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Mandatory under Indian law for all business vehicles.
Covers costly vehicle repairs and third party claims.
Keeps your fleet running smoothly after accidents.
Protects drivers and passengers during work related travel.
Access partner garages for quick, cashless repairs.
Stay worry free from losses due to theft or natural disasters.
Mandatory policy covering injury, death, or property damage to third parties. It’s affordable but provides limited protection.
Covers both third party liabilities and own damage from theft, fire, accidents, or natural disasters for full protection.
Ideal for taxis, buses, and autos as it covers the driver, passengers, and third party damages during transit.
Best suited for trucks, tempos, and pickups as it covers vehicle, driver, helper, and liability from goods transport.
Thousands of satisfied customers rely on Securebima for their insurance needs.
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Safe and convenient online payment options.
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Clear pricing and terms to help you make informed decisions.
Dedicated support for queries, renewals, and claims.
Provide registration, usage type, and business details.
Compare plans and select the one suitable for your fleet.
Add owner and policy details accurately.
Pay securely through card, UPI, or internet banking.
Receive your digital policy instantly in your registered email.
Inform the insurer immediately about the accident, theft, or damage.
Provide claim form, policy details, and required documents.
Insurer inspects the damage, approves the claim, and processes settlement.
Commercial Vehicle Insurance provides financial protection for vehicles used for business purposes against:
It is mandatory under the Motor Vehicles Act in India for vehicles used commercially.
A. Goods Carriers (Cargo Vehicles)
GCV (Goods Carrying Vehicle) Insurance: Covers trucks, tempos, and lorries carrying goods.
Subtypes:
B. Passenger Vehicles
PCV (Passenger Carrying Vehicle) Insurance: Covers buses, taxis, vans, and other vehicles carrying passengers.
Subtypes:
C. Miscellaneous Commercial Vehicles
Includes cranes, bulldozers, tractors, and other specialized commercial vehicles.
Yes, Third Party Liability Insurance is mandatory for all commercial vehicles under the Motor Vehicles Act.
Own Damage (OD) cover is optional but highly recommended.
| Feature | GCV (Goods Carrying Vehicle) | PCV (Passenger Carrying Vehicle) | MISD (Miscellaneous Vehicle) |
|---|---|---|---|
| Purpose | Transport goods (e.g., trucks, tempos, lorries) | Transport passengers (e.g., buses, taxis, vans) | Special commercial purposes (e.g., cranes, tractors, bulldozers) |
| Legal Registration | Private/Public Goods Carrier | Contract/Stage Carriage | Miscellaneous Vehicle category under RTA |
| Mandatory Coverage | Third Party Liability | Third Party Liability + Passenger Liability | Third Party Liability |
| Optional Coverage | Own Damage, Add-ons | Own Damage, Add-ons | Own Damage, Add-ons |
| Passenger Carrying | No | Yes | Limited or as per vehicle type |
| Usage Limitations | Goods only | Passengers only | Specialized commercial use only |
Commercial vehicle insurance premiums are calculated based on multiple factors, some common across all vehicles, others specific to vehicle type.
A. Factors Affecting PCV Premium
| Factor | Impact on Premium | Details |
|---|---|---|
| Seating Capacity | Higher seating → Higher premium | Vehicles with more passengers (e.g., 30-seater bus) have higher risk exposure. |
| Type of Carriage | Contract Carriage > Stage Carriage | Contract carriage often involves longer routes and higher passenger liability. |
| Route Type | Urban vs Highway | Risk of accidents may vary by route. |
| Vehicle Age & IDV | Newer vehicles → Higher OD premium | OD is calculated as a % of current market value. |
| Add-ons | Passenger Liability, Zero Depreciation | Add-ons increase total premium. |
| Past Claims / NCB | Claim-free vehicles get discount | NCB reduces OD portion. |
Special Note for PCV: Passenger Liability Premium is mandatory and varies with seating capacity and type of service.
B. Factors Affecting GCV Premium
| Factor | Impact on Premium | Details |
|---|---|---|
| Vehicle Type & Tonnage | Higher tonnage → Higher premium | Bigger trucks or lorries carrying heavy goods have higher risk. |
| Goods Type | Hazardous goods → Higher premium | Transporting chemicals, explosives, or perishable items increases risk. |
| Vehicle Age & IDV | Newer vehicles → Higher OD premium | OD calculated as % of vehicle value. |
| Usage Frequency & Route | Long-distance/highway → Higher premium | Frequent trips or risky routes increase accident probability. |
| Add-ons | Engine cover, Zero Depreciation, Breakdown Assistance | Optional add-ons increase premium. |
| Past Claims / NCB | Claim-free vehicles get discount | Reduces OD portion only. |
Special Note for GCV: Unlike PCV, there is no passenger liability, but cargo type and tonnage significantly affect the premium.
