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Shriram Passenger Carrying Vehicle Insurance Policy covers for commercial vehicles that transports passengers from one place to other for losses and damages such as accidents, natural disasters, man-made disasters and so on by the passenger carrying vehicle insurance policy
Nil Pending Complaints
Over 60 Lakh
Happy Customers
With 60 lakh happy customers , Shriram General Insurance has a strong insurance legacy. It is a name trusted by millions when it comes to non-motor needs. The reasons to choose Shriram General Insurance’s non-motor insurers are endless
Comprehensive Coverage includes Third-Party and Own Damage Coverage, as well as Compulsory Personal Accident cover (CPA). With Shriram Comprehensive Insurance policy, choose suitable add-ons to enhance your coverage
Own Damage (OD) covers damages resulting from accidents, theft, fire, natural calamities and man-made disasters
According to Section 146 of the Motor Vehicles Act, 1988, Third-Party coverage is mandatory. Third-party (opponent vehicle owner/pedestrian) passenger carrying vehicle insurance covers liability for third-party vehicle/property damage and third-party injury
The premium for Shriram Passenger 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
The make and model/variant of the vehicle are the primary components in calculating a passenger carrying vehicle insurance premium
The vehicle's manufacturing year is essential to determine its IDV. A vehicle's depreciation cost will rise as the year progresses hence the IDV of the vehicle changes accordingly
The Insured Declared Value (IDV) is the vehicle's current market value. It is the maximum amount the insurer will pay to the insured, if the vehicle suffers a total loss in an accident
In India, third-party passenger carrying vehicle insurance is mandatory. The premium for Third-Party passenger carrying vehicle insurance depends on the vehicle's cubic capacity
Individuals can choose an add-on based on their requirements. This adds to the cost of a standard passenger carrying vehicle insurance policy
Renewing your passenger carrying vehicle insurance policy is quick and easy with Shriram General Insurance's digital platform. Online renewal of passenger carrying vehicle insurance provides the following benefits:
The factors mentioned here can help an insured to save on their vehicle insurance premium
Shriram General Insurance offers several types of passenger carrying vehicle insurance policies. A comprehensive insurance policy for passenger carrying vehicles is the smart option for protecting your vehicle
Add-ons should be purchased with additional care. However, choosing the right add-ons will ensure maximum coverage for your vehicle
Deductibles are out-of-pocket expenses that the insured must pay during a claim. Make sure to check on voluntary deductibles before you purchase a passenger carrying vehicle insurance policy
Keeping your No Claim Bonus (NCB) intact requires renewing your insurance policy on time. Any break-in insurance will affect the No Claim Bonus
Taking theft precautions, such as installing an anti-theft device (approved by ARAI), can result in affordable insurance premiums for passenger carrying vehicles
The Shriram Passenger Carrying Vehicle Insurance policy has a minimum validity period of 12 months. The maximum validity period is determined by the chosen policy period at the time of purchase/renewal
No, the premium for Shriram Passenger Carrying Vehicle Insurance cannot be paid in instalments. The premium amount has to be paid as a single payment at the time of policy purchase/renewal
Pocket-friendly Premium
Comprehensive plans at an affordable premium
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Exclusive Add-on Covers
Add-on covers for an enhanced vehicle safety
Timely Customer Support
24*7 online customer assistance at your disposal
The Shriram Passenger Carrying Vehicle Insurance policy online offers a variety of add-ons at an additional premium for your additional safety
Types of Shriram Passenger Carrying Vehicle Insurance
A comprehensive passenger carrying vehicle insurance policy provides overall coverage for the insured commercial passenger carrying vehicle. It provides the benefits of Third-Party (TP) coverage (coverage against third-party liabilities) and Own Damage coverage (covers damage/losses incurred to the policy owner and his vehicle). With the Shriram Passenger Carrying Vehicle Insurance policy, a Compulsory Personal Accident (CPA) cover of Rs. 15,00,000/- will always be included at an affordable premiu
Coverage includes
According to Section 146 of the Indian Motor Vehicles Act, 1988, the Third-Party (TP) passenger carrying vehicle insurance is mandatory for all commercial passenger vehicles. A Third-Party (TP) liability passenger carrying vehicle insurance protects the insured from any third-party liabilities (opponent vehicle driver injury, vehicle or property damage). If the insured vehicle causes "third-party" property damage, Shriram General Insurance will compensate up to Rs. 7,50,000/- as specified in the policy. Shriram Passenger Carrying Vehicle Insurance policy provides unlimited third-party personal liability coverage to the third-party accidental death/injury caused by the insured vehicle
Coverage includes
In a nil depreciation passenger 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 repair expenses
It is mandatory to have a Personal Accident Cover as per Indian law. It provides coverage for any bodily injury or death of the owner-driver in case of any unfortunate events
In case of an accident or breakdown, Roadside Assistance cover will provide the insured with immediate assistance. It includes providing breakdown support to insureds, tyre repair service, battery assistance and towing facility to the nearest garage, among others
In the event of an accident involving an insured vehicle, Shriram Passenger Carrying Vehicle Insurance policy provides the insured with an advocate to guide and defend before the police and judicial magistrates
The policy covers you against any loss or damage caused to the vehicle due to the following natural and man-made calamities
Fire, explosion, self-ignition or lightning, typhoon, hurricane, earthquakes, floods, storms, tempest, inundation, cyclones, hailstorm, frost, landslides or rockslides
Riot, strike, malicious act, accident by external means, terrorist activity and other violent activities
Burglary, theft, any damage in transit by road, rail, inland waterway, lift, elevator or air
As per the legal proceedings, a third-party insurance policy provides unlimited coverage for death or injury to third-party vehicle owners caused by your vehicle
If your vehicle causes third-party property damage, Shriram General Insurance will offer compensation of Rs.7,50,000/- as specified in the policy document
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
Loss or liability while the vehicle is used outside the scope of limitations of use or being driven by a person not duly licensed
Consequential loss, depreciation, wear and tear, mechanical and electrical breakdown/failure or breakages will not be covered by the passenger carrying vehicle insurance
CLosses connected to nuclear, radioactivity, war and related activities are not covered under this policy
The losses and damages caused by the passenger carrying vehicle to a third-party vehicle, property or person in the event of an accident or collision
Benefits and Coverage | Third-Party Coverage | Comprehensive Coverage |
|---|---|---|
Own-Damage to the vehicle due to an accident |  |  |
Own-Damage to the vehicle due to fire | | |
Own-Damage to the vehicle due to natural calamities | | |
Third-Party damage to the vehicle | | |
Third-Party damage to property | | |
Compulsory Personal Accident Cover | | |
Theft of the vehicle | | |
Cashless Claims | | |
No Claim Bonus (NCB) | | |
Riders/Add-ons | | |
A Third-party (TP) passenger carrying vehicle insurance policy covers third-party liabilities only. However, comprehensive insurance protects the vehicle against third-party liabilities as well as personal vehicle damages
A passenger carrying vehicle insurance premium is an amount paid by the insured to an insurer for purchasing a policy. Shriram Passenger Carrying Vehicle Insurance premium calculation will be based on various factors, such as the policy chosen, cover types, add-ons and policy period
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
OD premium is a part of the total policy premium, an insured pays to get coverage against various natural and man-made disasters
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 are additional covers for the vehicle’s additional protection. The premiums depend on the type of add-on selected by the insured. Some of the popular add-ons are Zero Depreciation cover, Motor Protection cover, Roadside Assistance and Tyre Protection cover
No. Passenger carrying vehicle insurance protects only the vehicle and its owner-driver from damages/losses
Any individual who is 18 years or above with a valid driving licence
The person must own a vehicle with an original RC to purchase Shriram Passenger Carrying Vehicle Insurance online at ease
The complete buy/renew passenger 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 passenger carrying vehicle insurance
Yes. In order to transfer your insurance, you need to provide the insurer with supporting documents and make an endorsement on the policy document
You can instantly purchase a Shriram Passenger Carrying Vehicle 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
Enter the basic details of the vehicle to estimate the premium payable
Provide the details of the vehicle owner and choose the suitable policy/add-on covers of your choice
Complete the online payment and get instant passenger carrying vehicle insurance
Shriram Passenger Carrying Vehicle Insurance policy online renewal is quick and stress-free. One can renew the insurance policy in 3 simple steps with minimal documentation
Check the given existing details of your vehicle with the original RC to estimate the renewal premium
Selection of new coverages along with your existing policy
Complete your online payment and renew the passenger carrying vehicle insurance policy instantly
Purchasing a comprehensive insurance policy protects your vehicle from unforeseen accidents such as fire, theft, earthquakes, as well as third-party liability for death, bodily injury or property damage to third parties. There is a mandatory Personal Accident cover that protects the owner-driver, but additional premiums are required to cover paid drivers and cleaners against personal accident and legal liability
Visit the Shriram General Insurance website or MYSGI App or call at 1800-300-30000/1800103-3009 to register a claim and you will be contacted by our customer service team and guided throughout the passenger carrying vehicle insurance claim process
No, there are no such limits. The insured can make a claim against the insurer at any time during the policy period
No, you cannot pay the premium in instalments. As per Section 64VB of the Insurance Act, 1938, a full insurance premium is to be paid before the risk starts
The Insured Declared Value is the maximum amount the insured can get from the insurance company as a claim. The IDV is calculated by taking the vehicle's current market value and depreciation into account. If the IDV of the vehicle is less, the insured will have to pay a lower premium. Hence, one must pay close attention to the IDV mentioned by the insurer at the time of policy purchase
Personal Accident Coverage protects the person driving the vehicle. This cover is essential if the insured is involved in an accident and hospitalised for a certain period
The insured submits a claim to the insurer, requesting compensation for expenses incurred due to an unfortunate accident. After validating the insured’s claim registration, the insurer will pay the claim. The claim settlement 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
Cashless garages are a chain of garages where the insured does not have to pay cash for repair services
The existing vehicle must be sold along with the NCB reserving letter issued by the current insurer. The benefit can be transferred to the new vehicle based on the NCB reserving letter to ensure NCB continuity
Visit the SGI website/MYSGI App home page and scroll to the top to access your Shriram Passenger Carrying Vehicle Insurance account
Enter your vehicle’s insurance policy number and click "Download" to get the policy document
Note: An insured can also receive Shriram Passenger Carrying Vehicle Insurance policy document via email tooIf a person fails to renew his commercial vehicle insurance on time, the following consequences will occur:
The Third-Party insurance policy covers the following risks:
Comprehensive coverage protects your vehicle from unforeseen events such as fire, theft and earthquakes. It also covers any third-party liability in terms of death, bodily injury and thirdparty property damage
If the insured does not file a claim with the insurer during the policy period, he or she will be eligible for NCB when renewing their policy. This is referred to as the No Claim Bonus or NCB. The NCB increases for every subsequent claim-free year up to 50%
No, it varies depending on the vehicle category
The survey report will be submitted within 7 days, depending on the location of the insured premises
Yes. The add-ons can be purchased at any time of the policy period for an extensive coverage
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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.
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