Commercial Taxi/Cab Insurance
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Manasvi Gupta

Written By

Manasvi Gupta

Manasvi Gupta

Manasvi Gupta

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.

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Reviewed by:

Mayur Kacholiya

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Mayur Kacholiya

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.

Commercial Cab/Taxi Insurance Price & Policy Renewal Online 2025

What is Commercial Taxi Insurance for Taxi/Cabs?

what is commercial taxi insurance

What is Commercial Taxi Insurance for Taxi/Cabs?

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.

Is It Mandatory to Get Commercial Taxi Insurance?

Is It Mandatory to Get Commercial Taxi Insurance?

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.

Why Should You Buy Commercial Taxi Insurance?

Why Should You Buy Commercial Taxi Insurance?

  • 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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Why Choose Taxi Insurance by Digit?

We treat our customers like VIPs, know how…

Customize your Vehicle IDV

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 takes minutes!

Digit’s Motor Insurance Claim Settlement Ratio is 96% for FY’25

Digit’s Motor Insurance Claim Settlement Ratio is 96% for FY’25

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:

  • Smartphone-enabled self-inspection process, with which you can file your claim in minutes!

  • Cashless Claims at over 9000 garages in India, so you can get your two-wheeler fixed without stress. 

  • Everything digital and paperless. No need for hard copies—just upload everything on our app, and you're all set!

What Our Customers Have to Say about Us

4.7/5

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(250K + Customer Ratings)

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quote 17 nov 2024
Quick reaction on Road side assistance and continuous follow up till resolution. Happy with assistance in late night hours.
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Abishek Sharma

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quote 18 Aug 2024
I had issue with the motor insurance policy and wanted to upgrade it. The customer care executive had enough patients to explain me everything point to point. Thanks a lot Sudip.
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Pratheesh R

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quote 18 Sep 2024
I spoke with Sandipa regarding my motor insurance claim through Go Digit General Insurance Ltd. using their Easy Motor Claim Registration process. She was very helpful, informative, and provided excellent support.
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Venkat Raman

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quote 20 Dec 2024
Digit insurance was helpful in registering my motor claim. Smooth process and knowledgeable staff
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Anvesh Allamsetti

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quote 12 May 2024
Was promised road side assistance real quick. Help arrived on time. Thanks Umang
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Subasish Mohapatra

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What's Covered in Commercial Taxi Insurance?

Accidents

Accidents

Damages caused to your taxi/cab in case of an accident.

Theft

Theft

Loss or damage of your taxi/cab due to theft.

Fire

Fire

Damages caused to your taxi/cab due to a fire.

Natural Disasters

Natural Disasters

Damages caused to your taxi/cab due to any natural calamity.

Personal Accident

Personal Accident

If there is an accident of your taxi/cab, leading to an injury or death of the owner.

Third Party Losses

Third Party Losses

Any damages caused by your taxi/cab to a third party or its passengers.

Towing Disabled Vehicles

Towing Disabled Vehicles

Any damages caused to your taxi/cab in cases where it’s being towed.

What’s Not Covered?

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:

Own Damages icon

Own Damages for Third-Party Policy holder

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

Drunk Driving or without a Licence icon

Drunk Riding or without a Licence

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

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Contributory Negligence

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

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Consequential Damages

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)

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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 Taxi Insurance

Choose from the following 9 add-ons available under commercial taxi insurance policy by Digit to get enhanced protection for passenger carrying vehicles.

Consumable Cover icon

Consumable Cover

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.

Zero Depreciation Cover icon

Zero Depreciation Cover

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.

Engine and Gear Box Protect icon

Engine and Gear Box Protect

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.

Breakdown Assistance icon

Breakdown Assistance or Roadside Assistance

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.

Loss of Revenue icons

Loss of Revenue

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.

Additional Towing Expenses

Additional Towing Expenses

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.

EMI Protection Cover

EMI Protection Cover

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.

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Return to Invoice

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. 

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Key and Lock Replacement

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.

Additional Coverages or Endorsements Available

Digit also offers optional covers for commercial cab insurance, which provide enhanced coverage to protect in all circumstances, including:

PA cover icon

Personal Accident Cover

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.

Unnamed PA Cover

Unnamed PA Cover

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.

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Legal Liability

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.

IMT 23

IMT 23

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.

Electrical Accessories icon

Electrical Accessories

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.

Non-Electrical Accessories icon

Non-Electrical Accessories

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.

Special Exclusions & Compulsory Deductibles icon

Special Exclusions & Compulsory Deductibles

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.

Key Features of Taxi / Cab Insurance by Digit

Key Features Digit Benefit
Claim Process  Paperless Claims 
Customer Support  24x7 Support 
Customisable Add-ons  9 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 Taxi Insurance Plans Offered by Digit

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Third-party or Liability Only Plan

The Liability Only Policy covers only cover the injuries or damage caused by your taxi/cab to any third-party person, vehicle or property, including the injury or death of the owner/driver of the vehicle. Also, it is mandatory to have at least a third-party taxi insurance in India.
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Comprehensive or Standard Package Plan

Under a Standard Package Policy, your vehicle is covered against the damage caused due to factors like accidents, fire, theft, natural calamities, etc. This policy also covers injuries or damages caused to any third-party as well as injury or death of the owner/driver of the cab/taxi. It also allows you to choose from a list of add-on covers to enhance protection.

Third-Party vs Comprehensive Taxi Insurance

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.

Liability Only

Standard Package

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How to Buy Taxi Insurance Online with Digit?

Step 1

On the Digit app or website, enter your taxi/cab’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 Taxi 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 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.

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 cab/taxi insurance renewal online 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 Taxi Insurance Policy on Digit App?

How is AI making Digit’s Motor Insurance Claim Process Faster & Smarter

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How is AI making Digit’s Motor Insurance Claim Process Faster & Smarter

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.

  • AI That Sees What You See: When you upload a video of the damage through our app, our AI doesn’t just watch—it analyses. Using advanced image recognition, it assesses the extent of the damage, classifies it, and helps determine the next steps. This means quicker evaluations, fewer delays, and a smoother experience for you.
  • Automated Document Processing: From inspection reports to claim forms, our AI systems automatically sort and process your documents. This reduces manual effort, minimises errors, and speeds up approvals. And with a human-in-the-loop approach, we ensure every claim is handled with both precision and empathy.
  • Automation That Works Behind the Scenes: Our systems also fetch claim details directly from partner platforms, eliminating the need for repetitive data entry. Whether it’s Bulk Policy Issuance or real-time claim registration, automation helps us move faster—so you don’t have to wait.

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69% Motor Repair Work Approvals Done within 12 Hours

69% Motor Repair Work Approvals Done within 12 Hours

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!

Digit Settled 9.16 Lakh Claims with 99.9950% Accuracy in FY'25

The below data is for all the products as given in the table below.

Settled 9.16 Lakh Claims Settled

Settled 9.16 Lakh Claims Settled

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. 

₹4,622 Crore Paid in Claims

₹4,622 Crore Paid in Claims

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.

99.9950% Claims Accuracy

99.9950% Claims Accuracy

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.

Ombudsman Complaints for FY 2024-25

The below information is a summary of escalated claim cases reviewed by the Hon’ble Ombudsman in FY 2024–25. 

LOB Total Claims Paid (in number) Total Claims Amounts Settled Total Complaints that went to Ombudsman Total Complaints where final decision was given Total Complaints Settled via Mediation Total Decisions in favour of Customer
Health (including PA, travel) 2,18,082 ₹1,374.64 Crore 110 86 21 18
Motor(OD + TP, Including theft, PA) 6,51,954 ₹2,199.58 Crore 124 104 28 26
Other LOBs (miscellaneous) 45,642 ₹1,047.34 Crore 22 17 3 3
Grand Total 9,15,678 ₹4,621.56 Crore 256 207 52 47

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.

Ombudsman Complaints for FY 2024-25

The below information is a summary of escalated claim cases reviewed by the Hon’ble Ombudsman in FY 2024–25. 

LOB Total Claims Paid (in number) Total Claims Amounts Settled Total Complaints that went to Ombudsman Total Complaints where final decision was given Total Complaints Settled via Mediation Total Decisions in favour of Customer
Health (including PA, travel) 2,18,082 ₹1,374.64 Crore 110 86 21 18
Motor(OD + TP, Including theft, PA) 6,51,954 ₹2,199.58 Crore 124 104 28 26
Other LOBs (miscellaneous) 45,642 ₹1,047.34 Crore 22 17 3 3
Grand Total 9,15,678 ₹4,621.56 Crore 256 207 52 47

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.

Interesting Claim Stories & Insights from Digit Customers

Dogs Cause ₹1.5 Lakh in Auto Rickshaw Damages in Panvel

In Panvel, owning an auto rickshaw comes with its own set of challenges, but it’s not potholes or traffic that cause the most trouble. It’s dogs. Yes, you read that right. This year, encounters with canines have resulted in repair claims surpassing ₹1.5 lakh, illustrating that sometimes the most significant dangers on the road come with four legs and a wagging tail.
jcb flipped

₹4 lakh claim after Cow topples JCB in Raigad

In Raigad, a JCB operator had a day they’ll never forget. A cow darted across the road, and in the blink of an eye, the machine flipped—yes, flipped. The result? A claim of over ₹4 lakh. It’s not every day you see a JCB somersault, but when the unexpected happens, the right insurance doesn’t hesitate. We step in, cover the damage, and keep the work going.

Types of Taxi/Cabs Covered in a Commercial Taxi Insurance

How to Choose the Right Taxi/Cab Insurance?

Tips to Compare Commercial Taxi Insurance Quotes Online

What are the Factors Affecting Taxi Insurance Premium?

Difference Between Taxi/Cab Insurance and Private Car Insurance

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.

Parameters Taxi Car Insurance Private Car Insurance
Risk Level  Due to its higher usage, a commercial taxi or cab is more at risk of accidents and third-party damage than a car used for personal purposes. Hence, it requires a specialised insurance plan.  A personal car is at a lesser risk of accidents or damage and thus, can be covered under a private car insurance policy.   
Premium  Due to higher risk, usually the taxi insurance online price is also more.  Usually, the premium of a personal car insurance policy is lower than the commercial taxi price due to lesser risk of accidents. 
Additional Endorsements  A taxi insurance policy comes with additional endorsements to cover the specific needs of the commercial vehicle, such as compensation for towing, EMI cover, etc.   Personal car insurance only comes with the 9 add-ons at Digit to provide enhanced coverage, however, they do not offer additional endorsements.  

Report Card

How fast are Digit Insurance Claims Settled?

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 Card

FAQs about Commercial Taxi/Cab Insurance in India