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A Car Insurance policy is a contract between the vehicle owner and the insurer to protect your vehicle against third-party liabilities and own damages
A Comprehensive Coverage protects the vehicle owner against third-party and own damage losses arising due to unforeseen events. With Shriram Comprehensive Car Insurance policy, choose preferable add-ons to enhance your coverage furthermore
An Own Damage (OD) coverage is focused on insuring your vehicle against various accidental damages. The coverage includes natural calamities (heavy floods, storms, hurricanes, earthquakes) and manmade disasters (theft, strike, riot)
Third-Party (TP) coverage is mandatory according to Section 146 of the Motor Vehicles Act, 1988. Shriram Third-Party Car Insurance policy protects the vehicle owner from any third-party liabilities (injury to the opponent vehicle owner and vehicle/property damage)
Shriram Car Insurance premium will be determined by various factors such as the make, model/variant of the vehicle, year of manufacture, Insured Declared Value (IDV) of the vehicle, car insurance plan and add-ons
The primary component of calculating a car insurance premium includes the make and model of the vehicle to be insured
The manufacturing year of the vehicle is an essential factor in determining the IDV, NCB and past claims history of the vehicle
The Insured Declared Value (IDV) represents the current value of the vehicle. It is the maximum amount that the insurer will pay in case of a total loss of the vehicle
Third-Party car insurance is mandatory in India. The Third-Party car insurance premium depends on the cubic capacity of the car. An Own-Damage car insurance premium varies from one insurance company to another
An individual can opt for an add-on depending on their requirements. This adds to the cost of a basic policy
If the insured has not claimed for own damages during the previous policy period, No Claim Bonus is applicable for Own-Damage premium of the policy
Renewing a car insurance policy is made simple and easy with Shriram General Insurance's digital-friendly platform. Buy or renew your car insurance in minutes from anywhere, at the convenience of your fingertips. The benefits of online renewal include the following,
An individual can save on their car insurance premium based on the mentioned factors
There are different types of car insurance policies are available with Shriram General Insurance. Choose your insurance policy wisely based on the requirements
Be cautious while purchasing add-ons. It is advisable to buy add-ons only if there is a need. But choosing the right add-ons will result in extensive accidental coverage
A deductible is an out-of-pocket expense that needs to be paid by the insured during a claim. There are two types of deductibles: compulsory and voluntary deductibles. Choose your voluntary deductibles wisely to save on your premium
If the insured has not filed any Own Damage (OD) claims over the years, they are eligible for No Claim Bonus on their OD premium during renewal
The cost of car insurance in India is determined by the type, age, and location of the car, as well as the coverage is chosen. The third-party liability premium is based on the engine capacity.
Yes, all new cars sold in India must be insured for third-party liability for three years. The regulation was implemented in 2018 and aims to promote road safety by ensuring that all vehicles are adequately insured.
A number of factors influence the cost of car insurance, such as car's age, make and model, location, and the coverage you select.
Depending on your insurer's terms and conditions, you may be able to add zero depreciation to your car insurance up to 5 years. While some insurers allow you to add this coverage at any time, a few insurers provide this as an add-during your vehicle insurance renewal
It's a 3 step process:
1. Get a copy of your vehicle insurance by visiting the official website of the insurance company.
2. Log in by entering their policy number
3. You will be able to download duplicate policy documents after logging in.
New car insurance is valid for up to 3 years for the third-party insurance, and 1-year for the Own Damage (OD) Cover. After the expiration of the policy, it must be renewed to continue receiving coverage. It's important to keep track of the policy expiration date and renew it in a timely manner to avoid any lapse in coverage.
Without zero depreciation coverage in your car insurance policy, you may have to pay for any repairs or replacement parts for your vehicle that have depreciated over time. The result is that you may have to pay out of pocket more in case of an accident or damage.
A zero depreciation policy may be applicable for a period of one to five years, depending on the insurer. Your insurance provider should inform you about the duration of the coverage and any terms and conditions that may apply.
To determine if your insurance policy includes zero depreciation, check the policy documents or contact your provider. In the policy documents or premium receipt, the add-on cover is usually mentioned separately. The premium for policies with zero depreciation is usually higher than those without.
Visit the website of your insurance provider and login to your account to download your car insurance policy copy online in India. Then, choose the option to download the policy copy, which will be in PDF format. If you would like a copy sent via email or courier, you can request it.
There is no legal requirement for comprehensive car insurance in India. According to the Motor Vehicles Act of 1988, all vehicles must carry third-party liability insurance. A comprehensive insurance policy offers coverage for damage to your own vehicle as well as third-party liabilities.
No middle-men platform with affordable premiums
Quick claim assistance with minimal documentation
A digital-friendly process for easy policy purchase/renew
24*7 Customer Support
Anywhere, anytime support for all your car insurance needs
Easy and Quick Renewal
Online car insurance renewal to save time and effort
Advantage of No Claim Bonus
NCB is offered for claims-free policy period
Insuring your vehicle with Shriram General Insurance is simple, instant and effortless
No Claim Bonus is provided by an insurer to the insured who does not make any OD claims during the policy year
Shriram Car Insurance policy offers Comprehensive, Standalone Own-Damage (OD) and Third- Party (TP) insurance policy depending on the scope of the coverages
Types of Shriram Car Insurance
All of the coverage provided by Third-Party, Own Damage cover (damage/losses to your car) and Personal Accident cover is included in the Comprehensive Car Insurance policy. It provides coverage for accidents like theft of the insured car, accidental damage, fire damage, natural calamities (such as floods, earthquakes, storms) and man-made disasters (such as riots). Compulsory Personal Accident (CPA) coverage of 15 lakhs is always included with Shriram Comprehensive Car Insurance policy at affordable premiums
Own Damage (OD) coverage aids in protecting your car from damages brought on by unforeseen mishaps like accidents, theft, natural and man-made disasters, etc. An insured can purchase their Own Damage (OD) insurance along with his Third-Party Shriram Car Insurance policy at an additional rate for comprehensive protection. However, a standalone OD car insurance policy can be purchased only if the insured has Third-Party (TP) liability car insurance
It is mandatory to carry a Third-Party Car Insurance policy in India. A Third-Party (TP) car insurance protects the car owner from any damages arising from third-party liabilities. The Shriram Car Insurance policy provides coverage if your vehicle damages another person's vehicle/property or causes injury/death to another person. In case of your vehicle causes third-party property damage, Shriram General Insurance Company will offer compensation up to Rs. 750,000/- in the case of private cars Unlimited personal liability coverages, i.e., whatever the court awards as your liability to the third-party due to accidental death or injuries caused by your vehicle, will be met by Shriram Car Insurance policy
With the Shriram Car Insurance Comprehensive policy, you can choose any add-on or all of them at an additional premium for your additional safety
In case of accidental damage, you can claim the total cost of replacing vehicle parts. There will be no deduction for depreciation on damaged vehicle parts
Daily Reimbursement is an add-on cover that reimburses for using a private vehicle while their own vehicle is being repaired. The maximum reimbursement amount and time period are provided as per the motor insurance policy guidelines
In case any motor accident arises out of the use of an insured vehicle, Shriram Car Insurance policy will provide you an advocate to guide or/and defend you from police and proceedings of the judicial magistrate only
Return to Invoice coverage allows policy holders to receive compensation equal to the original invoice value of the vehicle (the vehicle's original purchase price), if the vehicle is stolen or beyond repair, the claim is valid
Personal belongings add-on cover helps with the loss of personal belongings from the locked vehicle, including car accessories
During vehicle breakdown in a riskprone area like highways, remote areas and so on, when you are stuck and in need of immediate help with alternative means of transport and hotel expenses to stay, Shriram Car Insurance’s Emergency Transport & Hotel Expenses cover will be of great help to you
Keys are essential, but these get misplaced or maybe stolen at times. Here comes the Key Replacement add-on to save you at an additional cost
Add-ons can be purchased with a standalone OD and comprehensive car insurance policy at any time during the policy period. Adding new coverage may require an inspection of your vehicle. You need to initiate an endorsement to include add-ons. Kindly send us an email or call our toll-free number. For additional coverage, you may need to pay an additional fee
Own Damage (OD) cover is a type of car insurance coverage that provides coverage for the insured vehicle's own damage or loss due to events such as accidents, theft, fire, natural disasters, vandalism, and malicious acts. The OD cover can be purchased as a standalone policy or as part of a comprehensive insurance policy that includes the third-party policy and OD cover.
The term third-party liability in car insurance in India refers to your legal and financial responsibility for any damage your vehicle causes to a third party. According to the Motor Vehicles Act of 1988, it is mandatory and provides coverage for an accident, death, or property damage to a third party.
Own damage insurance usually has a one-year validity period, after which it must be renewed.
Comprehensive car insurance covers damage to the policyholder's own vehicle and third-party liability. In third-party liability insurance, only damages and injuries are covered to other people or their property. Third-party insurance is mandatory in India, but comprehensive insurance is optional.
Comprehensive car insurance covers both third-party liability and vehicle damage, including natural disasters and thefts. A policyholder with own-damage insurance covers damages to their own vehicle caused by fire, theft, or natural disasters.
A policyholder's own-damage car insurance covers damage to their own vehicle caused by accidents, fire, theft, or natural disasters. Insurance that covers all repair costs and replacements without considering the depreciation value of the car is known as zero depreciation insurance. Indian insurance companies offer it as an add-on to their own-damage policies.
A comprehensive car insurance policy provides a broader range of coverage than a third-party liability policy. A policyholder is covered for damages to their own vehicle as well as for third-party liability, including natural disasters, theft, fire, riots, and accidents.
Coverage against any loss or damage caused to the vehicle due to the following natural and man-made calamities
Fire, explosions, self-ignition or lightning, earthquakes, floods, typhoons, hurricanes, storms, tempests, inundations, cyclones, hailstorms, frosts, landslides and rockslides
Riots, strikes, malicious acts, terrorist activities, any violent activities are generally covered as man-made disasters
Burglary, theft, accidents by external means, any damage in transit by road, rails, inland waterways, lifts, elevators or air
The insurance policy provides unlimited coverages, i.e., whatever the court awards as your liability to the third-party due to accidental death or injuries caused by your vehicle
In case your vehicle causes third-party property damage, the insurer will offer compensation up to Rs. 7,50,000/- for private cars
Accidental loss or damage to the insured or any person driving with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs or wilful negligence
Loss or Liability while the vehicle is used outside the scope of limitations of use and/or being driven by a person not duly licensed
Loss connected to nuclear or radioactivity or war and related activities is not covered under this policy
Consequential loss, Depreciation, wear and tear, mechanical and electrical breakdown/failure or breakages will not be covered by Shriram Car Insurance policy
According to the IRDAI regulations, a compulsory deductible is an amount the insured must pay as part of their claim. The compulsory deductibles are not covered by Shriram Car Insurance policy
Shriram Car Insurance policy offers a range of value-added coverages for your car at a nominal additional premium
Yes, electric/CNG/LPG vehicle needs a car insurance policy. An insured can avail these value added features at an additional premium
Damage to the car bumper is covered under the comprehensive insurance and not with the TP Liability policy.
The comprehensive coverage usually covers non-collision damage, such as scratches caused due to natural calamities or collision. The coverage and limits of your policy will depend on your insurance provider and policy.
The comprehensive insurance and the OD cover provide coverage against multiple dents, caused due to accidental external means arising from a single incident.
Yes. At Shriram General Insurance, both Bumper-to-Bumper and zero depreciation covers means the same. It is referred to as Nil Depreciation Cover at Shriram.
Tyre damage due to wear and tear, punctures, or blowouts is not usually covered by standard insurance policies. However, if the vehicle is damaged at the same time in which case the liability of the insurer shall be limited to 50% of the replacement cost.
"Bumper to bumper" car insurance is a term commonly used to refer to car insurance that includes a comprehensive insurance policy and the Nil Depreciation or Zero Depreciation add-on cover.
The bumper to bumper insurance is common term used to identify a comprehensive insurance which includes the Nil Depreciation Cover. It offers coverage without considering the depreciation factor, reducing your out-of-pocket expenses.
Bumper-to-bumper insurance is a common term for comprehensive insurance which includes the Zero Depreciation or the Nil Depreciation add-on cover. However, the "normal insurance" is a common term used to refer the comprehensive insurance without the Nil Depreciation add-on cover.
Car insurance does not provide coverage for damage to CV joints.
Damage to the car clutch plate is not covered under car insurance.
Benefits and Coverage
Own-Damage to the car due to an accident
Own-Damage to the car due to fire
Own-Damage to the car due to natural calamities
Third-Party damage to the vehicle
Third-Party damage to property
Compulsory Personal Accident Cover
Theft of the vehicle
No Claim Bonus (NCB)
Yes, any electrical and electronic equipment that is not factory fitted with the vehicle can be covered under electrical accessories at an additional premium. For Example, a Music System that is installed in the car after the purchase of the vehicle can be covered
The insured has to provide an invoice copy of the electrical accessories along with, serial number of the electrical accessories. Adding new coverage may require an inspection of your vehicle. You need to initiate an endorsement to include add-ons. Kindly send us an email or call our toll-free number. For additional coverage, you may need to pay an additional fee
A car insurance premium is an amount paid to an insurer for purchasing a policy. Shriram Car Insurance premium will be computed based on various factors, such as the policy chosen, cover types, add-ons, term period, etc.
The government of India has made third-party liability insurance mandatory. TP premiums are computed based on the cubic capacity of the car engine
It is a part of the premium one pays to get coverage against various natural and man-made disasters. Each insurance company will have their own pricing for an Own-Damage premium
Recently, the government has made Personal Accident coverage mandatory for car owners/drivers due to the rise in injury cases. For risk cover, Rs. 15 lakh is the minimum sum insured
Add-ons are additional covers for the vehicle for enhanced protection. The premium rates depend on the type of add-on chosen by the insured. Some of the popular add-ons are zero depreciation cover, motor protection cover, engine and tyre protection cover, roadside assistance, etc.
IDV (Insured Declared Value), age of the car (If your car is an old one), Zone/City of Registration, Cubic capacity of the car engine and No Claim Bonus
The person must own a vehicle with a valid driving licence and original RC can purchase Shriram Car Insurance online at ease
Since purchasing a Shriram Car Insurance is a paperless process, there is no need to upload any scanned copy of the documents to get their car insurance
No. The Third-Party (TP) liability policy is a mandatory requirement as per Section 146 of the Indian Motor Vehicles Act, 1988. The Shriram Car Insurance policy insures the liability of the owner of the vehicle against Third-Party damages
Enter the basic details of the new car to estimate the premium payable
Provide the details of the vehicle owner and choose the suitable policy/add-on covers of your choice
Complete your online payment and get instant car insurance
With Shriram General Insurance website or MYSGI App, online car insurance renewal is quick and hassle-free. You can renew your car insurance policy through 3 simple steps without paperwork
Enter the previous policy details of your car and check the given details to estimate the premium of the renewal policy
Select the new coverages for your existing policy
Complete your online payment & renew the car insurance policy
Some of the benefits are:
With Shriram General Insurance, your claim settlement process is stress-free now
You can file a claim online at the Shriram General Insurance website or over the phone at 1800-300-30000/1800-103-3009 or through the MYSGI App. Our customer service team will guide you throughout the car insurance claim process
You are requested to provide the details of the accident
Please provide the address for the primary car inspection
Kindly provide the vehicle kilometre reading (distance travelled by a vehicle)
Kindly mention the date and time the accident took place
As soon as your documents & process get verified & completed, we will initiate the funding process and disburse the funds directly to the recipient after verification
On receipt of all the relevant claim documents along with the original repair invoice and satisfaction voucher/discharge voucher and NEFT details, the claim will be processed within the mentioned timeframe
No, you cannot pay the premium in instalments. As per Section 64VB of the Insurance Act, 1938, a full insurance premium is to be paid before the risk starts
A claim can be filed by contacting your insurance company's customer service helpline or visiting the nearest branch office in India. Make sure you have all the information and documents related to the claim, such as the FIR, policy, driving licence, and vehicle registration certificate.
You can generally submit a car insurance claim without an FIR, depending on the circumstances. An FIR is typically required for cases involving theft, malicious damage, or major accidents involving fatalities or injuries. However, for minor damage to the car, an FIR may not be necessary.
Damage to car tyres is not covered under car insurance unless the insured car is damaged at the same time. In this case, you shall receive coverage of up to 50% of the replacement cost.
You can raise a claim against damages to your car caused due to your fault. However, the coverage shall not be offered in case of theft and gross negligence.
You can file a claim online at the Shriram General Insurance website or over the phone at 1800-300-30000/1800-103-3009 or through the MYSGI App. Our customer service team will guide you throughout the car insurance claim process.
In India, you can initiate a claim by calling your insurance company's customer service helpline or visiting their nearest branch office. Start the claim process by providing detailed information about the claim, including the FIR, policy document, and vehicle registration certificate.
There are generally no limitations on how many claims you can make in a year under your car insurance policy. It is important to note that the car insurance claim affects the NCB (No Claim Bonus).
The claim amount in India is determined by the extent of vehicle damage and the policies' coverage. To determine the value, the cost of repairs or the market value of the vehicle are subtracted from the deductible and depreciation.
If you need to make a claim on your car insurance, you need to notify your insurer promptly and provide them with all the necessary details. During the claim assessment, follow their instructions and cooperate with the surveyor.
There is no set time for the settlement of car insurance claims in India, as it depends on the complexity of the claim and the insurer's internal processes. As per the Insurance Regulatory and Development Authority of India, insurers must settle motor insurance claims within 30 days of receiving all necessary documentation.
Various factors can affect the settlement period for a car insurance claim, such as the complexity of the claim and the insurer's internal processes. According to the Insurance Regulatory and Development Authority of India, motor insurance claims must be settled within 30 days of receipt of all required documentation from the policyholder.
The vehicles are insured at a fixed value called the Insured Declared Value (IDV). IDV is the vehicle's current market value. Insured Declared Value (IDV) is the maximum sum insured provided by the insurance company if the insured vehicle is stolen or totaled. In case your car undergoes total loss or theft, IDV is the amount offered to you to compensate. Insured Declared Value of the vehicle that starts depreciating when it comes out of the showroom
A deductible is an amount the insured must pay as an out-of-pocket expense before the insurer pays the rest of the claim. There are two types of deductibles i.e. Voluntary and Compulsory Deductibles. A voluntary deductible is opted by the insured, whereas a compulsory deductible is imposed by the Insurance Regulatory and Development Authority of India (IRDAI). There is a compulsory deductible for claims under the Own Damage section of car insurance policy
No Claim Bonus (NCB) is offered to those insured who didn't make a single OD claim during the policy period. You can get NCB accordingly when you don't file any claim and the discount keeps increasing with the consecutive claim-free years until it reaches up to 50%.
The term "Cashless Garage" refers to a garage that has a cashless claim settlement agreement with an insurance company. With a Cashless Garage, the insurer directly settles the car's repair bill with the garage except for the policy deductibles
Yes, all are the same. Bumper-to-Bumper Car Insurance covers all parts of the vehicle during an accident
A Break-in Insurance is when there is a gap in the new insurance risk starting date and previous policy end date
Visit the SGI website/MYSGI App home page and scroll to the top to access your Shriram Car Insurance account
Enter your car insurance policy and click "Download" to get your policy documentNote: The insured can also receive Shriram Car Insurance policy document via email
Your Shriram Car Insurance policy will be void if you don't declare the modifications to an existing plan. It will seem fraudulent if it's not reported at the point of application, as you have not provided accurate information deliberately
A 24*7 RSA cover offers quick assistance to a car owner if his/her vehicle breaks down or has a mechanical failure on the road or at home
Yes, the vehicle driving abroad can also be covered by taking the Geographical Extension Cover. The Geographical Area of Motor Policies may be extended in these countries: 1) Bangladesh 2) Bhutan 3) Nepal 4) Pakistan 5) Sri Lanka 6) Maldives Rs.500/ per vehicle, irrespective of the class of vehicle (Package Policy) Rs.100/ per vehicle, irrespective of the class of vehicle (Liability Only Policy)
Third-Party (TP) car insurance only covers other vehicles or property on the road and does not cover accidents or damage to own vehicle. But a Comprehensive/Package car insurance covers the car against any damages depending on the add-ons you have purchased with your car insurance
With Nil Depreciation Cover, you can claim the full cost of replacing vehicle parts in case of accidental damage. For damaged parts of a vehicle, there will be no deduction for depreciation
Premium is the amount to be paid for a contract of insurance to the insurance company. It is the sum that a person has to pay annually or according to their plan in return for the coverage he/she has taken from the insurance company
The insurance premium of your vehicle is chargeable in one go. Our Premium Rating depends upon the following factors:
No. It is different depending upon the vehicle category
In this scenario, the policy will be cancelled and the legal effect of the policy gets nullified. In case any claim is reported after policy issuance and cheque dishonour, the claim will be repudiated
No, there is no such limit available. The insured can claim any amount up to the IDV of the insured vehicle from the insurer at any time within the policy period
You only lose your NCB if you make a claim during the policy period or don't renew your car insurance policy before 90 days of its expiry date
The main advantage of buying online policy are:
Yes, you can approach the same office which had issued the policy with a written request. A nominal fee will have charged for issuing a duplicate policy copy
An Insured can get one of the two policies cancelled. If he fails to do that, the premium paid will not be refunded in any circumstance after the expiry of the policy
Your Car Insurance policy cover remains in force for 12 months from the date of commencement (or as otherwise shown on your policy schedule)
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