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Overview
Features And Benefits
Third-Party Goods Carrying Vehicle Insurance
Comprehensive Goods Carrying Vehicle Insurance
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Renewal Benefits
IDV
NCB
Deductibles
Types of Goods Carrying Vehicle Insurance
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Claim Process
Terminologies
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Shriram Goods Carrying Vehicle Insurance Terminologies

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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Blogs

Active vs Passive ADAS Systems

Posted on 2025-05-09 12:21:16

Modern automobiles are more than machines; they are intelligent road companions. With India's increasing traffic, erratic driving habits, and accident rate, advanced driver assistance systems (ADAS) are becoming essential rather than optional. However, not all systems operate in the same manner. While some actively work to prevent collisions, others protect you in the case of one. Every Indian driver of today has to understand both active and passive safety. This information may be just as crucial when selecting your next car as mileage or engine specifications. Let's look at the differences between active and passive ADAS and how they work.

Top 10 Road Safety Tips You Should Know

Posted on 2025-05-08 12:11:21

Every time you drive in India, you're a part of one of the world's busiest road networks. The facts are clear: according to the Ministry of Road Transport & Highways (MoRTH) Road Accidents in India 2022 Report, over speeding was the primary cause of more than 70% of the 1.68 lakh road accident deaths that occurred in 2022. Road safety regulations must be followed regardless of whether you drive occasionally or on a regular basis. These 10 key safety tips are especially for Indian drivers. Read on to know more.

What is Wheel Speed Sensor and ABS?

Posted on 2025-05-07 06:53:12

With increasing traffic, unpredictable road conditions, and varied terrain, driving in India demands more than just good reflexes—it requires reliable vehicle safety systems. Two unsung heroes of modern car safety are the wheel speed sensor (WSS) and the anti-lock braking system (ABS). When combined, they improve your car's braking efficiency and overall safety. This blog discusses wheel speed sensors, ABS, their functions, and their importance, particularly on Indian roads.

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Quick renewal

IRDAI Consumer Education:- Insurance is the subject matter of solicitation. IRDAI Registration Number - 137. CIN No. U66010RJ2006PLC029979. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

Helpline Number

180030030000 18001033009

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