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Taxi Insurance
Taxi/cab insurance is specialised coverage for vehicles used in taxi or cab services. vehicle insurance includes liability third party and comprehensive coverage, protecting against accidents, damage, and theft.
Taxi Insurance Plans#1
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Claim Benefits
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
#1 Rs 5773/- per annum is the price for third-party commercial vehicle insurance for Mahindara Alfa PAX DX registration year 2020. The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively. The comprehensive commercial vehicle insurance prices mentioned above are for a 5 year Mahindara Alfa PAX DX registration year 2020. These quotes are from mentioned from lowest to highest price. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The 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
#1 Rs 5773/- per annum is the price for third-party commercial vehicle insurance for Mahindara Alfa PAX DX registration year 2020. The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively. The comprehensive commercial vehicle insurance prices mentioned above are for a 5 year Mahindara Alfa PAX DX registration year 2020. These quotes are from mentioned from lowest to highest price. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The 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
What is Commercial Vehicle Insurance?
A Commercial Vehicle Insurance is a motor insurance policy to cover for damage and loss caused to and by a commercial vehicle. Owner of the vehicle and driver who drives the vehicle. This could include damage and losses in situations as accident, collisions, fires, theft, natural calamities, etc. it is mainly for all type of business to buy a commercial vehicle insurance for their vehicles, such as for auto rickshaws, cabs, pickups, trucks, tractors, school buses, commercial vans, jcb, harvester and amongst other.
What is Taxi/Cab Insurance?
taxi/cab insurance is specialised coverage for vehicles used in taxi or cab services. vehicle insurance includes liability third party and comprehensive coverage, protecting against accidents, damage, and theft. Additional features like uninsured motorist coverage, medical payments, and use endorsement cater to business-related risks. This type of insurance accounts for the higher usage and risks associated with vehicles, ensuring the safety of drivers, passengers.
Why should I insure my Taxi/Cab Taxi Insurance?
Please find below are top 10 reasons why you need to insure you taxi/cab
Coverage Adequacy: taxi insurance covers your vehicle in case of any accident the company will pay against you to the garage to repair your vehicle.
Legal Compliance: As per Indian government it is mandatory to have vehicle insurance for t permit vehicles like taxis to operate legally on the roads.
Passenger Safety: taxi insurance includes passenger liability coverage, safeguarding you and your business in case passengers are injured during transport.
Business Continuity: In case of accidents or damage, insurance helps cover repair costs, minimising downtime and keeping your business operational.
Higher Vehicle Usage: Taxis have higher mileage and exposure than personal vehicles, increasing the likelihood of accidents. Commercial insurance considers to reduce the risk.
Third-Party Protection: Liability coverage protects you against claims from other parties involved in accidents, reducing the financial burden from legal expenses and settlements.
Vehicle Replacement: Comprehensive coverage includes theft and damage for your own commercial taxi /cab vehicles in case of damage and required replacement or a repair.
Passenger Confidence: Having proper insurance boosts passenger confidence, as they know they are protected in case of accidents or injuries during their journey.
Legal Defense: Commercial insurance often includes legal assistance, aiding you in navigating legal complexities following accidents or claims.
Why choose a Taxi/Cab Insurance Policy from policylegit.com
Usually online policies are often 30% to 80% cheaper than the offline agent policy and plans. This is because insurance companies are able to reduce their overheads and eliminate agents’ commission while selling online policy. Also from us you can directly compare insurance plans according to your requirement and get the best offer with saving your money.
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Accident |
Heading #2 |
|---|---|
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Accident |
Damages caused to the commercial Taxi in case of an accident. |
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Theft |
Loss or damage to the commercial Taxi due to theft. |
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Fire |
Damages caused to the commercial Taxi due to a fire. |
NOTE :- Below add-on covers only avail when Opted while buying the policy.
Add-ons available with Taxi/Cab Insurance
Consumable Cover-
A consumable cover will give your taxi/car vehicle protection beyond just the usual. It covers your vehicle parts 100% like glass, metal, fibre, plastic at the time of accident repair.
Parts Depreciation Protect -
Your vehicle and its parts can depreciate in value over time because of accidents as well as its wear and tear and this amount is usually deducted from any claim. Depreciation Protect - This add-on ensures that this depreciation will be covered on any replaced vehicle parts (like rubber or fibreglass parts, Plastic, Denting Painting) in the case of an accident.
Engine and Gearbox Protect -
Your vehicle's engine or gearbox gets damaged in an accident, due to things like water regression or leakage of lubricating oil. This add-on will help cover any consequential damages caused after the accident (but because of it), for example engine damage due to hydrostatic loss, which is not covered in a standard policy.
Breakdown Assistance – commonly known as Roadside Assistance-
In this Feature whenever you face a breakdown of your vehicle on the road, due to an accident, flat tires, malfunctioning battery, or more, with selected insurer (If opted) breakdown assistance add-on, you can get the benefit of getting assistance 24x7.
Loss of Revenue-
For many, vehicles are essential for work. This add-on helps to compensate you for any loss of Personal belonging income that could occur while your commercial vehicle is not available when it’s being repaired due to damages.
Additional Towing Expenses-
Any damages caused to the vehicle by the commercial vehicle to the vehicle being towed.
When your vehicle is in an accident, if not in condition it will need to be towed to a garage to be repaired. Under this add-on, the insurer will cover for additional expenses that you might have while your vehicle is being moved from the spot of accident to the nearest garage or place of safety.
EMI Protection Cover
If your vehicle is taken on a loan and is damaged by an accident, and it’s sitting in a garage for repair that might mean a loss for your business. Through this add-on, you will be paid regular EMIs payable to the financier of the vehicle recorded in the insurer book, in condition of 1 EMI will be paid.
Additional Coverages Endorsements Available
Personal Accident Cover -
If you don’t have a Personal accident cover (PA cover), you can include it within your commercial insurance policy plan as having a personal accident cover is mandatory by law. This provides coverage for bodily injury in partially or permanent disability or death of the owner-driver in case of an unfortunate accident.
Legal Liability-
This cover has you protected against any legal liability that arises against you due to an injury caused to your employees / someone who works for you.
IMT 23-
This cover helps cover for losses or damages to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all cases, even if the vehicle is partially damaged.
Electrical Accessories-
This cover is for those who have fitted any electrical accessory in their vehicle, which is outside fitted and not a part of manufacture, this will cover those accessories.
Non-Electrical Accessories-
If you’ve fitted any non-electrical accessory in your vehicle which is not a part of the manufacturer’s model, this cover helps cover for those accessories during damages and losses.
Special Exclusions & Compulsory Deductibles-
On every loss there will be a certain amount which you will have to pay as your share of the loss called the compulsory deductible. This will help you reduce your premium when buying the policy. This will also cover the loss or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your vehicle is completely damaged.
What’s not covered?
It is important to know what’s not covered in your commercial vehicle insurance policy so that there are no misses when you make a claim. Here are some such situations
Own Damages for Third-Party Policy holder-
In case of a Third-Party Liability Only Policy, damages to one's own vehicle won’t be covered.
Drunk Riding or without a Licence-
If the owner-driver or a Paid driver of the claimed vehicle is drunk or driving without a valid licence.
Contributory Negligence-
Any damage caused due to contributory negligence of the driver (such as driving when there’s an existing flood).
Consequential Damages-
Any damage that is not a direct result of the accident/natural calamity i.e., consequential losses like loss of earnings, loss of market, if already damaged long back etc.
Key Features of Taxi/Cab Insurance(Taxi/Cab Insurance)
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Key Features |
Benefit |
|---|---|
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Claim Process |
Paperless Claims |
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Customer Support |
24x7 Support |
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Types of Commercial Vehicles Covered |
Cabs and Taxis, Trucks, Buses, Auto Rickshaw, School Vans, School Bus etc. |
Commercial Vehicle Insurance
Commercial vehicle insurance is a type of vehicle insurance policy, giving financial protection to commercial vehicles like trucks, tractors, buses, auto-rickshaws, and others. It covers losses or damages caused to the insured CV due to accident, theft, fire, natural calamities, etc. It also gives financial coverage to third parties involved in accidents for injury, property damage or even death, loss or damage caused by natural calamities, fire, man-made disasters, theft, etc.
Why do you Need Commercial Vehicle Insurance?
Some of the reasons to buy a commercial vehicle insurance policy are given below:
- Legal Obligation: As per the Motor Vehicle Act, third-party commercial vehicle insurance is mandatory to drive any commercial vehicle in India.
- Financial Security: Commercial vehicle insurance also protects your vehicle and business against any adverse situations that may cause a huge financial drain. It also saves you from monetary losses that occur due to unanticipated events, thus giving you a peace of mind alongside financial protection. Commercial vehicle insurance further covers losses occurring to any third party.
Key Features of Commercial Vehicle Insurance
A commercial vehicle insurance policy comes loaded with some salient features. Some of them are mentioned below:
- Comprehensive coverage is provided to both public and private carriers, including special types of goods-carrying vehicles.
- A commercial vehicle insurance plan also covers third party liabilities and provides monetary compensation in case of any injury or an accident.
- A separate mandatory Personal Accident (PA) Cover is also offered to cover the death or bodily injuries of the driver and the owner.
Types of Vehicles insured in Commercial Vehicle Insurance Policy
Commercial vehicles are an essential mode of transportation and are heavy-duty vehicles used daily to carry out tasks. Some of the most common commercial vehicles are:
- Trucks
- Vans
- Trailers
- Buses
- Taxies
- Coaches
- Carriers
- Shovels
- Tractors
- Cranes
- Mobile rigs
- Bulldozers
These commercial vehicles transport goods within the city/cities and from one state to another, as well as for intercity passenger tours and travel.
Types of Commercial Vehicle Insurance Policies
Majorly two types of commercial vehicle insurance policies are offered in India. These include:
Third Party (TP) Liability Commercial Vehicle Insurance Policy
The Indian Motor Vehicle Act of India has mandated commercial vehicle owners to purchase at least a third-party (TP) liability insurance. A TP policy protects damages caused to any third party property or person. It also provides financial coverage for third party injuries or deaths and also compensates for third-party property damage caused due to the insured commercial vehicle. Since commercial vehicles are heavy-duty vehicles carrying goods that increase their weight, covering them under third party commercial vehicle insurance is an utmost priority.
Comprehensive Commercial Vehicle Insurance Policy
Comprehensive commercial vehicle insurance offers an enhanced protection to your vehicle under any unforeseen circumstances. A comprehensive plan provides protection not only against third party liabilities but also your own commercial vehicle from uncertainties such as accidental damages, fire, theft, flood, earthquake, etc.
Coverage Under Commercial Vehicle Insurance
- Losses due to riots, strikes, natural calamities such as earthquakes, hurricanes, cyclones, etc, are covered
- Damages to the vehicle arising out of fire, self-ignition and explosion
- Partial or total loss to the insured vehicle due to theft, housebreaking, and burglary
- Loss or damage caused to the third-party property, vehicle, bodily injuries and death of the third person.
- Damages arising out of road accidents or collisions are also covered.
- Wear and tear/depreciation of the commercial vehicle.
- Losses incurred during a civil war, nuclear perils.
- Contractual liabilities of the owner/driver of the insured commercial vehicle are also not covered.
- The occurrence of an accident while driving with an invalid driving license or under the consumption of alcohol.
- Using a vehicle in accordance with 'limitations as to use', for instance, a private car is used as a taxi.
- Electrical and mechanical breakdown, breakage or failure of the insured vehicle.
List of Commercial Vehicle Insurance Companies in India 2025
Following is the list of general insurance companies that offer commercial vehicle insurance:
| Insurer Name | Passenger Carrying Vehicle Insurance | Goods Carrying Vehicle Insurance | Miscellaneous Vehicle Insurance |
| Bajaj Allianz Commercial Vehicle Insurance | No | Yes | No |
| Godigit Commercial Vehicle Insurance | Yes | Yes | Yes |
| New India Assurance Commercial Vehicle Insurance | Yes | Yes | No |
| Reliance General Commercial Vehicle Insurance | Yes | Yes | Yes |
| SBI General Commercial Vehicle Insurance | Yes | Yes | Yes |
| Shriram General Commercial Vehicle Insurance | Yes | Yes | No |
| United India Commercial Vehicle Insurance | Yes | Yes | No |
| Zuno Commercial Vehicle Insurance | Yes | Yes | No |
*Disclaimer: The table mentioned above is according to the alphabetical order of the insurance company. 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
Frequently asked Questions for Commercial Vehicle Insurance
What is the difference between Comprehensive and Third-party policy in Commercial Vehicle Insurance?
A third party insurance covers in commercial vehicle insurance only paid drivers, owner drivers if opted and to others who got injured or damaged from your vehicle like human or property.
What is a Passenger carrying vehicle?
Commercial passenger carrying vehicles help people transport from one place to another. Examples of this include public and school buses, cabs and taxis.
What is a Goods carrying vehicle?
Goods carrying vehicle is used to carry goods to transport from one place to another, it can be private use for business or public goods such as Pick-up trucks and lorries.
What is considered a miscellaneous and special vehicle category?
Vehicle is not used for passenger and goods carrying like crane and tractor and harvester like all machines considered under this category.
What should I do if my commercial vehicle gets into an accident?
You can directly call in the emergency number if any injury or in damaged condition you can call to the insurer contact number mentioned on your policy paper.
Where can I repair my commercial vehicle in case of damages?
Either you can go anywhere if you do not want any cashless facility or you can go to the insurer tie-up service centre where you can get cashless service and get your vehicle.
Explore More Under Commercial Vehicle Insurance
- Commercial Vehicle Third Party Insurance
- Commercial Vehicle Insurance Companies
- Tractor Insurance
- Truck Insurance
- Pick Up Van Insurance
- School Bus Insurance
- Goods Carrying Vehicle Insurance
- Passenger Carrying Insurance
- Auto-Rickshaw Insurance
- E-rickshaw Insurance
- Bus Insurance
- Tempo Traveller Insurance
- Trailer Insurance
- Tipper Insurance
- Heavy Truck Insurance
- Tanker Insurance
- Bulker Insurance
- Taxi Insurance
Tata Ace Insurance
