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Content Writer
Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.
Content Writer
Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.
Product Head - Motor
Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.
Product Head - Motor
Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.
Most of India’s population depends on passenger carrying commercial vehicles for travelling and for most cab or taxi drivers, the taxi/cab car isn’t only a medium of transportation but also the primary source of income.
This is why it’s crucial to get it insured with a suitable cab insurance policy. Moreover, it is also mandatory by law in India to have at least a third-party taxi car insurance policy.
So, here’s a guide to buying or renewing commercial insurance for taxi/cab in India to help make the process quicker and hassle-free for you.
Taxi/cab insurance is a type of commercial vehicle insurance policy designed to cover taxi/cabs that are used commercially to carry passengers, against damage or loss in case of theft, accidents, natural calamities, and even third-party liabilities.
It is different from private car insurance because taxi insurance covers the additional risks associated with carrying passengers commercially and covers you financially in case of loss to your business due to damage to taxi/cab.
Taxi owners/drivers can secure their vehicle with a third-party policy, comprehensive plan, or a standalone own damage cover.
Yes, it is extremely important for all cabs and taxis to have a liability policy in place and even better, to have a standard/comprehensive package policy in place.
Moreover, if your primary business involves picking and dropping passengers on a daily basis- you must be prepared for all kinds of risks that your taxi and company may face!
A standard taxi insurance policy will protect and cover your company in case of any losses your taxi causes to a third-party property/person/vehicle and would also cover the insured taxi and the owner in case of any accidents, natural calamities, theft, malicious acts, etc.
If you or your organization does own any kind of commercial taxi or cab, it is mandatory by law to at least buy a Third-Party liability only taxi insurance policy. This financially covers your business, keeps your profit margin in check and reduces downtime in case your taxi causes damage and losses to a third-party property, person or vehicle.
Businesses are usually prone to risks and if you’re an asset-heavy business with many taxis, the risk only magnifies. In such cases, it is wise to purchase a standard or comprehensive package policy for your taxis or cabs as it will protect your commercial taxi and the owner-driver from any losses caused due to natural calamities, accidents, terrorist activities, fires, thefts and malicious acts, among other unforeseen circumstances.
Taxi car insurance is also important to ensure the safety of your passengers. This won’t only ensure your passengers are protected too but gives you more credibility as a responsible business and/or driver.
An insured taxi or cab ensures you or your business doesn’t face any unplanned losses or downtime, which means you can instead spend your money and time on your business growth.
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When it came to motor insurance specifically, Digit showcased a high-efficiency Claims Settlement Ratio (CSR), with 96% of motor claims settled seamlessly and we make this simple with:
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Damages caused to your taxi/cab in case of an accident.
Loss or damage of your taxi/cab due to theft.
Damages caused to your taxi/cab due to a fire.
Damages caused to your taxi/cab due to any natural calamity.
If there is an accident of your taxi/cab, leading to an injury or death of the owner.
Any damages caused by your taxi/cab to a third party or its passengers.
Any damages caused to your taxi/cab in cases where it’s being towed.
It is equally important to know what’s not covered in your commercial taxi insurance policy so that there are no surprises when you make a claim. Here are some such situations:
In the case of a Third-Party Liability Only Policy, damages to own vehicle won’t be covered.
If the owner-driver of the claimed for taxi is drunk or driving without a valid licence.
Any damage caused due to a contributory negligence of the owner-driver (such as driving when there’s an existing flood)
Any damage which is not a direct result of the accident (e.g. after an accident, if the damaged taxi is being used incorrectly and the engine gets damaged, it will not be covered)
Some situations are covered in add-ons. If you haven’t bought those add-ons, the corresponding situations will not be covered.
Choose from the following 9 add-ons available under commercial taxi insurance policy by Digit to get enhanced protection for passenger carrying vehicles.
Under the consumable add-on your cab/taxi’s bits and pieces, like the nuts and bolts, screws, engine oil, and grease are covered in case they are damaged or lost in an accident.
With this add-on cover you get a higher payout at the time of claim and, thus, peace of mind as Zero Dep cover removes the depreciation costs on the vehicle parts when calculating the claim settlements.
This add-on covers consequential damage to your taxi car's engine or gearbox after the accident, which can happen due to water regression or leakage of lubricating oil.
The one add-on cover that protects you 24x7 in case your taxi or cab breaks down on the road due to an accident, flat tires, malfunctioning battery, or other factors, is the breakdown assistance add-on.
In case your business incurs any loss of income when your taxi/cab was not available when it was being repaired due to damage, then this add-on will compensate you for the amount.
If your cab or taxi is being towed from the spot of accident to the nearest garage or place of safety, then you would have to pay some additional expenses. However, with this add-on you will be compensated for the amount.
If your commercial taxi, which is taken on loan, is being repaired in a garage due to damage in an accident, it might cause a loss to your business. So, this add-on helps you as it pays the regular EMIs payable to the financier of the vehicle recorded in insurer’s books.
In case your taxi/cab suffers total loss/constructive loss or theft, return to invoice cover will compensate you the amount or a new taxi/cab at the prevailing ex-showroom price. This will be the same make, model, and variant. However, if it is discontinued, you will be paid the difference between the last available ex-showroom price and claim payable under OD section of the Base Policy.
If your taxi or cab’s lockset is damaged or the keys are lost, you would need the key and lock replacement add-on as it covers the cost of replacing locks and keys, installing a new lock set etc., in the insured taxi car.
Digit also offers optional covers for commercial cab insurance, which provide enhanced coverage to protect in all circumstances, including:
To protect owner-driver against bodily injury or death in case of an accident you need the Personal Accident Cover. Also, it is mandatory by law in India to have a PA cover, so if you don’t already have this cover get it with your taxi car insurance policy plan.
Since a taxi or cab is a passenger carrying commercial vehicle, it is important to ensure the safety of its passengers. Thus, the Unnamed PA cover helps protect the insured car’s passengers against injury, who might be sitting in the vehicle at the time of an accident.
This additional cover protects your taxi/cab business against any legal liability that may arise due to an injury caused to your employees or someone who works for you.
This endorsement covers the losses or damage caused to the insured taxi’s lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all circumstances, even if the vehicle is partially damaged.
This add-on covers damage or loss of any electrical accessories fitted in your taxi or cab, which is not a part of the manufacturer’s model.
This add-on covers damage or loss of any non-electrical accessories fitted in your taxi or cab, which is not a part of the manufacturer’s model.
This cover helps reduce your taxi insurance price premium as you are then required to pay only a certain amount as your share of the loss, called the compulsory deductible in case of any loss. Additionally, you get covered for the loss or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your taxi is completely damaged.
Based on the requirement of your cab or taxi, we primarily offer two policies. However, considering the risk and frequent use of such commercial vehicles, it’s always recommended to take a Standard/Comprehensive Package Policy that will financially protect the taxi and the owner-driver as well.
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Damages caused by your passenger carrying vehicle to any third-party person or property |
✔
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✔
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Damages caused to any third-party person or property by the vehicle being towed by your insured passenger carrying vehicle. |
✔
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✔
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Loss or damages to your own passenger carrying vehicle due to natural calamities, fire, theft or accidents. |
×
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✔
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Injury/death of owner-driver If owner-driver doesn’t already have a Personal Accident Cover from before |
✔
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✔
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On the Digit app or website, enter your taxi/cab’s registration number, mobile number, and click on ‘View Prices.’
Select the plan, add-ons and IDV, and click on ‘Continue.’
Enter your personal, nominee and vehicle details and click on ‘Pay Now.’
Complete the payment and mandatory KYC verification process.
You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
To get commercial insurance for taxi/cab online from Digit, keep these documents handy:
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
Inform your insurer as soon as possible by calling Digit on 1800-258-5956 or dropping an email at hello@godigit.com.
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.
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.
Go to Digit App or website and click on the ‘My Policy’ tab.
Select the policy pending for cab/taxi insurance renewal online and click on ‘Renew Policy.’
Now select the plan, IDV, add-ons and confirm the details, then click on ‘Pay Now.’
You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
To download your renewed or already active taxi commercial 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 electric three-wheeler insurance policy document will be downloaded.
At Digit, we believe filing a motor insurance claim should be simple, not stressful. That’s why we’ve built intelligent automation into every step of the process—so you can get back on the road, faster.
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In H2 FY25, our average vehicle repair approval time was 15 hours and 36 minutes, with 69% of approvals completed within 12 hours. Only 7.47% of cases experienced longer wait times, typically due to complex assessments or the need for additional documentation, highlighting our commitment to minimising delays and maximising efficiency.
Rest assured, we carefully monitor every step to ensure your vehicle is back on the road as swiftly as possible!
The below data is for all the products as given in the table below.
That’s how many times we showed up for our customers in FY 2024–25. Behind each of those numbers is a mishap, and we were right there, making sure things got sorted quickly.
Out of these, nearly ₹6.52 lakh were motor insurance claims alone—proof that we’re there when it matters most, whether it’s something trivial or serious.
From minor hiccups to major emergencies, we made sure our customers didn’t have to carry the financial burden alone. Quick settlements, zero confusion, and real peace of mind.
Of this, ₹2,199 crore was paid out under motor insurance, covering everything from accidents to unexpected situations like rat damage.
Out of 9.16 lakh claims in FY 2024–25, only 256 were escalated to the Hon’ble Ombudsman^. Out of which only 46# were escalated and ruled in favour of the customer. This significantly proves the claim's accuracy rate of 99.9950%.
For Motor Claims, out of 256 escalated claims for Digit, just 124 were motor-related. By year-end, 104 motor claims were closed, with 28 resolved through mediation. Only 26 health claim decisions went in favour of customers.
The below information is a summary of escalated claim cases reviewed by the Hon’ble Ombudsman in FY 2024–25.
Disclaimer: ^This data pertains to cases reported to various offices of the Hon’ble Insurance Ombudsman. Customers have the option to approach the Consumer forum as well; #Only includes complaints arising from claims. The company had a total of 11 complaints arising from non-claims, i.e., policy-related grievances (5 won, 2 settled, 1 lost, and 3 outstanding). One non-claim complaint where the decision went in favour of the complainant is not included in the numerator while calculating claims accuracy.
The below information is a summary of escalated claim cases reviewed by the Hon’ble Ombudsman in FY 2024–25.
Disclaimer: ^This data pertains to cases reported to various offices of the Hon’ble Insurance Ombudsman. Customers have the option to approach the Consumer forum as well; #Only includes complaints arising from claims. The company had a total of 11 complaints arising from non-claims, i.e., policy-related grievances (5 won, 2 settled, 1 lost, and 3 outstanding). One non-claim complaint where the decision went in favour of the complainant is not included in the numerator while calculating claims accuracy.
All cars used for different commercial purposes, to transport passengers from one place to another are covered in commercial taxi insurance. Digit covers the following types of commercial taxis and cabs:
If you are a private car owner, however, use the vehicle for commercial purposes, such as carrying passengers either for long or short distances, then it is essential to have commercial taxi car insurance online. This type of insurance safeguards you, your vehicle and even the passengers from potential losses or unforeseen incidents.
If you own multiple cars or even electric cars as taxi or cab to operate a business, it again becomes essential to insure all those taxi cars against any unforeseen losses or damage due to accident, natural calamities, or theft.
Given the number of options available today, it is important to pick a commercial car 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 an insurance!
Here are a few tips that will help you pick the right commercial car insurance for your taxi or cab:
Right Insured Declared Value (IDV): IDV is the manufacturer’s listed selling price of the taxi or cab you want to insure (including its depreciation). Your premium will be dependent on this. While looking for the right taxi 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 taxi insurance for your car, 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 taxi insurance that conveniently covers everything you think you will need at the best possible value.
It can be tempting to pick the cheapest cab insurance available. However, while comparing different taxi insurance quotes, consider factors such as service benefits and claim settlement periods.
Weighing in important factors is important to ensure your vehicle and business are safeguarded against all the odds:
The following factors significantly affect your taxi insurance online price:
Model, Engine & Make of the Vehicle: For any kind of motor insurance, the car model, make and engine are extremely important in determining the right insurance premium. Therefore, based on whether your car is a sedan, hatchback or an SUV and, the manufacturing year of the same- all of it would be factored in to actuate your cab’s insurance premium.
Location: Your taxi’s insurance premium may differ based on where your taxi is registered. This is because each city is different and comes with its own set of problems such as bumper to bumper traffic, crime rates, road conditions, etc. Therefore, a taxi being driven in a metro city like Mumbai, Bangalore, Hyderabad or Delhi would have a higher taxi insurance premium, as compared to one being driven in a city like Surat or Kochi, among others.
No-Claim Bonus: If you’ve already had a cab insurance before and are currently looking to renew your policy or get a new insurer- then in this case your no claim bonus will also be considered, and your premium will be at a discounted rate! A No-Claim Bonus means your cab hasn’t had a single claim in the previous policy term.
Type of Insurance Plan: Your taxi insurance price will depend on the kind of plan you choose. While the third-party liability only plan comes with a lesser premium, a standard package policy costs more.
You might think that a normal car insurance policy would cover your taxi/cab as well, however, a commercial vehicle like a cab/taxi needs to be protected by a commercial cab insurance policy, as it is specifically designed to cover the needs of commercial vehicles.
Here are the differences between commercial taxi/cab insurance and private car insurance.
This is the first question that should come to your mind when switching your insurance company. Good you’re doing that!
Read Digit’s Claims Report CardPlease try one more time!
Have queries related to Digit motor insurance policy? You can refer to our Policy Wordings for detailed information or reach out to our support team via WhatsApp self-support, email or phone using the information below:
Connect with our self-serve chat bot support - 7026061234
Write to us at hello@godigit.com
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