Heavy Vehicle Insurance Price & Policy Renewal Online 2024

Heavy vehicle insurance is essential for businesses that rely on large and heavy commercial vehicles like trucks, buses, and trailers. Heavy vehicle insurance online protects these vehicles against financial losses from accidents, theft, and damage, and covers the cargo, driver, and third-party liabilities as well, depending upon the chosen plan.

By having heavy duty truck insurance, businesses can ensure smooth operations and avoid financial losses. So, here’s everything you need to know about heavy duty commercial vehicle insurance to make informed decisions and maintain uninterrupted service.

A heavy vehicle insurance is a type of a commercial vehicle insurance policy specifically for the purpose of covering for heavy duty vehicles such as bulldozers, cranes, lorries, trailers, etc. A basic, third-party heavy vehicle insurance covers for any damages and losses caused to a third-party due to the vehicle, whereas a comprehensive heavy vehicle insurance would also help cover for own damages along with additional covers for maximum protection.

In India, there are many different types of heavy-duty vehicles, here are some of the most common ones, all of which can be covered under our Commercial Vehicle Insurance, such as:

1. Bulldozers

Heavy duty vehicles mainly used in the process of construction, to move soil and sand forward. The same can be covered under heavy vehicle insurance.

2. Cranes

Cranes are commonly used for construction as well and can be insured by commercial vehicle insurance for heavy-duty vehicles.

3. Backhoe Digger

Backhoe diggers are one of the most common types of heavy-duty vehicles used in India, especially in the process of construction.

4. Trailers

Trailers of all kinds are commonly used in India to transport goods and materials across different industries. The same can be covered for under a heavy-duty commercial insurance.

5. Lorries

Tipper trucks and lorries are frequently used in India, mainly for the purpose of transporting large number of goods from one place to another.

Here's why having a heavy commercial vehicle insurance is important in India:

• Heavy duty commercial vehicles are a large part of an operational investment for any business. The least a business should do is protect it with insurance, that will help compensate for losses in times of need.
• As per the Motor Vehicle Act, it is mandatory for all vehicles, including commercial vehicles, to at least have third-party commercial vehicle insurance in place. Without the same, you may be liable to pay heavy fines and other consequences.
• Insuring your heavy-duty vehicle won’t only ensure your business is safeguarded from losses, but also helps you maintain your vehicle better in the case of unforeseen circumstances such as natural calamities, fires, accidents and collisions.

Based on the type of heavy-duty vehicle and number of vehicles you want to insure; we offer two primary plans you can choose from:

1. Comprehensive or Standard Package Plan

Having a comprehensive commercial vehicle insurance for heavy vehicles ensures protection from financial losses and gives you peace of mind as this plan covers your own vehicle as well as third-party liabilities against damage or loss in an unfortunate accident.

Your own vehicle is protected against injuries, damage, natural disasters, and theft, and you can further enhance this protection by opting for suitable add-ons from the ones available.

2. Third-party or Liability Only Plan

A third-party liability only commercial vehicle insurance plan for heavy vehicles financially protects them against only third-party liabilities, which includes damage, loss, or injury to any third-party due to your vehicle.

Also, to drive a heavy duty commercial vehicle in India, you must have at least a third-party policy in place, the price of which is already fixed by the IRDAI. Moreover, you cannot buy any add-ons with heavy vehicle insurance online.

To buy heavy vehicle insurance online from Digit, furnish the following documents:

• Vehicle Registration Certificate (RC)
• Previous year commercial vehicle insurance policy, if applicable
• Any document among these for KYC verification - PAN/Aadhar/DL/Voter id/Form 16/Passport

If you already have an active heavy duty truck insurance policy, you can easily download the policy document by following the given steps:

• Step 1: On the Digit app, go to the ‘My Policies’ tab at the bottom. All your current active policies will be displayed.
• Step 2: Choose the policy for which you want to download the document. Check the details and then click on ‘Download Policy’.

Your heavy truck insurance policy document will be downloaded.