Commercial Vehicle Insurance
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Buy/Renew Commercial Vehicle Insurance Policy Online in 2024

What is Commercial Vehicle Insurance?

Why Do You Need Commercial Vehicle Insurance?

Important Commercial Vehicle Insurance Statistics in India

Here are some important statistics for commercial vehicles in India:

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.
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.
In 2022-23, the number of commercial vehicles produced was 10,35,626 while the number of exported vehicles was 78,645.

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?



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



Loss or damage to the commercial vehicle due to theft.



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 available with Commercial Vehicle Insurance Policy by Digit

Consumable Cover icon

Consumable Cover

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.

Parts Depreciation Protect

Parts Depreciation Protect

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 (like rubber or fiberglass parts) in the case of 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 standard policy.

Breakdown Assistance icon

Breakdown Assistance – commonly known as 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.

Return to Invoice Cover icon

Return to Invoice - Passenger Carrying Vehicle

If the insured vehicle is 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 or If 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

Key and Lock Replacement - Passenger Carrying Vehicle

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.

Additional Coverages or Endorsements Available with Commercial Vehicle Insurance by Digit

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.

Commercial Vehicle Insurance Plans That Fit Your Needs


Third Party

This insurance policy offers protection to only third-party property or person in case of damage or loss due to your vehicle. It is mandatory in India to have at least third-party liability insurance for commercial vehicles. Also, no add-ons are available with this policy, and the premium price for a third-party liability policy is fixed by IRDAI. 



Comprehensive insurance protects your own vehicle as well as covers the third-party for bodily injury or property damage. This plan offers wider protection against injuries, damage, natural disasters, and theft. The comprehensive policy also has a provision of several add-on covers that help enhance the coverage.

Third Party



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.


Customized as per type of commercial vehicle & number of vehicles to be insured

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/cabauto rickshawe-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.

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.

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.

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.

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 JCBexcavatorstractors, 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.

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

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

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.

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Digit's Cashless Garages

Get cashless repairs at 1400+ garages across India 

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

How to Avoid Claim Rejections?

How to Renew Commercial Vehicle Policy with Digit?

Step 1

How to Renew Commercial Vehicle Policy with Digit?

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?

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?

Why should I buy Commercial Vehicle Insurance for my Business?

How to choose the Right Commercial Vehicle Insurance Online?

How to Compare Commercial Vehicle Insurance Quotes Online?

Factors to Consider for Commercial Vehicle Insurance Premium Calculation

Important Things to Know Before Buying a Commercial Vehicle Insurance Policy

FAQs about Commercial Vehicle Insurance in India