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

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

Get complete coverage for your vehicle with

IMT 23 Nil depreciation

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-Bonus

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	Percentage
Nylon, Rubber, plastic parts, tyres and tubes, air bags, and batteries	50%
Fibre glass components	30%
Parts made of glass	Nil
Paint material	50%

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	Nil
6 months to 1 year	5
1 to 2 years	10
2-3 years	15
3-4 years	25
4-5 years	35
5-10 years	40
<10 years	50

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

Protect your most valuable assets.

Cover driver, helper and conductor with your vehicle’s insurance.

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

Prevent unnecessary losses to your business.

Get instant plans for your commercial vehicle

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

Q1. Who can buy a National Commercial Vehicle Insurance Policy?

Motor Insurance buyer should be a registered owner of the vehicle to avail health insurance benefit for any liabilities caused or arising due to the insured vehicle. For own damage cover, a comprehensive health cover is required.
Q2. What is a No Claim Bonus or NCB in a National commercial vehicle insurance policy?

If you have made any claims in your policy period, NCB is added to your next policy period at the time of renewal. No Claim Bonus can also be transferred at the time of switching the policy.

You can earn No-claim-discount up to 20% for the first claim-free policy renewal.25% in the second year and up to 50% for 5 consecutive claim-free years and so on.

You can opt for NCB retention cover by paying a small amount of premium.
Q3. If I have CNG/LPG kit fitted in my vehicle, but I have not endorsed it in the RC book, will it still be covered in my policy?

Commercial vehicle insurance will only be issued if it is incorporated on the Vehicle’s Registration Certificate (RC) by the Regional Transport Office.
Q4. What documents are required to file National commercial vehicle insurance claims?
You need to submit the following documents register claim for National commercial vehicle insurance claims:
- Fill and sign your claim form
- Original copy of the driving license
- Vehicle registration certificate
- Fitness certificate
- Tax paid receipt
- Load challan of your commercial vehicle
- Original insurance policy papers
- Aadhaar card copy
- Route permit
- FIR Copy