Shriram General Insurance Company Limited, established in the year 2008 is making the mark in the Indian Insurance sector with a variety of offerings. The company was initially formed as a joint venture between Shriram Capital Ltd, Indian International Financial Service Provider Company and Sanlam Limited, a leading Financial Services Group of South Africa. Shriram Capital limited held 74% of the company’s stake and the remaining 26% of the stake was held by Sanlam Limited. However, since 2012, the entire stakes of Sanlam is transferred to Shriram Capital Limited. Shriram General Insurance Company offers a wide variety of general insurance products including motor, home and travel and many other products to cater to the insurance needs of various customer segments. 

Things to know about Shriram General Insurance Company Limited

Shriram General Insurance Company has received many accolades for its excellent work and contribution to the Indian Insurance sector. Here are some of the important facts about Shriram General Insurance Company Limited –

  1. The company has widespread presence across the country with more than 162 branches along with its distribution channels that make insurance easily accessible for people of the country
  2. Shriram General Insurance Company Limited is the preferred insurance partner of IRCTC
  3. The company is recognised as the Amiable Insurer in the Non-Life Insurance 2018
  4. The company has been awarded ‘’ Excellence in Growth Award’’ for consecutive years 2011 and 2012
  5. The company is recognised as the fastest-growing multi-line general insurance company in India
  6. The company mainly focuses on innovation in product development and application of the latest IT developments in its operations
  7. The company has a customer base of more than 12 million with asset under management (AUM) in excess of INR 90,000 crores

Types of Products Offered by Shriram General Insurance Company

Shriram General Insurance Company offers diverse range of innovative non-life insurance products to provide coverage against wide range of risk. The product portfolio consists of a variety of plans under each category to cater to the needs of various customer segment such as retail, corporate and rural etc. 

Following are the types of general insurance products offered by Shriram General Insurance Company –

  • Shriram General Motor Insurance Plan
  • Shriram General Travel Insurance Plan
  • Shriram General Personal Accident Insurance Plan
  • Shriram General Home Insurance Plan
  • Shriram General Marine Insurance Plan
  • Shriram General Fire Insurance Plan
  • Shriram General Liability Insurance Plan
  • Shriram General Engineering Insurance Plan
  • Shriram General Shri Suraksha Insurance Plan
  • Shriram General Householder’s Umbrella Package Insurance Plan
  • Shriram General Shopkeeper Umbrella Package Insurance Plan
  • Shriram General Fidelity Guarantee Policy
  • Shriram General Burglary Insurance Plan
  • Shriram General All Risks Insurance Policy
  • Shriram General Business Protector Policy
  • Pradhan Mantri Fasal Bima Yojana, and others

Let’s understand each plan offered by the company under each product category. 

  1. Shriram Motor Insurance Plans

    Motor insurance plans offered by Shriram General Insurance Company provides financial protection to the vehicles against various man-made and natural calamities. In India, vehicle insurance is a legal mandate for any vehicle to ply on Indian road. Though, third party insurance is a mandatory requirement, availing comprehensive package insurance has become the need of the hour. Shriram General Insurance Company offers various customised motor insurance plans. 

    Following are the motor insurance plans offered by the company –

    1. Shriram Car Insurance Policy

      Shriram General Insurance Company offers comprehensive car insurance policy covering all possible risks to provide extensive protection. 

      Coverage Offered under Shriram Car Insurance Policy

      A comprehensive policy is a package of three types of coverages. Following are the coverages offered under the policy-

      • Third-party liability cover –
        The policy provides coverage against liabilities arising from death or injuries caused to third parties when vehicle is involved in an accident. The policy also provides coverage against liabilities arising out of property damage caused to third parties.
      • Loss or damage to your vehicle –
        Shriram Car Insurance Policy provides coverage against loss or damage caused own vehicle due to below perils
        • Man-made calamities – Theft, burglary, riot, strike, malicious act, accident by external means, terrorist activity, damage in transit by road, rail, inland waterway, air, lift or elevator
        • Natural calamities – Fire, explosion, lightning, self-ignition, earthquake, typhoon, flood, hurricane, tempest, storm, cyclone, inundation, frost, landslide or rockslide
      • Personal accident cover for owner-driver-

        The policy compensates for death or disabilities caused due to vehicle road accidents. The scale of compensation varies depending on the severity of an injury. Following are the details –

        Nature of Injury

        Scale of compensation

        Death

        100% of the capital sum insured

        Loss of two limbs or sight of two eyes or one limb and sight of one eye

        100% of the capital sum insured

        Loss of one limb or sight of one eye

        50% of the capital sum insured

        Permanent total disablement from injuries other than named above

        100% of the capital sum insured

      Features of Shriram Car Insurance Policy

      Car insurance plan offered by Shriram General Insurance Company comes with various attractive and customisable features with various options to tailor the coverage as per need.

      Following are the features of Shriram Car Insurance Policy –

      • Comprehensive coverage against a wide range of risks
      • No claim bonus benefit of up to 50% for claim-free records
      • Portability benefit for people having car insurance with any other insurer earlier
      • Discount on the installation of safety measures such as anti-theft devices and also for members of recognised Automobile Association
      • Anytime assistance with round the clock customer support service
      • The option of the voluntary deductible for a premium reduction
      • Customisation benefit with various optional add-ons offered such as –
        • Zero depreciation cover
        • Personal belongings
        • Daily reimbursement
        • Return to invoice
        • Emergency transport and hotel expenses
        • Key replacement
        • NCB protection cover
        • Multicar rebate

      Car insurance policy can be customised based on the need. Now that the long-term third-party insurance cover for cars is mandatory, the company offers an option of long-term package policy and a bundled cover for three-years. You can choose depending on your need.

    2. Shriram Two Wheeler Insurance Policy 

      Two-wheeler insurance policy offered by Shriram General Insurance Company is simple, instant and hassle-free. The policy is tailor-made which is suitable for all types of bikes with extensive coverage.

      Coverage Offered under Shriram Two Wheeler Insurance Policy 

      The policy is a complete package that includes various types of coverage. Following are the coverage offered under the policy –

      • Third-party liability cover –
        The policy provides coverage against liabilities arising out of death, injuries and property damage caused to third parties when the vehicle is involved in an accident. 
      • Loss or damage to your vehicle –
        The policy provides coverage against loss or damage caused own vehicle due to below perils
        • Man-made calamities –
          Theft, burglary, riot, strike, malicious act, accident by external means, terrorist activity, damage in transit by road, rail, inland waterway, air, lift or elevator
        • Natural calamities –
          Fire, explosion, lightning, self-ignition, earthquake, typhoon, flood, hurricane, tempest, storm, cyclone, inundation, frost, landslide or rockslide
      • Personal accident cover for owner-driver

        The policy compensates the owner-driver for death or disabilities caused to him/her due to vehicle road accidents. The scale of compensation varies depending on the severity of an injury. 

      Features of Shriram Two Wheeler Insurance Policy

      • No claim bonus benefit of up to 50% 
      • 24/7 customer support 
      • The quick and simple online claim settlement process
      • Portability benefit for people having car insurance with any other insurer earlier
      • Customisation benefit to enhance the policy coverage with a variety of optional add-ons such as electrical and electronic accessories cover, personal accident cover for the paid driver or to unnamed passengers.
    3. Shriram Commercial Vehicle Insurance

      It’s important to have comprehensive protection for vehicles used for commercial purposes. Shriram General Insurance Company offers comprehensive coverage for commercial vehicles. 

      Coverage Offered under Shriram Commercial Vehicle Insurance

      • Third-party liability cover –
        The policy provides coverage against liabilities arising from death or injuries caused to third parties including property damage when the vehicle is involved in an accident. 
      • Loss or damage to your vehicle –
        The policy provides coverage against loss or damage caused own vehicle due to below perils
        • Man-made calamities –
          Theft, burglary, riot, strike, malicious act, accident by external means and terrorist activity
        • Natural calamities –
          Fire, explosion, lightning, self-ignition, earthquake, typhoon, flood, hurricane, tempest, storm, cyclone, inundation, frost, landslide or rockslide

      Features of Shriram Commercial Vehicle Insurance

      1. Cashless settlement facility at special garages
      2. Enhanced coverage through optional add-ons
      3. Hassle-free and quick claim settlement
  2. Shriram Travel Insurance Plans

    When it comes to travel, there are a lot of risks along with the thrilling experience that it gives. Considering the expensive medical services worldwide and various other travel-related hassles, it’s important to have an adequate and the right travel insurance plan. Shriram General Insurance Company offers a variety of travel plans suitable for various purposes and types of travellers. 

    Coverages Offered under Shriram Travel Insurance Policies

    In brief, the following are the coverages offered under the travel insurance plans offered by Shriram General Insurance Company –

    • Medical expenses cover
    • Daily hospitalisation allowance
    • Repatriation of mortal remains
    • Total loss of checked-in baggage
    • Dental treatment
    • Loss of passport
    • Delay of checked-in baggage
    • Personal accident
    • Personal liability
    • Hijack distress allowance
    • Financial emergency assistance
    • Travel delay
    • Missed connections
    • Golfers hole in one
    • Trip curtailment
    • Bail bond insurance
    • Trip cancellation and interruption

    Following are the travel insurance plans offered by the company –

    1. Shri Travel Policy

      Shri travel policy designed to provide basic overseas travel insurance coverage at a reasonable rate of premium. 

      Features of Shri Travel Policy

      • The plan offers basic travel insurance coverage at a lower rate of premium
      • The policy can be customised based on the need. The policy offers the two-tier premium facility, one for countries excluding USA and Canada and the other one is for all the countries across the world.

      Eligibility Criteria for Shri Travel Policy

      Entry age 

      90 days to 65 years

      Pre-entrance medical check-ups 

      Not required 

      Sum insured 

      Up to USD 50,000 

    2. Shri Travel Plus Policy

      Shri travel plus policy offered by Shriram General Insurance Company is a comprehensive plan that offers a wide range of coverage including various trip-related hassles such as trip cancellation, travel curtailment, bail bond, trip interruption and travel delay etc. 

      Features of Shri Travel Plus Policy

      • The plan offers a wide range of coverage at an attractive rate of premium
      • The policy can be customised based on individual travel need, the purpose of travel, travel frequency and number of days you are travelling

      Eligibility Criteria for Shri Travel Plus Policy

      Entry age 

      90 days to 65 years

      Pre-entrance medical check-ups 

      Not required 

      Sum insured 

      Up to USD 100,000 

    3. Shri Travel Elite Policy

      Shri Travel Elite policy offered by Shriram General Insurance Company is an ideal plan for customers seeking extensive coverage options in travel insurance plans. This is the highest range of travel insurance plan offered by Shriram General Insurance Company. Broader coverage offered by the plan includes medical expenses along with trip-related hassles such as trip cancellation, travel curtailment, trip interruption, travel delay, bail bond, and golfers hole in one etc.

      Features of Shri Travel Elite Policy

      • Plan can be customised based on the purpose of travel, travel frequency, travel destination and a number of days of travel etc.
      • Flexibility to choose the number of days for coverage

      Eligibility Criteria for Shri Travel Elite Policy

      Entry age 

      90 days to 65 years

      Pre-entrance medical check-ups 

      Not required 

      Sum insured 

      Up to USD 200,000 

  3. Shriram Personal Accident Insurance Policy

    Accidents are unexpected and can occur anywhere anytime. Be it a minor or major accident, it can result in an injury, disability or death. Personal accident insurance policy offered by Shriram General Insurance Company offers complete protection against these accidents resulting in death or disability. However, compensation may vary depending on the severity of an injury or disability.

    Features of Shriram Personal Accident Insurance Policy

    • The policy covers accidental death, permanent total disability, permanent partial disability, permanent partial disability and temporary total disability
    • Additional benefits offered by the policy include transportation of mortal remains and children’s education benefit
    • The policy also offers additional optional riders to enhance the coverage such as accidental hospitalisation cover, hospital confinement allowance, modification of residential accommodation and vehicle and medical expense reimbursement
    • The plan comes in four different variants – basic plan, basic plus plan, advance plan and comprehensive plan, which can be chosen based on the requirement.

    Eligibility Criteria for Shriram Personal Accident Insurance Policy

    Entry age

    1 year to 70 years

    Maximum renewal age

    70 years

    Pre-entrance medical check-ups

    No medical check-ups required

    Sum insured

    Not more than 60 months of income or salary from the present occupation

  4. Shriram Home Insurance Policy

    Shriram General Insurance Company offers dwelling insurance coverage for homeowners that basically cover the structure of your home along with specific perils that can damage your property. Under this policy, along with home, a structure that are not directly attached to your home can also be covered. The policy offers coverage against various perils such as fire, explosion/implosion, lightning, aircraft damage, riots, strike and malicious damage, cyclone, storm, tempest, typhoon, tornado, flood, inundation, subsidence, landslide, rockslide, bush fire and missile testing operations etc.

  5. Shriram Marine Insurance Policy

    The cargo insurance policy offered by Shriram General Insurance Company provides coverage against loss or damage to cargo during transit from one place to another by various modes of transit. There are various types of coverage offered which allows you to customise your policy based on the need and nature of business. Following are the type of cover offered –

    • Shriram General Inland cargo insurance
    • Shriram General Export cargo insurance
    • Shriram General Import cargo insurance
  6. Shriram Fire insurance Policy

    Shriram General Insurance Company offers various types of fire insurance policies to safeguard your business and assets against various perils. Every plan comes with various amazing features and add-on to enhance and customise the coverage. Following are the plans offered by the company –

    • Standard fire and special perils policy
    • Industrial all-risk policy 
    • Fire loss or profit policy
  7. Shriram Liability Insurance Policy

    Liability insurance policies are essential for every business to run smoothly towards success. Shriram General Insurance Company offers a variety of liability insurance products to safeguard your business against various liability claims that arise due to losses or damages caused by your business in anyways. 

    Following are the types of liability insurance plans offered by the company –

    • Professional indemnity for doctors and other than doctors
    • Errors and omissions for medical establishments
    • Commercial general liability insurance
    • Public liability insurance – non-industrial
    • Public liability –Act
    • Product liability insurance
    • Workmen compensation insurance
  8. Shriram Engineering Insurance Policy

    Shriram General Insurance Company offers various types of engineering insurance policies that safeguard your business from a wide range of engineering-related risks. Risks covered by policies include risks related to erection, resting and working of any plant and machinery. Following are the various engineering insurance policies offered by the company –

    • Shriram General Contractors all-risk insurance policy
    • Shriram General Electronic equipment insurance policy
    • Shriram General Erection all risk insurance policy
    • Shriram General Machinery breakdown insurance policy
    • Shriram General Contractor’s plant and machinery insurance
    • Shriram General Boiler and pressure plant insurance policy
  9. Shri Suraksha Insurance Policy

    Shri Suraksha policy is designed to provide financial protection to vehicle owners or persons engaged in operation and maintenance of vehicles and their family members against personal accident risks and fire and allied risk cover against the residential building and its contents.

  10. Shriram Householder’s Umbrella Package Insurance Policy

    Householder’s umbrella package insurance policy is a comprehensive package offered by Shriram General Insurance Company to the householders. The coverage combination includes Fire and allied perils, burglary content, video equipment, personal accident and loss of cash etc 

  11. Shriram Shopkeeper Umbrella Package Insurance Policy

    Shopkeeper umbrella package insurance policy offered by Shriram General Insurance Company is a comprehensive plan to cater to each insurance needs of shop-keepers. The coverage combination includes fire and allied perils, burglary, personal accident, money insurance and fidelity guarantee.

  12. Shriram Fidelity Guarantee Policy

    Fidelity guarantee policy offered by Shriram General Insurance Company is specifically designed for corporates, firms and individuals who carry on commercial activities that expose them to the various risk of liabilities during an act of dishonesty or fault committed by the employees of insured.

  13. Shriram Burglary Insurance Policy

    Burglary insurance offered by Shriram General Insurance Company is designed to provide coverage against loss or damage caused to the property contained in the premises due to burglary or housebreaking. The policy also offers add-on covers such as theft in the premises, purchase protection coverage and fidelity guarantee coverage which are optional to enhance the cover.

  14. Shriram All Risks Insurance Policy

    All risk insurance policy offered by Shriram General Insurance Company covers the loss or damage to insured’s property by fire, theft, accident, riot and strike or any of which arising from any fortuitous cause to portable equipment while in transit, storage or use. The policy provides flexibility to choose the coverage on a geographical basis – India only cover or worldwide cover

  15. Shriram Business Protector Policy

    Business protector policy offered by Shriram General Insurance Company is a comprehensive and customisable insurance policy that is specifically designed for small businesses, hotels, restaurants and office establishments. The policy allows you to choose the cover and customise the policy based on business need. Various sections covered in the policy are fire and allied perils, burglary and housebreaking, neon sign and glow sign, machinery breakdown, portable equipment, electronic equipment, money insurance, public liability, baggage insurance, fidelity guarantee and personal accident.

  16. Pradhan Mantri Fasal Bima Yojana

    Pradhan Mantri Fasal Bima Yojana was introduced by the Government of India in order to reduce agricultural distress and for farmer’s welfare. The plan is offered by the Shriram General Insurance Company as a rural insurance product.

Premium calculator for Shriram General Insurance Plans

The premium for Shriram General Insurance plans can be calculated quickly and instantly by using the online premium calculator available on their website. For various general insurance plans like motor, travel and personal accident insurance plans offered by Shriram General Insurance Company, you can get the quotes instantly by inputting some basic details into the premium calculator. All that you need to provide is your personal details and coverage requirements. For example, to calculate motor insurance premium provide your name, contact details, make and model of the vehicle, year of manufacturing etc along with coverage requirement. Online premium calculator instantly calculates the exact premium amount for your inputs. You can change the details of your requirement for recalculation of premium.

How to Buy Shriram General Insurance Company’s Insurance Plans?

You can purchase insurance plans of Shriram General Insurance Company via both online and offline mode. Offline plans are sold by the insurance company directly at the branch offices or can even be purchased through insurance advisors.

All the motor and travel plans offered by the company can be bought easily on an online platform. These plans are sold on the Website of Shriram General Insurance Company with simple buying processes to follow.

However, the easiest approach for buying would be Turtlemint platform wherein you can compare various car and bike insurance plans and buy the best suitable plan offered by Shriram General Insurance Company. Following is the simple process to buy motor insurance plans of Shriram General Insurance Company online through Turtlemint –

  1. Go to Turtlemint and choose the category of insurance plan that you would want to purchase
  2. To buy a motor insurance plan, you need to enter the vehicle number or you can continue without vehicle number. Following details would need to be entered –
    • Make and model
    • Manufacturing year
    • Fuel type
    • Variant
    • Expiry date
    • Previous policy type
    • Details of previous claims
    • No claim bonus on previous policy
    • The insurer of previous policy
    • Contact information
  3. After providing details, a list of the best motor insurance plans available in the market are displayed
  4. You can compare and choose the best suitable car or bike insurance plan for you
  5. Once you choose the plan, you need to fill in the online application form
  6. Pay premium online through the mode of payment available
  7. Once the premium payment is made, you would be able to buy the plan easily

The Renewal Process for Insurance Plans of Shriram General Insurance Company

Renewing the insurance plans of Shriram General Insurance Company is a convenient and simple process. Following are the steps for renewing the policy online through the company’s website –

  1. Log on to company’s website and click on ‘quick renewal’ option in the top right corner of the home page
  2. Provide your policy details and pay the premium online. Once the payment is done policy would be renewed.

Car and bike insurance policies of Shriram General Insurance Company can also be renewed through Turtlemint online. If you have purchased a policy through Turtlemint, you would be having user credentials which were provided at the time of registration. Log in with your user details and access the existing policy details on the portal. Click on the ‘renew’ option and pay the renewal premium. Your policy would be renewed easily.

Claim Process for Plans of Shriram General Insurance Company

Shriram General Insurance Company aims to provide ethically, promptly and equitable settlement of claims. The company follows a quick and hassle-free claim settlement process. The process flow is different for each category of the product offered by Shriram General Insurance Company. Let’s take a look at the claim process for motor insurance plans of the company.

Motor Insurance Claim Process

With the wide network of cashless garages, motor insurance claim of Shriram General Insurance Company are processed and settled quickly without any hassles. Following is the simple process to follow –

  1. Make claim intimation to the company immediately on the occurrence of an insured event. You can call upon toll-free number or visit their website or alternatively branch offices making claim intimation. Online is the easiest way as you need to just need to submit policy number along with registration number/engine number/chassis number
  2. File First Information Report (F.I.R) with the nearest police department immediately in case of theft and third-party liability claims
  3. Take the vehicle to nearest preferred network garage to avail cashless facility. Information can be obtained from the company website.
  4. Surveyor will be appointed by the company to estimate the cost. Submit all the documents to surveyor appointed by the insurer. 
  5. Surveyor will submit the repair cost estimation report to the company based on which company will consider the claim for approval.
  6. Payment of claims will be directly made to the network garage.
  7. In case of reimbursement, submit all final bills or cash memos to the insurer to get the claim amount reimbursed

Documents Required for Motor Insurance Claims of Shriram General Insurance Company

Following are the documents required for motor insurance claims of the company –

  1. Duly filled and signed claim form
  2. Motor insurance policy with schedule and endorsement/clause
  3. Driving license
  4. Registration Certificate copy
  5. Police First Information Report, if any
  6. Fitness certificate, in case of commercial vehicles

For any other queries, you can contact Turtlemint support team on 1800-266-0101 or Shriram General Insurance Company

Company Address and Contact Information – Shriram General Insurance Company

Company Address – Shriram General Insurance Company Limited, E-8, EPIP, RIICO Industrial Area, Sitapura, Jaipur – 302022 (Rajasthan)

Toll-free number – 1800-300-30000, 1800 -103-3009

Fax – 0141 -2770692, 2770693


FAQ’s

Premiums for Insurance plans of Shriram General Insurance Company can be paid using both online and offline modes. Following are the online payment modes available –

  • Net banking
  • Credit card
  • Debit card

However, payment can also be done offline through the below ways –

  • Cash
  • Demand draft/Cheque
  • Through insurance agents/brokers of Shriram General Insurance Company

No claim bonus is the benefit offered by the insurance company to the policyholders who are maintaining ‘no claim’ records during the policy year. No claim bonus can be accumulated for each claim-free year up to a maximum of 50%. A single claim can bring down your accumulated no claim bonus to zero. With this benefit, you can avail a discount on the premium. Following is the NCB chart –

Claim free years

No claim bonus discount

End of a first claim-free year

20%

End of a second claim free year

25%

End of a third claim-free year

35%

End of a fourth claim-free year

45%

End of a fifth claim-free year

50%


Depreciation of the insured car refers to the devaluation of the car as its age. Parts of your car made of glass, plastic and metal has different depreciation values. Whenever you make a claim in your Shriram Car Insurance Policy for, you will be compensated with the reduced value after factoring the depreciation value of the parts. If you opt for ‘zero depreciation cover’, you can recover the entire expense incurred without deduction of depreciation.


Generally, when you make ‘total loss’ claim in a car insurance policy, you will not be able to recover the invoice value of your car. However, if you opt for ‘return to invoice’ add-on, you can get the benefit of the invoice value of your car along with the registration fee, insurance and road tax.


In case your car’s key is lost, you will have the benefit of getting another key at insurer’s cost in case you have opted for ‘key replacement’ add-on.


No Claim Bonus (NCB) is a key feature or benefit offered by car insurance policies. This is a reward given to policyholder for driving safe and for not making any claims during the policy year. The benefit can be accumulated over the years up to a maximum of 50% which allows you to reduce the premium of car insurance to the same extent. Your one mistake can bring down the benefit to zero. If you avail ‘NCB protection cover’, you can protect the benefit.


If you have more than one car, ‘multi-car rebate’ will extend the add-ons like zero depreciation, key replacement and personal belongings benefit to the car or cars at applicable rates and condition on renewal of Shriram Car Insurance Policy.


Insured Declared Value is nothing but the current market value of your vehicle insured after deducting the depreciation value of various parts of the vehicle. The rate of depreciation is defined in the schedule depending on the age of the vehicle. Following is the rate at which depreciation is deducted from current market value to arrive at Insured Declared Value.

Age of the vehicle

Percentage of depreciation

Not exceeding 6 months

5%

Exceeding 6 months but not exceeding 1 year

15%

Exceeding 1 year but not exceeding 2 years

20%

Exceeding 2 years but not exceeding 3 years

30%

Exceeding 3 years but not exceeding 4 years

40%

Exceeding 4 years but not exceeding 5 years

50%

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