National Commercial Vehicle Insurance

National Insurance Company Limited provides motor insurance for commercial vehicles in India. The insurer provides an Annual Package policy for Goods Carrying / Passenger Carrying vehicles and Annual Liability only policy for Goods carrying/ Passenger Carrying vehicles. National commercial vehicle insurance policies are designed to offer extensive cover at a premium that is easy on the pocket for the buyers. Read more

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General Inclusions in National Commercial Vehicle Insurance Policy

The National commercial vehicle insurance policy covers accidental damages and related expenses include third-party liabilities. Add-on covers can also be availed and the details are given below:

National Commercial Vehicle Insurance Third-Party Liability Cover (as per the Motor Vehicle Act)

National commercial vehicle insurance premium for third-party liabilities is lesser than the package policy. It is essential to have third-party cover and the benefits are given below:

  • Third-party property damage cover is provided up to Rs 7.5 Lakh
  • Unlimited coverage is provided in case of third-party bodily injuries or death
  • Death or bodily injury to any person travelling in the vehicle ( not applicable to insured’s employees)

Comprehensive Vehicle Damage Cover

National commercial vehicle insurance price for comprehensive cover is a little on the higher side as it covers both own damages and third-party liabilities. The benefits of own damage cover is listed below:

  • Any damage caused to the vehicle due to fire, accident, collision, self-ignition, fire and, lightning
  • Natural calamities like floods, earthquakes, cyclone, etc.
  • Malicious act, riots, strikes, terrorist activities
  • Loss airing due to theft, burglary, explosion, and house-breaking
  • Whilst in transit by road, rail, air, and elevator

Add-on covers in National Commercial Vehicle Insurance Policy

By paying an additional premium following add-ons can be purchased:

  • Personal accident cover for owner/ driver or unnamed passengers
  • Invoice Protect Cover
  • Zero Depreciation Cover
  • NCB Protection Cover
  • Engine Protection Cover


No- claim discounts on Own damage premium are available on renewal of Package policy, ranging from 20% to 50%, depending upon the number of consecutive claim-free years.

Compulsory Deductibles

Compulsory deductibles are the amount that needs to be borne by the policyholder at the time of every claim settlement. The deductible amount for Commercial vehicles can be Rs 500, Rs 1000, and Rs 1500 depending upon the passenger-carrying capacity and GVW.

Depreciation on Parts

For partial loss claim the depreciation on commercial vehicle parts is applicable as given below:

Rate of Depreciation


Nylon, Rubber, plastic parts, tyres and tubes, air bags, and batteries


Fibre glass components


Parts made of glass


Paint material


Depreciation applicable for all other parts including wooden parts is to be as per the following schedule:


Vehicle’s Age

Depreciation (%) For Fixing IDV

Up to 6 months


6 months to 1 year


1 to 2 years


2-3 years


3-4 years


4-5 years


5-10 years


<10 years


Exclusions of National Commercial Vehicle Insurance Policy

Claims related to the following commercial vehicle related claims are not covered:

  • ​Electrical and mechanical breakdown of the commercial vehicle cannot be claimed
  • General wear and tear of the goods and passenger carrying vehicles are not claimable
  • Use of a commercial vehicle for private use shall not be covered
  • Driving under the influence of intoxicating substance, alcohol or drugs is excluded from benefits
  • If at the time of the accident, the owner-driver was found to be driving without a valid driving license then the claim is rejected
  • Loss or damage due to nuclear risks or war conditions
  • Consequential losses are not covered
  • Compulsory deductibles
  • Depreciation Cover is not valid on total loss claim and theft claims

How to file a National Commercial Vehicle Insurance Claim?

Commercial vehicle insurance claim with National Insurance Company can be made in a hassle-free manner by following these simple steps-

  • Immediately call their helpline number to register your claim. It should be done as soon as the incident occurs.
  • The claim settlement process will be initiated as soon as you furnish the following details to the insurer. It includes -
  • Name of the insured person
  • Policy number
  • Vehicle make and model
  • Vehicle number
  • Date and time of the accident
  • Contact Details
  • A brief description of the incident
  • Location of the incident
  • Extent of loss
  • Name of the Garage
    • Take the damaged vehicle to the registered garage for damage repairs and submit all the required documents to the surveyor. Copy of permit & fitness certificate needs to be submitted
    • The vehicle will be inspected, and the claim and liabilities will be approved by National Insurance Company Limited. Repair work will not be carried out without an inspection. Kindly cooperate during the inspection
    • If you opt for cashless settlement, you can get your vehicle repaired at a network garage. The insurer will settle the bill ( up to the payable amount)
    • Submit the self-attested copy of the RC book, driver’s license, and duly filled claim form to the garage.
    • If you have not opted for a cashless claim settlement, you need pay the damage repair charges at the garage.  You can submit these bills to the surveyor for claim settlement or reimbursement.

Once the claim is settled, you can take the repaired vehicle from the network garage.

For theft claims -

  • File a Policy FIR
  • Inform the Policy and the RTO
  • Obtain a claim form and submit it after duly completing it
  • Submit the summons from the court as soon as you receive it
  • Claim Form along with Driving license, RC, and FIR needs to be submitted

National Commercial Vehicle Insurance Renewal

The renewal of commercial vehicle insurance policy can be done online on Policybazaar’ website and the process is given below:

  • Submit the vehicle number
  • And click on view prices
  • Or you can choose to proceed without the vehicle number
  • Select the City and the RTO
  • Get the vehicle insurance quotes and premium estimate based on the details provided
  • Enter personal details like the insured’s name, contact number, geographical location, address, etc.
  • Make the payment online and vehicle insurance purchase is completed
  • The policy can be downloaded as well emailed on the registered id

National Commercial Vehicle Insurance FAQs

Written By: PolicyBazaar

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