Shriram General Motor Insurance

Shriram General Insurance is a prominent name in the Indian insurance industry today. The assortment of insurance solutions offered by the company and its robust customer centric strategies have buoyed it to the top of the insurance domain in the country.

The company offers insurance solutions in the fields of motor, travel, and home for individual customers. Other products offered by Shriram General are in the domains of fire insurance, marine insurance, shopkeeper’s insurance, engineering insurance, etc.

Why Should You Buy Motor Insurance From Shriram General?

Shriram General is a reliable insurance solutions provider offering some of the most comprehensive insurance products in the industry. The benefits of choosing Shriram General motor insurance are:

  • The insurer allows you to buy and renew motor insurance online in a few simple steps.
  • You can also renew an insurance plan offered by another provider.
  • You will receive 24x7 customer service facilities from the insurance company.
  • The insurance provider has tie-ups with several network garages across the country from where you can avail cashless claim settlement.
  • The insurer’s website enables you to track your claim status online.
  • The claim settlement process of the insurance company is quick, as it has one of the lowest turnaround times in the industry.

Types Of Motor Insurance From Shriram General

Shriram General offers the following types of motor insurance policies for its customers:

  • Private car insurance - The car insurance policy offered by Shriram General has wide coverage. The insurance protects the car from theft, natural calamities, man-made disasters, in-transit damages, etc. It also offers protection from legal liability to a third party in an accident. Additionally, the named owner-driver of the car is protected from disabilities/death in an accident.
  • Two-wheeler insurance - The Shriram General bike insurance policy offers insurance protection to all two-wheelers. The coverage includes own-damage cover and third-party liability insurance. In case you require additional protection, you can opt for various add-ons. One of the most popular add-on covers offered by Shriram General is the nil depreciation cover that nullifies the effect of depreciation on two-wheeler parts.
  • Commercial vehicle insurance - This insurance plan is specifically designed for commercial vehicles, such as buses, trucks, taxis, etc. The coverage offered by the insurance plan includes third-party liability and own-damage cover. Hence, your valued possession is protected from theft, fire, explosion, riots, earthquakes, floods, accidents, malicious activities, and the like. Customers can also avail direct claim settlement facility at specialised network garages across India. Shriram General offers various add-on covers to provide extensive protection to the vehicle as well.

Shriram General Third-Party Risk Policy - Inclusions

A customer can choose to buy a minimal level of motor insurance for his/her car, as mandated by the Motor Vehicles Act, 1988. This insurance plan is referred to as a liability only plan or third-party risk policy. This insurance scheme protects the policyholder from liability claims raised by a third party after an accident. The coverage includes third-party injuries, disabilities, or death. It also offers coverage for third-party property damage.

The insured vehicle itself is not offered protection under the third-party liability plan. In order to include the vehicle and its driver under the insurance safety net, it is advisable to buy a comprehensive insurance package.

Shriram General Comprehensive Motor Insurance Policy – Inclusions

The comprehensive motor insurance policy from Shriram General is offered to cars, two-wheelers, and commercial vehicles. This package policy includes the following events:

  • Losses or damages to the insured vehicle (Own-damage cover) - This includes losses following a natural calamity, such as earthquake, flood, hurricane, typhoon, etc. It also safeguards the vehicle from losses arising from man-made disasters such as thefts, riots, malicious activities, explosion, fire, strikes, in-transit damages, etc.
  • Liabilities to a third party after an accident (Third-party liability cover) - This includes liability claims raised by a third party for injuries, death, or property damage. The upper limit on third-party property damage that will be borne by the insurer is Rs.7.5 lakh (for cars) and Rs.1 lakh (for two-wheelers). However, the final claim amount to be paid will be decided by the Motor Accident Claims Tribunal (MACT).

Shriram General Motor Insurance - Exclusions

Shriram General motor insurance plan does not offer insurance protection for the following incidents:

  • Accidental losses
  • Driving after the consumption of liquor/drugs
  • Willful negligence leading to accidental losses
  • Losses incurred while the vehicle was being driven by someone who is not named in the policy
  • Driving without a valid license
  • Using the vehicle beyond its limits
  • Depreciation, wear and tear, etc.
  • Consequential losses to the vehicle
  • Electrical or mechanical breakdown
  • Losses from nuclear radiation/weapons
  • Losses from war and related events

Shriram Motor Insurance FAQs:

  1. What are the additional features that I can opt for under my two-wheeler insurance policy?

    Shriram General offers the following additional covers for two-wheelers:

    • Coverage for electrical and electronic accessories
    • Personal accident cover for the passengers
    • Nil depreciation cover
  2. What modes of payment are approved by Shriram General for policy purchase?

    You can pay premium through debit cards, credit cards, cheque, or net banking, as per your convenience.

  3. What are the add-on covers offered with the comprehensive car insurance policy?

    You can choose to buy any of the following add-on covers to :

    • Nil depreciation cover
    • Hotel expenses reimbursement and emergency transport cover
    • Return to invoice (RTI) cover - This is offered to new vehicles only
    • Multi-car rebate
    • Personal belongings coverage
    • Key replacement cover
  4. What are the advantages of buying insurance online from Shriram General?

    A customer can benefit in the following ways when he/she purchases insurance online:

    • The insurance company offers a discount of up to 40% on online motor insurance policies.
    • There is minimal paperwork involved in the policy purchase process.
    • The customer can make payments instantly through credit/debit cards or net banking.
    • The process of online insurance purchase is highly secure, as the insurance company employs global security standards for the same.
  5. What is the validity of my Shriram General motor insurance policy?

    The motor insurance policy from Shriram General will be valid for a period of 12 months from the date of policy commencement. This will be indicated in your policy documentation as well.

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