Shriram Commercial Vehicle Insurance Overview

Shriram commercial vehicle insurance policy has been designed to provide with complete and comprehensive cover against various loss or damages owing to natural disasters, manmade calamities, malicious acts, etc. The policy also makes sure that you third-party liability cover as well.

Features of Shriram Commercial Vehicle Insurance

Not to mention that a commercial vehicle is one high valued possession. You put in a lot of your asset to buy a commercial vehicle. In addition to that, such vehicles go through a lot of hard work. Continuous functioning of such vehicles make then vulnerable to damages.

This is why insurance for commercial vehicle is absolutely necessary. Commercial vehicle insurance policy from Shriram ensures total protection to your commercial vehicles and secures your business. Let's have a look at some unique features of Shriram commercial vehicle insurance below.

Direct Claims Settlement Facility: with Shriram commercial vehicle insurance plan, you will have the freedom to choose to get your damaged vehicle repaired at an authorized garage or workstation of the company. Following the repairing procedures, the insurance provider provider will settle the expenses directly with the cashless garage or workstation.

Hassle-free Settlement:With Shriram commercial vehicle insurance policy, you can be sure of availing hassle-free settlement of claims with reliable customer assistance in your service 24x7.

Enhanced the Coverage with Unique Add-on Covers: Shriram General has a number of effective and unique add-on covers that you can choose add with your coverage to avail extra protection for your insured vehicle. On the basis of your unique needs and requirements, you may opt for any of the add-on covers in exchange for the payment of additional premium.

Shriram Commercial Vehicle Insurance Coverage

Now let's have a look at the coverage options that Shriram commercial vehicle insurance policy offers:

Protection for Insured Vehicle: Shriram commercial vehicle insurance covers the insured vehicle against various natural and manmade calamities, for instance, earthquake, blast, fire, robbery, lightning, housebreaking or burglary, riot and strike, tropical storm, flood, landslide and sea tempest, damage due to outside means, vindictive act, militant action, travel by rail, road, inland conduit, lift, waterway, or air, avalanche or rockslide etc.

Third-party Liability Cover: The policy offers security to the insured vehicle against third party legal liability that could arise out of the death, bodily injury to the occupants of a vehicle other than the insured vehicle in the event of an accident. It also covers any loss or damage to property of a third party person.

Insured Declared Value (IDV): The insured declared value (IDV) of the vehicle is basically the sum insured of the policy. This IDV is generally fixed at the time of purchase of the policy for the insured vehicle. The insured declared value is fixed on the basis of the manufacturer’s recorded selling cost of the vehicle brand and model and thereafter it is adjusted for depreciation.

Cover for Towing Vehicles: When this vehicle insured is in use for towing purpose for a precisely debilitated vehicle, this plan offers coverage. It offers benefits towards third party liability concerning such towed vehicle, subject to the terms as conditions associated with the Shriram commercial vehicle insurance policy.

Personal Accident cover for Owner-Driver: In the event of an unforeseen incident, if the owner or driver of the vehicle suffers injury or death, the policy will offer compensation for the treatment or lump sum in case of demise.

Shriram Commercial Vehicle Insurance Exclusions

The policy will offer any coverage for the following expenses:

  • The policy will not offer any coverage for the damages incurred outside the insured geographical area as printed in the policy document.
  • No coverage will be offered for any loss or damage incurred owing to the negligence of an individual.
  • If a claim arises out of any contractual liability then the policy will not cover it.
  • If the vehicle suffers any loss or damage when in use for a purpose which is different than what is mentioned in the policy document, the policy will not cover it.
  • The policy will not pay for any expenses incurred owing to radioactive contamination or ionizing radiations from nuclear waste or materials.
  • No coverage shall be given if any expense incurred because of consequential loss.
  • Any loss or damage to the vehicle arising from nuclear weapon material is excluded from coverage.
  • The policy will not entertain any claim on the basis of any expense incurred because of war or state if war, civil war, mutiny, rebel, etc.
  • Any expenses that incurs owing to mechanical and electrical breakdown of the vehicle, regular wear, tear and depreciation are not covered.
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Aggregate Rating Value on Shriram General Commercial Vehicle Insurance is 4.7 out of 5 (Total Rating Count: 30)

Aggregate Rating Value on Shriram General Commercial Vehicle Insurance is 4.7 out of 5 (Total Rating Count: 30)