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Overview
Features And Benefits
Third-Party Goods Carrying Vehicle
Insurance
Comprehensive Goods Carrying Vehicle Insurance
Calculate
Premium
Save
Premium
Renewal Benefits
IDV
NCB
Deductibles
Types of Goods
Carrying Vehicle Insurance
Coverages
Compare Plan
Premium
Components
Eligibility
and Required Documents
Buy / Renew
Claim Process
Terminologies
Policy
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FAQs
What is Shriram Goods Carrying Vehicle Insurance?
Heavy goods carrying vehicles are prone to many risks due to their
massive size and enormous
loads while travelling from one place to another. In order to
protect truck owners against such
unforeseen events, goods carrying vehicle insurance provides
coverage against fire, accidents,
natural disasters, natural calamities, thefts and so on
Under the Motor Vehicles Act, 1988, it is mandatory for all
vehicles, including goods
carrying vehicles, to be insured against Third-Party (TP) damage
to mitigate third-party
losses
Having a goods carrying vehicle insurance will ensure smooth
transport business
operations without any hindrance
Goods carrying vehicle insurance policy online is issued
exclusively for business owners
who use their vehicles for commercial purposes
According to Section 146 of the Motor Vehicles Act, 1988, third-party
coverage is mandatory.
Third-party (opponent vehicle owner/pedestrian) goods carrying vehicle
insurance covers
liability for third-party vehicle/property damage and third-party injury
Own Damage Coverage
Own Damage (OD) covers damages resulting from accidents, theft, fire,
natural calamities and
man-made disasters
Comprehensive Coverage
Comprehensive Coverage
includes Third-Party Coverage and Own Damage
Coverage as well
as Compulsory Personal Accident (CPA). With Shriram Comprehensive
policy, choose
suitable add-ons to enhance your coverage
How to Calculate Shriram Goods Carrying Vehicle Insurance
Premium?
The premium for Shriram Goods Carrying Vehicle Insurance will be determined by
various
factors, including the type of vehicle, model and variant, year of manufacture,
Insured
Declared Value (IDV), type of insurance policy and add-ons
Make and Model
The make and model of the vehicle are the primary factors in calculating
a goods carrying
vehicle insurance premium
Year of Manufacture
It is essential to determine a vehicle's manufacturing year in order to
determine its IDV
Insured Declared Value
The Insured Declared Value (IDV) is the vehicle's current value.
Essentially, it is the
maximum amount the insurer will pay if the vehicle suffers a total loss
in an accident
Types of Insurance
In India, third-party goods carrying vehicle insurance is mandatory. The
premium for Third-
Party goods carrying vehicle insurance depends on the vehicle's cubic
capacity
Add-ons
Individuals can choose an add-on based on their needs. This adds to the
cost of a standard
goods carrying vehicle insurance policy
Benefits of Renewing Shriram Goods Carrying Vehicle
Insurance Online
Renewing your goods carrying vehicle insurance policy is quick and easy with Shriram General Insurance's digital platform. Online renewal of goods carrying vehicle insurance provides the following benefits:
Saves time and effort
No paperwork is required
Instant renewal
Earn No Claim Bonus
Prevent insurance break-ins
How to Save on your Shriram Goods Carrying Vehicle Insurance
Premium?
Shriram General Insurance offers several types of
goods carrying
vehicle insurance policies
. A
comprehensive insurance policy for goods carrying vehicles is the
smart option for protecting
your vehicle
02
Selection of Add-ons
Add-ons should be purchased with care. However, choosing the right
add-ons will ensure
maximum coverage
03
Deductibles
Deductibles are out-of-pocket expenses that the insured must pay
during a claim. Be sure to
check the voluntary deductibles before you purchase a policy
04
Renewing On-time
Keeping your No Claim Bonus (NCB) intact requires renewing your
insurance policy on time.
Any break-in insurance will affect the NCB
05
Installing Anti-Theft Devices
Taking theft precautions, such as installing an anti-theft device
(approved by ARAI), can
result in affordable insurance premiums for goods-carrying vehicles
Frequently Asked Questions
What is a comprehensive insurance policy?
A comprehensive insurance policy protects your vehicle from unforeseen
accidents like fire,
theft, earthquakes and any third-party liability in terms of death,
physical injuries and third-party
property damage. It also has personal accident and legal liability cover
for paid drivers/cleaners
of the insured vehicle at an additional premium
What is the roadside assistance add-on cover?
Roadside assistance is additional coverage for instances where the
insured gets stuck in the
middle of the road with no way of getting help. The Shriram Goods
Carrying Vehicle
Insurance policy will ensure that the insured receives all emergency
services such as medical
assistance, towing, fuel arrangements, minor repairs, alternative
transportation and so on