Commercial Truck/Lorry Insurance
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Disclaimer:Tata Capital Limited (“TCL”) registered with IRDAI (License No. CA0896, valid till 21-Jan-2027), acts as a Corporate Agent “Composite” for Go Digit General Insurance Limited. Please note that, TCL does not underwrite the risk or act as an insurer. For more details on the risk factors, terms and conditions please read sales brochure carefully of the Insurance Company before concluding the sale. Participation to buy insurance is purely voluntary.

The Registered office of TCL is Tata Capital Limited, 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam, Marg, Lower Parel, Mumbai-400013.
The Registered Office of Go Digit: Go Digit General Insurance Limited, 1st Floor, Fairmont, Hiranandani Business Park, Powai, Mumbai – 400076.
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Truck Insurance/Lorry Insurance Price & Renewal Online in India

Commercial vehicles such as trucks and lorries are extremely useful in logistics and for transporting goods, which makes it important to secure these commercial vehicles with the best truck insurance policy.

Here’s everything you need to know about buying/renewing insurance of truck in India in 2025.

what is truck insurance

What is Truck Insurance?

Truck insurance is a type of commercial goods carrying vehicle insurance policy customized to insure trucks that are used within business functions such as for trucks used for delivery purposes, pick-ups and goods transportation, amongst others.

Truck insurance is vital for any business as it financially protects the commercial trucks and lorries from any damage that can be caused due to accidents, collisions, natural calamities, fires, and thefts.

The significant size and weight of trucks and the higher risk of accidents can result in more severe damage and injuries in the event of an accident. So, Digit truck insurance online policy comes with better coverage, more additional endorsements and affordable 6-wheeler truck insurance price.

How Does Truck Insurance Work?

Truck Insurance is a type commercial vehicle insurance that is a contract between you and the insurance company. You pay a small amount as the premium and in turn the insurer provides you with financial protection for your vehicle against damages due to accidents, natural disasters, theft, and other unforeseen events. Here's how it works

Choose a Policy

You choose the type of truck insurance plan, including the appropriate add-ons that suit your needs and budget

Buy or Renew Policy

As per your chosen truck insurance plan, you can buy or renew auto rickshaw insurance online instantly with Digit

Pay Premium

After purchasing the policy, you have to pay regular payments or truck insurance premium to the insurance company, either annually or in installments.

File a Claim

File a claim with your insurer and provide the required documents. After damage assessment, the insurer will settle the claim as per the policy terms.

why should you buy truck insurance online

Why Should You Buy Truck Insurance Online?

  • Protects Your Truck Business - If you’re running a business, chances are you have at least one or more trucks as part of your operations. So, having insurance of trucks means your business is protected from any losses that can be caused due to any minor or major accident, collision and even natural calamity. This also means you’ll avoid any possible downtime, maintain a profit margin and can instead spend money on your business growth.
  • Mandatory by Law - As a mandate by law, it is compulsory to at least have a Liability Only policy in place that protects third parties against any damage and losses that could be caused by your truck. However, given the risks trucks can be faced with, it’s always better to have a standard package policy that will protect your own truck and owner-driver as well.
  • Ensures Passenger Safety - Get lorry insurance online to ensure the safety of your passengers. You have the option to opt for a passenger cover if you take a Comprehensive Commercial Vehicle Insurance. This won’t only ensure your passengers are protected too but gives you more credibility as a responsible business and/or driver.
types of trucks

Different Types of Vehicles Insured under Truck Insurance by Digit

All trucks used for commercial purposes can be covered under Digit’s Commercial Vehicle Insurance. These trucks can be broadly classified into the following:

  • Mini Trucks: Mini trucks are one of the smallest types of trucks available. Commonly used for commercial, hyperlocal and local pickups such as the famous Ashok Leyland Dost you may have often seen on Indian roads.
  • Light Trucks: Light trucks are types of trucks commonly used to transport goods from one city to another. For example, a lot of e-commerce players in the market today often use light trucks for daily transportation. 
  • Medium Trucks: As the name suggests, medium trucks are slightly bigger than your usual pickup trucks a.k.a light trucks. These trucks are usually used for transportation of larger goods such as furniture, garbage dumps, etc.  
  • Off-Road Trucks: Off-road trucks are heavy duty trucks used mainly for car towing and construction purposes.

Why Choose Commercial Truck 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!

Key Features of Truck Insurance by Digit

Key Features Digit Benefit
Claim Process  Paperless Claims 
Customer Support  24x7 Support 
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 

What's Covered in Truck Insurance by Digit?

Accidents

Accidents

Damages caused to the truck in case of an accident

Theft

Theft

Loss or damage to the truck due to theft

Fire

Fire

Damages caused to your truck due to a fire

Natural Disasters

Natural Disasters

Damages caused to your truck due to any natural calamity

Personal Accident

Personal Accident

If there is an accident of your truck, leading to an injury or death of the driver

Third Party Losses

Third Party Losses

Any damages caused by your truck to a third-party person, vehicle or property

Towing Disabled Vehicles

Towing Disabled Vehicles

Any damages caused by your truck during vehicle towing

What’s Not Covered in Truck Insurance by Digit?

It is equally important to know what’s not covered in your commercial insurance policy for truck 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, damages to 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 for truck is drunk or driving without a valid licence.

Contributory Negligences icons

Contributory Negligence

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

Consequential Damages icon

Consequential Damages

Any damage which is not a direct result of the accident (e.g. after an accident, if the damaged truck is being used incorrectly and the engine gets damaged, it will not be covered)

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 Truck Insurance by Digit

Digit offers the following 8 add-ons with the truck insurance policy to provide enhanced protection.

Consumable Cover icon

Consumable Cover

Get this consumable add-on if want to cover the cost of your truck’s bits and pieces, like its nuts and bolts, screws, engine oil, and grease in case of damage or loss due to an accident.

Parts Depreciation Protect

Zero Depreciation Cover

If you have zero depreciation add-on cover, then the depreciation on your vehicle and its components will not be deducted at the time of claim. This means you can claim the total cost of replacement of damaged truck parts and save a huge amount.

Engine and Gear Box Protect icon

Engine and Gear Box Protect

This add-on covers any consequential damage caused to your vehicle's engine or gearbox after the accident, which may occur due to water regression or leakage of lubricating oil.

Breakdown Assistance icon

Breakdown Assistance or Roadside Assistance

In case your truck faces a breakdown on the road due to an accident, flat tires, malfunctioning battery, or any other factor, Digit will have your back with the breakdown assistance add-on as it assists you 24x7.

Loss of Revenue icons

Loss of Revenue

If you or your business face any loss of income when your truck is not in service and is being repaired due to damage, this add-on will compensate you for that amount, as per your lorry insurance policy.

Additional Towing Expenses

Additional Towing Expenses

As the name suggests, this add-on compensates you for the additional expenses incurred when your truck is being transported from the accident spot to the nearest garage or place of safety.

EMI Protection Cover

EMI Protection Cover

In case your business faces a loss when your damaged truck is getting repaired in a garage, this add-on comes in handy. EMI Protection cover helps you pay regular EMIs to the financier of the vehicle recorded with the insurer, if your commercial truck is on loan.

Debris Removal Expenses

This add-on cover compensates you for the amount you have spent on cleaning up, removing debris, wreckage, or transhipment of goods from your insured truck to another truck, in case the insured vehicle is damaged or suffers from accidental loss. The maximum amount is paid up to the Sum Insured opted by you.

Additional Coverages or Endorsements Available with Truck Insurance by Digit

You also get optional covers for lorry/truck insurance online for enhanced coverage to protect in all circumstances. These include:

  • Personal Accident Cover
  • Unnamed PA Cover
  • Legal Liability Cover
  • IMT 23 Cover
  • Electrical Accessories Cover
  • Non-Electrical Accessories Cover
  • Special Exclusions & Compulsory Deductibles Cover

Truck Insurance Plans by Digit that Fit Your Needs

Third-Party Plan

A Third-party insurance is one of the most common types of truck insurance; in which only damages & losses caused to a third-party person, vehicle or property are covered.

Comprehensive Plan

A Comprehensive insurance is one of the most valuable types of truck insurance that covers both third-party liabilities and damages to your own truck as well.

Differece between Third-Party vs Comprehensive Truck Insurance

Liability Only

Standard Package

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Third Party Premium for Goods Carrying Vehicles – Private Carriers (except 3-wheelers)

Here is the truck insurance price list for third-party policy, which is fixed by IRDAI as of 2024.

Engine Capacity Premium Rate (effective 1st June 2022)
Not exceeding 7500 kg  ₹16,049 
Exceeding 7500 kgs but not exceeding 12,000 kgs  ₹27,186 
Exceeding 12,000 kgs but not exceeding 20,000 kgs  ₹35,313 
Exceeding 20,000 kgs but not exceeding 40,000 kgs  ₹43,950 
Exceeding 40,000 kgs  ₹44,242 

How to Buy/Renew Truck Insurance Online with Digit?

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Enter Truck Details

On the Digit App or website, enter car registration number and select the policy status.

Choose a Plan

Select the type of Truck insurance plan and choose desired add-ons.

Enter Personal Details

Enter your personal, nominee and vehicle details, and move to the next step.

Make Payment

Complete the payment and mandatory KYC verification process.

That's It!

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

commercial truck insurance for my business

Is It Necessary to Buy Truck Insurance for my Business?

Yes, according to the Motor Vehicle Act, it is mandatory for all vehicles to at least purchase a Liability Only policy, one that protects and covers for financial losses in case your truck causes damages and losses to a third-party vehicle, property or person. Without a basic truck insurance in place, none of your trucks will be legal to drive around India.

However, owing to the huge size and frequent use of trucks, a Standard Package Policyis the best for truck-business owners, that will not only protect third-party damages but also cover for losses caused to one’s truck and the owner-driver.

How to Choose the Best Truck Insurance Policy?

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 insurance for your truck:

  • Right Insured Declared Value (IDV): IDV is the manufacturer’s listed selling price of the commercial vehicle you want to insure. Your premium will be dependent on this. While looking for the right truck 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 truck, 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 Lorry/Truck Insurance Quotes Online?

It can be tempting to pick the cheapest truck 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, trucks 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:

  • 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 24x7 Customer Care Support and Cashless Garages among other services.
  • 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. Most of Digit’s claims are settled within 30 days! Additionally, we have a zero-hardcopy policy, which means we only ask for soft copies. Everything is paperless, quick and hassle-free!
  • Check your IDV: A lot of insurance quotes online will have a low IDV (Insured Declared Value), i.e. the manufacturer's listed selling price. 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 truck insurance policy online.
  • Best Value: Finally, pick a truck insurance that gives you a fair combination of it all. The right price, services and of course, quick claims!

What are the Factors Affecting Truck Insurance Premium?

  • Model, Engine & Make of the Truck: When it comes to any kind of motor insurance, the model, make and engine has a big role to play in determining the right truck insurance price! Similarly, your make, model and manufacturing year of the truck too will have an impact on your truck insurance premium. 
  • Type & Purpose of Truck: There are a variety of trucks businesses use for different purposes. Your truck insurance premium could range on different scales, depending on the type of truck and its purpose. For instance, a goods carrying truck will have a higher insurance premium than that of a small pick-up truck. This is because a goods carrying truck would be larger and liable on the value of goods it carries. 
  • Location: The location of your truck will obviously have a huge role to play in deciding your truck insurance premium. So, whether your truck is registered and will operate in a metropolitan city, hilly area or a small city. All these factors would be considered in deciding your truck insurance premium.
  • No-Claim Bonus: If you’ve already had truck 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 the insurer hasn’t had a single claim in the previous policy term.
  • Type of Truck Insurance Policies: Your truck insurance premium will 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-driver. Whereas a standard package policy may be higher in premium but would also cover damage and losses to our own truck and its driver respectively.

FAQs about Truck Insurance Online in India