your renewed or already active commercial vehicle insurance policy with Digit, follow the given steps:

  • Step 1 - On the Digit app, go to the ‘My Policies’ tab at the bottom. All your current active policies will be displayed.
  • Step 2 – Choose the policy for which you want to download the document. Check the details and then click on ‘Download Policy’. Your commercial vehicle insurance policy document will be downloaded.

Rate of Depreciation for Commercial Vehicles

The price of premium for your commercial vehicle insurance policy depends upon the Insured's Declared Value (IDV) of the vehicle. This IDV is adjusted for depreciation value of your vehicle as per the below table.

This age-wise depreciation is applicable for only Total Loss/Constructive Total Loss (TL/CTL) claims.

Vehicle Age Depreciation Rate
Not Exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%

Why is it Important to Buy/Renew Commercial Vehicle Insurance?

It’s important to buy or renew your cheap commercial vehicle insurance for the following reasons: 

  • As per the Motor Vehicle Act, every vehicle whether it’s used for personal or professional purposes is required to at least have a third-party liabilities policy to cover for any damages or losses cause by your commercial vehicle to a third-party person, vehicle or property.  
  • Safeguard your own commercial vehicle too by going for a complete package policy that will protect your commercial vehicle from own damages and losses due to accidents, collisions, natural calamities, etc.   
  • Avoid unexpected business losses, as your commercial vehicle insurance will be able to cover them all in times of need.

Why Should I Buy Commercial Vehicle Insurance for my Business?

Whether you’re using a vehicle as part of your primary business or not, it’s important to safeguard all vehicles being used for commercial purposes.   

While a liability only policy is already a mandate by law, having a standard package policy in place ensures your vehicle and owner-driver are also financially protected in the case of any unforeseen circumstances such as natural calamities, fire, theft and accidents.

If your business is asset heavy due to the vehicles used, you must have a standard package policy in place. This not only protects the owner-driver but also financially protects your business from any possible losses.  

After all, businesses are full of risks. A commercial vehicle insurance will at least protect you from one of them.

How to Choose the Right Commercial Vehicle Insurance Online?

Given the number of options available today, it is important to pick an insurance that is simple, reasonable, protects and covers you and your business in all possible situations and most importantly, guarantees to settle claims as soon as possible. After all, that’s the most important part of insurance! 

Here are a few tips that will help you pick the right motor insurance for your vehicle:

Right Insured Declared Value (IDV)

IDV is the manufacturer's selling price of the commercial vehicle (including depreciation) you want to insure. Your premium will be dependent on this. While looking for the right commercial vehicle insurance online, make sure your IDV is stated correctly.

Service Benefits

Consider services such as 24x7 Customer Support and a Wide Network of Cashless Garages, among others. In times of need, these services matter.

Review Add-Ons

While picking the right commercial insurance for your vehicle, consider the add-ons available to ensure maximum benefits.

Claim Speed

It’s the most important aspect of any insurance. Pick an insurance company you know will settle claims quickly.

Best Value

From the right premium and after services to claim settlements and add-ons; pick a motor insurance that conveniently covers everything you think you will need at the best possible value.

How to Compare Commercial Vehicle Insurance Quotes Online?

It can be tempting to pick the cheapest commercial vehicle insurance available. However, while comparing commercial vehicle insurance quotes, consider factors such as service benefits and claim settlement periods.

Depending on your type of vehicle, vehicles used for commercial purposes can be prone to a lot of risks. Therefore, weighing in important factors is important to ensure your vehicle and business are safeguarded against all the odds:

1. Service Benefits

Great services really matter in times of trouble. Make sure to evaluate services each insurance company is offering and make a sound choice accordingly.

Some of the services Digit offers are 24*7 Customer Care Support and Cashless at 1400+ Garages among other services.  

2. Quick Claim Settlement

The whole point of insurance is to get your claims settled! So, make sure you pick an insurance company that will guarantee quick claim settlements. 

Additionally, we have a zero-hardcopy policy, which means we only ask for soft copies. Everything is paperless, quick and hassle-free!

3. Check your IDV

A lot of insurance quotes online will have a low IDV (Insured Declared Value), I.e. the manufacturer's selling price of your commercial vehicle. While the IDV affects your premium, it also makes sure you get your right claim at the time of a settlement.

The last thing you want during a theft or damage is to find out your IDV was low/at the wrong value! At Digit, we give you the option to set your IDV while buying your commercial vehicle insurance policy online.

4. Best Value

Finally, pick the vehicle insurance that gives you a fair combination of it all. The right price, services and of course, quick claims!

Factors to Consider for Commercial Vehicle Insurance Premium Calculation

The Following are the factors that could affect your commercial vehicle insurance premium:

1. Model, Engine & Make of the Vehicle

Of course, the amount of risk your vehicle faces will largely depend on what kind of vehicle it is in the first place!

A commercial vehicle insurance for a regular cab will be a lot lesser than that of a goods carrying truck or school bus, simply because of the size and type of vehicle. Additionally, factors such as the year of manufacturing, vehicle condition, etc., will also influence your premium.

2. Location

Your vehicle’s insurance premium may differ based on where your commercial vehicle is registered and going to be used.

This is because each location possesses a different level of risk, i.e. a vehicle being used in a metro city like Mumbai, Bangalore, Hyderabad or Delhi would be higher than that of non-metro cities. 

3. No-Claim Bonus

If you’ve already had a commercial vehicle insurance before and are currently looking to renew your policy or get a new insurer- then in this case your NCB (No Claim Bonus) will also be considered, and your premium will be at a discounted rate!

A No-Claim Bonus means your commercial vehicle hasn’t had a single claim in the previous year.

4. Type of Insurance Plan

Under commercial vehicle insurance, there are primarily two kinds of insurances available. Therefore, your insurance premium will also depend on the kind of plan you choose.

While the compulsory, liability only plan comes with a lesser premium- it only covers third-party damages or losses caused to a third-party and personal accident of the owner (if he/she is traveling in the insured vehicle);whereas a standard package policy may be higher in premium but, would also cover damages and losses to our own commercial vehicle and the driver respectively.

5. Purpose of the Commercial Vehicle

Every commercial vehicle is used for different purposes. While some are used to transport passengers, some are used to transport goods or even used to construct buildings. Therefore, your insurance premium will also take into consideration the purpose of your vehicle.

Typically, regular auto rickshaw insurance would be cheaper than of a goods carrying truck not only cause of the difference in size, but also cause a truck insurance will also cover for the value and type of goods being regularly transported.

Important Things to Know Before Buying a Commercial Vehicle Insurance Policy

What is IDV?

The Insured Declared Value is the maximum amount your insurance provider can pay out in case your car is stolen or damaged beyond repair. This value is determined by the manufacturer’s selling price of your vehicle and its depreciation calculated.

What is NCB (No Claim Bonus)?

A No Claim Bonus (NCB) is a discount on premium given to the policyholder for having a claim free policy term. A no claims bonus ranges from a discount of 20-50% and is something you earn at the end of your policy period by maintaining a record of having no accidents caused by your commercial vehicle.

What are Deductibles?

Deductibles are the amount the policy holder is required to pay out during a claim. There are generally two kinds of deductibles; one that is compulsory and the other, the voluntary claim- that you can opt and choose according to how much your business can bear per claim.

The higher your voluntary claim, the lower your premium is. However, while choosing a voluntary deductible amount- make sure it is an amount you’ll be able to afford in case a claim arises.

What is a Cashless Claim?

If you opt to get your commercial vehicle repaired with a Digit Authorized Repair Center, we will make the payment for the approved claim amount, directly to the Repair Center. This is a Cashless Claim.

Please note, if there are any deductibles, like a Compulsory Excess/ Deductible, any repair charges for which your insurance doesn’t cover you or any depreciation costs, that is to be paid by the insured’s own pocket.

What Do You Mean by a Third-Party Liability?

A Third-Party Liability is when your commercial vehicle damages a third-party property, person or vehicle. In this case, your insurance policy (Liability only policy/Standard Package Policy) is liable to financially cover for the losses incurred towards it.

How is Commercial Vehicle Insurance Different from a Regular Car Insurance?

A commercial vehicle is essentially prone to a lot more risk than regular car insurance. Take for instance a goods carrying truck. In case of an accident or a natural calamity, a truck would bear a lot more risk due to its size and the value of goods being carried on the truck.

Similarly, taxis and buses would bear a lot more risk, as they carry several different passengers daily and would be liable for the same.

To simply put it, regular car insurance is primarily designed for cars owned and used by you and your family. However, commercial vehicle insurance is specifically designed for those who use vehicles as a vital part of their business.

The risks and situations that could arise for the two are different and policies are therefore customized for each of them accordingly. 

FAQs about Commercial Vehicle Insurance in India