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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
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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.
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Your insurance policy is up for renewal.
Please renew your Insurance now for trouble-free driving.
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IRDAI Consumer Education:- Insurance is the subject matter of solicitation. IRDAI Registration Number - 137. CIN No. U66010RJ2006PLC029979. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
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