TrueInsureAgent
8
Commercial Vehicle
Goods carriage needs a valid permit and fitness certificate

Cover for vehicles that earn money — trucks, taxis, tempos, buses and delivery fleets. Rated on gross vehicle weight, permit type and route, not on the vehicle price. The part operators underestimate is legal liability to employees and to the goods being carried.

₹18,400
from, light goods vehicle
12%
fleet discount above 5 vehicles
₹15 L
compulsory PA cover for the owner-driver

Illustrative figures until sourced from the insurer of record.

What it covers

Own damage

Accident, fire, overturning

Third-party liability

Unlimited for injury or death

Driver and cleaner cover

Legal liability to paid staff

Goods in transit

Separate cover, worth adding

Plans

Six light goods vehicles, all-India permit, fleet rate

Premiums and claim-settlement ratios are illustrative until sourced from the insurer of record.

Commercial Vehicle Package

94.6% settled
IFFCO Tokio

Strongest on goods-carriage claims and the largest highway garage network. Handles tribunal defence in-house.

₹1.08 L
a year, fleet
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Commercial Motor

93.7% settled
New India Assurance

PSU insurer with the widest reach in tier-two routes, which matters when a truck breaks down far from a city.

₹1.14 L
a year, fleet
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Fleet Shield

96.2% settled
ICICI Lombard

Cheapest and the best telematics reporting, but loss-of-earnings cover is an add-on rather than standard.

₹98,400
a year, fleet
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What it will not pay for

Read this before you buy.

  • Driving with an expired permit, fitness certificate or pollution certificate
  • A driver holding the wrong licence class for that vehicle category
  • Overloading beyond the registered gross vehicle weight
  • Operating outside the declared route or permit radius
  • The goods themselves — that needs separate marine or transit cover
How a claim works

A commercial vehicle claim is also an employment and a regulatory matter. The driver’s licence class, the permit and the fitness certificate are all checked before the damage is even assessed.

  1. 01

    FIR and intimation

    · immediately

    For any injury or third-party damage, an FIR is compulsory. Note the driver’s licence number and licence class at the scene.

  2. 02

    Documents verified first

    · 1–2 days

    Permit, fitness certificate, pollution certificate and driver licence. Any one expired and the insurer can decline before even looking at the damage.

  3. 03

    Survey and assessment

    · 2–5 days

    Assessed on repair cost plus, if you bought it, loss of earnings while the vehicle is off the road.

  4. 04

    Settlement, and the tribunal

    · 2–6 weeks

    Own damage settles in weeks. Third-party injury claims go to the Motor Accident Claims Tribunal and can run for years — the insurer defends them for you.

The common mistake

Insuring the vehicle and not the cargo. A tempo worth ₹8 L routinely carries ₹20 L of stock, and motor cover pays nothing towards the load. Goods-in-transit cover costs about ₹42,000 a year.