Commercial vehicle insurance is a specialised policy designed to protect vehicles used for business purposes—such as taxis, goods carriers, delivery vans and construction vehicles. Unlike personal car insurance, this policy covers commercial risks including third-party liabilities, own damage, driver injuries, goods-in-transit (optional) and legal liabilities arising from accidents.

Depending on your needs, you can opt for basic third-party cover or a comprehensive plan that includes theft, natural disasters and accidental damage. Businesses operating fleets can also benefit from group policies for multiple vehicles.

Bajaj General Insurance offer flexible plans that can be tailored with add-ons such as zero-depreciation, roadside assistance and engine protection. The wide network of 7,200+ cashless garages ensures minimal downtime and hassle-free repairs. If your business depends on vehicles, having the right car insurance coverage is not just smart—it’s essential for operational continuity and financial safety.

Commercial motor insurance is a specific type of insurance designed to protect businesses that operate vehicles for commercial purposes. Unlike personal auto insurance, it covers these workhorse vehicles' unique risks and liabilities. It financially safeguards your business in case of accidents, thefts, damages, or third-party liabilities.

Commercial Vehicle Insurance Coverage

What’s in it for you

●        Cover for your employees and drivers of the vehicle

●        Round-the-clock assistance

●        Quick Policy issuance

Who Needs Commercial Vehicle Insurance in India?

In India, commercial motor insurance is legally mandatory for any vehicle used for commercial purposes. This includes a wide range of vehicles, such as:

●        Trucks & Lorries

●        Buses

●        Taxis & Cabs (including Ola, Uber)

●        Three-wheelers (Auto Rickshaws)

●        Commercial Vans

Even if you operate a single commercial vehicle, proper insurance is crucial to protecting your business assets and ensuring financial security.

Why Do You Need a Commercial Vehicle Insurance Policy?

Commercial taxi insurance policy offers a safety net for your business in several ways:

Financial Protection :

It covers repair costs for your vehicle in case of accidents, thefts, fire, or natural disasters, preventing financial strain on your business.

Third-Party Liability Coverage :

It safeguards your business from legal and financial liabilities if your vehicle causes injury or property damage to others.

Driver Protection :

Some plans offer coverage for the driver's medical expenses in case of an accident.

Peace of Mind :

Knowing you have proper insurance coverage allows you to focus on running your business with reduced worries about unexpected financial burdens.

Types of Commercial Vehicle Insurance

Commercial Vehicle Insurance offers various coverage options to suit your specific needs. Here are some common types:

Third-Party Liability (TP) Insurance :

This is mandatory by law and covers any injuries or property damage caused to a third party by your commercial vehicle.

Comprehensive Coverage :

It offers more extensive protection, including coverage for your vehicle against theft, fire, natural disasters, and collisions, as well as third-party liability.

Add-on Covers :

You can customise your policy with add-on covers like driver accident protection, passenger cover, and roadside assistance for enhanced protection.

Accident-Related Injury or Death to Other People.

Regardless of how an accident occurs, the loss of life is irreparable. The law requires that victims of accidents be given adequate and fair compensation if they sustain permanent injuries or suffer loss of life. You can ensure that your liability is limited by opting for a policy covering such risks.

Accident-related Damage to Other People's Property

Bajaj General Third Party Insurance plans help you make good any damages to third-party property. This includes damage to infrastructure such as office premises, machinery etc.

There is one thing that you would want to steer away from: policy expiry. It can expose you to all of these risks that you and your business need protection from. Staying insured lets you go from just surviving to thriving!

Car Insurance Premium

A car insurance premium is the amount you pay to your insurer for financial protection against road risks. It’s influenced by several factors including the car's make, model, age, usage type (private/commercial), engine capacity and location. The chosen policy—third-party or comprehensive—also plays a key role.

Add-ons like zero-depreciation, NCB protectionor engine cover can increase the premium but offer broader car insurance coverage. To ensure peace of mind and cost-effectiveness, insurers like Bajaj General Insurance offer competitive premiums with maximum value, supported by 7,200+ cashless garages across India.

Why Choose Commercial Vehicle Insurance from Bajaj General?

Bajaj General is a leading provider of commercial taxi insurance online, offering:

●      Wide Range of Plans: Choose from various plans to suit your specific vehicle type and business needs.

●      Competitive Premiums: Get competitive quotes and flexible payment options.

●      Extensive Network: Access a vast network of cashless garages for repairs, minimising downtime.

●      24/7 Customer Support: Get prompt and efficient assistance anytime, anywhere.

Ever since the wheel was invented, the world has never been the same. From pizza to aircraft parts, commercial goods-carrying vehicles are the lifeblood of modern businesses worldwide. The refreshing cup of Assam tea on your table right now would probably have traversed thousands of kilometres to reach you!

●        Cab aggregator services that make your commute to the office pleasant or passenger-carrying vehicles that shuttle tourists from sun-kissed beaches to historic palaces, are services that one cannot imagine life without!

●        Globally, businesses depend on commercial vehicles to deliver value to their customers. As a business owner, risks represent new opportunities; however, they also come with costs such as road accidents which can happen without warning.

●        If you run a hotel or transport business, for example, your bread and butter depends on the smooth functioning of your fleet of commercial vehicles. If an unfortunate accident does occur, chances are you may end up staring at a huge loss of revenue, often due to legal troubles. Not to mention, the consequential losses - dissatisfied customers and lost business opportunities!

●        Commercial Vehicle Insurance helps mitigate such losses by protecting your business against third-party liabilities. While accidents are hard to predict, Commercial Vehicle Insurance can save you from having to bear the costs of litigation as a consequence of it.

●        The Motor Vehicles Act requires every commercial vehicle to be equipped with motor insurance compulsorily. It is illegal for vehicles to ply on the roads without at least a third-party liability insurance coverage. This is why it has been termed as “Act Only Cover”.

●        At Bajaj General, we make the process of choosing the right insurance for your needs simple. As a trusted provider of Commercial Vehicle Insurance since 2001, we leverage world-class domain expertise and service delivery to support our customers across the country.

●        We’re here to cover you against any third party liability that may arise out of an accident. From application to claim settlement, you can pick and choose from a range of services relating to Commercial Vehicle Insurance online. Our innovative approach to serving you has brought us recognition as the Best general insurance Company at the World Quality Congress 2018.

●        When disaster strikes, it all happens in a split second. We have made our insurance claim process and policy renewal speedy and responsive to your time sensitive needs. With Bajaj General by your side, you are covered against everything from severe damages to permanent disability suffered by third parties. The result: freedom from lengthy lawsuits and related expenses.

●        Our cashless claim settlement process takes just a few minutes to complete and helps you get on with serving your customers. Our customer service teams work round the clock to deliver customized solutions, keeping you on the road to success.

●        Whether you are a small business owner or a large enterprise, with Bajaj General, you get transparent, reliable and efficient Commercial Vehicle Insurance coverage anywhere in India. Our website lets you choose from a wide range of Commercial Vehicle Insurance solutions online.

●        It is designed to give you all the information and tools you need to make the right choices for securing Commercial Vehicle Insurance. Don’t forget to do your bit for the environment by going paperless; get insurance quotes, update claim forms, renewals and more, at the click of a mouse!

●        Depending on the extent of damage, the costs of an accident can be quite substantial. At Bajaj General, we give you a reason to smile, knowing that it will all be taken care of!

●        A Commercial Vehicle Insurance Policy also helps turn your business risks into opportunities for fuelling growth.

Safeguard the third party liability arising out of your vehicles with our offerings.

Basis of Arriving at Insured Declared Value (IDV) of the Insured Vehicle:

List of products specified in the list above are governed by the Indian Motor Tariff.

The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured’ and it will be fixed at the commencement of each policy period for each insured vehicle.

The IDV of the vehicle (and accessories if any fitted to the vehicle) is to be fixed on the basis of the manufacturer’s listed selling price of the brand and model of the insured vehicle at the commencement of the Policy. The IDV shall change according to the depreciation grid below for each block of one year within the policy period.

The Schedule of Depreciation for Fixing IDV of The Vehicle

The age-wise depreciation schedule shown above is applicable only for Total Loss/Constructive Total Loss (TL/CTL)/Cash Loss claims.

IDV of vehicles beyond 5 years of age and for obsolete models (i.e. models that manufacturers have discontinued) is to be determined on the basis of mutual agreement between the Insurer and the Insured.

IDV shall be treated as the Market Value throughout the Policy Period without any further depreciation for the purpose of Total Loss (TL)/Constructive Total Loss (CTL)/Cash loss claims.

Basis of Arriving at TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle:

The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and/or repair of the vehicle, exceeds 75% of the IDV of the vehicle, subject to terms and conditions of the policy.

The liability of the Company shall not exceed the Insured's Declared Value (IDV) of the vehicle in the event of total loss/ constructive total loss/cash loss for the year in which loss has occurred. IDV as on date of loss shall be computed as specified under basis of arriving at Insured Declared Value (IDV)

If a damaged motor vehicle is assessed as being unrepairable and hence a wreck i.e. a ‘total loss’ or ‘write-off’, You shall have the option to retain the wreck and accept a ‘cash loss’ settlement (being the IDV less the assessed value of Salvage based on competitive quotes procured by the Insurer including any submitted by or through the Policyholder).

Note: For the purpose of computation TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle aggregate cost of retrieval shall mean Company’s aggregate liability as per the terms and conditions of the policy.

*For a detailed information please download the policy wordings document.