LCV Insurance Renewal Checklist You Should Not Ignore in 2025

Renewing LCV insurance is not just a yearly formality — it directly impacts your business continuity, compliance, and financial security. Whether you own a Tata Ace, Bolero Pickup, Mahindra Jeeto or any light commercial vehicle, a timely and well-planned insurance renewal saves you from penalties, inspection delays, and high premiums.

Here’s a complete renewal checklist you must follow in 2025.

1. Check Your Vehicle’s Previous Claims

Before renewing, review your last policy year:

• How many claims were made?

• Were they major or minor?

• Should you avoid small claims next time to protect your NCB?

A clean record helps you get lower premiums and better offers.

2. Verify Your No Claim Bonus (NCB)

Cross-check your NCB percentage:

Many owners don’t know insurers sometimes miss updating NCB. Always confirm it before paying.

3. Recalculate IDV (Insured Declared Value)

Your premium depends heavily on IDV.
Low IDV → Lower premium but low claim payout
High IDV → Higher premium but strong coverage

Choose a balanced IDV that matches the current market value of your LCV.

4. Compare Multiple Premium Quotes

Never renew blindly with the same insurer.
Each company uses different pricing logic. Comparing quotes can save 10–25% easily.

5. Check Add-ons You Actually Require

Recommended add-ons for LCVs:

• Zero Depreciation Cover

• Engine Protection

• Roadside Assistance

• Personal Accident Cover

• Consumables Cover

Pick only those relevant to your daily operations.

6. Inspect Policy Details

Review:

• Deductibles

• IDV

• Add-ons

• Claim limits

• Exclusions

Small mistakes can cost you big at claim time.

7. Ensure Fitness Certificate + PUC Are Updated

Insurance renewals can be rejected if:

• Fitness lapse

• PUC expired

Keep all documents valid.

8. Renew Before Expiry

If you miss the renewal date:

• Vehicle inspection becomes mandatory

• Premium rises

• NCB drops to zero

Always renew a few days before expiry.

Conclusion

LCV insurance renewal is simple if you follow the right checklist. Taking a little time to compare and understand your policy saves money and ensures stronger protection for your commercial vehicle.