goods carrying vehicle insurance

Goods carrying vehicle insurance policy is a type of commercial vehicle insurance which provide coverage against the damage to or by a goods vehicle such as commercial tractor, goods carrying three wheeler tempo, pickup truck or heavy trucks. This policy also provide coverage to goods vehicle in case of theft, fire, collision and natural calamities.

Types of goods carrying vehicles covered

Here is the list of goods vehicles which are covered in goods carrying commercial vehicle insurance policies.

  • Three Wheeler Tempo
  • Pickup Or Small Trucks such as tata ace, mahindra bolero etc.
  • Trucks
  • Tippers
  • Trailers

What’s covered in goods carrying vehicle insurance?

accident cover


Damages caused to insured vehicle in case of an accident are covered in it.


The loss of vehicle due to theft.

theft coverage
coverage agaisnt fire


Loss or damages to insured vehicle in case of fire is covered

Third Party Liabilities

Damages to third party properties, injury, accidents are covered.

third party insurance
coverage of towing in goods carrying vehicle insurance

Towing Disabled Vehicle

Damages at the time of towing of insured vehicle is covered in this insurance.

What’s not covered?

Following are the exclusions in a goods carrying vehicle insurance policy
• General Wear & Tear
• Any loss or damage to the insured vehicle due to war, invasion or nuclear warfare etc.
• Mechanical or electrical breakdown
• Any loss or damage caused outside the geographical area of coverage as mentioned in the policy.
• Usual depreciation of the value of the goods vehicle.
• Driving without appropriate driving license.
• Non-accidental losses.
• Any loss occurred to insured vehicle while using the vehicle for racing or any illegal purposes.
• Any losses occurred while drunk driving of the goods carrying vehicle.

Third party insurance prices in 2022

TRAILERS (>40T)25038
goods carrying commercial vehicle insurance price list

Key features Goods carrying vehicle insurance

Key FeaturesBenefits
Damages to third partyTPPD cover up to 7.5 lac & Unlimited for liabilities.
Accidental CoverageUp to sum insured.
Theft CoverIncluded in comprehensive policy.
Claims ProcessHassle free paperless easy process
goods carrying vehicle insurance key features

Types of goods carrying vehicle insurance plans

  • Third party goods carrying vehicle insurance – A third party goods carrying vehicle insurance is a commercial vehicle insurance that covers any legal liabilities resulting from any third-party damages caused by the insured vehicle. It covers third-party property or person damage caused by the insured vehicle or the vehicle being carried. It also provides personal accident coverage for the truck’s owner-driver.
  • Comprehensive insurance – It protects the insured vehicle completely by covering third-party liabilities as well as own vehicle damage. In addition to third-party person and property damage coverage, it also includes any loss or damage to the insured vehicle caused by fire, accidents, natural disasters, vandalism, or theft. This insurance, just like a third party plan, also covers the owner/driver of the goods carrying vehicle for personal accidents.

How to make a cashless claim in a goods carrying vehicle insurance online

  • Inform the insurance company about the incident.
  • The insurance provider will make a physical inspection of the truck.
  • Network garage will make the repair work evaluation.
  • The insurer will approve the repair following the repair work at the network garage.
  • After repairs, the invoice is submitted to the insurance provider.
  • Fill up the claim form and submit all the other required documents.
  • The bill will be settled directly with the network garage.

Documents required

  • Copy of Registration Certificate (RC) of the truck
  • Original loss estimate
  • Original repair bill or invoice
  • Repair bill payment receipt
  • Police FIR (in case of third party liabilities)
  • Vehicle’s keys (in case of theft)
  • Non-traceable certificate (in case of theft) 

Why do you need it?

No matter, how many vehicles you operate, whether you’re an owner-driver or a multi-million rupee business, you’ll need insurance for your goods carrying vehicles; not just because it’s a legal necessity, but also because your vehicles represent a major investment that needs to be protected. Commercial goods carrying policy protects vehicles that transport commodities from one location to another. These vehicles enable businesses to carry raw materials and finished products more efficiently. Due to continuous operation, which includes long-distance travel, the vehicles are subject to a variety of risks, including accidents, natural disasters, and substantial wear and tear. All of these hazards have expenses, which can be extravagant at times. Comprehensive coverage protects you not only from injury or damage caused by your truck but also against loss or damage to the truck itself. So, you or your business don’t face unplanned losses in the case of unforeseen and unfortunate situations. This way you’ll avoid any possible downtime, maintain a profit margin and can instead spend money on your business growth.


What is goods carrying vehicle policy?

It is a type of commercial vehicle insurance which provide coverage against the damage to or by a goods vehicle such as commercial tractor, goods carrying three wheeler tempo, pickup truck or heavy trucks.

How much does commercial vehicle insurance cost in India?

Commercial vehicle insurance cost is about 9451 for a light truck if it carries private goods.

What is IMT23 cover?


What is GCV vehicle

GCV means goods carrying vehicle insurance. All type of vehicles which are used for transporting goods from one place to another are categorized as GCV. Few example of GCV vehicles are pickup van, truck, commercial tractors etc.

Can I buy goods carrying vehicle policy online?

Yes. You can buy goods carrying vehicle policy online in India from companies directly or from any web aggregator in India.

What are the documents required to buy it?

Following documents are required to purchase goods carrying vehicle policy

  • Registration certificate of the vehicle
  • Previous Insurance copy if available.
  • Valid pollution certificate, fast-tag, fitness certificate.
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