Above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI (998 CC) registered in Gurgaon and 15 days before expiry of previous policy
About Shriram General Insurance Company
Shriram General Insurance Company is owned by Shriram Group, which is one of the strongest business houses in India. The company promises to deliver insurance products that meet the requirements of a common man.Multiple insurance plans are offered by the insurance company, including motor insurance plans, which are tailor-made, customer-friendly and completely transparent.
Key Features of Shriram Car Insurance
|Features||Coverage and Benefits|
|Incurred claim ratio||79.43%|
|Personal Accident Insurance||Up to 15 Lakhs|
|No Claim Bonus||Yes|
Benefits of Shriram Car Insurance
Shriram car insurance plans come with certain unique features and benefits that are as follows:
- Low-cost insurance plans with the best of the tailor-made coverage
- Fast and hassle-free claim settlement service
- No Claim Bonus on car insurance is also available
- Cashless repair facility in more than 2000 network garages across India
- Availability of Personal Accident cover for policyholders
Types of Shriram Car Insurance Policy
Shriram General Insurance Company offers three types of motor policies for four-wheelers. These are:
1.Shriram Third Party Liability
The Third Party Liability Car policy covers a policyholder against third party liabilities arising due to the insured car. Third party liability results from third party property damage, bodily injury and demise of the third party. This car insurance plan does not cover damages sustained by the insured car during an unforeseen event.
2.Shriram Standalone Motor Own Damage Policy
The Standalone Motor Own Damage policy provides coverage against own damages sustained by the insured car due to unexpected events like a road accident. The own damage car insurance does not cover third party liabilities and thus, a car owner can purchase this plan along with a third party liability car policy.
3.Shriram Private Car Package
The Comprehensive Car Insurance policy covers a policyholder against damages sustained by the insured car arising due to uncertain events like natural calamities, manmade acts, road accidents, theft and more. Moreover, a car package policy also covers third party liabilities arising due to the insured vehicle.
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Shriram Car Insurance Premium Calculator
A car owner can also make use of a Shriram car insurance premium calculator to estimate the premium of a four wheeler insurance plan before purchasing one. By doing so, the car owner will be able to ascertain if the policy fits within the budget or not.
Coverage Under Shriram Car Insurance
- In-transit Damages: Damage in transit by road, rail, inland waterway, lift, elevator, or air
- Natural Calamities: Damages due to natural calamities like an earthquake (fire and shock), lightning, cyclone, flood, typhoon, etc.
- Manmade Acts: Damages due to burglary, theft, strike, riots, malicious acts, and terrorist activity
- Third Party Liability: Damages sustained by a third party, such as death, injury and property damage, due to the insured car
- Fire: Damages sustained by the insured car due to fire, explosion, self-ignition
- Accidents: Any loss or damages caused due to accident
- Wear and Tear: Loss or damage due to normal wear, tear and general ageing of the vehicle
- Breakdown: Damages due to mechanical/ electrical breakdown/ failure or breakages
- Consequential Loss: Damages sustained by the insured car due to any consequential loss
- Other Purposes: If the vehicle is being used for any reason other than as specified in the car plan
- Invalid Driving License: Damage to the insured car when the driver is driving the vehicle without a valid driving license
- War: Loss/damage due to war, mutiny or radioactivity or nuclear risk
- Drunk Driving: Damages caused due to driving after consumption of alcohol or drugs
- Outside Geographical Area: Any accidental loss that occurs beyond the geographical area
Shriram Car Insurance Add-On
Few additional covers are offered under Shriram car insurance that can be purchased by paying an extra premium. These add-ons include:
Under the Zero Depreciation cover, the insurance company will compensate against the depreciation borne by damaged or replaced parts of the insured car. In other words, this add-on covers the depreciation of the insured car at the time of claim settlement, which is generally excluded.
Under the Daily Reimbursement add-on cover, the policyholder is entitled to a daily allowance till the time the insured vehicle is under repairs at a network garage.
The Return to Invoice cover entitles a policyholder to receive the current invoice value of the car, registration fees and road tax if the car has suffered a total loss.
Under the Loss of Personal Belongings cover, the policyholder will receive compensation against personal items lost or damaged during a car accident.
This add-on cover will compensate the policyholder with the cost of hiring a taxi if the insured vehicle has met with an unforeseen accident. Moreover, it will also cover the cost of overnight stay opted by the policyholder.
Under this additional cover, the insurance company will pay for the replacement/repair of the damaged, stolen or lost insured car keys.
A Multicar Rebate add-on cover is for those policyholders who own more than one car. This add-on cover extends the benefits of zero depreciation, key replacement and personal belongings add-on covers to other cars as well.
Add-ons for your car insurance
Bumper to Bumper Insurance
Car Accessories Cover
Compulsory Personal Accident Cover
Daily Allowance Cover
Engine Protection Cover
Key Replacement Cover
Multi-Year Car Insurance
No Claim Bonus (NCB) in Car Insurance
Personal Possessions Cover
Return To Invoice
Rim Damage Cover
Tyre Protector Cover
Voluntary Deductible in Car Insurance
Zero Depreciation Car Insurance
How to File a Claim Under Shriram Car Insurance?
To file a Shriram motor insurance claim, you will be required to follow the steps mentioned below:
- Register the Claim: The first step is to register the claim as soon as possible after the incident. You can call the insurance company's customer care and register your claim.
- Send Car for Repairs: Once the claim has been registered, the car will be sent to the garage for repairs. A surveyor is appointed to assess the loss of the insured vehicle and inspection of the same.
- Final Claim Settlement: The surveyor will verify all the relevant documents required for the final claim settlement process. Once the repairs are complete, the insurer will settle the claim directly with the network garage. If the repairs have been done in a non-network garage, you will be reimbursed the claim amount by the insurer after you settle the bill.
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Documents Required to Raise a Claim Under Shriram Car Insurance
To raise a claim under Shriram car insurance, you will have to submit the following documents to the insurance company:
- Duly filled claim form
- Copy of Driving License
- Certificate of Registration
- Police FIR
- The motor insurance policy with the schedule and endorsement/ clause
- Repair bills and estimates
How to Renew Shriram Car Insurance?
To renew Shriram car insurance from Policybazaar.com, you can follow the steps mentioned below:
- From the Insurance Products dropdown on the homepage, visit the Car Insurance page.
- In the given form, add your car number and proceed forward.
- Fill in other required details
- Select your previous claim details and policy expiry date
- Find Shriram car insurance renewal plan from the mentioned plans. Select the add-on covers you wish to add.
- Enter NCB discount on a previous car policy
- Proceed with the Summary and Payment option
- Once the premium has been verified, make the payment via the desired method.
- After you have paid the premium successfully, your Shriram car insurance renewal online will be complete. You will also receive your Shriram motor insurance renewal policy papers in your email.
Car Insurance for Popular Brands in India
Ans. Shriram motor insurance premium can be paid online via bank cards, net banking and UPI payment modes.
Ans. For checking the Shriram car policy status, you can dial the toll-free number of the company. The customer service associate will provide you with the status of your policy upon confirmation of your details. You can also check the status of your Shriram car insurance online by logging on to their official website.
Ans. Yes, you can easily renew your Shriram car insurance policy online from Policybazaar.com. However, you will not need any document for Shriram General Insurance renewal online.
Ans. You must have the following details handy so that the Shriram car insurance customer care executive can process your claim:
- Policy number
- Contact details of insured
- Date and time of the accident
- Description of the estimated loss
- Location of the accident for the surveyor to inspect
- Driver’s DL details including name and contact details
Ans.To cancel your Shriram car insurance policy, visit the nearest branch with your policy documents and a duly filled surrender form to submit at the counter. Upon a satisfactory check of documents by the office, the policy will be cancelled and the refund will be directly credited to your bank account. Alternatively, you can also contact customer care via phone to get your policy cancelled.
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Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.