Clock

24*7 Claim Notifications

compliants

100% Paperless

compliants

Best Claim settlement Awards 2022

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

What is Passenger Carrying Vehicle Insurance?

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

  • A passenger carrying vehicle insurance policy is a contract between the vehicle owner and the insurer against various insured events
  • The Indian Motor Vehicles Act, 1988 mandates that all vehicles must be insured with third-party motor insurance to prevent losses and damages to the third-party vehicle/owner/property
  • Bus insurance, van insurance, taxi/cab insurance and auto-rickshaw insurance are the most common types of passenger carrying vehicle insurance
Read More

Nil Pending Complaints

Over 60 Lakh
Happy Customers

Why Choose Shriram Passenger Carrying Vehicle Insurance?

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

  • With our end-to-end digital platform, one can buy, renew and claim passenger carrying vehicle insurance from the comfort of their own home
  • At a budget-friendly premium, Shriram Passenger Carrying Vehicle Insurance offers comprehensive protection against natural and man-made disaster damages
  • To ensure timely assistance, claims are settled within a short period. With our dedicated team, Shriram Passenger Carrying Vehicle Insurance provides round-the-clock claims support
Read More

Shriram Passenger Carrying Vehicle Insurance Coverages

Comprehensive Coverage

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 Coverage

Own Damage (OD) covers damages resulting from accidents, theft, fire, natural calamities and man-made disasters

Third-Party Coverage

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

How to Calculate Shriram Passenger Carrying Vehicle Insurance Premium?

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

Make and Model/Variant

The make and model/variant of the vehicle are the primary components in calculating a passenger carrying vehicle insurance premium

Year of Manufacture

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

Insured Declared Value

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

Type of Insurance

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

Add-ons

Individuals can choose an add-on based on their requirements. This adds to the cost of a standard passenger carrying vehicle insurance policy

Benefits of Renewing Shriram Passenger
Carrying Vehicle Insurance Online

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:

  • Effortless and time-saving
  • Paperless Process
  • Quick renewal
  • Advantage of No Claim Bonus s
  • Avoid insurance break-ins

How to Save on your Shriram Passenger Carrying Vehicle Insurance Premium?

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

01

Choosing Policy

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

02

Selection of Add-ons

Add-ons should be purchased with additional care. However, choosing the right add-ons will ensure maximum coverage for your vehicle

03

Deductibles

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

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 No Claim Bonus

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 passenger carrying vehicles


Frequently Asked Questions

How long is the Shriram Passenger Carrying Vehicle Insurance policy valid

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

Can I pay the premium of Shriram Passenger Carrying Vehicle Insurance policy in instalments?

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

6405894f2d0775fc6c0d1c0c

Pocket-friendly Premium

Comprehensive plans at an affordable premium

Easily Accessible Anywhere

An easy to access digital-friendly platform

2800+ Cashless Garages

Direct claim settlement facility at special garages

Quick Claim Settlement

Stress-free claim settlement at your fingertips

Exclusive Add-on Covers

Add-on covers for an enhanced vehicle safety

Timely Customer Support

24*7 online customer assistance at your disposal

Key Features of Shriram Passenger Carrying Vehicle Insurance

Competitive Premium

  • Affordable premium rates with nil commission fees

Paperless Process

  • A digital-friendly platform with minimum documentation process

24*7 Customer Support

  • 24*7 online claim support for a stress-free claim experience

Timely Claim Settlement

  • Register and get your claims settled in 3-simple steps 

Exclusive Add-on Covers

  • Unique add-ons available for additional vehicle protection

Frequently Asked Questions

What are the benefits of purchasing Shriram Passenger Carrying Vehicle Insurance online?

  • Avoid legal penalties with the most affordable premium
  • Comprehensive vehicle coverage for complete protection
  • Emergency roadside assistance at your convenience
  • Easy and hassle-free claim settlement process
  • Round-the-clock customer support for all your queries
64058976ec976e8dc205f4bf

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

Comprehensive Coverage

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

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

Third-Party Insurance

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

  • Third-Party Vehicle Owner Injury
  • Third-Party Vehicle Damages

Shriram Passenger Carrying Vehicle Insurance Add-on Covers

Nil Depreciation

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

Personal Accident Cover

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

Roadside Assistance

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

Motor Protection

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

Frequently Asked Questions

Mention some of the Shriram Passenger Carrying Vehicle Insurance policy add-ons?

  • Nil Depreciation
  • Personal Accident Cover
  • Roadside Assistance
  • Motor Protection
640589e090ab64790f00b349
  • What is Covered?
  • What is 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

Riot, strike, malicious act, accident by external means, terrorist activity and other violent activities

04

Accidental Damages

Burglary, theft, any damage in transit by road, rail, inland waterway, lift, elevator or air

05

Third-Party Personal Liability

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

06

Third-Party Property Liability

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

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 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 the passenger carrying vehicle insurance

04

Loss due to Nuclear/Radioactive Elements

CLosses connected to nuclear, radioactivity, war and related activities are not covered under this policy

Frequently Asked Questions

What are third-party losses?

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

64058a1a2d0775fc6c0d1c0d

Benefits and Coverage

Third-Party Coverage

Comprehensive Coverage

Own-Damage to the vehicle due to an accident

teable_tick_iconteable_tick_icon

Own-Damage to the vehicle due to fire

teable_cross_iconteable_tick_icon

Own-Damage to the vehicle due to natural calamities

teable_cross_iconteable_tick_icon

Third-Party damage to the vehicle

teable_tick_iconteable_tick_icon

Third-Party damage to property

teable_tick_iconteable_tick_icon

Compulsory Personal Accident Cover

teable_tick_iconteable_tick_icon

Theft of the vehicle

teable_cross_iconteable_tick_icon

Cashless Claims

teable_cross_iconteable_tick_icon

No Claim Bonus (NCB)

teable_cross_iconteable_tick_icon

Riders/Add-ons

teable_cross_iconteable_tick_icon

Frequently Asked Questions

Why is a Third-Party (TP) vehicle insurance policy insufficient?

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

64058a47ec976e8dc205f4c0

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

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 Premium

OD premium is a part of the total policy premium, an insured pays to get coverage against various natural and man-made disasters

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 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

Frequently Asked Questions

Will the passenger carrying vehicle cover the passengers on board?

No. Passenger carrying vehicle insurance protects only the vehicle and its owner-driver from damages/losses

64058a7990ab64790f00b34a

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 Passenger Carrying Vehicle Insurance online at ease

03

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

Documents Required for Passenger 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
  • Passenger list for PCCV
  • 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)

Frequently Asked Questions

Can my passenger carrying vehicle insurance be transferred?

Yes. In order to transfer your insurance, you need to provide the insurer with supporting documents and make an endorsement on the policy document

64058aa8ec976e8dc205f4c1
  • Buy Shriram Passenger Carrying Vehicle Insurance Online
  • Renew Shriram Passenger Carrying Vehicle Insurance Online

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

1

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

  • Vehicle Registration Number and Mobile Number
  • Details of Manufacturer, Model and Variant
  • 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 passenger 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 Passenger Carrying Vehicle Insurance policy

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

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
  • 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 passenger carrying vehicle insurance policy instantly

  • 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 Passenger Carrying Vehicle Insurance policy renewed

Frequently Asked Questions

What is a comprehensive insurance policy?

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

64058acf90ab64790f00b34b

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

  • Step 1
  • Step 2
  • Step 3

Register your Claim

  • 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

Submission of Required Documents

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

Verification and Claim Settlement

  • After receiving the documents, our dedicated surveying team will begin the validation process. Upon completion of the survey, the funds will be sent directly to the recipient

Benefits of Shriram Passenger Carrying Vehicle Insurance Online Claim Process

  • Timely Claim Notifications
  • Instant Claim Settlement
  • Easy Claim Procedure
  • Quick Customer Assistance
  • 24*7 Online Claim Support

Frequently Asked Questions

What is the minimum claim amount required to process a claim notification?

No, there are no such limits. The insured can make a claim against the insurer at any time during the policy period

Can I pay Shriram Car Insurance policy premium in instalments?

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

64058afb90ab64790f00b34c

Insured Declared Value (IDV)

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 Insurance

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

Claim Settlement

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

Frequently Asked Questions

What are cashless garages?

Cashless garages are a chain of garages where the insured does not have to pay cash for repair services

What is the process for transferring my NCB to my new vehicle?

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

64058b2190ab64790f00b34d
kyc_app_form

Step 01

Visit the SGI website/MYSGI App home page and scroll to the top to access your Shriram Passenger 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 Passenger Carrying Vehicle Insurance policy document via email too
64058b4490ab64790f00b34e

What will happen if I don't renew my passenger carrying vehicle insurance on time?

If a person fails to renew his commercial vehicle insurance on time, the following consequences will occur:

  • If the vehicle is involved in an accident, the insurer will not pay the claims
  • The insured will not receive any no-claims bonus
  • Driving a vehicle with expired insurance is illegal and can result in fines

What types of risks are covered by Third-Party insurance cover?

The Third-Party insurance policy covers the following risks:

  • Third-party death or injury
  • Third-party vehicle and property damages

What do you mean by comprehensive coverage?

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

What is a No Claim Bonus?

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%

Is the premium calculation for commercial and private vehicles the same?

No, it varies depending on the vehicle category

What is the maximum duration for a vehicle claim survey?

The survey report will be submitted within 7 days, depending on the location of the insured premises

What are the benefits of Shriram Passenger Carrying Vehicle Insurance online claim process?

  • Timely Claim Notifications
  • Instant Claim Settlement
  • Easy Claim Procedure
  • Quick Customer Assistance
  • 24*7 Online Claim Support

Is it possible to add an additional cover for enhanced vehicle protection after the purchase of the policy?

Yes. The add-ons can be purchased at any time of the policy period for an extensive coverage

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.

Blogs

KKR invests in Shriram General Insurance

Posted on 23 Aug 2022

KKR, a leading global investment firm, and Shriram General Insurance Company (“Shriram General Insurance”, “SGI” or “the Company”), a leading ...

Read more

Tips on how to choose Car
Insurance

Posted on 23 Aug 2022

Do you know, what is the reason for insuring the vehicle? Or why we should insure our vehicle with the foremost insurance company? If it is because the...

Read more

Budget 2022: General insurers seek exemptions, tax parity

Posted on 23 Aug 2022

This Union Budget 2022, the insurance companies want their space to encourage the use of insurance with lower GST on premiums. The COVID-19 ...

Read more
View all
Quick renewal
Back to Topback_to_topback_to_top

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.

Terms and Conditions |Refund and Cancellation© 2023 Shriram General Insurance. All rights reserved.