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Shriram Two Wheeler Insurance

About Shriram Two Wheeler Insurance

Shriram Group is one of the pioneering names among business houses in India. Apart from being one of the leaders in the Indian insurance industry, it also specializes in other sectors like retail stock broking, investment distribution, chit funds, etc.

From its wide range of insurance products, which includes life and general insurance, its motor insurance is especially known for its effective features and benefits, and reliable customer service. Complimented by a hassle-free claim settlement process, the insurance company aims at creating value for customers looking for a two wheeler insurance policy.

Features of Shriram Two Wheeler Insurance

  • The No Claim Bonus (NCB) feature makes the policyholder eligible for an attractive discount on the premium for the next policy year when he/she does not raise claims in the existing policy year. The discount increases on every consecutive claim free year and extends to up to 50%. This feature can be availed even on new Shriram two wheeler insurance as well as on policies that have been transferred from another insurance company to Shriram two wheeler insurance company.
  • Shriram two wheeler insurance offers a discount of a maximum of 50% on policy renewal.
  • The Insured Declared Value (IDV) determines the sum insured that the policyholder can avail. It is the maximum sum assured that the insurer will offer in the event of a theft or loss of the insured two wheeler. It comprises of a certain percentage of the selling price of the two wheeler, as quoted by the manufacturer, and its depreciation value. The depreciation value is deducted from the quoted selling price to arrive at the IDV.
  • Some of the important parameters that decide the premium are cubic capacity of the engine, the carrying capacity, age and gross weight of the two wheeler, Insured Declared Value, location of registration of the two wheeler.
  • Cashless claims on repairs at garages that are a part of the network of Shriram two wheeler insurance.
  • Offers the flexibility and convenience of online renewal on the expiration of the policy.
  • Third Party Cover - Maximum cover for third-party property damage will be Rs. 1 lakh in the case of two-wheelers. Unlimited coverage to the “Third Party” due to accidental death or injuries

Add-on Covers for Shriram Two Wheeler Insurance

  • Personal Accident Cover: Personal accident coverage for the policyholder is extended to the employed driver (if any) and passengers with this add-on cover, ranging between Rs. 10,000 to Rs. 2 lakh. Passenger includes children, spouse and parents of the policyholder.
  • Feature discount: An additional premium payment also makes the policyholder avail a discount on premium.
  • Cover for electrical and non-electrical parts: This rider offers benefits on certain electrical and mechanical two wheeler accessories, as mentioned in the policy document.

Benefits of Shriram Two Wheeler Insurance

  • Third Party Liability only financially secures third party individuals and property against death and bodily injury arising due to an accident, as well as damages caused by the two wheeler insured by Shriram two wheeler insurance.
  • The comprehensive plans protect the insured vehicle in case of death, bodily injury, theft and damage caused by the insured two wheeler.
  • Add-on riders add to the features of basic liability only and basic plans, improving its effectiveness further.
  • A no-claim policy year attracts discounts, known as No Claim Bonus, on the premium for the next policy year.
  • Discounts on premium make Shriram two wheeler insurance even more affordable for policyholders.
  • Quick and hassle-free purchase, renewal and claim settlement process, which can be initiated online and offline, further increase the convenience of being a Shriram two wheeler insurance policyholder.
  • Cashless claims can be initiated at authorized network garages of Shriram two wheeler insurance, eliminating the burden of arranging for finances during emergency situations.
  • Offers efficient 24*7 customer service that assists and guides customers with queries and other requirements.

Covers Offered under Shriram Two Wheeler Insurance

Covers are offered in case of accidents caused due tom the following:

  • Natural calamities: Damage or loss arising due to situations like earthquake, fire, explosion, flood, cyclone, landslide, hailstorm, and the like.
  • Manmade disasters: Situations like theft, burglary, terrorist activities, damage on transit by rail, road, air, inland waterway, elevator, etc.
  • Add-on covers like Personal Accident Cover, etc. on the payment of a nominal additional amount over and above the premium for the basic cover
  • Third Party Liability: Shriram two wheeler insurance covers death and physical injuries caused to a third person due to an accident caused by the insured two wheeler

  • Third Party Property Liability: Any damage to third party property arising due to an accident caused by the insured two wheeler is also covered by Shriram two wheeler insurance.

Eligibility of Shriram Two Wheeler Insurance

  • Registration from any Roads & Transport Authority (RTA) in India

Points to Note

  • Modification of the vehicle from the original make of a two wheeler widely reduce the chances of rejection of your Shriram two wheeler insurance application
  • Two wheeler fitness certificate that confirms that the vehicle is safe enough to run on Indian roads. This certificate is especially essential for old two wheelers
  • A fixed fee has to be paid to buy a Shriram two wheeler insurance policy, without which an applicant would not be eligible for purchasing it

Exclusions of Shriram Two Wheeler Insurance

  • Loss/damage caused as a result of negligence
  • Loss/damage caused when the insured two wheeler was being used for nay purposes other than what it has been registered for
  • Loss/damage caused due to the third party or insured while driving under the influence of drugs or alcohol
  • Loss/damage caused when the insured two wheeler was being driven without a valid driving license
  • Loss/damage caused due to special circumstances like war, nuclear weapons, terrorist activities, etc.
  • Electrical and non-electrical failure, normal wear and tear, breakdown, depreciation, etc.

Claims Process for Shriram Two Wheeler Insurance

For repairs, you can initiate claims by following these steps:

  • Select an authorized garage, so that you can avail cashless benefits offered by Shriram two wheeler insurance.
  • A professional at the garage will survey the damages and then present an estimate of the expenses that will be required for repairs.
  • Replacements for damaged parts with new accessories can be undertaken only for certain parts, as mentioned in Shriram two wheeler policy document.
  • The claims status can be tracked on via the official website of Shriram two wheeler insurance. Alternatively, you can get in touch with their customer service for assistance. In case of an accident, you need to follow these steps:
  • In case of damage to any third party individual or third party property, get the necessary information – name and contact details of the individual, or vehicle number and the model of the vehicle
  • Remember the time, date and location of the accident
  • Get in touch with your insurer as soon as possible because the sooner, the better will it be for further investigation and hassle-free claim settlement
  • Visit a garage, preferably an authorized garage, so that you can avail the cashless facility.
  • A professional will inspect the damages and then present an estimate of the expenses that will be required for repairs.
  • If you have visited a cashless garage, the claims will be settled directly with the garage by the insurance company. Otherwise, you can finance the expenses and submit the bills as proof for getting the reimbursements.

Customer Care Details of Shriram Two Wheeler Insurance

If you want to enquire about the two-wheeler insurance solutions offered by the Shriram General Insurance Company or need assistance with any issue or concern with respect to your existing insurance policy, you may get in touch with the customer care team of the insurance company which will help you with available solutions/alternatives to your issue. The company offers 24/7 customer support and enables policyholders to file their claims and track the status of the same online. Here are some of the ways to reach out to the sales and support team at Shriram General Insurance Company:

Shriram General Insurance Customer Care Number

Address of Corporate Office:

Shriram General Insurance Co. Ltd. E-8, EPIP, RIICO Industrial Area, Sitapura, Jaipur - 302022

Fax: 0141-2770692, 2770693

Toll-free Number: 1800-300-30000 / 1800-103-3009

Review of Shriram Two Wheeler Insurance

Shriram two wheeler insurance is one of the most popular general insurance companies in India. The insurance company offers a range of two wheeler insurance plans, each of which have been customized to suit varied needs of vehicle owners. Add-on riders, which are optional and available on the payment of a minimal additional amount, enable policyholders to improve the effectiveness of their chosen plan, as per their requirements.

Further, a network of authorized garages makes cashless benefits accessible to Shriram two wheeler insurance policyholders whenever need be. All of these benefits, complemented by an efficient customer service team, make Shriram two wheeler insurance one of the most preferred insurers for your valued vehicle.

FAQs for Shriram Two Wheeler Insurance

What are the available premium payment options for Shriram two wheeler insurance?

Here are the accepted modes of premium payment for Shriram two wheeler insurance:

  • Credit/Debit Card
  • Net Banking
  • Cheque

How long will my Shriram two wheeler insurance policy be valid? How often do I need to renew it?

Policies from Shriram two wheeler insurance have to be renewed annually. The policies have a validity period of 12 months.

Can I buy and renew Shriram two wheeler insurance online?

Yes, Shriram offers their customers the benefit of purchasing and renewing their policies online through their official website. Not just that, it encourages customers to avail these online facilities by offering them a discount of 40% on the annual premium.