Does commercial vehicle insurance cover damage to my own vehicle?

Yes, only under the comprehensive commercial vehicle insurance policy, damages incurred by the insured vehicle is covered.

Does commercial vehicle insurance cover goods carried in a truck?

No, a standard commercial vehicle insurance does not automatically cover the goods of a truck.

Can commercial vehicle insurance coverage be increased?

Yes, you can extend the coverage of a standard commercial vehicle insurance with appropriate add-ons specifically made for commercial vehicles.

Commercial Vehicle Insurance

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What Does Commercial Vehicle Insurance Cover?

Commercial vehicle insurance provides financial protection against several risks. It usually covers third-party liabilities, accidental damage, theft and damage caused by certain natural or man-made events. The coverage also depends on the type of commercial vehicle insurance you have selected. While third-party insurance covers only third-party person, and property damage, a comprehensive policy covers third-party damages and damages caused to the insured vehicle as well.

General Inclusions Under Commercial Vehicle Insurance

Here is what a standard commercial vehicle insurance covers:

Coverage	What It Covers
Third-Party Liability	Legal liability for covered third-party injury, death or property damage caused by the insured vehicle, subject to applicable law and policy terms.
Accidental Damage	Damage to the insured vehicle resulting from covered accidents, including collisions and overturning.
Theft	Loss of the insured vehicle due to theft, subject to policy conditions.
Fire Damage	Damage caused by covered fire-related events.
Natural Calamities	Insured damage caused by events such as floods, cyclones, storms and earthquakes.
Man-Made Events	Damage caused by specified events such as riots, strikes and malicious acts, where covered under the policy.

Coverage Under Different Types of Commercial Vehicle Insurance

Commercial vehicle insurance companies offer two types of commercial vehicle insurance, and the coverage is different for both of them. Here is what each type of commercial vehicle insurance covers:

Type	Description	Coverage
Third-Party Commercial Vehicle Insurance	It is a liability-only policy that is mandatory as per the Motor Vehicles Act, 1988.	Third-party bodily injury or death liability
		Third-party property damage liability, subject to applicable limits
		Legal liability arising from covered accidents involving the insured vehicle
Comprehensive Commercial Vehicle Insurance	It is a package policy that covers both third-party liabilities and damages caused to the insured vehicle.	Third-party liability
		Accidental damage to the insured vehicle
		Theft or total loss
		Damages due to natural and man-made disasters

How to Extend Coverage of Commercial Vehicle Insurance?

Since comprehensive commercial vehicle insurance might not be sufficient to cover several damages, it is important to increase the coverage of your standard policy with commercial vehicle insurance add-ons. Here are some common add-on covers that may be helpful:

Add-on Cover	Description
Zero Depreciation Add-On for Commercial Vehicles	It reduces depreciation deductions on eligible replaced parts during an admissible claim, helping lower out-of-pocket repair expenses.
IMT 23 Add-On Cover for Commercial Vehicles	It covers uninsured parts of a commercial vehicle, such as tyres, tubes, mudguards, bumpers, bonnet, headlights, etc
RSA Cover for Commercial Vehicles	It provides specified emergency services, such as towing, battery jump-starts and minor roadside repairs, depending on the insurer.
RTI Cover for Commercial Vehicles	It covers the full invoice cost of the commercial vehicle instead of just the IDV, in case of a constructive total loss / theft.
Consumables Cover for Commercial Vehicles	It covers specified consumables, such as nuts, bolts and lubricants, used during eligible vehicle repairs.

What Is Not Covered Under Commercial Vehicle Insurance?

Some of the common exclusions under commercial vehicle insurance are mentioned below:

Normal wear and tear
Mechanical or electrical breakdown
Consequential engine damage
Driving without a valid licence or under the influence of intoxicated substances
War and nuclear risks
Contractual liability

FAQs

What does commercial vehicle insurance cover?

As per the type of your policy, commercial vehicle insurance covers third-party liabilities, accidental damage, theft, fire and damage caused by specified natural or man-made events.
Does commercial vehicle insurance cover damage to my own vehicle?

Yes, only under the comprehensive commercial vehicle insurance policy, damages incurred by the insured vehicle is covered.
Does commercial vehicle insurance cover goods carried in a truck?

No, a standard commercial vehicle insurance does not automatically cover the goods of a truck.
Can commercial vehicle insurance coverage be increased?

Yes, you can extend the coverage of a standard commercial vehicle insurance with appropriate add-ons specifically made for commercial vehicles.

Commercial Vehicle Insurers

Bajaj Commercial Vehicle Insurance

Cholamandalam Commercial Vehicle Insurance

Generali Central Commercial Vehicle Insurance

Godigit Commercial Vehicle Insurance

ICICI Lombard Commercial Vehicle Insurance

IFFCO Tokio Commercial Vehicle Insurance

IndusInd General Commercial Vehicle Insurance

Magma HDI Commercial Vehicle Insurance

National Commercial Vehicle Insurance

New India Assurance Commercial Vehicle Insurance

Oriental Commercial Vehicle Insurance

Royal Sundaram Commercial Vehicle Insurance

SBI Commercial Vehicle Insurance

Shriram Commercial Vehicle Insurance

TATA AIG Commercial Vehicle Insurance

United India Commercial Vehicle Insurance

Zuno Commercial Vehicle Insurance

Zurich Kotak Commercial Vehicle Insurance

Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in