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List of 10 Best Truck Insurance Companies in India
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List of 10 Best Truck Insurance Companies to secure your truck

One of the best things you can do after purchasing a truck is to get the truck secured with truck insurance. Truck insurance is a type of commercial vehicle insurance that protects your truck against any damages caused due to fire, accidents, natural disasters and also covers third-party liabilities. Trucks which are used for commercial purposes such as transportation of goods and drop & pickup services are important to ensure truck insurance. It proves financial protection, and the burden is taken off from your pockets in case the truck gets involved in any kind of accident. Buy truck insurance online to get the most benefits with low premium rates.

List of 10 Best Truck Insurance Companies in India 

There are a lot of truck insurance companies providing different kinds of truck insurances with coverage –

  • Oriental Commercial Vehicle Insurance: Oriental insurance has a high claim settlement ratio and a simple claim process for truck insurance plans. Discounts on premiums and various types of add-ons are also available in addition to the basic insurance plan. Features such as towing of disabled vehicles and cashless settlements are also available. 
  • Reliance General Commercial Vehicle Insurance: In India’s insurance market, Reliance General is one of the most trusted names when it comes to truck insurance plans. Reliance insurance makes claims simple, and you can acquire truck insurance online without having to fill out any paperwork. The insurance policy renewal process is simple, and you are rewarded for safe driving and not filing any claims throughout the insurance term.
  • Edelweiss Commercial Vehicle Insurance: Edelweiss insurance plans offer 3 types of truck insurances which are compressive insurance, third party liability insurance, and personal accident insurance. The company has a fairly good claim settlement percentage and offers great additional benefits with its insurance policies. 
  • GoDigit Commercial Vehicle Insurance: Godigit operates a nationwide network of more than 1400 cashless garages. The supplier also offers the option of adjusting the truck’s IDV value, and assistance is available 24 hours a day, seven days a week, even on national holidays. Commercial vehicles such as trucks and mini-trucks travel a lot on roads which increases their chances of getting into an accident. Godigit has quality truck insurance plans at affordable rates. 
  • IFFCO Tokio Commercial Vehicle Insurance: IFFCO Tokio’s insurance plans provide your truck cover against damages sustained because of accidents and personal covers to the driver of the truck as well. They have a wide range of add-ons to choose from on top of base lorry insurance plans which increase the scope of coverage. Coverage for the truck’s tires, bumper, bonnets, and other parts is also provided. 
  • Bharti AXA Commercial Vehicle Insurance: The company’s commercial insurances provide cashless garage facilities and straightforward pay-outs, so you won’t have to deal with any complications while filing a claim. You will be contacted on your phone as soon as your claim has been completed, and the claim procedure does not take long. Additionally, zero depreciation cover is also provided for truck owners. 
  • Shriram Commercial Vehicle Insurance: Shriram’s truck insurance provides total cover against damages or losses caused by natural calamities or natural disasters. Shriram finance provides you with the option of choosing a garage for the repair of your truck and the settlements are made by the company themselves without you having to worry about anything. They provide some of the best truck insurance coverage plans with good support.
  • Bajaj Allianz: Truck insurance from Bajaj Allianz comes with a variety of benefits and coverage. Any damage or loss suffered by the insured truck as a result of incidents such as road accidents, cyclones, storms, or fire is covered by Bajaj Allianz truck insurance. The coverage also protects the driver of the car and compensates them if they suffer an injury or disability as a result of the collision.
  • SBI Commercial Vehicle Insurance: SBI truck insurance plans come with a lot of benefits and the claims are processed quickly. SBI provides key replacement cover and loss of personal belongings cover as well with their truck insurance plans. Their add-on plans also cover any kind of third-party legal liabilities. You can purchase SBI truck insurance online via the official SBI site. 
  • Navi Commercial Insurance: Navi’s insurance is primarily made for third-party legal and financial liabilities. Their insurance policy would pay off any damage caused to a third party or their property caused by the insured truck. Personal accident coverage is also provided for the owner-driver of the truck. 


3 Top Reasons to Buy Truck Insurance in India

Purchasing truck insurance is important to protect your truck from any unforeseen emergencies. A few reasons why it is important to purchase truck insurance are –

  • Required by the law: Under the Motors Vehicle Act, to drive on roads, all private and commercial trucks need to have insurance cover. People who do not own insurance for their trucks can face legal consequences under the law.
  • Financial Losses: Repair of a truck or any heavy-duty vehicle is not cheap. It can cause a serious financial strain. A good truck insurance plan protects your truck from any damages caused by accident, and the money for repairs or third-party compensations do not go out of your own pockets. 
  • Unforeseen Emergencies: No one knows when they might get involved in an accident. Not only do they cause a financial burden, but they can also lead to the loss of lives. Truck insurance plans protect you against these emergencies by providing various different types of beneficial covers. 

Truck insurance plans are important for your truck and your protection. There are a lot of add-ons to choose from when purchasing truck insurance online, such as zero depreciation cover, engine and gearbox cover, loss of revenue cover, and many others. If you cannot find yourself a good insurance plan, you can take the help of an insurance agent to find yourself the best truck insurance plans. It is very important to compare premiums of policies offered by different heavy-duty vehicles insurance companies to find the best premium and benefits plan.

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