A vital component of owning a car is having insurance, which offers financial security against unanticipated mishaps and losses. The market is flooded with insurance carriers, making it difficult to select the best one. Shriram General Insurance Company Limited is one business that stands out in the Indian insurance market. We will go into the specifics of Shriram Car Insurance in this blog, looking at its features, advantages, alternatives for coverage, claims procedure, and more. Find out why Shriram Car Insurance is a well-liked option for car owners in India.
Shriram General Insurance: An Overview
A joint venture between Shriram Group and Sanlam Limited (South Africa), Shriram General Insurance Company Limited (SGICL) is a division of Shriram Capital Limited. Shriram General Insurance was founded in 1974 and has a long history of offering both individuals and businesses insurance solutions. The business is renowned for its customer-centric philosophy, cutting-edge goods, and quick claim resolution.
Key characteristics and advantages
The following characteristics and advantages of Shriram automobile Insurance make it a popular option for automobile owners:
- Comprehensive Coverage: Shriram Car Insurance offers both third-party liability and own-damage protection as part of its comprehensive coverage. It protects you from financial obligations resulting from injury to a third party and also pays for injuries to your car.
- Third-Party Liability: In India, third-party liability insurance is required by the Motor Vehicles Act. This criterion is met by Shriram Car Insurance, which offers coverage for third-party property damage and bodily injury claims.
- Own-Damage insurance: Shriram Car Insurance offers own-damage insurance in addition to third-party liability, covering harm done to your car as a result of collisions, theft, fire, vandalism, and natural disasters.
- Personal Accident Cover: The policy includes financial help for the owner-driver in the event of accidental death or total and irreversible disability.
- Add-On Covers: Shriram Car Insurance offers a variety of add-on covers, including zero depreciation cover, engine protector, consumable expenses cover, and more, to help you extend your coverage.
- Cashless Claim Network: Shriram General Insurance offers policyholders the convenience of cashless claim settlement through its extensive network of cashless garages spread throughout India.
- No Claim Bonus (NCB): Policyholders are eligible to receive NCB, which results in a reduction in the renewal premium, for each year they remain claim-free. Over time, the NCB can dramatically lower the cost of the coverage.
- Quick and Efficient Claim Settlement Shriram General Insurance is renowned for its speedy and straightforward claim settlement procedure, offering a seamless experience for policyholders during trying times.
To meet the various demands of car owners, Shriram Car Insurance provides a variety of coverage options:
- Third-Party Liability Coverage: This is the fundamental insurance requirement. It covers the legal obligations resulting from third-party property damage and bodily injury caused by your vehicle.
- Comprehensive Coverage: This all-encompassing coverage offers protection for your car’s own damages as well as third-party liabilities.
- Standalone Own-Damage policy: If you already have third-party liability insurance from another company, you can choose Shriram Car Insurance’s standalone own-damage policy to safeguard your car.
The Shriram Car Insurance claim process can be started by following these easy steps in the event of an accident or damage to your car:
- Inform the Insurance Provider: Get in touch with your local Shriram General Insurance office or customer service line to let them know about the incident and file a claim.
- Document Submission: Submit the required paperwork, including the claim form, a copy of your driver’s license, your registration document, and a police accident report (if applicable).
- Vehicle Inspection: To determine the amount of the loss, a surveyor from Shriram General Insurance will examine the vehicle’s damages.
- Claim Settlement: The claim will be handled following assessment, and the settlement sum will be decided in accordance with the terms and conditions of the policy.
- Cashless Claim: If you use cashless services, you can have your car fixed at one of the garages in the network, and the insurance provider will pay the shop’s invoices on your behalf.
- Reimbursement Claim: If you decide to have your automobile fixed at a shop outside of the network, you may submit a claim for reimbursement of your costs along with the invoices and payment receipts.
Process of Renewal
Shriram Car Insurance must be renewed on time if you want to keep receiving its benefits. To renew your auto insurance with Shriram General Insurance, simply follow these instructions:
- Renewal Reminder: Before your policy expiration date, Shriram General Insurance will send you a renewal reminder. To prevent any coverage gaps, the policy must be renewed before it expires.
- Policy Review: Prior to renewal, evaluate your coverage requirements and look for any potential supplemental add-ons.
- Online Renewal: To renew your auto insurance policy online, go to the Shriram General Insurance website or download their mobile app. Give the required information, go over the policy, and send the payment.
- Premium Payment: To pay the renewal premium, select a practical payment method like net banking, a credit/debit card, or a digital wallet.
- Policy Issuance: Upon receipt of payment in full, your policy will be renewed and you will be sent a copy of the new policy documents by email or courier.
Shriram Car Insurance provides complete coverage and a variety of advantages to protect your car from a variety of threats. Shriram General Insurance has gained the trust of car owners all throughout India thanks to its customer-centric philosophy, quick claim resolution, and extensive network of cashless garages. Shriram Car Insurance makes sure that you are financially protected and may enjoy driving with confidence, regardless of how serious the accident or tiny ding is. It’s critical to evaluate your coverage needs, contrast various plans, and select the one that best fits your demands and budget before buying or renewing a vehicle insurance policy. Keep in mind that making an informed choice can significantly impact whether your priceless car is adequately protected.