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Shriram Car Insurance
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Intro to Shriram General Insurance Company
Shriram General Insurance Company Limited is a part of Shriram Group which was established in 1974. Since its inception, the company has tried to create and design products for everyone. Over the years the company has established itself as a trusted general insurance partner. The company has a wide network of offices, customers, and tied agents. The Shriram General Insurance Company Limited offers a wide range of general insurance products like Car Insurance, Two-Wheeler Insurance, Home Insurance, Travel Insurance, Personal Accident, etc. The car insurance policy offered by Shriram General Insurance is a complete insurance package provided at an affordable premium. Let us understand in detail about the car insurance policy offered by Shriram General Insurance Company Limited.
Types of Shriram General Insurance Car Insurance
Shriram General Insurance Company Limited offers the following types of car insurance policies:
- Third-Party Car Insurance Policy:
A third-party car insurance policy is designed to offer insurance coverage and ensure financial security against the damages or losses caused to third-party property or vehicle. Additionally, in event of any damage to third party life i.e., death or injury all the legal liability and expenses arising out of it are taken care under a third-party car insurance policy.
- Stand-Alone Car Insurance Policy:
A stand-alone car insurance policy takes care of the expenses arising in the event of any damages or losses caused to own-vehicle.
- Comprehensive Car Insurance Policy:
A comprehensive car insurance policy incorporates the benefits of both third-party car insurance and stand-alone car insurance. Under this type of car insurance policy, the insurance provides financial security against the damages or losses against own damage as well as damages caused to third party vehicles and life.
Benefits of the Shriram General Car Insurance
Protecting your dream car is always preferred as any unforeseen mishap can damage your vehicle and put a dent on your pocket. Securing your dream car with Shriram General Car Insurance Policy is beneficial as the insurance provider offers a range of benefits and features as under:
- Network Garage:
The insurance provider has a huge network of the cashless garage where the customer can take the vehicle for repairs without worrying about the expenses or finances.
The insurance provider offers a wide range of discounts on premium. The discounts are available in the following situations:
- If the car-owner voluntarily opts for the higher deduction that is over and above the compulsory deductible. In such a scenario, a discount up to 35% on own damage premium amount, subject to maximum up to Rs 2500 is offered
- If the car-owner is a member of the Automobile Association of India then a discount on own damage premium is offered.
- If the insured vehicle is fitted with an anti-theft device approved by ARAI (Automobile Research Association of India).
- Additional Features:
The car insurance policy extends coverage for certain additional features by paying a nominal additional premium. The additional features offered are:
- Electrical and Electronic Accessories like music player, fog lights, seat covers, etc.
- Bi-Fuel and CNG Kit either built-in or fitted separately in the vehicle
- Personal Accident Cover:
Personal Accident Cover can opt under the insurance cover for owner/driver additionally. The maximum limit of this cover is up to Rs 15 Lakhs.
Reward in form of No Claim Bonus is offered to those car-owners for every claim-free year. The discount amount increases for every consecutive claim-free year.
- Add-on Covers:
The insurance company offers a wide range of add-on covers which the customers can avail to widen the scope of insurance coverage. The add-ons offered by Shriram General Insurance Company Limited are as under:
- Zero Depreciation Cover:
This cover protects the car-owner from the devaluation of the insured vehicle caused due to numerous factors like ageing of the vehicle, wear and tear, etc. In the event of an accident when it is time to replace the damaged parts the zero-depreciation cover will provide the entire cost of the replaced parts without any depreciation charge.
- Daily Reimbursement:
This cover is available if the car-owner purchases additional car insurance from Shriram General Insurance Company Limited.
- Return to Invoice:
In the event of a total loss, this add-on cover provides for the total cost of the vehicle including registration fee, insurance amount, and road tax.
- Personal Belongings:
In event of damage or theft of personal belongings like laptop, car accessories, mobile etc. from the insured vehicle this add-on will cover the loss.
- Emergency Transport and Hotel Expense:
This is a unique add-on cover that covers the cost of overnight hotel stay as well as taxi charges
- Key Replacement: In the event of lost, damaged or stolen key the expenses of the key replacement shall be covered.
- Multicar Rebate: As the name suggests this cover will offer rebates on premium where more than one car belonging to the same car-owner is covered under the Shriram General Car Insurance Policy.
- Zero Depreciation Cover:
What is Covered in Shriram Car Insurance Plans?
Shriram General Car Insurance Policy is designed to cover the damages or losses caused to the vehicle under the following situations:
- Damages caused to the vehicle due to external means like an accident, collision, etc.
- Damages caused by natural calamities like fire, explosion, self-ignition, earthquake, flood, typhoon, cyclone, etc.
- Damages caused by man-made calamities like theft, burglary, strike, malicious act, riot, etc.
- Any damages caused to third-party vehicles or life. Any legal liability or expenses arising out of third-party damage shall be covered by Shriram General Car Insurance Policy
- Any damages to the third-party property shall be taken care of as the insurance company offers compensation up to Rs 7.50 Lakhs.
What is not Covered in Shriram Car Insurance Plans?
Any damages or losses caused to the vehicle that is not covered under an insurance policy are called ‘Exclusions’. Shriram General Car Insurance Policy does not cover for the damages or losses caused under the following circumstances:
- Damages caused due to an accident while driving under the influence of alcohol or drugs
- Damages caused due to willful negligence
- Damages caused when the vehicle is used outside the scope of limitations of use. For example, a private car is used as a taxi
- Damages caused while the car is being driven by a person not holding a valid license
- Damages caused due to consequential loss i.e., damages caused due to depreciation, normal wear and tear of the vehicle, mechanical or electrical breakdown, etc.
- Loss due to damages caused by the radioactive or nuclear weapon
- Damages caused due to an act of terrorism or war
- Does not cover the policy deductibles i.e., the amount opted by the car-owner to bear for every claim voluntarily.
How to Apply For The Shriram General Car Insurance Plan?
Shriram General Insurance Company Limited is a company for all. The company is focused to provide services to people from every segment of the pyramid. Applying for Shriram General Car Insurance Plan can be done in two ways as under:
- Offline Channel:
Offline channel refers to buying the car insurance plan directly from the branch/office of the insurance company or from the huge network of tied agents, partner agents, brokers, dealers, etc. Applying for the Shriram General Car Insurance Plan from an offline channel is simple as the network of agents and brokers is huge. Customers simply have to submit the required relevant documents along with duly signed proposal forms and the rest of the process is taken care of by the customer support executives, agents, and dealers.
- Online Channel:
Shriram General Insurance Company has a strong digital presence. Customers can now purchase the policy easily from the official website of the company with just a few clicks. Simply visit https://www.shriramgi.com/car_new.html and enter the required information. When all the information is entered the system will generate premium quotes. If you are comfortable with the premium quote then you can go ahead to make payment using your debit card, credit card or net-banking facility and purchase the Shriram General Car Insurance Plan.
The Shriram General Car Insurance Claim Process
The cost of a car, its spare parts and servicing are on an all-time rise. Even a minor dent or repair can cost huge. The cost of repairs and replacement of car parts is ever-increasing therefore availing a car insurance policy will be helpful as it will take care of the expenses. However not many are aware of the car insurance claim process. Shriram General Insurance Company Limited has the simplest and hassle-free claim process. Follow the below-given steps and customers can register their car insurance claim in no time.
- Registration of Car Insurance Claim:
One of the biggest advantages of buying a Shriram General Car Insurance Policy is that the company offers unlimited claims i.e., a customer can make numerous claim registrations during the policy period. In the event of an accident or mishap, the first important step is to register the claim. Customers can register the car insurance claim by either visiting the official website of Shriram General Insurance Company Limited or call the toll-free number on 1800 300 30000.
- Give Details:
Once you call the customer support team or visit the website you are required to furnish a few important details like:
- Insured Car’s Engine and Chassis Number
- Details of Accident i.e., Date and Time
- Description of the accident and the details of the accident spot
- Car inspection address
- KMS Reading of the vehicle
- In case of theft or third-party damage details of a police complaint or copy of FIR
An authorised surveyor of the insurance company will come to inspect the damage caused to the insured vehicle. In a cashless claim settlement process, the surveyor will visit either the accident spot or the network garage for inspecting the vehicle, while in case of a reimbursement claim settlement the damaged vehicle has to be inspected first by the surveyor only then it can be moved to the garage for repair works.
- Repair Work:
Once the inspection is done by the surveyor, he/she will submit the repair estimates. Once the estimates are approved the repair works on the damaged vehicle shall start
- Submission of Documents:
Once all the repair works start, the car-owner has to submit all the required documents either directly to the company or the surveyor or the garage dealer who is helping you with the motor insurance claim. Verification of the submitted documents against the originals shall be done and if everything is in place the claim settlement process will start. Shriram General Insurance Company Limited carry out the claim settlement process in two ways namely:
- Cashless Claim Settlement:
Under this, the claim amount is directly settled by the insurance company i.e., the payment is directly made to the network garage.
- Reimbursement Claim Settlement:
Under this process, the car owner has to bear the expenses of the repair works and then submit all the documents to the insurance company. Once all documents are scrutinised payment shall be made in the bank account of the car-owner.
- Cashless Claim Settlement:
How to Renew Your Lapsed/Expired the Shriram General Car Insurance Policy Online?
Renewing an active car insurance policy is very simple. Simply visit https://www.shriramgi.com/insurance-online.html?name=quick , enter the policy number and proceed to make payment. Within minutes and few clicks, you can easily renew your active i.e., in-force Shriram general car insurance policy online. However, if you are unable to renew your active or in-force car insurance policy within the stipulated time the car insurance policy lapses i.e., the insurance cover shall no longer be available. Lapsed car insurance policy will not cover for any damages, losses or liabilities and the car-owner will be left with no other option but to bear all the expenses by himself. Additionally, driving a vehicle without a valid car insurance cover is illegal and is bound to attract legal penalties. Therefore, it is important to renew your lapsed policy. For renewing your lapsed or expired Shriram General Car Insurance Policy you need to follow the below-given steps:
- Apply for car fitness certificate from a Shriram General Insurance Company Limited authorised surveyor
- Once the surveyor inspects the fitness of the vehicle, he/she will issue fitness certificate which is important for renewing a lapsed car insurance policy
- Submit the following documents while renewing lapsed or expired car insurance policy:
- Fitness certificate received from the authorised surveyor
- Copy for Registration Certificate of the vehicle to be insured
- Copy of Valid License of the car-owner
- Copy of lapsed car insurance policy
The Shriram General Car Insurance Review
Shriram General Insurance Company and their products are well preferred by the customers. The company’s philosophy is to address customer needs and design products that satisfy their needs. The company is known for its continuous growth, stability and sustainability. Shriram General Insurance Company is well known for concentrating focus towards creating creative products, top-notch customer service and hassle-free claim settlement process. Shriram General Insurance is a holistic company that is known to create products not only for the rich and privileged but also to create products for people at the bottom of the matrix. Thus, creating value to every customer along its way towards progress. Therefore customers are extremely satisfied with the company and its car insurance product.
The Shriram General Insurance Company Limited Car Insurance Customer Care Number
Customers who wish to seek help from the Shriram General Insurance Company Limited Customer care department can contact the company in the following manner:
- Toll Free Number: 1800 300 30000/ 1800 103 3009
- Fax Number: 0141 2770692 / 0141 2770693
- Registered Office Address: Shriram General Insurance Co. Ltd. (In partnership with Sanlam, South Africa) E-8, EPIP, RIICO Industrial Area, Sitapura, Jaipur - 302022 (Rajasthan)
- Additionally, customers can use the ‘Branch Locator’ facility to get details of the nearest branch office located near you.
Add ons for your Car Insurance
Shriram Car Insurance FAQs
1. How many add-on covers does the Shriram General Car Insurance Company offer?
Shriram General Car Insurance policy offers the following add-on covers:
- Zero Depreciation Cover
- Daily Reimbursement
- Return to Invoice
- Personal Belongings:
- Emergency Transport and Hotel Expense
- Key Replacement
- Multicar Rebate
2. What is the incurred claim ratio of the Shriram General Insurance Company?
The incurred claim ratio of the Shriram General Insurance Company is 69%
3. How can I check my Shriram General Insurance Car Claim status online?
Customers can check their car claim status online by visiting the official website at https://www.shriramgi.com/insurance-claim-status-online.html . Enter the required details and all the details of the car claim shall be displayed on your screen.
4. How can I download my Shriram General Insurance Car Policy Document Online?
Customers can download their Shriram General Insurance Car Policy from the official website. Just click on https://www.shriramgi.com/Motor_Policy_Pdf.html from here you can easily download the PDF version of the car insurance policy.
5. How long does the Shriram General Insurance Company Limited take to process and settle car insurance claims?
The car insurance claim will be settled within 7 days from the date of submission of all the required documents.
6. Does the Shriram General Insurance Company offer pay-as-you-drive car insurance?
No, Shriram General Insurance Company does not offer a pay-as-you-drive car insurance feature.
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