Shriram Home Insurance

4.5 / 5 based on 1 User Reviews

Shriram Home Insurance Overview

Shriram Home Insurance by 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, Two wheeler insurance plans, Health Insurance Plans, Marine Insurance Plans, liability Insurance Plan, Shopkeeper umbrella package plan, burglary insurance plans Personal Accident Plans, Home Insurance Plans for Individuals and other types of insurance plans too which are tailor made and customer friendly and completely transparent.

A home is place of relax, shelter and the word itself is an indication of harmony and conclusiveness. And a house also demands a huge amount of expenses, sentiment and time – mostly a onetime investment in many lives. And hence securing this mark of sovereignty and attainment against natural calamities and man made events are absolutely necessary.

Let’s have an overview of Shriram General Home Insurance Plan which is called as Householder Umbrella Home Insurance Plan.

Key Features and benefits of the Plan.

  • Various options to choose which covers almost all the corners of the home.
  • Flexibility to choose the plans according to the needs / requirements.
  • Hassle free and absolutely transparent plans
  • This plan provides full guard to the property and its contents as well.
  • All plans come with low cost premium under the plans with rebates.

The Householder Umbrella Home Insurance Plan has the following five coverages with four categories of sum insured:-

Section I: (i) Fire with Allied Perils, Building / flat Plans.

                    (ii) Fire with Allied perils, contents Plans.

Section II: Burglary Contents Plan.

Section III: (i) TV/ Video Equipments Plan.

                      (ii)Electronic Equipments/MBD of other domestic appliances Plan.

Section IV: Loss of cash due to Assault to the Insured person  Plan.

Section V: Personal Accidents Plan.

                     Premium Full Coverage With Section I(i)

                     Premium without Section I (i)

 

There are four Sum Insured Plans which are as follows:

Sections

Descriptions

Plan A

Plan B

Plan C

Plan D

I

(i) Fire and Allied Perils, Building / flat.

400000

600000

1000000

1500000

 

(ii) Fire and Allied perils, contents

 

50000

100000

250000

500000

II

Burglary Contents

50000

100000

250000

500000

III

(i) TV/ Video Equipments.

15000

20000

35000

50000

 

(ii)Electronic Equipments/MBD of other domestic appliances

10000

25000

35000

50000

IV

Loss of cash due to Assault to the Insured person AOA/ AOY = 5000/5000

5000

5000

5000

5000

V

Personal Accidents

50000

100000

250000

500000

 

Premium Full Coverage With Section I(i)

900

1700

3100

5000

 

 Premium without Section I (i)

 

700

1400

2600

4000

 

 

 

 

 

 

 

Now let’s see the coverages one by one:

Section I: (i) Fire and Allied Perils, Building / flat and Contents Plan :

This plan covers the household goods like furniture, utensils, clothes, and such losses which are caused due to the following reasons:

  • Fire : Under this plan, loss against fire is covered excluding damage or destruction caused to the property by
    • Normal heat and its own fermentation or unprompted burning.
    • Undertake any heating or drying process.
    • Explosion and Implosion: Explosion and implosion are covered other than loss or damage or destruction caused to the property by boilers and by centrifugal force.
    • Lightning: Another natural calamity of lightening is also covered under this plan.
    • Aircraft Damage:  Destruction, damage or loss caused by airplane, other aerial and  space devices  and related  articles which are being dropped from there other than  those caused by force effect.
    • Riots and Strike: Physical damage/ loss / destruction caused by other and vicious ways which are caused straight to the property other than:
      • Full or half-done cessation of work or disruption of any procedure or exclusion.
      • Enduring or short-term withdrawal.
      • Perpetual or interim withdrawal of any building from unlawful possession of any individual.
      • Breaking and entering including theft, larceny.
      • Subsidence and Landslide which includes Rockslide as well: Destruction or loss which is caused by subsidence of part of the location of the property other that:
        • Standard breakage and completion or gradual shedding down of fresh construction.
        • Gradual progress of the ground which has been made up.
        • Erosion of coasts as well as river.
        • Craftsman’s damaged designs.
        • Devastation, building, maintenance and any kind of modification of any property.
  • Storm, typhoon, hurricane, , cyclone flood , tempest , inundation, tornado are also covered. However, those which are a direct result from earthquake are not covered. Volcanic outbreak or other tremors of natures are also roofed under this plan.
  • Impact Damage: Destruction or physical damage or loss which is caused to the insured property due to impact by any road, rail, animal or vehicle by straight and direct contact. And the same  do not  owned by
    • Insure or the inhabitant of the property  or
    • Insured’s recruits while they are in work.
    • Terrorism: It covers the loss or damage arises due to terrorism as well.
    • Spilling over and therefore bursting of water Tanks, Apparatus and Pipes.
    • Forest Fire.
    • Projectile Operations.
    • Seepage from Automatic Sprinkler fitting.
    • Earthquake (Fire & Shock):  Damage or loss to the insured property caused by earthquake or fire which includes flood or overflowing of lakes, sea reservoirs and rivers and/or rockslide/landslide.

Section II: Burglary Contents Plan.

  1. If there is any theft, burglary, larceny or housebreaking that occurs then the insurance company will pay an amount as specified above under diverse categories of sum insured under the plan for the loss or damage caused to the items in the house.
  2. The plan covers the loss or damage to jewellery like gold, silver, precious metals and stones and other valuable items against damage or loss caused due to theft, burglary, larceny or housebreaking. Here the Sum Insured will be equal to what has been chosen for the Fire and Allied Peril plan.

Section V:  Personal Accident

Under this plan, the following coverages will apply to the insured person:

  • Death
  • Loss of two limbs/ two eye sights or one limb and one eye.
  • Loss of one limb or one eye sight.
  • Permanent Total Disablement from Injuries other than the ones as mentioned above.

Content Insurance under the plan:

The contents are insured as per the market value. The plan covers the losses to the contents of the insured home due to natural and manmade calamities.

The following calamities are covered:

  • Fire and lightening
  • Implosion & Explosion
  • Riot, strikes and Malicious Damage.
  • Impact Damage.
  • Damage due to aircraft.
  • Storm, Typhoon, Tornado, Cyclone Hurricane, Flood, Inundation and Tempest.
  • Subsidence and Landslide includes Rockslide.
  • Bursting and or overflowing of water reservoir, tools.
  • Projectile Operations.
  • Seepage from Automatic Sprinkler fitting.

Exclusions of the plan:

No indemnity is allowed in the following situations:

  • The plan does not cover the following:
    • The first 5% of each claim subject to a maximum of Rs 10000/- with respect of loss arising out of “ Act of God Perils” such as lightening, STFI, subsidence, rockslide, landslide.
    • The first Rs 10000/- for each and every loss which arises due to other perils with respect of which the insured individual is indemnified under the plan.
    • Loss and /or damage which arises due to war whether declared or not, invasion, hostilities, act of foreign enemy , civil war, mutiny or civil commotion.
    •  Loss/ damage/ destruction caused directly or indirectly to the property insured by
      • Ionizing, radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste.
      • Radioactive toxic explosives.
        • The plan also does not cover the loss/ damage/ destruction caused to the property of the insured due to pollution or by contamination.
        • The plan does not cover the loss/ damage/ destruction to stock in cold storage caused due to change in temperature.
        • The plan does not cover loss/ damage/ destruction to items like  curios and work of art for an amount above Rs 10000/-, guns , stamp collection , coins, pictures, plans , securities, cheque book, books of accounts  until and unless the same has been specifically mentioned in the plan.
        • The plan excludes the loss  and  damage caused to  the electrical machine or similar apparatus, fixture  and related  fitting which arises  out of discharge, too much pressure , more heat, short circuiting.
        • Other than expenses of 3% and 1% of the claim amount for architects, surveyors, and consulting engineer’s fees and debris removal, rest are disallowed.
        • The plan excludes the loss of pay or any other significant or not direct loss and harm.
        • The plan excludes the Loss and damage which occurs because of  earthquake, volcanic upsurge or other paroxysm of natural world.
        • The plan excludes the loss by theft which occur during or after the incident of any of the mentioned insured perils other than riot, strike and malicious damage.
        • The plan excludes the loss and damage to the property insured if detached to  building  other than in which it is  other than  for apparatus provisionally moved for clear out , refurbish, restoration or parallel other reason for less than 60 days.

Eligibility

Owners of property (dwelling and contents) with insurable interest are eligible to insure the property. The insured can declare the belongings as “goods held in trust” and can take insurance for them.

Various modes of payment under the plan.

There are five modes of payment which are as follows:

 

    • Credit Card.
    • Net Banking.
    • Bill Pay.
    • Debit Card.
    • Cash Card.

 

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 and lodge the claim. The following information’s are to be provided:
    • Policy No
    • Nature of loss.
    • Location of loss.
    • Amount of loss
    • Date and time of the incident or accident.
    • Estimated loss/ description.
    • Survey location where vehicle can be surveyed by our loss assessor.
    • 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 in Claim section.

Documents needed to register a claim

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

  • Claim form.
  • Police First Information Report /Charge Sheet ( notarized copy)
  • List of items lost in the incident with their purchase bill or receipt.
  • Occupancy Certificate( notarized copy)
  • Fire Brigade Report( notarized copy)
  •  Invoices if the same is available for contents.
  • Original Repair Bills.

Contact

  • One can also email at customer.care@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 Home 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 home 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 home 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 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 home 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 home 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 Home Insurance Reviews

TOTAL REVIEWS (1)
Nirmal
Karnal
May 16, 2016

Great Policy

My shriram home insurance plan. The policy coverage is high ~89% and the claims are even better. Service is fast which is facilitate by the executives and staff member. Daily updates are send to me regularly. Good future investment which secure lots of belongings too. I like my policy.