Shriram Car Insurance - Check Plan Details & Reviews Online

Shriram General Insurance is a subsidiary of the Shriram Group with it’s headquarters in Chennai. Established in 1974 as a chit fund company, the firm later ventured into other businesses, insurance being one among them. Shriram car insurance is one of their insurance products, apart from health, life, business, and home insurance.

Car Insurance Online from Shriram Car Insurance

Third-party Cover	Up to Rs.7.5 lakhs
Cashless Network Garages	NA
Incurred Claim Ratio 2017-18	94.56%
Net Earned Premium 2017-18	Rs.1815.32 crore
Covers Provided	No claim bonus Depreciation cover Invoice cover Key protection Personal belongings Multi-car rebate
Features	Quick claim settlement 24/7 customer support Instantaneous purchase
Inclusions	Third-party liability Personal accident cover Loss due to natural calamities Loss due to man-made calamities
Exclusions	Loss due to wear & tear Damage due to general aging of the car Nuclear risks, war

 

Features and Benefits

• Instant and easy purchase- The Shriram car insurance policy can be easily purchased online without running around. With just a few simple steps, one can obtain all details about the policy online or by calling the company’s toll-free number. Payments can also be made online.
• 24/7 customer support- Customers can avail the benefit of the customer support team that is available round the clock to solve queries, answer questions and resolve any issues relating to the claim process, purchase of policy, renewal of policy or any other such insurance related issues. A team of insurance experts are just a call away to help the customer.
• Instant renewal- A policyholder can renew his/her insurance policy within a matter of minutes without any inconvenience. Renewals can be done online with the click of a button and payments will be processed instantly.
• Paperless transactions- With everything going online in today’s world, Shriram offers customers the advantage of going paperless. All transactions involving purchase of policy, renewal, etc, can be made online in a quick and hassle-free manner.
• No claim bonus- A customer is eligible for up to a 50% no claim bonus discount at the time of renewal of the insurance policy in hand. The same offer can be availed even if the policy is transferred to Shriram from another insurance company.
• Claim tracking facility- Shriram offers you the the unique advantage of receiving status updates at every stage of the claim process. From the time a claim is initiated till the time it is settled, the policyholder will receive updates about the progress made on his/registered mobile number and email-id.
• Easy claim settlement- All claims are settled in an easy, efficient, and speedy manner to enable the customer to get the best quality services. The process of initiating a claim is also very convenient
• Wide range of add-ons- Shriram provides policyholders the benefit of availing a number of add-on options as per their needs. The insurance policy can be customized as per preferences. Some of the add-on options include emergency services, depreciation cover, invoice value and key replacement, among others.

Easy Steps To Apply for Shriram Car Insurance Online

• To apply for a Shriram car insurance policy, first, log on to their website and go to the car insurance section.
• On the car insurance main page, you can read about the various features offered by the company. Then click on the ‘Buy’ option.
• Once you click on the ‘Buy Car Insurance’ option, you will be redirected to a page where you have to fill in your personal details and car details.
• You may have to provide some additional information to proceed to the next step and obtain the insurance quote.
• The insurance quote is determined by various factors such as age, type of car, etc. if you are happy with the quote, you can choose to pay online.
• In case you have any queries, you can call on the toll-free number, write an email or chat online with a customer support executive.

Why Shriram Car Insurance

Tracking of claims

Easy purchase & renewal

Hassle-free claim settlement

Dedicated customer support team

Add-on covers on Shriram Car Insurance

The following add-on covers are provided by Shriram car insurance:

• Zero depreciation- This will give the policyholder the much-needed protection against loss that occurs over a period of time due to depreciation of the car and its parts. Therefore, the policyholder will be eligible to avail the full amount during the claim process.
• Emergency services- This add-on feature provides customers the facility to obtain emergency services such as transport services and hotel accommodation services. This can be availed at any place and anytime during a theft, accident or another unfortunate event.
• Invoice cover- With this feature, the customer can get the value of the full sum that has been paid for the car including road taxes and other charges. This will cover the difference in amount between the settlement claim covered under the insurance policy and the actual value of the purchase invoice of the car.
• Personal belongings- If damage is caused to any personal items that were locked in the car at the time of a theft, accident or unfortunate event, coverage will be provided for the same under this add-on option.
• 100% reimbursement- In case of an incident where there occurs complete loss to the vehicle in question due to a theft, fire or accident, the customer is entitled to receive complete reimbursement for the loss that has been incurred. The insurance policy will provide a 100% reimbursement in such cases.
• Key replacement- In case there is any damage or loss of the key due to a theft, accident or fire, this add-on will cover the cost of replacement or repair of the key. In cases where the lock has been damaged, the cost of repair and replacement will be taken care of.

Inclusion & Exclusion under Shriram Car Insurance

Inclusions	Exclusions
Loss or damage caused due to: Fire, explosion & self-ignition Natural calamities such as floods, storms, landslides, earthquakes, rockslides, hurricanes, lightning	When the policyholder uses the vehicle contrary to mandated instructions
Loss due to theft, robbery, and other manmade calamities such as strike, riots, terrorist activities, accidental external damage	Accident due to intoxication
Damage caused due to travel by road, air, elevator, inland waterway	Damage due to own negligence
Third-party liability in cases of injury, death or damage	Mechanical or electrical breakdown
Personal accident cover	Loss due to nuclear risks
	War related risks
	Consequential loss
	Contractual liability
	Loss of accessories by theft
	If used/driven outside geographical area

Insured Declared Value - Shriram Car Insurance

• The Insured Declared Value (IDV) is nothing but the predetermined amount that will be paid to the policyholder at the time of a claim. This amount is determined by taking into account certain parameters.
• The IDV amount is not the same for everyone. It will differ and is calculated based on various factors like the make of the car, manufacturer’s listed price, etc.
• The IDV is determined based on an agreement between the insurer and the insured party if the vehicle is older than 5 years. Given below is a sample of how IDV is calculated:

Age of vehicle	% of depreciation
Not exceeding 6 months	5%
Exceeding 6 months but not exceeding 1 year	15%
Exceeding 1 year but not exceeding 2 years	20%
Exceeding 2 years but not exceeding 3 years	30%
Exceeding 3 years but not exceeding 4 years	40%
Exceeding 4 years but not exceeding 5 years	50%

Shriram Car Insurance Cashless Garages

Direct cashless services can be utilized by customers at their respective cities. The wide network of these service garages makes convenient for policyholders to avail services across the country round the clock. There is no need to worry about payments because the insurance company will directly make payments to the empanelled garage.

Claim Process for Shriram Car Insurance

Be it cashless claims or reimbursement claims, a customer can initiate a claim 24/7. Claims can be made online through their website, by calling their toll-free number or by going to the nearest Shriram General Insurance branch.

Cashless Claim Process for Shriram Car Insurance

Let’s explore the cashless claim process:

• Inform the insurance provider
• Provide policy details and get prior approval
• Get the car towed to the nearest network garage in case of an accident. Or drive to the concerned service garage.
• The payment will be processed by the insurance company

Reimbursement Claim Process for Shriram Car Insurance

Let’s explore the reimbursement claim process:

• To claim a reimbursement one must keep all bills and invoices ready
• Inform the insurance provider
• Fill in the duly signed claim form
• Submit the form along with required documents, bills and invoices
• Claims will be processed within 7 working days

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