If you run a business that depends on commercial vehicles—trucks, vans, cabs, pickups—you already know how important insurance is. One accident or breakdown can cause big losses. But here’s the thing no one really tells you: Commercial Vehicle Insurance doesn’t have to burn a hole in your wallet.
At Insuremile, we’ve helped thousands of business owners get insured without spending extra. And today, we’re going to share some of our no-nonsense tips to help you find the Best Commercial Vehicle Insurance—without paying more than you need to.
Let’s get straight to it. No complicated terms. Just simple stuff that works.
Tip 1: Don’t just go with the first quote
We get it. You’re busy. You want to get the policy and move on. So the first quote that pops up feels like the easiest option. But here’s the deal—insurance prices vary a lot between companies.
One provider may charge ₹15,000 for your truck, while another offers the same Commercial Vehicle Insurance Policy for ₹11,000. That’s a ₹4,000 saving right there.
Use comparison tools (we offer one at Insuremile), and always compare quotes from at least 3 to 4 companies before deciding. The savings are worth the few extra clicks.
Tip 2: Choose the right type of policy
When it comes to Commercial Vehicle Insurance Online, there are mainly two types:
Third-party insurance – This covers only damage or injury caused to someone else. It’s the minimum legal requirement in India.
Comprehensive insurance – This one covers both third-party and damage to your own vehicle (from accident, fire, theft, natural events).
Now, if your vehicle is old and you don’t use it much, you might be tempted to just go with Commercial Vehicle Insurance Third Party. It’s cheaper, sure. But if anything happens to your vehicle, you’ll have to pay out of pocket.
So don’t just pick the cheaper option—think about how important that vehicle is to your work. Sometimes, paying a little more for better protection actually saves you more later.
Tip 3: Skip the useless add-ons
Add-ons are extras you can include in your policy—like roadside help, engine protection, or cover for goods in transit.
Some are useful. But some are just money traps.
For example, if your vehicle doesn’t carry goods, why pay for goods insurance? Or if your vehicle doesn’t run much, maybe you don’t need daily roadside help.
At Insuremile, we always say—choose only the add-ons you actually need. The fewer you add, the cheaper your premium gets.
Tip 4: Choose higher voluntary deductibles
A deductible is the amount you agree to pay if you make a claim. There are two types—compulsory (fixed by law), and voluntary (you can choose this to lower your premium).
Here’s how it works: Let’s say you choose a voluntary deductible of ₹2,000. If you get into an accident and the repair costs ₹10,000, you pay ₹2,000, and the insurer pays the rest.
Because you’re agreeing to cover a bit more during a claim, your premium gets lower upfront. If you’re a careful driver or have a vehicle in good condition, this is a smart way to get Cheap Commercial Vehicle Insurance Online.
Tip 5: Renew your policy on time
Late renewals often lead to higher premiums. If you delay your Commercial Vehicle Insurance Renewal, the insurer might treat you like a new customer. That means you could lose your No Claim Bonus (NCB) and pay more than before.
Renewing before the due date is one of the simplest ways to keep your costs low—and avoid extra paperwork.
Set a reminder. Or better yet, let us at Insuremile handle the renewal reminders for you.
Tip 6: Use your No Claim Bonus (NCB)
If you didn’t make any claims last year, you’re eligible for a discount on your renewal. This is called a No Claim Bonus. It starts at 20% and can go up to 50% if you don’t claim for five years straight.
Many people don’t even know they’re eligible. And some lose it while switching insurers.
At Insuremile, we help you carry over your NCB during Commercial Vehicle Insurance Renewal so you don’t lose out on the discount, even if you change the insurance company.
Tip 7: Consider the Insured Declared Value (IDV) wisely
IDV is the current market value of your vehicle. It affects your premium. Higher IDV = higher premium.
Some insurers offer you a higher IDV to make their policy look more “valuable.” But that means you’re also paying more.
Choose the right IDV, not the highest one. At Insuremile, we help you set a fair value so you’re protected without overpaying.
Tip 8: Go with a trusted broker or platform
This might sound biased, but having a good broker really helps. We’ve seen it all—customers paying for policies that don’t even match their needs, just because they didn’t know better.
When you buy Commercial Vehicle Insurance Online through a platform like Insuremile, we don’t just show you prices. We help you:
- Pick the right policy
- Avoid hidden charges
- Claim your NCB
- Get reminders for renewals
- Sort out claims fast if anything happens
Plus, our support team actually responds when you call. No long holds. No going in circles.
