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MOTOR INSURANCE

Under the provisions of Motor Vehicles Act, all vehicles that ply in public places must have an insurance policy that at least covers "Third Party Liability" as specified under the Act.

Policy Benefits-
    Protection from a financial loss arising out of loss or damage to your vehicle.
    Protection from liability towards third parties for personal injury.
    Compensation for death and property damage on account of any accident involving your vehicle.
    Competitive pricing
    Discount (NCB) for claim free experience
    No lengthy procedures
    Superior service levels and Standardized processes

What does the Shriram Policy Cover?
Loss or damage to your vehicle: The policy covers you against any loss or damage caused to the vehicle due to the following natural and man made calamities.

Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.

Man made Calamities – Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.

Personal Liability: Unlimited coverage 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 General Insurance Company Ltd.

Property Liability: In case of your vehicle causing “Third Party” property damage, Shriram General Insurance Company will offer to compensation up to Rs. 100,000/- in case of 2Wheelers and Rs. 750,000/- in case of Private Cars/Commercial Vehicle.

What does the Shriram Policy not Cover?
    Accidental loss or damage suffered whilst the insured or any person driving with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs
    Accidental loss or damage caused due to Willful 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.
    Consequential loss, depreciation, wear & tear, mechanical and electrical breakdown/failure or breakages
    Loss connected to nuclear or radioactivity or nuclear weapons
    Loss connected with war and related activities
    Policy deductibles: The first amount of each and every claim which you should bear. You can choose this amount as per the limits. The higher limit you choose, the greater the discount on the premium.

Additional Features:
To further protect you and your near and dear ones commuting in the vehicle with you, we offer a range of value added extensions to your Motor Insurance Policy at a nominal additional premium.

    Electrical & Electronic Accessories: Your electrical & electronic accessories like music players, seat covers, LCD mini TV, fog lights, etc can also be covered.
    Bi-Fuel System (CNG/LPG Kit): Your CNG/LPG Kit can also be covered.
    Personal Accident: You can avail of this cover for yourself (as the insured), for the driver of your vehicle (in case you have a paid driver) and unnamed passengers as per the seating capacity of the vehicle. Unnamed passengers can include your spouse, children, parents, etc. The Personal Accident cover is available from Rs. 10,000/- to a maximum of Rs. 200,000/- (in multiples of Rs. 10,000/-).

Discounts on Offer:
    NO Claim Bonus(NCB)
For claims free experience, discount available as per below given NCB chart on subsequent Renewal-

Period of Insurance

%age of Discount on Own Damage Premium

No claim made or pending during the preceding full year of Insurance

20%

No claim made or pending during the preceding 2 consecutive years of Insurance

25%

No claim made or pending during the preceding 3 consecutive years of Insurance.

35%

No claim made or pending during the preceding 4 years of Insurance

45%

No claim made or pending during the preceding 5 consecutive years of Insurance

50%

Sum Insured
The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the erstwhile Indian Motor Tariff.

Premium Computation:
The insurance premium for your vehicle depends on the cubic capacity of the engine, the carrying capacity or the gross weight of the vehicle, the age, place of registration and the IDV (Insured Declared Value).

Claim Service:
 1. We will take 24X7 claim notification service
 2. Timely customer contact and assistance
 3. Survey and assistance within a day
 4. We shall ensure that quality of claim settlement and customer satisfaction are taken care of in each and every step of claim settlement.
 5. Simple Claims Procedure – Hallmark of our corporate philosophy and approach.
 6. Claimant can know his claim status at any time from us.

Strengths of Shriram General Insurance Company Ltd.
In today’s age of consumerism, insurance requirements have expanded to keep pace with the increasing risks. Today we have wide assortment of risk coverage commencing from ransom to wedding, shops to assets, travel to vehicles etc…. General Insurance companies have willingly catered to these increasing demands and have offered plethora of insurance covers that almost cover anything and everything under the sun.

Hence foreseeing the General Insurance business as a Sunrise Industry, Shriram Group has entered into this business and as a result Shriram General Insurance came into existence. Upto Sept 2012 it was a 74:26 Joint Venture between Shriram Capital Ltd. and Sanlam Limited (South Africa).. SANLAM is a leading Financial Services Group of South Africa with a market capitalization of more than $6 billion, established in 1918 and the Group demutualised in 1998. SANTAM is a part of Sanlam Limited, which is engaged in short-term insurance cluster and is the leading short-term insurance company in South Africa. The overall team of SGI includes young and vibrant senior executives of insurance domain to handle Underwriting and Claim matters.

The business philosophy of Shriram General Insurance is to serve the largest number of common people (“Aam Admi”). The Group’s continued focus on addressing customer needs, nurturing talent and bringing a home grown technology platform while delivering to the underserved segments of the economy, has ensured strong growth & sustainability for over 3 decades. The Group’s vision is serving to the underserved and creating value at the bottom of the Pyramid.

SGI is redefining the service parameters of General Insurance Industry by ensuring that each employee understands the Slogan “BE INSURED… REST ASSURED” in its spirit and the customer has an overall pleasant experience. The company is giving special attention to the innovative products and application of latest IT developments in its operations.

SGI has been awarded "Excellence In Growth Award" second consecutive year (2011 & 2012)
Thus, SGI is all set to become the FIRST CHOICE General Insurance Company of India.

The features of Motor Policy are indicative only. For complete details please refer our Insurance Policy wording which is available on request.
The above are only indicative in nature. For other details for any context, please contact our nearest office.
The Insurance is the subject matter of Solicitation