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.
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 –
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 –
Let’s understand each plan offered by the company under each product category.
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 –
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-
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 –
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.
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 –
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
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
Features of Shriram Commercial Vehicle Insurance
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 –
Following are the travel insurance plans offered by the company –
Shri travel policy designed to provide basic overseas travel insurance coverage at a reasonable rate of premium.
Features of Shri Travel Policy
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 |
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
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 |
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
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 |
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
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 |
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.
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 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 –
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 –
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 –
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.
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
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.
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.
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.
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
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.
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.
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.
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 –
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 –
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.
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 –
Following are the documents required for motor insurance claims of the company –
For any other queries, you can contact Turtlemint support team on 1800-266-0101 or 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
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 –
However, payment can also be done offline through the below ways –
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% |