Benefits of Shriram Third Party Car Insurance
When one drives a four-wheeler, there is always a small chance of getting into some accident or mishap but, since this is out of a man's control, why not try being prepared beforehand for such things. Here’s why third party insurance is necessary. The three monetary benefits of the Shriram Third Party Car Insurance plan are:
- Coverage for Third Party Property Damage: This will compensate the third-party for damages sustained during an accident, where the insured vehicle is involved. Up to Rs 7.5 lakh can be claimed.
- Coverage for Third-party Death: In case of third-party liabilities arising out of accidental death or injury, the insurance company compensates for the claimed amount.
Claim Process of Shriram Third Party Insurance
The followings steps are to be followed to make the claim of the Shriram Third Party Car Insurance:
- Reporting the Claim: Start with informing the Shriram General Insurance Company Ltd. about the accident. It can be done by:
- Contacting them at their help desk- 1800-103-3009/1800-300-30000
- By visiting their official site. File for a claim and submit it. The insurer will contact the insured with further instructions.
- Registration: Once the company is successfully informed about the accident, they will register the claim and revert back with a claim reference number.
- Assessing the Loss Suffered: After the claim is registered, the company will send a surveyor to the spot of the accident to assess the damage. The details about this personnel will be sent to the insured through email or text.
- Document Submission: To carry on the process, the insured will need to provide needed documents. It can be sent through the hands of the surveyor.
- Final Claim and Repair: Once the documents are submitted, the insured car will be towed to the nearest authorized garage under Shriram Car Insurancefor repair work. The company will pay for the repair, and the insured needs to pay for the towing charges if the garage is more than 50km away from the accident spot.
Ans: Shriram Third Party Car Insurance is available in both short-term and long-term period policies. The short term is for 1 year, and the long term is for 3 years and 5 years.
Ans: The company provides multiple payment modes for better flexibility.
- Cheque/cash payment
- Net banking
- Auto debit
- Debit/credit card
Ans: Visit the nearest branch with the policy documents. Fill the surrender form and submit it. Once the documents are approved, the Shriram Third Party Car Insurance will be cancelled and the refund amount will be credited to the bank account.
Ans: If the third party suffers injury or death the claim amount depends on the amount determined by the Court of law. For property damage, the limit is Rs 7.5 lakh.
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.Read More