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  • Overview
  • Features And Benefits
  • Types of Goods Carrying Vehicle Insurance
  • Coverages
  • Compare Plan
  • Premium Components
  • Eligibility and Required Documents
  • Buy / Renew
  • Claim Process
  • Terminologies
  • Policy Download
  • FAQs

What is 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 good 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
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Why Choose Shriram Goods Carrying Vehicle Insurance?

  • At Shriram General Insurance's digital platform, one can purchase, renew and claim Shriram Goods Carrying Vehicle Insurance policy at ease
  • Get an instant goods carrying vehicle insurance policy with minimal documentation and a speedy application process
  • It is easy and quick to renew a policy with Shriram General Insurance's digital-friendly platform
  • To ensure timely claim settlement, we simplified the entire claim process with 24*7 online claim support
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Shriram Goods Carrying Vehicle Insurance Coverages

Third-Party Coverage

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?

The factors mentioned here can help an insured save on their vehicle insurance premium

01

Choosing Policy

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

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Inexpensive Premium

Affordable premium rates with nil commission fees

Paperless Process

A digital-friendly process with minimal paperwork

2800+ Cashless Garages

Direct claim settlement facility at special garages

Instant Claim Settlement

Hassle-free claim settlement at your fingertips

Extensive Add-on Covers

Enhanced protection through unique add-on covers

On-time Customer Support

Round-the-clock online customer assistance

Benefits of Shriram Goods Carrying Vehicle Insurance

Value for Money

  • Affordable premium is guaranteed with nil commission charges

Minimal Documentation

  • A digital-friendly platform with less or no paperwork process

Timely Customer Support

  • 24*7 online claim support for all your claim- related queries

Hassle-free Claims

  • Get your goods carrying vehicle insurance claims settled in 3 simple steps

Extensive Add-ons

  • Exclusive add-ons for enhanced vehicle protection

Frequently Asked Questions

When you renew an expired policy, will you lose the No Claims Bonus?

An insured can claim the No Claim Bonus up to 90 days after the expiration of the previous policy. The No Claim Bonus is reduced to 0% if the policy is not renewed within 90 days and no benefit is transferred

Would it be possible to transfer my NCB to a new vehicle?

Yes. The existing vehicle must be sold based on the NCB reserving letter issued by the existing insurer. By transferring the NCB reserving letter, you can take advantage of continuity benefits on the new vehicle

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Shriram Goods Carrying Vehicle Insurance policy has Comprehensive and Third-Party Liability Insurance. Choose the preferred add-on or all of them at an additional premium for your additional safety with Shriram Goods Carrying Vehicle Insurance policy online

Types of Shriram Goods Carrying Vehicle Insurance

Comprehensive Insurance

A comprehensive goods carrying vehicle insurance policy is the most preferred coverage option by the insureds. It provides the benefits of Third-Party (TP) coverage (coverage against third-party liabilities) and Own Damage coverage (covers damage/losses incurred to the vehicle owner/vehicle). With the Shriram Goods Carrying Vehicle Insurance policy, a Compulsory Personal Accident (CPA) cover of Rs. 15,00,000/- will always be included at an affordable premium

Coverage includes:

    • Third-Party Injury or Death
    • Third-Party Property Damages
    • Accidental Damages
    • Natural Calamities
    • Man-made Disasters
    • Theft
    • Fire
    • Strike/Riot
    • Add-ons*

Third-Party Insurance

In India, a Third-Party (TP) goods carrying vehicle insurance policy is mandatory for all commercial goods carrying vehicles by Section 146 of the Motor Vehicles Act, 1988. A Third- Party (TP) liability goods carrying vehicle insurance policy protects the insured against third- party liabilities (opponent vehicle/property damage or injury/death to a third-party vehicle owner). If your vehicle causes “third-party” property damage, Shriram General Insurance will offer compensation up to Rs. 7,50,000/- as mentioned in the policy document. Unlimited Third-Party personal liability coverage will be provided to the third-party vehicle owners in case of death/injury caused by your vehicle, as per the legal provisions

Coverage includes:

    • Third-Party Injury or Death
    • Third-Party Property Damages

Shriram Goods Carrying Vehicle Insurance Add-on Covers

Nil Depreciation

In a nil depreciation goods carrying vehicle insurance policy, the insurer pays the entire claim amount without considering the depreciation of the vehicle's value. This add-on feature, on the other hand, is highly advisable for everyone because it eliminates the owner's additional

Personal Accident Cover

It is mandatory to have a Personal Accident Cover as per Government law. It provides coverage for any bodily injury or death of the owner-driver in case of any unfortunate events

Roadside Assistance

In case of an accident or breakdown, Roadside Assistance cover will provide the ins ured with immediate assistance. It includes providing breakdown support, tyre repair service, battery assistance and towing facility to the nearest garage and more

Motor Protection

In the event of an accident involving an insured vehicle, Shriram Goods Carrying Vehicle Insurance policy provides the insured with an advocate to guide and defend before the police and judicial magistrates


Frequently Asked Questions

Is a Third-Party (TP) insurance policy mandatory in India?

Yes. According to Section 146 of the Indian Motor Vehicles Act, 1988, it is mandatory to buy a Third-Party liability-only policy

  • What is Covered?
  • What Not Covered?
01

Loss or Damage to your Vehicle

The policy covers you against any loss or damage caused to the vehicle due to the following natural and man-made calamities

02

Natural Calamities

Fire, explosion, self-ignition or lightning, typhoon, hurricane, earthquakes, floods, storms, tempest, inundation, cyclones, hailstorm, frost, landslides or rockslides

03

Man-made Disasters

Riots, strikes, malicious acts, terrorist activities, any violent activities are generally covered as man-made disasters

04

Accidental Damages

Burglary, theft, accidents by external means, any damage in transit by road, rails, inland waterways, lifts, elevators or air

05

Third-Party Personal Liability

The insurance policy provides unlimited coverages, i.e., whatever the court awards as your liability to the third-party due to accidental death or injuries caused by your vehicle

06

Third-Party Property Liability

In case your vehicle causes third-party property damage, the insurer will offer compensation up to Rs. 7,50,000/- for GCCV

01

Accident due to External Factors

Accidental loss or damage to the insured or any person driving with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs or wilful negligence

02

Vehicles Outside the Defined Territory

Loss or liability while the vehicle is used outside the scope of its limitations of use or being driven by a person not duly licensed

03

Other Accidental Losses

Consequential loss, Depreciation, wear and tear, mechanical and electrical breakdown/failure or breakages will not be covered by Shriram Car Insurance policy

04

Loss due to Nuclear/Radioactive Elements

Loss connected to nuclear or radioactivity or war and related activities is not covered under this policy


Frequently Asked Questions

What are the two types of goods carrying vehicle insurance policies?

  • Third-Party Liability Insurance
  • Comprehensive Insurance
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Benefits and Coverage

Third-Party Coverage

Comprehensive Coverage

Own-Damage to the vehicle due to an accident

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Own-Damage to the vehicle due to fire

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Own-Damage to the vehicle due to natural calamities

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Third-Party damage to the vehicle

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Third-Party damage to property

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Compulsory Personal Accident Cover

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Theft of the vehicle

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Cashless Claims

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No Claim Bonus (NCB)

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Riders/Add-ons

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Frequently Asked Questions

What are the benefits of Shriram Goods Carrying Vehicle Insurance online?

  • Comprehensive coverage for overall protection
  • Provides exclusive add-ons for enhanced coverage
  • Emergency financial support at your convenience
  • Simple and stress-free claim settlement process
  • 24*7 online customer assistance
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A goods carrying vehicle insurance premium is an amount paid by an insured to an insurer for purchasing a policy. Shriram Goods Carrying Vehicle Insurance premium calculation will be based on various factors, such as the policy chosen, cover types, add-ons and policy period

Third-Party (TP) Premium

According to the Indian Motor Vehicles Act, 1988, third-party liability insurance is mandatory in India. TP premiums are calculated based on the cubic capacity of the vehicle’s engine

Own-Damage (OD) Premium

It is a part of the premium, one pays to get coverage against various natural and man-made disasters. Each insurance company will have its own pricing for an Own Damage (OD) coverage premium

Compulsory Personal Accident Cover

The government has made Personal Accident coverage mandatory for vehicle owners/drivers due to the rise in injury cases. Rs. 15 Lakh is the minimum sum insured for this cover

Add-ons

Add-ons are additional covers for the vehicle’s enhanced protection. The premiums depend on the type of add-on chosen by the insured. Some of the popular add-ons are Zero Depreciation cover, Motor Protection cover, Roadside Assistance, Engine and Tyre Protection cover.


Frequently Asked Questions

Can I pay my goods carrying vehicle insurance premium in instalments?

Goods carrying vehicle insurance premiums cannot be paid in instalments. The premium for a commercial vehicle policy must be paid in advance by the insured

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01

Any individual who is 18 years or above with a valid driving licence

02

The person must own a vehicle with an original RC to purchase Shriram Goods Carrying Vehicle Insurance online at ease

03

The complete buy/renew goods carrying vehicle insurance process is online and no paperwork is required. There is no need to upload a scanned copy of the documents to get their goods carrying vehicle insurance

Documents Required for Goods Carrying Vehicle Insurance Claims

  • Registration Certificate with Fitness Certificate
  • Driving License
  • Insurance copy (Optional)
  • Permit
  • Claim Form duly filled and signed
  • Estimate, Bills, Payment receipt and discharge Voucher
  • Goods Receipt (Load Challan/Royalty for GCCV)
  • Signature ID proof (Insured)
  • Customer's bank details with a cancelled cheque for claim payment through (NEFT)
  • Customer's bank details with a cancelled cheque (Where the Premium is greater than 25,000/-)
  • FIR (If filed or required) Others (If required by the claims team, correlating with the vehicle type and severity of the accident)

Frequently Asked Questions

What are the key features of Shriram Goods Carrying Vehicle Insurance?

  • Direct settlement facility at special network garages
  • Hassle-free claim settlement
  • Enhanced protection through unique add-on covers
  • 6405882aec976e8dc205f4bc
    • Buy Shriram Goods Carrying Vehicle Insurance Online
    • Renew Shriram Goods Carrying Vehicle Insurance Online

    You can instantly purchase a Shriram Car Insurance Policy online via 3 simple steps on our website/MySGI App/call our toll-free number ( 1800-300-3000/ 1800-103-3009) at your convenience

    1

    Enter the basic details of the vehicle to estimate the premium payable

    • Vehicle Registration Number and Mobile Number
    • Details of Manufacturer and Model
    • Date of Registration
    2

    Provide the details of the vehicle owner and choose the suitable policy/add-on covers of your choice

    • Kindly enter the basic details such as Name, Email ID and Address
    • Choose the policy that fits your requirements along with the necessary add-ons to protect the vehicle
    3

    Complete the online payment and get instant goods carrying vehicle insurance

    • Kindly complete the online payment by selecting the preferred payment method (Debit Card, Credit Card or Net Banking) on the go and get your Shriram Goods Carrying Vehicle Insurance policy

    Shriram Goods Carrying Vehicle Insurance policy online renewal is quick and stress-free. One can renew the insurance policy through 3 simple steps with minimal documentation

    1

    Check the given existing details of your vehicle with the original RC to estimate the renewal premium

    • Registration Number
    • Details of Vehicle Manufacturer, Model and Variant
    • Year of Manufacture
    • Previous Insurance Policy Details
    • Change of Ownership Documents (if applicable)
    2

    Selection of new coverages along with your existing policy

    • Select the policy that fits your requirements along with the necessary add-ons to protect your vehicle
    3

    Complete your online payment and renew the goods carrying vehicle insurance policy instantly

    • Kindly complete the online payment by selecting the preferred payment method (Debit Card, Credit Card and Net Banking) on the go and get your Shriram Goods Carrying Vehicle Insurance policy renewed

    Frequently Asked Questions

    When should I renew my Shriram Goods Carrying Vehicle Insurance?

    Renew your policy before the expiry of the existing policy. Renewing on time keeps the vehicle protected against risk without any break-ins. You can also benefit from a No Claim Bonus (NCB) for claim-free years (NCB) on the next policy renewal

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    With Shriram Goods Carrying Vehicle Insurance, your claim settlement process is stress-free now

    Get your Shriram Goods Carrying Vehicle Insurance Claim Settlement in 3 Simple Steps

    • Step 1
    • Step 2
    • Step 3

    Register your Claim

    You can file a claim online at the Shriram General Insurance website or over the phone at 1800-300-30000/1800-103-3009 or through the MYSGI App. Our customer service team will guide you throughout the Goods Carrying Vehicle Insurance claim process

    Submission of Required Documents

    Submission of the required documents (Registration certificate, duly signed claim form, goods receipt and other required documents) is mandatory to proceed with the claim process further

    Verification and Claim Settlement

    As soon as your documents & process get verified & completed, we will initiate the funding process and disburse the funds directly to the recipient after verification

    Benefits of Shriram Goods Carrying Vehicle Insurance Online Claim Process

    • Instant Claim Notifications
    • Quick Claim Settlement
    • Simple Claim Procedure
    • Exceptional Customer Assistance
    • Dedicated Claim Support

    Frequently Asked Questions

    How to register a claim for Shriram Goods Carrying Vehicle Insurance?

    Visit the Shriram General Insurance website or MYSGI App or call at 1800-300-30000/1800- 103-3009 to register a claim. You will be contacted by our customer service team and guided throughout the goods carrying vehicle insurance claim process

    Can I check the status of my Shriram Goods Carrying Vehicle Insurance claim online?

    Yes. Kindly login to our website/MYSGI app with the policy number to check your Shriram Goods Carrying Vehicle Insurance policy claim status

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    Insured Declared Value (IDV)

    The vehicles are insured for a fixed sum known as the Insured Declared Value (IDV). IDV calculation is based on the manufacturer's listed selling price of the vehicle plus the listed price of any accessories (less depreciation for each year) according to the schedule specified by the Indian Motor Tariff IDV. Insured Declared Value is the current market value of the vehicle that starts depreciating when it comes out of the showroom. IDV is the compensation amount if the vehicle undergoes total loss or thef

    No Claim Bonus (NCB)

    No Claim Bonuses (NCBs) are offered to those insureds who do not make any claims during the policy term. With consecutive claim-free years, you can get NCB accordingly until it reaches up to 50%

    Add-on

    Add-on provides enhanced protection for the insured vehicle at an additional premium. An insured can enhance the coverage benefits of their basic insurance policy by purchasing an add-on cover at an additional cost


    Frequently Asked Questions

    What is claim settlement?

    The insured submits a claim to the insurer, requesting compensation for expenses incurred due to an unfortunate accident. It depends on the vehicle's Insured Declared Value (IDV) and the type of insurance policy purchased - Third-Party or Comprehensive. There are two ways to settle a claim: Cashless Claim and Reimbursement

    What is known as a Deductible?

    Deductible is a payment that the insured has to make before the insurer covers the claim. There are two types of deductibles: compulsory and voluntary deductibles

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    Step 01

    Visit the SGI website/MYSGI App home page and scroll to the top to access your Shriram Goods Carrying Vehicle Insurance account

    Step 02

    Enter your vehicle’s insurance policy number and click "Download" to get the policy document

    Note: An insured can also receive Shriram Goods Carrying Vehicle Insurance policy document via email too

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    Why should I buy/renew my goods carrying vehicle insurance policy online?

    Buying goods carrying vehicle insurance policy online is easy, secure and fast. Some other benefits are:

    • Get maximum coverage for your vehicle with comprehensive policy
    • No paperwork is required to buy your insurance policy online
    • Multiple payment options (Credit Card, Debit Card or Net Banking) are available

    What are the benefits of online goods carrying vehicle premium calculators?

    • It is easy and time-saving
    • Error-free premium calculation
    • Simple to compare the premiums
    • It is absolutely free
    • Gives an idea about the premium amount

    How do I transfer my NCB to the new vehicle?

    The existing vehicle must be sold based on the NCB reserving letter issued by the existing insurer. Based on the NCB reserving letter, the benefit can be transferred to the new vehicle to ensure NCB continuity

    Why is a Third-Party (TP) goods carrying vehicle insurance policy not enough?

    Third-Party (TP) goods carrying vehicle insurance policy covers the third-party liabilities alone. Meanwhile comprehensive insurance covers the vehicle against any third-party liabilities and own damages to the vehicle

    Is the premium calculation similar for commercial and private vehicles?

    No. It is different depending upon the vehicle category

    Can I pay my Shriram Goods Carrying Vehicle Insurance policy premium in instalments?

    No. Shriram Goods Carrying Vehicle Insurance policy premium cannot be paid in instalments. The entire premium amount must be paid before the risk starts

    When does a claim get settled?

    Upon receipt of all the relevant claim documents, along with the original repair invoice and satisfaction voucher/discharge voucher and NEFT details, the claim will be processed within a short timeframe (*T & C apply)

    In order to process a claim intimation, what is the minimum claim amount required?

    No, there is no such limit available. The insured can claim any amount from the insurer at any time within the policy period

    What is the validity of Shriram Goods Carrying Vehicle Insurance policy?

    The minimum validity of Shriram Goods Carrying Vehicle Insurance policy is 12 months. The maximum validity depends upon the policy period chosen at the time of purchase/renewal

    I have lost a Car Insurance policy. Can I get a duplicate one?

    Yes, you can submit a written request to the same office that issued the policy. A duplicate policy copy will be issued at a nominal cost

    Is it possible to have two insurance policies for the same vehicle with two different companies?

    A person can only have one goods carrying vehicle insurance policy at a time. If he or she has two policies, they can cancel one of them and be refunded based on the double insurance status

    What our customers say ?

    Rajesh kumar says,

    Thank you for your service. Shriram General Insurance offers great customer service. Quick and hassle free claim process by SGI made my life easy during the difficult period.

    Kishore kumar says,

    Thank you for your service. Shriram General Insurance offers great customer service. Quick and hassle free claim process by SGI made my life easy during the difficult period.

    Rajesh kumar says,

    Thank you for your service. Shriram General Insurance offers great customer service. Quick and hassle free claim process by SGI made my life easy during the difficult period.

    Rajesh kumar says,

    Thank you for your service. Shriram General Insurance offers great customer service. Quick and hassle free claim process by SGI made my life easy during the difficult period.

    Rajesh kumar says,

    Thank you for your service. Shriram General Insurance offers great customer service. Quick and hassle free claim process by SGI made my life easy during the difficult period.

    Rajesh kumar says,

    Thank you for your service. Shriram General Insurance offers great customer service. Quick and hassle free claim process by SGI made my life easy during the difficult period.

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