Types of Shriram Car Insurance

Add-ons can be purchased with a standalone OD and comprehensive car insurance policy at any time during the policy period. Adding new coverage may require an inspection of your vehicle. You need to initiate an endorsement to include add-ons. Kindly send us an email or call our toll-free number. For additional coverage, you may need to pay an additional fee

• Voluntary Deductibles: The voluntary deductible is part of the claim amount that the policyholder pays before the claim is submitted to the insurer. It is beyond the compulsory deductible set by the IRDAI. A voluntary deductible allows an insured to save money on their insurance premiums
• Automobile Association Discount: An insured will receive certain benefits on OD premium for your valid membership of recognized Automobile Associations such as the Automobile Association of Eastern India, the Uttar Pradesh Automobile Association, the Western India Automobile Association, Automobile Association of Southern India and the Automobile Association of Upper India
• Installing Anti-Theft Devices: If your car is fitted with anti-theft devices approved by the Automobile Research Association of India (ARAI), Pune and whose installation is duly certified by any authorized Automobile Associations, will give you an opportunity to save on the OD premium

Own Damage (OD) cover is a type of car insurance coverage that provides coverage for the insured vehicle's own damage or loss due to events such as accidents, theft, fire, natural disasters, vandalism, and malicious acts. The OD cover can be purchased as a standalone policy or as part of a comprehensive insurance policy that includes the third-party policy and OD cover.

The term third-party liability in car insurance in India refers to your legal and financial responsibility for any damage your vehicle causes to a third party. According to the Motor Vehicles Act of 1988, it is mandatory and provides coverage for an accident, death, or property damage to a third party.

Own damage insurance usually has a one-year validity period, after which it must be renewed.

Comprehensive car insurance covers damage to the policyholder's own vehicle and third-party liability. In third-party liability insurance, only damages and injuries are covered to other people or their property. Third-party insurance is mandatory in India, but comprehensive insurance is optional.

Comprehensive car insurance covers both third-party liability and vehicle damage, including natural disasters and thefts. A policyholder with own-damage insurance covers damages to their own vehicle caused by fire, theft, or natural disasters.

A policyholder's own-damage car insurance covers damage to their own vehicle caused by accidents, fire, theft, or natural disasters. Insurance that covers all repair costs and replacements without considering the depreciation value of the car is known as zero depreciation insurance. Indian insurance companies offer it as an add-on to their own-damage policies.

A comprehensive car insurance policy provides a broader range of coverage than a third-party liability policy. A policyholder is covered for damages to their own vehicle as well as for third-party liability, including natural disasters, theft, fire, riots, and accidents.