Own a Commercial Vehicle? 5 Covers You Need

Bought a truck, tempo, or auto for business? Commercial vehicle insurance is very different from your car insurance — and the wrong policy could wipe out months of earnings in one bad day.

Here's what happened: Light commercial vehicles (LCVs) like tempos, mini-trucks, and delivery vans need a separate commercial vehicle insurance policy — not standard motor insurance.. Third-party liability cover is mandatory by law for all commercial vehicles in India, but it only covers damage to others — not your own vehicle or lost income.. Add-on covers like own damage, goods-in-transit, and driver personal accident cover are optional but critical for small logistics operators and first-time owners..

What you should do: Check your current policy document today — confirm it is classified as 'commercial vehicle' and not private use, or your claim can be rejected outright.. Add a 'goods-in-transit' rider if you carry customer cargo — standard own-damage cover does NOT protect goods lost or damaged during delivery.. Compare comprehensive commercial vehicle policies on IRDAI-registered aggregators and look specifically for 'loss of income' or 'vehicle downtime' add-ons before renewing..

If your vehicle is financed through a bank loan, the lender legally requires comprehensive cover — not just third-party. Using only TP cover violates your loan agreement and can trigger early repayment demand.