Shriram Car Insurance

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Shriram Car Insurance Review

Shriram Group is India’s one of the most strong business house which has several wings starting from Infrastructure and Energy, Industrial Manufacturing, Information technology , Food and Retail etc. Shriram group is not only a financial Services company but also caters to the non financial needs of an ordinary person. Life Insurance, Retail Stock Broking, Chit funds and Distribution of Investment and Insurance products are also a part of this business group. General Insurance of Shriram Group is another important sector where the company promises to deliver a product which meets the requirements of a common man. Multiple insurance plans like Motor Insurance Plans, Health Insurance Plans, Travel Insurance Plans, Personal Accident Plans, Home Insurance Plans for Individuals and other types of insurance too which are tailor made and customer friendly and completely transparent.

Today almost everybody owns a four wheeler which is an indication of the larger number of vehicle on the roads. And therefore quite naturally, the roads are congested and there are greater chances of mishap or accident happening on the road. Not only this, but also incidents like thefts, burglary etc are also increasing day by day. And last but not the least, no one can predict the perils of nature like earthquake, storms, cyclone etc. Keeping all these and view, one must protect his or her vehicle by making car insurance plans which provides a financial protection as well as third party protection. Shriram Car Insurance plans have such unique features which covers all these as mentioned with a nominal cost thus making the car insurance plan a very attractive one.

Shriram Car Insurance Plan at a Glance


Coverage and Benefits

Third Party Coverage:

It protects against third party liability in case of an accident.

Incurred claim ratio:


Personal Accident Insurance:

Up to Rs. 2 Lakhs

Network Garages:

2000+ network of garages across India

No Claim Bonus


Why Car Insurance Plan is necessary?

With increased number of cars every day on road, the chances of accidents also increase. And hence a protection against the loss or the risk of accidents becomes absolutely necessary to avoid the sudden financial burden and mental trauma. And therefore, such shield named as Car Insurance Plan comes into the picture which not only provides the coverage to one self but also protects oneself against the risk of third party accidental death or property damage.

Motor Vehicles Act have mandated car insurance plans which are compulsory by law  and every car owner to be supposed to have a car insurance plan which give the coverage of the third party injury, death or property damage. Hence, Shriram General Insurance provides a wide-ranging car insurance plans which protects the vehicle from any unpleasant incident.

Why Shriram Car Insurance Plan?

Shriram Car Insurance Plans have certain unique features and benefits which are as follows:

  • Low cost insurance plans with the best of the tailor made coverages.
  • Fast and hassle free claim service.
  • No Claim Bonus is also available.
  • Swift and faster claim settlement process.
  • Tracking of claim status online.
  • Existing No Claim Bonus can be transferred from any other insurer.

Here we will see an overview of Shriram Car Insurance Plan.

Shriram Car Insurance Coverages

Personal Accident Cover for Owner Driver Plan:

 The Company will compensate as per the following scale for bodily injury or unfortunate death to the owner –driver of the insured vehicle while driving or mounting or dismounting from the vehicle or while travelling as a co driver , caused by violent external and  visible means within 6 calender months which results into :

Nature of Injury

Scale of Compensation( %)



Loss of two limbs or two eye sights or one limb or one eye sight.


Loss of one limb or one eye sight


Permanent Total Disablement from injuries other than as mentioned above.



  • The compensation will be on any one item as mentioned above which arises from any one occurrence and the total liability of the insurer in aggregate will not  increase the sum  of Rs 2 lakhs  during anyone period of the insurance plan.
  • The Company will not indemnify if the there is intentional self injury suicide or attempted suicide physical defect or infirmity.  And also if there has been any consumption of alcohol.

Third Party Liability Plan:

Under this plan, the company will provide benefit where the car has damaged third party resulting to their death or injuries or the third party property. The company will pay all the costs and expenses incurred with its written consent or permission. The Company will also at its own discretion undertake the defense of proceedings in any Court of law with respect to any act or alleged offence causing or relating to any event.

Loss or damage to the vehicle Plan:

This plan covers the loss or damage caused to the vehicle or its accessories due to the following reasons:

  • Fire, explosion, self ignition, accidental damage by external means.
  • Damage in transit by road, rail, inland waterway, lift, elevator, or air.
  • Burglary, theft, strike, riots, malicious acts and terrorist activity.
  • Natural calamities like earthquake ( fire and shock), lightening, cyclone, flood, typhoon, storm, hurricane, frost, landslide, rockslide, inundation, tempest, hailstorm.

The above is subject to the depreciation at the rates mentioned as below:

  • For all rubber, nylon, plastic , tyres and tubes, batteries and air bags- 50%
  • For Fibre Glass components- 30%
  • For all parts made of glass- Nil.
  • For all other parts which includes the wooden parts as well , the depreciation will be as follows:
    • Upto 6 months  :Nil
    • 6 months -1 year :5%
    • 1-2 years :10%
    • 2-3 years :15%
    • 3-4 years :25%
    • 4-5 years :35%
    • 5-10 years: 40%
    • And above 10 years :50%

There are basically four groups under which the coverages can be classified which are namely

  • Natural Calamities which includes fire, self ignition or lighting, flood, earthquake, explosion, typhoon, storm, hurricane, tempest, cyclone, rockslide, frost.
  • Third Party Liability : This particular plan is unlimited for third party accidental death or injuries.
  • Property Liability: The company will provide a compensation upto Rs 750000/- for the third party property damage under this plan.
  • Man made calamity: Theft, burglary, strike, riots etc are covered under this plan. Any damage in transport by road, rail or water is also covered.

Insured Declared Value (IDV) under Shriram Car Insurance Plans

The IDV of a vehicle and accessories is arrived at manufacturers ex showroom price of the brand and model at the inception of the policy or at the time of the renewal. The schedule of depreciation for fixing the IDV is as below:

  • Up to 6 months  :5%
  • 6 months -1 year :15%
  • 1-2 years :20%
  • 2-3 years :30%
  • 3-4 years :40%
  • 4-5 years :50%
  • And above 5 years /obsolete models: As decided between the insurer and the insured.

The plan covers for the following value added services  as well for an additional premium :

  • Good feature discount.
  • Bi-fuel kit: The plan also covers the CNG LPG Bi Fuel Kit.
  • Electrical and electronic Accessories like music players, seat covers, LCD mini TV, fog lights etc are also can be covered under this plan.
  • Personal Accident: Under this plan one can avail this cover as insured, for the driver as well in case of paid driver and unnamed passengers as per the seating capacity of the vehicle. One can  also include their spouse, children parents unnamed passengers The Personal accident Cover is available from Rs 10000/- to a maximum of Rs 200000/-( in multiples of Rs 10000).

Exclusions under the Shriram car insurance

Shriram General Car Insurance Plans have some exclusion which one should be well-known with so that there is clear understanding of the plans and one is absolutely doubt free while applying for the same. Any loss/damage to the vehicle to its accessories will not be covered if caused due to the following reasons:

  • The plan does not cover the loss or damage due to normal wear, tear and general ageing of the vehicle.
  • This plan excludes depreciation or any consequential loss.
  • The plan does not cover mechanical/ electrical breakdown/ failure or breakages.
  • Vehicle used for any other reason other than as specified in the plan.
  • Damage to / by a person driving the vehicle without a valid driving license.
  • Loss / damage due to war, mutiny or radioactivity or nuclear risk is not covered under th3 plan.
  • The plan does not cover any accidental loss or damage occurred due to driving after consumption of alcohol or drugs is not covered under this plan.
  • Accidental loss or damage due to willful negligence.
  • Any accidental loss that occurs beyond the geographical area is also not covered under the plan.
  • The plan excludes consequential loss as well.

Shriram Car Insurance Claim Process:

The claim service of the company is highly efficient and of high standard. One can make 24x7  claims notification. Timely customer service and assistance along with survey and further assistance within a day. Simple claims procedure and ensuring high customer satisfaction.

  • Call at the toll free no of the company and lodge the claim. The following informations are to be provided:
    • Policy No
    • Date and time of accident.
    • Estimated loss/ description.
    • Registration Certificate.
    • Name of the driver with contact no and his/ her driving license details.
    • Insured Contact Details.
    • The claim intimation sheet can be downloaded from the website and can be sent to chd@shrirami[dot]com. Claim representative will contact the insured person for further process.
    •  Claim representative will provide the claim reference number for future reference.
    • After the claim gets submitted and the same is approved, a text message will be sent intimating the surveyor details.
    • A Surveyor is appointed to assess the loss of the insured vehicle and inspection of the same. Post which the approval is given and the insured is intimated about the claim status.
    • The Surveyor will contact for suitable time for survey and will conduct the survey.
    • After this, one can contact at CHD / Surveyor when the vehicle is ready for inspection.
    • The claim status can be tracked from the official website > Claims.

Documents needed to register Shriram Car Insurance claim

Documents which are to be submitted at the time of registering a claim are as under:

  • Duly Filled Claim Form.
  • Copy of Driving License.
  • Certificate of Registration.
  • Police FIR.
  • Motor Insurance Policy with schedule and endorsement/ clause
  • Copy of the plan and receipt of payment of premium.
  • Fitness certificate.

Benefits of buying online Shriram Car Insurance.

Its absolutely easy to buy Shriram Car Insurance Plans online with the following benefits:

  • Discount upto 40% when one buy online car insurance plans.
  • Nil paperwork.
  • High level of security and its very safe.
  • Payment options are various like credit card, debit or net banking.

Contact Details of Shriram Car Insurance

  • One can also email at customer[dot]care[at]sbigeneral[dot]in
  • Individuals can also opt for “Contact Us” option where after filling up few simple details a call back will be made from the Company.

Shriram General Car Insurance - FAQs

1. How to pay a premium? What are the modes of payment available?

Shriram General Insurance Company offers 5 modes of premium payment namely;

  • Auto debit
  • Cash/Cheque payment
  • Credit card/Debit card
  • Online –Net Banking

2. How can I check policy status for Shriram general car insurance?

For checking the policy status you can dial the toll free number of the company. The customer service associate will provide you the status of your policy upon confirmation of your details.

3. What is the policy renewal process for Shriram general car insurance?

Please visit your nearest branch to proceed with the renewal payment process, Upon duly filling the renewal form and payment of premium, you will renew the existing policy.
Alteratively, contact the customer service at toll free number to inquire about the renewal process.
If you had filled in a debit mandate form initially at the time of policy signup, your premium will be automatically debited.

4. What is the company’s process to settle claim for Shriram general car insurance?

You can proceed with the claim settlement by calling the customer helpdek . You must have the following details handy.

  • Policy number
  • Contact details of insured
  • Date and time of accident
  • Description of estimated loss
  • Location of the accident for the surveyer to inspect
  • Driver’s DL details including name and contact details

5. What is the policy cancellation process for Shriram general car insurance?

  1. Please visit the nearest branch with your policy documents and a duly filled surrender form to submit it at the counter. Upon satisfactory check of documents by the office, the policy will be cancelled and the refund will be directly credited in your bank account.

Shriram Car Insurance Reviews

May 16, 2016

Good Service

I purchase shriram car insurance plan. The policy cover whole damage but not the fiber part and the premiums are low. The claims sanctioned easily. The number of garages are high and all working great. The service facilitate by the executives is very nice with calm behaviour. The tow facility is given for free. Good policy, Good work.