GCV (Goods Carrying Vehicle) Insurance

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What is Goods Carrying Vehicle Insurance?

The name of the policy itself suggests that it is an insurance policy that is designed to protect the commercial vehicle carrying goods from one place to another. Considering the higher risk involved with the commercial vehicle as compared to personal vehicles, this insurance policy is designed to cover the damages and losses incurred in an accident, natural calamity, fire incidents, theft, etc.

Commercial vehicles running time is usually higher than the personal vehicle running time. The conditions of the roads in India are not very good and the commercial vehicles tend to break down during long journeys. The commercial vehicle insurance takes care of these problems as well.

However, there are different types of goods carrying vehicles that require different type of coverage. They are as follows:

  • Truck - There are different shapes and sizes of trucks. Depending on the size and weightage of the goods they businessman utilize the vehicle. Smalls trucks are used for daily purposes within the same cities and large trucks are used to carry big size and heavy goods as well as intercity travels. Be it any type of truck, the commercial vehicle insurance covers all of them.
  • Three-wheeler Tempos - Three-wheeler tempos, autos and cargos are often used to transport goods in short distances. They are small in size and less prone to accidents than trucks but still you can chose to purchase goods carrying insurance policy to protect them.
  • Four-wheeler Tempos - Four-wheeler tempos are smaller than trucks and bigger than three-wheeler tempos. These tempos are usually used for carrying furniture and electrical appliances transportation. The insurance policy covers this type of vehicle as well.
  • Tipper Vehicles - These vehicles come under the heavy vehicle category and they are used to carry the construction goods. They usually have to travel from one city to another which makes them prone to break downs and accidents. This vehicle can be covered under the insurance policy.
  • Trailers - Trailers are bigger than trucks and they are used to transport the goods from one country to another that makes them much more prone to accidents and breakdowns during transportation. The commercial insurance can be purchased to protect trailers.

Importance Of Goods Carrying Vehicle Insurance

Goods carrying vehicle are the soul of a transportation business. Hence it becomes a responsibility of the business owner to protect the vehicles with an insurance policy. The insurance policy takes off a huge burden of unforeseen damages and losses off of the policyholder’s shoulders.

With the goods carrying vehicle insurance policy the business owner can run the business smoothly. Every type of commercial, goods carrying vehicles are covered under this policy. However, it depends on the business owner to either purchase the third-party liability insurance policy or a comprehensive insurance policy.

A third-party policy will protect the liabilities arising out of third-party but a comprehensive insurance policy will provide an overall protection to the policyholder. So, let us now tell you what is covered and what is not covered under this policy?

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What's Covered in a Goods Carrying Vehicle Insurance?


Damages caused to your Goods Carrying Vehicle in case of an accident.


Loss or damage of your Goods Carrying Vehicle due to theft.


Damages caused to your Goods Carrying Vehicle due to a fire.

Natural Disasters

Damages caused to your Goods Carrying Vehicle due to any natural calamity.

Personal Accident

If your Goods Carrying Vehicle meets with an accident, leading to an injury or death of you or the driver using it.

Third Party Losses

Any damages caused by your Goods Carrying Vehicle to a third party or its passengers.

Towing Disabled Vehicles

Any damages caused to your Goods Carrying Vehicle in cases where it's being towed.

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:

Own Damages for Third-Party Policy holder

In the case of a Third-Party Liability Only Policy, damages to own vehicle won’t be covered.

Drunk Riding or without a Licence

If the owner-driver of the insured Goods Carrying Vehicle is drunk or driving without a valid license

Contributory Negligences

Any damage caused due to a contributory negligence of the owner-driver (such as driving when there’s an existing flood)

Consequential Damages

Any damage that is not a direct result of the accident/natural calamity etc.