Passenger Vehicle Insurance
Reliable insurance coverage for passenger carrying vehicles, protecting against on-road risks and liabilities.
Passenger Carrying Vehicle Insurance
Passenger Carrying Vehicle (PCV) insurance is a commercial motor insurance policy designed to protect vehicles that carry passengers for trade or business purposes — including school buses, tourist buses, minibuses, taxis/cabs, autos and e-rickshaws. It helps cover liabilities, vehicle damage, and injuries related to passengers and third parties.
It’s a legal requirement under the Motor Vehicles Act, 1988 for commercial passenger vehicles to have valid insurance (at least third-party cover).
Key Features
- Third-party liability coverage
- Own Damage (OD) cover
- Personal accident cover
- No Claim Bonus (NCB)
- Customizable add-ons
- Cashless claim network
Coverage Types / Plans
Core protection options for passenger carrying vehicles:
Add-Ons & Important Notes
Extended protections like zero depreciation and engine/tyre protect can be added for an extra premium. Policies usually exclude wear & tear, electrical/mechanical breakdown, driving without license, and intoxication.
Zero Depreciation
Pays full parts cost without depreciation for eligible claims.
Engine / Tyre Protect
Covers engine and tyre damage, including water ingress where applicable.
Types of Passenger Vehicles Covered
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What is Passenger Carrying Vehicle Insurance?
Passenger carrying vehicle insurance is a commercial motor policy that provides coverage for vehicles used to transport passengers for hire or business purposes.
Is it compulsory to insure passenger carrying vehicles in India?
Yes, as per the Motor Vehicles Act, 1988, having at least third-party liability insurance is mandatory for all passenger transport vehicles.
Which vehicles fall under this category?
This category includes taxis, cabs, auto-rickshaws, school buses, vans, and other vehicles used for passenger transport.
What risks are covered under this insurance?
The policy generally covers legal liability towards third parties, own vehicle damage, loss due to theft, natural and man-made disasters, and passenger-related liabilities (if opted).
Are passengers automatically covered under the policy?
Passenger coverage is usually not automatic and must be included by paying an additional premium or opting for specific endorsements.
How does this differ from private car insurance?
Unlike private car insurance meant for personal use, this policy is tailored for commercial passenger vehicles and accounts for higher risk exposure and usage.
What determines the premium for this policy?
Premium is influenced by factors such as type and seating capacity of the vehicle, nature of usage, geographic location, age and condition of the vehicle, and previous claim record.
What optional covers can be added to this policy?
You can enhance coverage with add-ons like Zero Depreciation, Engine Protection, Roadside Assistance, Loss of Income Cover, and Legal Liability for Driver.
What are the common exclusions?
Typical exclusions include use of vehicle beyond permitted limits, overloading passengers, driving without valid license or permit, normal wear and tear, and mechanical or electrical failure.
What documents are needed to file a claim?
To process a claim, you will generally need the insurance policy document, Vehicle Registration Certificate (RC), valid driving license and permit, FIR (for major accidents or theft), and duly filled claim form.