Commercial Lorry/Truck Insurance Price & Renewal Online in India

Commercial vehicles such as trucks and lorries are extremely useful in logistics and for transporting goods, which makes it important to secure these commercial vehicles with the best truck insurance policy.

Here’s everything you need to know about buying/renewing insurance of truck in India in 2025.

Truck insurance is a type of commercial goods carrying vehicle insurance policy customized to insure trucks that are used within business functions such as for trucks used for delivery purposes, pick-ups and goods transportation, amongst others.

Truck insurance is vital for any business as it financially protects the commercial trucks and lorries from any damage that can be caused due to accidents, collisions, natural calamities, fires, and thefts.

The significant size and weight of trucks and the higher risk of accidents can result in more severe damage and injuries in the event of an accident. So, Digit truck insurance online policy comes with better coverage, more additional endorsements and affordable 6-wheeler truck insurance price.

Protects Your Truck Business

If you’re running a business, chances are you have at least one or more trucks as part of your operations. So, having insurance of trucks means your business is protected from any losses that can be caused due to any minor or major accident, collision and even natural calamity. This also means you’ll avoid any possible downtime, maintain a profit margin and can instead spend money on your business growth.

Mandatory by Law

As a mandate by law, it is compulsory to at least have a Liability Only policy in place that protects third parties against any damage and losses that could be caused by your truck. However, given the risks trucks can be faced with, it’s always better to have a standard package policy that will protect your own truck and owner-driver as well.

Ensures Passenger Safety

Get lorry insurance online to ensure the safety of your passengers. You have the option to opt for a passenger cover if you take a Comprehensive Commercial Vehicle Insurance. This won’t only ensure your passengers are protected too but gives you more credibility as a responsible business and/or driver.

To do insurance of truck online from Digit, keep these documents handy:

• 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 

To download your renewed or already active commercial truck insurance policy with Digit, follow 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 insurance policy document will be downloaded.

All trucks used for commercial purposes can be covered under Digit’s Commercial Vehicle Insurance. These trucks can be broadly classified into the following:

Yes, according to the Motor Vehicle Act, it is mandatory for all vehicles to at least purchase a Liability Only policy, one that protects and covers for financial losses in case your truck causes damages and losses to a third-party vehicle, property or person. Without a basic truck insurance in place, none of your trucks will be legal to drive around India.

However, owing to the huge size and frequent use of trucks, a Standard Package Policyis the best for truck-business owners, that will not only protect third-party damages but also cover for losses caused to one’s truck and the owner-driver.

Given the number of options available today, it is important to pick an insurance that is simple, reasonable, protects and covers you and your business in all possible situations and most importantly, guarantees to settle claims as soon as possible. After all, that’s the most important part of insurance!

Here are a few tips that will help you pick the right insurance for your truck:

• Right Insured Declared Value (IDV): IDV is the manufacturer’s listed selling price of the commercial vehicle you want to insure. Your premium will be dependent on this. While looking for the right truck insurance online, make sure your IDV is stated correctly.
• Service Benefits: Consider services such as 24x7 Customer Support and a Wide Network of Cashless Garages, among others. In times of need, these services matter.
• Review Add-Ons: While picking the right commercial insurance for your truck, consider the add-ons available to ensure maximum benefits.
• Claim Speed: It’s the most important aspect of any insurance. Pick an insurance company you know will settle claims quickly.
• Best Value: From the right premium and after services to claim settlements and add-ons; pick a motor insurance that conveniently covers everything you think you will need at the best possible value.

It can be tempting to pick the cheapest truck insurance available. However, while comparing commercial vehicle insurance quotes, consider factors such as service benefits and claim settlement periods.

Depending on your type of vehicle, trucks used for commercial purposes can be prone to a lot of risks.

Therefore, weighing in important factors is important to ensure your vehicle and business are safeguarded against all the odds:

• Service Benefits: Great services really matter in times of trouble. Make sure to evaluate services each insurance company is offering and make a sound choice accordingly. Some of the services Digit offers are 24x7 Customer Care Support and Cashless Garages among other services.

• Quick Claim Settlement: The whole point of insurance is to get your claims settled! So, make sure you pick an insurance company that will guarantee quick claim settlements. Most of Digit’s claims are settled within 30 days! Additionally, we have a zero-hardcopy policy, which means we only ask for soft copies. Everything is paperless, quick and hassle-free!

• Check your IDV: A lot of insurance quotes online will have a low IDV (Insured Declared Value), i.e. the manufacturer's listed selling price. While the IDV affects your premium, it also makes sure you get your right claim at the time of a settlement. The last thing you want during a theft or damage is to find out your IDV was low/at the wrong value! At Digit, we give you the option to set your IDV while buying your truck insurance policy online.

• Best Value: Finally, pick a truck insurance that gives you a fair combination of it all. The right price, services and of course, quick claims!

• Model, Engine & Make of the Truck: When it comes to any kind of motor insurance, the model, make and engine has a big role to play in determining the right truck insurance price! Similarly, your make, model and manufacturing year of the truck too will have an impact on your truck insurance premium. 

• Type & Purpose of Truck: There are a variety of trucks businesses use for different purposes. Your truck insurance premium could range on different scales, depending on the type of truck and its purpose. For instance, a goods carrying truck will have a higher insurance premium than that of a small pick-up truck. This is because a goods carrying truck would be larger and liable on the value of goods it carries. 

• Location: The location of your truck will obviously have a huge role to play in deciding your truck insurance premium. So, whether your truck is registered and will operate in a metropolitan city, hilly area or a small city. All these factors would be considered in deciding your truck insurance premium.

• No-Claim Bonus: If you’ve already had truck insurance before and are currently looking to renew your policy or get a new insurer- then in this case your NCB (No Claim Bonus) will also be considered, and your premium will be at a discounted rate! A No-Claim Bonus means the insurer hasn’t had a single claim in the previous policy term.

• Type of Truck Insurance Policies: Your truck insurance premium will depend on the kind of plan you choose. While the compulsory, liability only plan comes with a lesser premium- it only covers third-party damages or losses caused to a third-party and personal accident of the owner-driver. Whereas a standard package policy may be higher in premium but would also cover damage and losses to our own truck and its driver respectively.