Shriram General Insurance is part of Shriram Group – an Indian conglomerate that commenced operations in 1974. The group has a number of wings including Industrial Manufacturing, Food and Retail, Infrastructure and Energy, Information Technology, etc. The group not only offers financial services but also provides services to meet the non-financial requirements of ordinary people.
Features and Benefits of Shriram two-wheeler insurance
The insurance wing of the Shriram Group has grown tremendously over the past few years, so much so that it was awarded the “Excellence in Growth Award” for two years in succession (2011 and 2012). The company is recognised as one of the major players in the insurance market, and boasts an increasing number of branches across the country.
||Shriram Two Wheeler Insurance
Transit by inland waterways, rail, road, lift or air
- Accidental loss or damage of two wheeler
- Lightening, explosion, fire or self-ignition
- Accident by external means
- Personal accident cover
- Natural calamities such as storm, rockslide, flood, landslide, earthquake, inundation, etc.
- Man-made calamities such as terrorism, strikes, riots
- Burglary, theft or house-breaking
- Malicious acts
- Third party liability
If the vehicle is used to reward or hire, racing or speed testing, reliability trials, etc.
- Damage or loss caused to the two wheeler because of wilful negligence
- Damage or loss caused by an individual riding under the influence of drugs or alcohol
- Damage or loss to the 2 wheeler caused by an unauthorised rider other than the one mentioned in the driver’s clause
- Damage caused by an individual riding without a valid driving license
- Damage caused outside the geographical area of coverage as specified in the policy document
- Damage or loss as a result of any consequential loss
- Damage or loss caused by nuclear risks, mutiny, invasion, war, civil war, hostilities, rebellion, etc.
- Damage or loss caused to accessories of the 2 wheeler by theft, burglary or housebreaking
- Damage to tubes and tyres
- Electrical or mechanical breakdown
- Depreciation or any other consequential losses
||Personal Accident Cover
|No Claim Benefit
||In case no claims have been made by a policyholder over the course of the policy term, a discount or bonus called No Claim can be availed on the premium payment applicable to the new policy.
|Zero Depreciation Cover
||In case a customer wishes to surrender the Shriram Two Wheeler Insurance plan, he/she will have to visit the nearest branch of the company along with the policy documents before filling in and submitting the surrender form at the counter. The documents will then be checked by the officials and if they are satisfactory, the plan will be cancelled and the customer will receive a refund in his/her bank account.
|If Plan Expired
||If the plan expires, you can renew it policy on the official website of Shriram General Insurance Company Limited by entering your policy number, registration number, engine number, or the chassis number. Then, hit the ‘Renew’ button.
||Shriram General Insurance Company Limited has a wide network of garages across the country so that customers have quick access to solutions in times of emergencies. The policy document will have a comprehensive list of all the network garages partnering with the company.
Reasons to Choose Shriram Two Wheeler Insurance
Following are the main reasons to purchase Shriram Two-Wheeler Insurance:
- The Shriram Two-Wheeler Insurance policy offers comprehensive protection and makes sure that customers are financially covered in case of loss/damage to their two wheelers.
- The Shriram Two-Wheeler Insurance policy offers protection against any third party damages.
- Customers who purchase the Shriram Two-Wheeler Insurance policy can save a good amount of money by making the most of the No Claim Bonus under this plan.
- Customers can pick the best covers at affordable premiums.
- Customers who purchase the Shriram Two-Wheeler Insurance policy can avail personal accident cover.
- Customers who purchase the plan can register their two wheeler claim online and track its status from the comfort of their home.
- Customers who purchase the Shriram Two-Wheeler Insurance policy have the convenience of renewing their policy from the comfort of their homes once the policy has expired.
- The company has a round-the-clock customer service team to resolve any problems or concerns their customers may face at any time.
- Shriram General Insurance Company Limited follows an easy and hassle-free procedure to settle claims.
Available Plans in Shriram General Insurance Company Limited
Shriram General Insurance Company Limited offers just one bike insurance policy at the moment.
Coverage Offered in Shriram Two Wheeler Insurance
Following are the circumstances under which cover will be provided by the Shriram Two Wheeler Insurance Policy:
- In case a two wheeler is damaged due to burglary, theft, or house-breaking; explosion, lightning, fire or self-ignition, landslide, rockslide, storm, earthquake, flood, malicious acts, riots, terrorism, inundation, strikes, or transit by road, air, inland waterways, rail, or lift.
- In case of the loss of a two wheeler during the policy term, Shriram General Insurance Company will pay the policyholder the Insured Declared Value which will be equal to the sum assured for the two wheeler.
- The Shriram Two Wheeler Insurance policy covers damages to third party properties if the damage is caused by the insured two wheeler.
- Injuries or accidental death of third party.
- Additional cover can be purchased by paying an additional premium.
- Loss or damage to electrical or non-electrical accessories.
- In case the two wheeler has caused third party property damage, the company will provide compensation to the extent of Rs.1 lakh.
Note: The cover depends on the policy chosen. Certain benefits are applicable only if the individual has opted for add-on covers.
Exclusions in Shriram Two Wheeler Insurance Policy
Following are the situations under which no expenses will be reimbursed by the Shriram Two Wheeler Insurance policy:
- In case of damage arising due to the two wheeler being ridden without a valid driver’s license.
- In case of damage or loss arising due to the 2 wheeler being ridden by another individual apart from a driver as specified in the driver’s clause of the policy.
- In case of damage or loss arising due to the rider being under the influence of alcohol or drugs.
- In case of any damage or loss to the 2 wheeler outside the geographic area covered by the plan.
- In case damage or loss is caused as a result of wilful negligence.
- In case of damage or loss arising due to the rider being under the influence of drugs or alcohol.
- In case of any nuclear perils and war or liabilities or expenses arising out of either consequential event or direct impact of any invasion, hostilities, war, acts of foreign enemies, mutiny, usurped or military power, civil war, or rebellion.
- In case of liabilities arising out of or as a result of consequential events resulting from contamination, ionising or radiation by radioactivity from any nuclear waste or nuclear fuel.
- Electrical or mechanical breakdown, wear and tear, and depreciation.
Eligibility to Buy Shriram Two Wheeler Insurance
It is mandatory as per government regulations for every two wheeler within India to be insured. The Shriram General Insurance Company takes into consideration a few aspects as follow before issuing a two wheeler insurance policy.
Driver license – The applicant for a two wheeler insurance policy will have to possess a valid driver’s license as it will be requested at the time of purchase.
Registration – The two wheeler must be registered with a Regional Transport Office in India.
Modifications – Applications to insure modified two wheelers are often rejected, so make sure that your two wheeler is not modified.
Fitness certificate – The two wheeler must have a fitness certificate (if applicable).
Payment – Depending upon the two wheeler that is being insured, a fee will have to be paid to purchase a two wheeler insurance policy.
Steps to Buy Shriram Two Wheeler Insurance:
Individuals who wish to purchase a two wheeler insurance policy from Shriram General Insurance Company can do so by visiting a branch of the company. Alternatively, the online route could also be used to purchase a bike insurance plan from the comfort of your home. Here is a step by step procedure to purchase a two wheeler insurance policy from Shriram:
- Visit the official website of Shriram General Insurance Company Limited.
- Click on the ‘Two Wheeler’ option on the menu at the top.
- You will be redirected to a new page where you will have to choose ‘Buy New Two Wheeler Insurance’.
- You will then be redirected to a new page wherein you will have to enter several details such as the proposer’s full name, the city in which he/she resides, his/her mobile number, and information regarding the two wheeler, like the bike make, the fuel type, the bike model, the cubic capacity, the date of registration, the year of manufacture, the insured declared value, the city in which the two wheeler was registered, etc.
- Once you have filled in the aforementioned details, you will have to select whether or not you would like to cover the accessories installed in the two wheeler.
- After all the information has been entered, you will be shown a list of options that best suit your insurance needs.
- Select the policy you like and the concerned team will get in touch with you to proceed with the process.
How to make claims in Shriram Two Wheeler Insurance?
In case you meet with an accident, here are the steps to follow for making a claim with Shriram General Insurance Company Limited:
- Intimate the company about the accident by either visiting the nearest branch or calling the toll free number to lodge the claim. You will have to provide the following details along with claim request:
- a brief description of the accident,
- date and time at which the accident took place,
- the estimated loss,
- the policy number,
- the location at which a surveyor can be sent to assess the damage,
- the contact details of the insured,
- the name of the driver along with his/her contact number and driving license details, etc.
- Download the claim intimation form from the company’s website and send it to email@example.com after which you will be contacted by a claim representative.
- A claim reference number will be provided by the claim representative for future reference, and once the claim is submitted and approved, you will receive a text message on your registered mobile number intimating the details of the surveyor.
- Once the surveyor has given his approval post inspection, your claim will be registered with the company.
- You will have to send a number of documents along with the claim form to the company, including a copy of the driver’s license, a police FIR, a certificate of registration, copy of the insurance policy and receipt of premium payment, and fitness certificate in case of commercial vehicles.
Renew Shriram Two Wheeler Insurance
Customers whose Shriram Two Wheeler Insurance policy is set to expire can renew the policy online with relative ease. Here are the steps to follow:
- Visit the official website of the Shriram General Insurance Company.
- Click on ‘Two Wheeler’ on the bar at the top of the screen.
- You will be redirected to a new page where you will have to select ‘Renew Shriram’.
- You will then be redirected to a new page that will request you to enter the policy number of the plan that has to be renewed along with any one of the registration number, the engine number, or the chassis number.
- Once you have entered the aforementioned details, you will have to pay the renewal fee through a credit or debit card or net banking.
Why deductible is important in a Shriram Two Wheeler Insurance policy?
A deductible is essentially an amount of money that the individual who purchases a policy will have to pay in case his/her two wheeler subject to an accident. Selecting a higher amount as your deductible will ensure that your premium payments are lower, and responsible riders can opt for a higher deductible to get a discount on the premium.
What to do after expiry of a Shriram Two Wheeler Insurance Policy?
It is illegal to ride a two wheeler without a valid insurance in India. Violators are liable to punishment by law, making it extremely important to ensure that your two wheeler insurance is active at all times. If your two wheeler insurance is about to expire, you can simply visit the official website of the company and renew it to ensure that you stay clear of trouble.
Shriram General Insurance Company Customer Care Service
The Corporate Office of Shriram General Insurance Company Limited is located in Jaipur, and customers can reach the company at its toll free number – 180030030000, or fax them at 0141-2770692/93.
Shriram Two Wheeler Insurance Frequently Asked Questions:
- Will the insurance plan offer coverage if I do not have my driving license?
The Shriram Two Wheeler Insurance policy requires the rider to possess a valid driving license on their person at the time of an accident in order to be eligible for claims.
- How can I pay premiums?
Premium payments can be made through auto debit, debit or credit card, cheque or cash, or net banking.
- How will I be eligible for a No Claim Bonus?
Customers who have not made any claims over the previous policy term can make the most of a No Claim Bonus through which they can receive discounts on the premium payments.
- What is the sum assured of this policy?
The sum assured of the Shriram Two Wheeler Insurance policies will be the Insured Declared Value of the two wheeler.
- How can I check the status of my two wheeler insurance policy?
Customers can check the status of their bike insurance policy by calling the company’s toll free number where they will be assisted by the customer service representative.