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What is a Goods Carrying Vehicle Insurance?
As the name suggests, a goods carrying vehicle insurance is a type of commercial vehicle insurance, designed to protect commercial vehicles used for the purpose of transporting goods from one place to another. Given that these vehicles are comparatively prone to more risks, a goods carrying vehicle insurance can cover for losses and damages during uncertain circumstances such as accidents, collisions, thefts, natural calamities and fires.
Types of Goods Carrying Vehicles
There are various types of goods carrying vehicles, basis the nature of different businesses in India. Some of the common examples of goods carrying vehicles includes:
- Trucks - Trucks come in different shapes and sizes. From small trucks used to deliver daily essentials to larger trucks used to transport goods like furniture and appliances. All types of goods carrying trucks can be covered under a commercial insurance policy.
- Tempos - Tempos are comparatively smaller than trucks, and often used for transportation and delivery of goods within the city. The same can be covered too, under a goods carrying vehicle insurance.
- Three-Wheel Vehicles - Cargo autos or three-wheel vehicles are small goods carrying vehicles often used for delivery of goods within the city. Since they are smaller in size, they are prone to lesser risks as compared to trucks and trailers. However, they can still be covered under a goods carrying vehicle insurance for maximum protection and minimal business losses.
- Trailers - Trailers are large goods carrying vehicles; often used across the country for the transportation of heavy goods. Given the risk associated with them, it is almost mandatory to cover them with a goods carrying vehicle insurance.
- Tippers - Tippers are a type for heavy vehicle and goods carrying vehicle; often used to transport construction goods. The same can be covered under Digit’s commercial insurance policy, to protect it from potential risks.
Why choose a Goods Carrying Vehicle Insurance by Digit?
What's Covered in a Goods Carrying Vehicle Insurance?
What’s not covered?
It is equally important to know what’s not covered in your goods carrying vehicle insurance policy so that there are no surprises when you make a claim. Here are some such situations:
If you’re only going to go for a Third-Party Commercial Insurance for your commercial vehicle, then own damages and losses won’t be covered.
If during a claim, the driver-owner is found to be driving the insured vehicle without a valid driver’s license or under the influence of alcohol then the claim can’t be approved.
Any damages or losses caused to the goods carrying vehicle due to contributory negligence won’t be covered for. For example, if there are existing floods in the city, and one still takes the vehicle out.
Consequential damages is any damages or losses that aren’t a direct result of an accident, natural calamity or fire can’t be covered for.
Key Features of Goods Carrying Vehicle Insurance by Digit
| Key Features | Digit Benefit |
|---|---|
| Claim Process | Paperless Claims |
| Customer Support | 24x7 Support |
| Additional Coverage | PA Covers, Legal Liability Cover, Special Exclusions and Compulsory Deductibles, etc |
| Damages to Third-Party | Unlimited Liability for Personal Damages, Up to 7.5 Lakhs for Property/Vehicle Damages |
Types of Goods Carrying Vehicle Insurance Plans
Based on the type of your heavy-duty vehicle and number of vehicles you want to insure, we offer two primary plans you can choose from.
| Liability Only | Standard Package |
Damages caused by your goods carrying vehicle to any third-party person or property. |
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Damages caused to any third-party person or property by the vehicle being towed by your insured goods carrying vehicle. |
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Loss or damages to own goods carrying vehicle due to natural calamities, fire, theft or accidents. |
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Injury/death of goods carrying vehicle owner-driverIf the owner-driver doesn’t already have a Personal Accident Cover from before |
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| Get Quote | Get Quote |
How to claim?
Call us at 1800-258-5956 or drop us an email at hello@godigit.com
Keep your details such as policy number, location of the accident, date & time of the accident, and contact number of the insured/caller handy to make our process easier.
Why should I buy a Goods Carrying Vehicle Insurance?
- Insuring your goods carrying vehicle can help you reduce your business risk and potential losses that could arise due to unforeseen circumstances such as accidents, natural calamities, collisions, fires and thefts.
- As per the Motor Vehicle Act, it is compulsory for all vehicles, including goods carrying vehicles to at least have a third-party commercial vehicle insurance in place. This helps cover for any potential third-party damages and losses.
- Heavy vehicles, such as heavy goods carrying vehicles are prone to a lot of risks; both due to the size of the vehicle and the commercial purpose of the same. A goods carrying vehicle insurance helps to stay covered against potential risks such as fires, accidents, natural calamities and thefts.
FAQs about Goods Carrying Vehicle Insurance Online in India
Does a goods carrying vehicle insurance also cover for the driver?
Yes, this commercial vehicle insurance for goods carrying vehicles also covers for the owner-driver.
Is it mandatory to insure a heavy-duty vehicle?
Yes, according to the Motor Vehicle Act, it is mandatory to at least have a third-party insurance policy for your goods carrying vehicle to run legally on Indian roads.
Will the goods be covered too under a goods carrying vehicle insurance?
No, it won’t. A goods carrying vehicle insurance only protects the vehicle from damages/losses and the owner-driver from any bodily injuries.
How much does a commercial insurance for a goods carrying vehicle cost?
This depends on the type of goods carrying vehicle you’re looking to insure, and the primary city it operates it. You can check the potential premium for your goods vehicle insurance here.