Shriram General Insurance Company is a joint venture of Shriram Capital Limited and Sanlam Limited (a South Africa-based financial services company) with a share of 74:26. It entered the insurance industry in September 2012. With its slogan “Be insured rest assured,” the company offers various insurance products under different categories. Let us talk about various products offered by Shriram General Insurance.
Types Of Shriram General Insurance
These are the few types under Shriram General Insurance
- Two Wheeler
- Personal Accident
- Commercial Vehicle
- Fire Insurance
- Engineering Insurance
- Marine Insurance
- Liability Insurance
- Shri Suraksha Insurance
- Householder’s Umbrella Package insurance
- Shopkeeper Umbrella Package Insurance
- Personal Accident Insurance
- Fidelity Guarantee Policy
- Burglary Insurance
- All risk Insurance
- Business Protector Policy
|Policy Term||1-3 years|
Documents Required To Purchase Shriram General Insurance Polices
- Age Proof: Driving license, PAN Card, Passport, Birth Certificate
- Identity Proof: Passport, Voters ID card, PAN Card, Driving License
- Address Proof: Bank A/c statement, electricity bill,
- Income Proof: Employer’s certificate, I.T. Return
Shriram General Insurance Plans
Car Insurance from Shriram General Insurance covers third party liability and other losses suffered by the owner of the car due to its theft, fire, explosion, burglary, strikes, earthquake, riots, accident, flood, cyclones, malicious act and terrorism.
|Policy Term||1 Year|
|Personal Accident Cover||Rs 10,000- Rs 2,00,000|
|Third party liability||Up to Rs 7,50,000|
|No Claim Bonus||Up to 50%|
Two Wheeler Insurance
Shriram two wheeler insurance plan gives a comprehensive coverage for the damage suffered by the bike, along with third party financial liability.
Shriram Home Insurance Policy covers home under dwelling insurance which includes the house that the person lives in and also anything which is attached to the structure of the home like garage, porch or deck. Along with this, it includes all the built in appliances in the home. One can also include separate guest houses which are not attached to the home structure, if any to the policy.
Travel Insurance Policy
This is designed to suit the requirements of those people who are going overseas for the purpose of holiday, leisure or business. It takes care of any emergency financial need during overseas travel for holiday, business or leisure.
Accident can occur anywhere and may result in death or injury to you. Personal Accident Coverage will cover this uncertainty against death and disablement from accidental bodily injury
|Entry Age||1-70 Yrs|
Commercial vehicles are high value assets as their prices are very high. So it is important to insure the commercial vehicle in order to protect businesses from financial losses.
Other Types Of Insurance
To help people cover the losses incurred in business or at home due to fire, Shriram General Insurance provides various fire insurance policies:
- Standard Fire and special perils policy
- Industrial All Risk Policy
- Fire loss of profit policy
Various policies under this insurance are:
- Contractors all risk insurance policy
- Erection all risk insurance policy
- Electronic equipment insurance policy
- Machinery breakdown insurance policy
- Contractor’s plant and machinery policy
- Boiler’s and special plant insurance policy
Cargo Insurance policy: Loss and damage caused to the cargo in transit are covered by the policy. The policy can be taken by buyer, buying agent, seller and contractor involved in the business related to the goods transferred by cargo.
Liability Insurance : Below are the various policies offered under liability insurance are:
- Professional Indemnity for Doctors and other than Doctors
- Commercial general liability
- Errors and omission- for medical establishments
- Product liability
- Public liability- non industrial
- Public liability- Act
- Workman compensation insurance
Shir Surakhsa Insurance
This policy can be taken by any person up to 70 years engaged in business operation/maintenance of vehicle. The policy covers individuals, family and also the residential property where the work is being done against fire and allied perils.
Householder’s umbrella package insurance
This pre-packaged plan is designed for the householders to choose from the different plans according to their need.
Shopkeeper umbrella package insurance
This is also a predesigned insurance package where the shopkeepers can take insurance policy under one single umbrella instead of different policies. Various contingencies are covered up. Depending upon the sum insured selected the shopkeeper needs to pay the premium amount.
Fidelity Guarantee Policy
The policy provides coverage for financial loss due to fraud/ dishonesty caused by the employee.
Burglary Insurance: Provides coverage against financial loss due to burglary or theft. Available add-ons which can be taken along with the basic policy are theft on premises, fidelity guarantee coverage and purchase protection coverage.
All Risk Insurance
This policy covers financial loss to the property of the insured due to fire, strike, riot, etc, if they are caused by the transfer of portable equipment around the storage area.
Business Protector Insurance
It is specially designed for SMEs, hotels, restaurants and etc. It provides the policyholder with flexibility to design the policy as per their needs in which they can choose the cover as required to protect the property
Shriram General Insurance Online/Offline
Most of the Shriram General Insurance plans are available and one can purchase through the following steps:
- Select the plan you wish to buy and click on buy link.
- Clicking on this link will take you to the form where the policy seeker needs to enter the information which varies from plan to plan
- Once it done, pay the premium via net banking, credit, debit card and you will get the confirmation on your phone and email about the policy details
Policyholder needs to intimate the company in case of claim and make sure he have details like policy no, date and time of accident, estimated loss, driver name or any other details relevant to the claim handy before going through the following steps:
- One has the option to intimate the claim through customer care or send the claim intimation sheet to the help desk
- After this, customer support team will provide the reference number which the policy holder has to quote whenever required
- Once the claim is registered and the insurance company is done with the assessment, Surveyor will conduct the survey and accordingly will settle the claim
Documents Required For Claim Process
- Duly signed claim form
- Registration certificate (In case of Motor Insurance)
- Motor Insurance (In case of Motor Insurance)
- Driving license (In case of Motor Insurance)
- Police FIR (In case of Motor Insurance, fire insurance)
- Fitness certificate (In case of Motor Insurance)
- Documents to assess the stock at the time of loss (In case of fire insurance)
- Documents to substantiate the stock at the time of loss (In case of fire insurance)
Cases Where One Can’t Claim Shriram General Insurance
Shriram General Insurance is not liable to pay if the claim arises because of the following:
- Suicide, attempted suicide
- Self-inflicted injury
- Driving under the influence of drugs or liquor
- Injury, disablement, death directly or indirectly arising out of from any pre-existing disease
- Pregnancy or childbirth
- Death due to Nuclear energy, radiation
How Long Does It Take To Pay Out A Claim?
Mostly it depends upon the type of the claim but in general upon getting the required feedback from the Surveyor, Shriram General Insurance will settle the claim within seven days.
Renewal Process Of Shriram General Insurance
It is very easy to renew the policy in age of internet. All one needs to do is enter their policy number in the official website and click on renew. Apart from the online process, one also can vist the branch office and renew their policy by giving out the renewal form and cheque
Customer Care Of Shriram General Insurance
In case you are looking for insurance expertise, connect with Shriram General Insurance at 1800-300-30000 or fill out the query form given on its website.
Q1. Why should one buy/ renew motor insurance online?
- One can get up to 40% discount on premium amount if purchased online
- No paperwork required
- Multiple payment gateways like credit card
Q2. What is IDV?
All the vehicles are insured at a fixed value known as Insured’s Declared Value (IDV). IDV is calculated by addition of the manufacturer’s price of the vehicle and other accessories attached to it. The amount is then deducted by each year’s depreciation amount as suggested by the Indian Motor Tariff. IDV is the amount which is insured after all these deductions.
Q3-What is covered under travel insurance?
Shriram General Insurance overseas travel insurance policy makes sure the policyholder have smooth travel experience by covering unexpected contingencies such as loss of passport, checked-in baggage, trip cancellation, financial emergency.
Q4- What is the cancellation process?
In case the insured wish to surrender his policy, he can do so by filling the surrender form and submit other required documents to the insurance company.