Fleet Insurance Price Check & Policy Renewal Online 2025

Own Damages for Third-Party Policy holder

In the case of a Third-Party Liability Only Policy, damage to your own vehicle won’t be covered.

Drunk Riding or without a Licence

If the owner-driver of the claimed vehicle is drunk or driving without a valid licence.

Contributory Negligences

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, etc.

Zero Depreciation Cover

As vehicles age, their parts wear out, reducing their value. Normally, this depreciation amount is deducted from your claim payout, but with the Zero Depreciation add-on, the depreciation is not deducted, resulting in a higher claim amount. 

Breakdown Assistance or Roadside Assistance

Breakdown Assistance add-on is one of the most useful add-ons covers as it protects you 24x7 in case one or more taxis or cabs of your fleet breaks down on the road due to an accident, flat tires, malfunctioning battery, or other factors. So, whether you're on a remote road or in a busy city, this add-on offers immediate help, including towing, minor repairs, and emergency fuel delivery.

Engine and Gear Box Protect

This add-on covers consequential damage to your taxi car's engine or gearbox after the accident, which can happen due to water regression or leakage of lubricating oil, thus, saving you from significant expenses.

Consumable Cover

The Consumable Cover add-on covers your taxi fleet’s nuts, bolts, screws, engine oil, and grease that need repair or replacement after an accident. These items are usually not covered by standard insurance, but with this add-on, you can avoid out-of-pocket expenses for such repairs.

Return to Invoice

In case any taxi/cab of your fleet suffers total loss/constructive loss or theft, return to invoice cover will compensate you the amount or a new similar vehicle at the prevailing ex-showroom price. However, if the same model/variant is discontinued, you will be paid the difference between the last available ex-showroom price and claim payable under OD section of the Base Policy.

Key and Lock Replacement

Available only for passenger-carrying taxis and cabs, the key and lock replacement helps you if your taxi or cab’s lockset is damaged or the keys are lost by covering the cost of replacing locks and keys, installing a new lock set etc., of the insured taxi car.

Loss of Revenue

This is an important add-on for businesses that rely on their vehicles. If one of the vehicles in your fleet is being repaired causing any loss of income, this add-on compensates you for the income lost during the repair period.

Additional Towing Expenses

If your cab or taxi needs to be towed from the spot of accident to the nearest garage or place of safety, then this add-on will help cover the towing costs. It ensures your vehicle is safely transported without any extra financial burden.

EMI Protection Cover

If your taxi fleet is taken on loan and is being repaired in a garage due to damage in an accident, it might cause a loss to your business. So, this add-on helps you as it pays the regular EMIs payable to the financier of the vehicle recorded in insurer’s books.

Debris Removal Expenses

This add-on covers the costs of cleaning up and removing debris or wreckage from your insured fleet of taxis after an accident. Compensation is provided up to the Sum Insured you have chosen. 

Personal Accident Cover

Your Fleet insurance online policy should have a PA cover to protect you for bodily injury or death of the owner-driver in case of an accident. Also, having personal accident cover is compulsory by law in India. 

Unnamed PA Cover

People in the insured vehicle at the time of any accident are safeguarded against any injuries with the help of this add-on cover.

Legal Liability

Protect your taxi fleet and the business for which the insured vehicle is used, against any legal liability that may arise due to an injury caused to your employees or someone who works for you, by getting this cover.

IMT 23

This add-on cover protects your fleet against any loss or damage to insured vehicle’s lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all cases, even in case of partial damage.

Electrical Accessories

All electrical accessories fitted in your insured commercial vehicle, which is not a part of the manufacturer’s model, are covered under this add-on.

Non-Electrical Accessories

All non-electrical accessories fitted in your insured taxi of the fleet, which is not a part of the manufacturer’s model, are covered under this add-on.

Special Exclusions & Compulsory Deductibles

This add-on helps reduce your premium as you only have to pay a certain amount as your share of the loss, called the compulsory deductible. Additionally, it also covers the loss or damage to the vehicle’s lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your vehicle is completely damaged. 

Comprehensive or Standard Package Plan

Comprehensive commercial vehicle insurance protects your taxi fleet in all situations, including its own damage as well as damage or loss to the third-party. With this Taxi Fleet insurance online plan, you get enhanced protection against injuries, damage, natural disasters, and theft, and the option to choose add-ons as well.

Third-party or Liability Only Plan

A third-party liability insurance for commercial vehicles protects your fleet of taxis only against third-party liabilities, which include damage or loss to third-party vehicle, property or person caused due to your vehicle. Also, it is mandatory in India to have at least a third-party policy.

You cannot opt for any add-ons with this policy, and the premium price for a third-party liability policy is fixed by IRDAI.

Model and Age of the Vehicle

The car model, age, and engine play a crucial role in determining the fleet insurance premium. Thus, different cars in your fleet will have different premiums depending on whether it is a sedan, hatchback, or SUV, and its manufacturing year.

Insured Declared Value (IDV)

The IDV of your vehicle, which represents its current market value, also impacts the premium. A higher IDV generally leads to a higher premium.

No-Claim Bonus

If you are looking to do fleet insurance renewal online or switch insurers, your No Claim Bonus (NCB) will be taken into account. An NCB is the discount offered on your insurance premium if you haven’t filed any claims in the previous policy term, thus, reducing your premium.

Type of Insurance Plan

The fleet insurance price also depends on the type of insurance plan you choose. A third-party liability-only plan comes with a lower premium, while a comprehensive plan costs more.

Location

The insurance premium for your taxi may vary depending on where it is registered. If your fleet is operated in a city with more traffic congestion, crime rates, and poor road conditions, then you will have to pay a higher premium.