Divyansh says,
Shriram General Insurance is the best travel insurance and i can confidently recommend.Truly the best online travel insurance site in India. Thanks to Shriram General Insurance !.
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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
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Over 60 Lakh
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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
Any individual or business entity using a vehicle for the purpose of transporting goods must obtain Passenger Carrying Vehicle Insurance. For example, vehicles such as trucks, tractors, construction vehicles or any other heavy vehicle
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:
In India, it is mandatory for vehicle owners to have a valid insurance policy for their vehicles. Failure to renew the policy on time can lead to legal consequences, including fines and penalties. By renewing their Passenger Carrying Vehicle Insurance policy on time, insureds can avoid such legal consequences
The Passenger Carrying Vehicle Insurance online saves policy holders time and effort. The online policy renewal makes it quick and easy for policy holders to compare different policies and choose the one that suits their budget and requirements
Renewal of a Passenger Carrying Vehicle Insurance policy online is a quick and hassle-free process. A vehicle owner can compare different policies, choose the suitable coverage for their vehicle and renew their policy online
No-Claim Bonus is offered by insurers to the insureds who have not made any claims in the previous year. The NCB can range from 20% to 50% of the premium amount, depending on the number of claim-free years
Renewing Passenger Carrying Vehicle Insurance policy ensures that there is no break in the insurance coverage of the vehicle. This means that vehicle owners can remain protected against risks such as accidents, theft and natural calamities, even if they occur during the renewal process
If you are buying a new Passenger Carrying Vehicle Insurance policy, you can choose zero depreciation add-on cover to enhance the coverage. It is important to compare different policies to get the right coverage at a reasonable price
Commercial vehicle owners can enhance the coverage provided by their Passenger Carrying Vehicle Insurance policy by opting for add-on covers such as engine protection, zero depreciation and roadside assistance
Renewing Passenger Carrying Vehicle Insurance policy online is an easy and stress-free process that can be completed in a matter of minutes. Passenger carrying vehicle owners can compare different policies, choose the best coverage for their vehicle and renew their policy online
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. Consider the coverage, premium and add-ons offered before choosing a policy
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. Renewing the Passenger Carrying Vehicle Insurance policy on time is important as it avoids any penalties or additional costs
Passenger carrying vehicles that have safety features such as anti-theft devices, airbags and ABS brakes are considered to be safer and are at a lower risk of accidents. Taking theft precautions, such as installing an anti-theft device (approved by ARAI), can result in affordable insurance premiums for passenger carrying vehicles
One can save on the premium for Passenger Carrying Vehicle Insurance in India by choosing a preferable voluntary deductible, opting for long-term policies, maintaining a clean driving record and installing safety devices in the vehicle. Additionally, one can compare different policies to get the right coverage at an affordable pricing
The Passenger Carrying Vehicle Insurance premium calculator takes into account all the relevant factors to provide accurate estimates. This ensures that policy holders can make an informed decision while purchasing a Passenger Carrying Vehicle Insurance policy and avoid any surprises during the claims process
Yes. The Passenger Carrying Vehicle Insurance premium calculator allows policy holders to customise their coverage and choose the add-ons they require. This helps them to personalise their policy and pay only for the coverage they need
Zero depreciation add-on cover offers comprehensive coverage for your commercial vehicle, which includes damages to the body of the vehicle, plastic and rubber parts, without factoring in depreciation
In the event of an accident, the policy holder is not required to pay for the depreciation of the vehicle parts, which can be a significant expense
The zero depreciation add-on cover ensures that the damaged parts of the vehicle are replaced with new parts, which increases the life of the commercial vehicle
You may be able to add zero depreciation coverage to the Passenger Carrying Vehicle Insurance policy after the vehicle has been assessed by the insurance company
Having a zero-depreciation add-on helps the insured to get their full claim amount during a settlement, without taking depreciation costs into account, for a maximum number of claims specified in their policy and up to the sum insured
A Comprehensive Passenger Carrying Vehicle Insurance policy covers both third-party and own damages. Zero-depreciation cover is an optional coverage that can be purchased in addition to a comprehensive policy to avoid depreciation cost during a claim
No, the deductible is not applicable to third-party claims, as liability is borne entirely by the insurance company
Choosing a voluntary deductible can help policy holders lower their premium amount, as they are opting to bear a higher portion of the risk in case of a claim
The choice of the voluntary deductible amount depends on the policy holder's financial situation and risk appetite. While a higher voluntary deductible can result in a lesser premium, it should be balanced with the policy holder's ability to pay the deductible amount in case of a claim
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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
In the event of accidental damage, the total cost of replacing vehicle parts can be claimed without depreciation costs
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
Third-Party insurance does not provide financial compensation for any injuries or damage sustained by the insured or their vehicle in an accident for which they are at fault
Yes, Passenger Carrying Vehicle Insurance can be transferred to a new owner upon the sale of the vehicle, but the new owner will need to get the policy transferred in their name and update the policy details accordingly
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
Comparing Passenger Carrying Vehicle Insurance policies online is a wise idea, as you can get an idea of the premiums of different insurance policies in just a few seconds
Add-on coverage is not mandatory, but it is helpful to enhance your insurance policy. Purchasing an add-on cover will boost your insurance coverage and act as a safety shield during unforeseen incidents
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
Shriram Passenger Carrying Vehicle Insurance premium calculation is based on various factors, such as policy type, coverage, add-ons and policy period
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
Once you have made a payment, we will send the policy documents to your registered email address. The policy holder can also download the policy directly from the policy download section on the website
Step 1: Visit the SGI website/MYSGI App home page and scroll to the top to access your Shriram Passenger Carrying Vehicle Insurance account
Step 2: Enter your vehicle’s insurance policy number and click (Download Policy) to get 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
No. Purchasing Shriram Passenger Carrying Vehicle Insurance online does not require the submission of any hard copies of documents
The policy holder can instantly renew Shriram Passenger Carrying Vehicle Insurance policy online through our website/MySGI App/call our Toll-Free number (1800-300-30000/1800-103-3009) at your convenience
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, 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 tenure of Passenger Carrying Vehicle Insurance policies in India is typically one year, but some insurance companies offer policies for longer durations
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
In Nil Depreciation add-on cover, the insurer pays the entire claim amount without considering the depreciation of the vehicle's value. On the other hand, this add-on feature is highly recommended because it eliminates the owner's additional repair costs
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:
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
Yes, you can renew your Passenger Carrying Vehicle Insurance policy online in India
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%
If you don't renew your Passenger Carrying Vehicle Insurance policy on time, you will lose the coverage and will have to pay a penalty to renew it
No, it varies depending on the vehicle category
Yes. The policy holder must specify the value of the accessories installed in the vehicle before purchasing the insurance policy
Yes, you can transfer your Passenger Carrying Vehicle Insurance policy to a new owner when you sell your vehicle
The survey report will be submitted within 7 days, depending on the location of the insured premises
The insured must provide documents such as the vehicle registration certificate, driving licence and ID proof to claim passenger-carrying vehicle insurance in India
Yes. The add-ons can be purchased at any time of the policy period for an extensive coverage
The time taken to process a Passenger Carrying Vehicle Insurance claim in India depends on the nature of the claim and the insurance company's policies
Yes, you can purchase this insurance policy online through the website of your chosen insurer
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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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