Shriram Commercial Vehicle Insurance

About Shriram General Insurance

A joint venture between Shriram Group and Sanlam Limited, Shriram General Insurance was incorporated in July 2006. The Company aims to provide customers with customized insurance solutions. It offers a wide range of insurance products, such as motor, health, travel, and home insurance. The company aims to build a strong presence, especially in the rural and semi-urban segments of India.

Key Features of Shriram Commercial Vehicle Insurance

Benefits of Shriram Commercial Vehicle Insurance

Some of the common benefits of Shriram commercial vehicle insurance are listed below:

• It offers 24x7 customer support.
• There are 2800+ cashless garages for direct and quick claim settlements.
• The insurer offers several add-on covers for enhanced insurance coverage.

Types of Shriram Commercial Vehicle Insurance

Shriram General Insurance Company offers two types of commercial vehicle insurance policy that are mentioned below:

• Liability Only Commercial Vehicle Insurance: This type of insurance is also known as a third-party commercial vehicle insurance. It is a mandatory insurance as per the Indian Motor Laws and provides coverage only for third-party, person or property damage.
• Comprehensive Commercial Vehicle Insurance: This type of insurance offers coverage for both third-party losses and damages caused to the insured vehicle. Policyholders can also include various add-ons to enhance the coverage.

Shriram Commercial Vehicle Insurance Add-Ons

Policyholders can choose some of the common optional covers under the Shriram commercial vehicle insurance mentioned below:

• IMT 23: It covers damages caused to excluded items, such as lamps, tyres, tubes, mudguards, bonnet, side parts bumpers, headlights and paintwork of damaged portions in a collision or accident after deducting the depreciation costs based on the age of the vehicle.
• Zero Depreciation: Every year, the insured vehicle incurs a depreciation cost due to regular wear and tear. With this optional cover, the insurer will not deduct the depreciation costs incurred by repaired or replaced parts during an accidental claim.
• PA Cover: It is mandatory to have a PA cover of up to ₹15 lakh as per the Indian Motor Vehicle Act.
• Accessories Cover: This add-on covers damages caused to any electrical and non-electrical accessories that are additionally fitted and not listed under the manufacturer's initial selling price.

How to Buy Shriram Commercial Vehicle Insurance?

Policyholders can easily buy and renew Shriram commercial vehicle insurance online from Policybazaar Insurance Brokers Private Limited using the steps mentioned below:

• Step 1: Visit policybazaar.com
• Step 2: Select 'commercial vehicle insurance'
• Step 3: Enter the vehicle registration number and click on submit
• Step 4: Select the IDV, NCB (in case of renewals), and add-ons as per requirements
• Step 5: All the plans will be displayed. Choose the Shriram commercial vehicle insurance plan
• Step 6: Pay the premium using netbanking/credit card/debit card/UPI.
• Step 7: The policy will be instantly sent on your registered email address.

How to File a Claim Under Shriram Commercial Vehicle Insurance?

The insured must follow the steps mentioned below to file a Shriram commercial vehicle insurance claim:

Documents Required for Shriram Commercial Vehicle Insurance Claim

The following documents are required to file a Shriram commercial vehicle insurance claim:

• Vehicle Registration Certificate (RC)
• Valid Driving License
• Duly Filled and Signed Claim Form
• State and National Permits
• Challans and Receipts
• Repair Invoice
• FIR (if applicable)

Shriram Commercial Vehicle Insurance FAQs