Shriram Car Insurance

Shriram Group is India’s one of the most strong business houses 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, customer friendly and completely transparent. 

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Almost everybody owns a four-wheeler these days. 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 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 policies which provides financial protection as well as third-party protection. Shriram Car Insurance plans are inclusive of unique features that are available at a nominal cost.

Shriram Car Insurance Plan at a Glance

Features Coverage and Benefits
Third Party Coverage: It protects against third party liability in case of an accident.
Incurred claim ratio: 103.18%
Personal Accident Insurance: Up to Rs. 15 Lakhs
Network Garages: 2071 network of garages across India
No Claim Bonus Yes

Why Car Insurance Plan is necessary?

With the increasing number of cars every day on road, the chances of accidents also increase. Therefore, protection against the loss or the risk of accidents becomes absolutely necessary to avoid the sudden financial burden and mental trauma. This is where a car insurance plan comes into the picture that not only covers the owner/driver but also protects the insured against the risk of third-party accidental death or property damage.

As per the Motor Vehicles Act, it is mandatory to buy a car insurance plan for every car owner as it covers third party injuryies death or property damage. Shriram General Insurance Co. Ltd. provides wide-ranging car insurance plans, which protect the vehicle from any unpleasant incident.

Why Shriram Car Insurance Plan?

Shriram car insurance plans have certain unique features and benefits that 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 Coverage

Personal Accident Cover for Owner Driver Plan:

You can buy this add-on benefit for yourself, paid car driver, and even unnamed passengers.

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 calendar months which results into:

Nature of Injury Scale of Compensation( %)
Death 100
Loss of two limbs or two eye sights or one limb or one eye-sight. 100
Loss of one limb or one eye-sight 50
Permanent Total Disablement from injuries other than as mentioned above. 100
  • 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.15lakhs  during anyone period of the insurance plan.
  • The Company will not indemnify if 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 in 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 offense 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 an 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 coverage 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 manufacturer's 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 the 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 Car insurance plans have some exclusion. 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 aging of the vehicle.
  • This plan excludes depreciation or any consequential loss.
  • The plan does not cover mechanical/ electrical breakdown/ failure or breakages.
  • If the vehicle is being 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 the 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 a high standard. One can make 24x7 claims notification. Timely customer service and assistance along with the survey and further assistance within a day. It follows a simple claim procedure to ensure customer satisfaction.

  • Call at the toll-free no. of the company and lodge the claim. The following information are to be provided:
    • Policy No
    • Date and time of the 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 a suitable time for a 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 Policy

It's absolutely easy to buy Shriram Car Insurance Plans online with the following benefits:

  • Discount up to 40% when one buy online car insurance plans.
  • Nil paperwork.
  • High level of security and its very safe.
  • Payment options are various like a credit card, debit or net banking.
  • Comes with the option of buying Shriram car insurance policy after comparing plans by the best car insurance companies in India to make an informed decision

Contact Details of Shriram Car Insurance

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

Shriram Car Insurance - FAQs

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

    Ans: Shriram General Insurance Co. Ltd. offers 5 modes of premium payment namely;
    • Auto debit
    • Cash/Cheque payment
    • Credit card/Debit card
    • Online –Net Banking
  • Q. How can I check policy status for Shriram car insurance?

    Ans: 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.
  • Q. What is the policy renewal process for Shriram car insurance?

    Ans: 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.
    Alternatively, 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.

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

    Ans: You can proceed with the claim settlement by calling the customer helpdesk. You must have the following details handy.
    • 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
  • Q. What is the policy cancellation process for Shriram car insurance?

    Ans:
    1. Please visit the nearest branch with your policy documents and a duly filled surrender form to submit it at the counter. Upon a satisfactory check of documents by the office, the policy will be cancelled and the refund will be directly credited in your bank account.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Average Rating
(Based on 13 Reviews)

Shriram Car Insurance Reviews & Ratings

4.8 / 5 (Based on 13 Reviews)
(Showing Newest 13 reviews)
Ramesh
Bijnore, October 07, 2021
Easy renewal
Renewal process is very easy I had taken Shriram General Car Insurance from Policybazaar. i renewed my policy last month. I did the renewal online from home itself. I am satisfied with the overall service provided by Policybazaar.
Seema
Sonipat, October 07, 2021
Supportive staff
I have received all the facilities from policybazaar. i have bought shriram car insurance from Policybazaar and staff was so polite and informative. they provided me all the information about the plan. completely satisfied with my plan
Shaila
Raichur, September 14, 2021
Trustworthy place
Policybazaar offered me many car plans out of which i selected shriram car insurance. I liked the way the team has handled everything. The team is very dedicated towards their work. i can trust Policybazaar blindly as there is no chance of fraud or anything going wrong.
Rekha
Cuttack, September 07, 2021
Road side assistance
In my car insurance, the company is providing roadside assistance to me in case of a sudden emergency. I have bought my plan online from the Policybazaar website. I got a bit discount. Online purchasing is super convenient.
Birendra
Bhavnagar, September 06, 2021
Affordable plan
If someone is looking to buy a car insurance policy then I would recommend them to visit the website of PolicyBazaar, they offer many plans that will easily fit in your pocket. i got my car plan at fair rate from here.
Kavya
Siliguri, September 02, 2021
Budget friendly plan
I bought a car which i had to insure so i took suggestion from my friend he asked me to get the policy from the policy Bazaar. i googled the policy market and i entered my car info. it showed me a lot of plans under my budget and i chose Shriram car insurance.
Rakesh
Ambattur, September 02, 2021
Affordable plan
I had to get my car insured. After searching everywhere, I noted that insurance was available at very low prices in the policy Bazaar. they provided me with so many options that I chose Kotak Mahindra Car Insurance as it came within my budget.
Rakesh
Agra, August 27, 2021
Unique features
Shriram car insurance offers unique features at affordable rates to its customer. that is why i chose my car insurance from here. this will protect my vehicle from unplanned incidents. i bought my plan via online from the policy Bazaar website.
Jeemutbahan
Dharmavaram, August 18, 2021
claim settlement
Last month my car got damaged and i applied for the claim. i got my claim settlement very quicky. i am satisfied with the service provided by shriram car insurance. thanks to the policy bazaar who assisted me how to apply for claim settlement.
Swetha
Wadhwan, April 30, 2021
Coverage and protection
I have got the coverage and facilities when I bought the shriram general car insurance plan for my Maruti swift car. I bought the plan in the year 2019 and I am still continuing with policybazaar and Shriram because they both are best.
Mohan
Odagoan, April 26, 2021
Happy customer
I am glad to share that I am one of the happiest customer of policybazaar and have got the shriram general car plan. The plan is extensively very good and I love it.
Mahesh
Dabugam, April 23, 2021
Low premiums
I have bought the Shriram general car insurance policy from the policybazaar. It is low premium plan and provides convenient features. I bought this plan for my Audi car.
Preeti
Ahmedabad, 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.