Commercial Truck Insurance Plans

Name: Commercial Truck Insurance Plans
Brand: IndusInd General Insurance
Rating: 4.9 (310 reviews)

Trucks are among the most common commercial vehicles used in India for business operations. Reports also indicate that the domestic sales of commercial vehicles in India was approximately 9 lakhs for FY 2024-25, with trucks contributing a significant percentage of these sales. However, with more trucks on the road, the risk of damage to your truck and the surrounding vehicles is higher. This is where truck insurance comes into play.

With the right insurance for trucks, businesses and truck drivers can benefit from necessary financial protection. Plus, you get coverage during unforeseen events that can otherwise result in hefty expenses.

IndusInd General Insurance understands the unique challenges faced by truck owners and fleet operators. Our comprehensive commercial truck insurance is designed to protect your vehicles, safeguard your finances and ensure your business operations continue running smoothly—even in the face of the unexpected.

What Is Truck Insurance?

Commercial truck insurance is a type of commercial vehicle insurance. It provides financial protection to goods vehicles such as commercial carrier trucks, lorries or pick-up trucks.

Under commercial lorry insurance, you get coverage for any damage to your vehicle due to floods, accidents, earthquakes, riots, theft, vandalism and other associated risks that come with truck operations.

Additionally, you get coverage for third-party liabilities in case your truck damages a third party or their property.

With an IndusInd truck insurance policy, you can ensure your business is compliant with the law and get coverage for your fleet without worrying about financial loss.

Why Companies Choose IndusInd Commercial Vehicle Insurance?

IndusInd Commercial Vehicle Insurance is a dependable choice for businesses seeking swift policy issuance, trusted claims support and India-wide accessibility of services.

Quick Policy Issuance*

Just apply, pay and download!

Quick Claim Settlement

High Claim Settlement

24/7 Customer Support*

Covered up to sum-insured (100%)

11,000+ Network Garages*

Quick cashless claims pan-India

Why is Having Truck Insurance Necessary in India?

Legal Compliance

Third-party insurance is mandatory for all commercial trucks and other carrier vehicles to drive in India. If you are found without this insurance policy, you will have to pay heavy fines and may even face imprisonment in some cases.

Financial Protection for Truck Damages

Regardless of how careful your employees are while driving, certain accidents can cause significant damage to your vehicle. In such situations, truck insurance comes in handy as it covers repair costs for your truck.

Coverage for Third-Party Liabilities

With truck or motor carrier insurance, you get coverage for third-party liabilities. These include damages caused to another person or their property due to your truck. These damages can result in major legal liabilities that may harm your business operations, so having truck insurance is essential.

Customisation Flexibility

To personalise your truck insurance, you can combine different add-ons with your base policy and benefit from increased coverage. You can choose as many add-ons as required to meet your specific business needs and requirements.

Personal Accident Cover

In case of accidental injuries or death, truck insurance provides personal accident coverage for drivers. It covers the medical expenses for medical treatment or provides compensation to the family in case of the driver's unfortunate death in an accident.

Business Continuity

With truck insurance, you can keep your business running smoothly. This is because it helps you manage accidental damage to your trucks and any financial loss incurred because of that damage with proper coverage. This way, you can continue operations without major disruptions or delays in your work.

Key Features of IndusInd Commercial Truck Insurance

Key Features	Details
Coverage	Third-Party + Own Damage Coverage (bundled under one plan)
Premium Discounts	Up to 90%** + Up to 50%* NCB discount
Personal Accident (PA) Cover	Up to ₹15 lakhs + Built-In
Add-Ons	Over 15 Add-Ons
Cashless Repairs	Available at 11,000+ Cashless garages*
Renew/Buy Online	Online via Website and IndusInd Insurance app
24/7 Customer Support	Available through Calls, WhatsApp and Email

How to Buy/Renew IndusInd Truck Insurance?

Buy Online

Visit the IndusInd General Insurance website and go to the Commercial Vehicle Insurance section online.

Enter your policy number or mobile number to start the truck insurance process.

Check available plans, coverage options and premium amounts to find the best protection.

Add extra covers like zero depreciation, engine protection or roadside assistance as needed.

Review all policy details, make secure payment online and get documents via email.

Renew Online

Go to the IndusInd General Insurance website and click on Renewal for truck insurance.

Enter your existing policy number or vehicle registration number for renewal processing quickly.

Check your current coverage details and decide if any changes are needed now.

Add or modify coverage options based on your current truck business needs today.

Confirm policy details, complete the payment process and download the renewed certificate immediately after payment.

IndusInd Truck Insurance Inclusions and Exclusions

What is Covered

Accidents and Collisions: Covers repair or replacement costs when your truck gets damaged in road accidents.

Third-Party Liabilities: Pays for damage to other people's property, vehicles or injuries caused by your truck.

Natural Disasters: Protects against damage from floods, storms, earthquakes, cyclones and other natural events.

Fire or Explosion: Covers damage from fire, explosions, lightning strikes and self-ignition of the truck

Theft: Provides protection when the truck is stolen or damaged during theft or break-in.

What is not Covered

Wear and Tear: Normal wear, like tyre damage, brake pads and paint fading, is not covered.

Depreciation: Regular drop in truck value due to age and use, unless Zero Depreciation add-on is bought.

Illegal Driving: Accidents caused while driving under the influence of alcohol or drugs are not covered.

Accessory Coverage: Electrical and non-electrical accessories (added after the truck’s purchase) are not covered without specialised add-on coverage.

Outside Coverage Zone: Damages or accidents outside India are not covered unless the Geo-location add-on is purchased.

The inclusions and exclusions are subject to policy terms and conditions. Please refer to the official policy document for complete details.

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IndusInd Truck Insurance Add-ons

Nil Depreciation Cover

Get full repair costs without any depreciation deduction when your truck parts lose value over time.

Return to Invoice Cover

Covers the difference between the insured amount and the original truck price when the vehicle is stolen or totally damaged.

24/7 Roadside Assistance

Round-the-clock emergency help with towing, fuel delivery and minor repairs when your truck breaks down anywhere.

Engine Protection

Pays for engine, gearbox or other parts repair costs when damaged due to water or oil leakage issues.

Consumable Cover

Covers the cost of oils, lubricants and filters needed during truck repairs after accidents or other covered damages.

No Claim Discount Retention Cover

Keep your no-claim bonus intact at renewal even after making one minor claim during the policy period.

No Claim Discount One Step Down Cover

Reduces your no-claim bonus by one level only instead of losing it completely after claims.

Tools and Equipment Cover

Covers loss or damage to tools kept in your truck due to accidents, theft or other incidents.

Personal Belongings Cover

Covers loss of personal items kept inside your truck, but money and documents/paperwork are not included.

Replacement Lock Insurance

Pays for new locks or keys when lost or damaged, with NCB bonus protection if no other part of the truck is damaged.

Hospital Cash Cover

Daily cash benefit if the driver is hospitalised for more than 24 hours due to a truck accident.

Additional Towing Charges Cover

Increases towing coverage amount beyond the standard limit of ₹1,500* when your truck needs emergency towing services.

EMI Protection Cover

Helps pay your truck loan EMIs when vehicle repairs take more than 30 days after accidents.

Daily Allowance Benefit

Provides daily cash allowance when your insured truck cannot be used due to an accident or covered damages.

Total Cover

Covers registration charges and insurance premiums when your truck gets stolen or completely damaged beyond repair.

Emergency Hotel Accommodation

Pays hotel costs when your truck breaks down or gets stolen more than 300 kilometers* from home.

Voluntary Deductible

Get a premium discount by agreeing to pay part of the repair costs yourself when making insurance claims.

Additional Limit of TPPD

Provides extra third-party coverage for property damage caused to others by your truck during road accidents.

Pay As You Drive Cover

Premium calculated based on actual kilometers driven, saving money for trucks used occasionally or part-time only.

Electric Vehicle Charger Cover

This add-on covers any damage caused to your vehicle’s charging unit that was bought along with the vehicle.

RIM Protection Cover

Covers repair costs for damaged alloy wheels from potholes, curbs and rough roads not covered normally.

IDV Customisation Cover

Allows adjustment of the truck's insured value based on specific modifications or equipment instead of standard valuations.

Electric Vehicle Battery Protection Cover

Protects against repair costs of electric truck batteries damaged due to electrical faults or environmental factors.

Electric Motor Protection Cover

Covers electric motor damage from water, short circuits or voltage problems in electric commercial truck vehicles.

How to File a Claim Under IndusInd Commercial Truck Insurance?

Step 1

Online via Website and IndusInd Insurance app

Step 2

Visit any of our 11,000+ network garages for cashless truck repair and claim processing.

Step 3

Use the IndusInd Insurance app for self-inspection or wait for our surveyor to visit within hours.

Step 4

Our surveyors will assess all damages to your truck and verify all required claim documents.

Step 5

Once a claim is approved, we pay the garage directly while you track progress on the IndusInd Insurance app.

Step 1

Report an accident within 24 hours at 022-4890 3009 or register on the IndusInd Insurance app.

Step 2

Get your truck repaired at any garage, pay upfront and keep all original repair bills.

Step 3

Submit a filled claim form, repair proof, payment receipts and clear photos of the truck incident damage.

Step 4

Our team reviews all documents, and once verified, the approved amount gets reimbursed to the account.

Step 5

Track your reimbursement claim status online through the IndusInd Insurance app or official website portal.

Things to Keep in Mind When You Buy Truck Insurance

Assess your Needs

The first thing to assess is your coverage requirements and budget. This is crucial to ensure you are aware of what to look for when choosing between different truck insurance policies.

Check Policy Coverage

Once you know what coverage you need, you must find different truck insurance plans that offer it at affordable rates. The key here is to check the policy inclusions to make the right decision.

Compare Policies

After shortlisting the policies that offer the coverage you need, compare them to choose the plan that offers the best coverage and other benefits to ensure maximum financial protection of your truck and business finances.

Review Policy Exclusions

Assessing the policy exclusions is crucial to avoid last-minute claim rejections and delays. Thus, you must carefully review all policy exclusions to make the right choice.

Assess Online Processes

To benefit from quick and easy solutions, you must also check the chosen insurer's availability of online processes for policy purchases, renewals and claim requests.

Read Policy Wording

Read the policy document carefully to understand the various terms, conditions and eligibility aspects and assess whether the policy meets your coverage needs.

Check Claim Settlement Ratio

You need to check the claim settlement ratio of different insurers to choose the one with the highest. A high claim settlement ratio indicates faster and more efficient claim settlements.

Assess Customer Support

Choose an insurer that offers 24/7 customer service for instant query resolution. This will ensure you have ample support in case of any doubt or emergency.

What Factors Affect Truck Insurance Premium Price?

Type and Model of Truck

The type and model of the truck directly impact the premium of your truck insurance policy. For instance, a 10-wheeler truck insurance price will be higher than a 6-wheeler truck insurance price due to the increased risk profile of a larger and heavier truck.

Purpose of Truck

The purpose for which the truck is being used also influences the truck insurance cost. If the truck completes local operations, the insurance premium will be lower than for trucks used for heavy material shifting through long routes.

Age of Truck

WhileThe older the truck, the higher the premium and vice versa. This is because older vehicles lose their value over time and require more maintenance and repairs, whereas new trucks have a low-risk profile.

Choice of Add-Ons

The number and type of add-ons you combine with your base policy also impact the total premium of your truck insurance policy. Thus, you must carefully assess which add-ons are required for your truck for maximum protection.

Security Devices

If you have installed safety devices on your truck, they reduce the risk profile and result in lower premiums and vice versa.

Insured Declared Value

Your truck’s IDV will directly affect your insurance premium. IDV is the compensation an insurer pays you in case your truck is damaged beyond repair or is stolen. A higher IDV will result in a higher premium and vice versa.

Type of Plan

The choice of plan also affects the insurance premium. For instance, third-party truck insurance will be more affordable, but it does not provide any own damage coverage. On the other hand, a comprehensive plan will have a slightly higher premium as it offers more coverage for your truck.

Claim History

Your claim history will impact the No Claim Bonus benefit. A claim-free year will result in lower premiums for your truck insurance at the time of renewal, while numerous claims will result in higher premiums.

Key Takeaways

The India Commercial Vehicle market was valued at USD 53.89 billion in 2025 and is expected to reach USD 72.67 billion by 2031 with a CAGR of 5.11%. Plus, truck insurance is not just important but legally required under the Motor Vehicle Act, 1988. Hence, every truck owner in India must have at least third-party insurance to drive on the roads legally.

When it comes to businesses, even one accident can cost lakhs in repairs and legal fees. A good truck insurance policy protects your business from these huge costs. And that’s where we can help.

IndusInd General Insurance offers complete truck protection with proven results. We maintain a quick claim settlement and provide access to 11,000+ network garages* for easy cashless repairs across India.

You can buy, renew and track claims easily through our IndusInd Insurance app. And our 24/7 support team is available to help you anytime you need assistance or guidance. Protect your truck, your business and your future with IndusInd General Insurance today!

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IndusInd General Insurance is one of the leading general insurance companies in India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, and Travel Insurance, and offers customised solutions to meet the protection needs of each customer.

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Frequently Asked Questions (FAQs)

Why do I need insurance for my commercial vehicle?

Commercial vehicle insurance is mandatory under the Motor Vehicle Act, 1988. Without it, you face fines of ₹2,000-₹4,000 plus imprisonment up to 3 months. It protects against accidents, theft, fire and third-party damages. Insurance premiums are also tax-deductible under business expenses, and they ensure business continuity by preventing major financial losses.

What are the documents required to buy commercial vehicle insurance online?

To buy commercial vehicle insurance online, you need: vehicle registration number, vehicle make/year/model details, personal details like address and age, photo ID proof, valid driving license and proof of business. These documents help verify your identity, vehicle details and eligibility for commercial vehicle coverage during the online purchase process.

How much does truck insurance cost in India?

Commercial vehicle insurance premiums depend on factors like vehicle type, age, location (Zone A/B), coverage type (comprehensive vs third-party), IDV value, cubic capacity and add-ons chosen. Premium discounts up to 90%* and NCB up to 50%* can significantly reduce costs. Get quotes online for accurate pricing based on your specific requirements.

My motor insurance policy expired; how can I renew in case of a break-in of my policy?

You can renew your expired commercial vehicle insurance policy online through the IndusInd General Insurance website or the IndusInd Insurance App. Simply make the payment online. After logging an inspection request, the process takes 24 hours. Following a successful inspection, you get an online recommendation and must convert within 48 hours.