Shriram General Insurance’s Two Wheeler Insurance Policy aims to protect you from the financial loss incurred to get your vehicle repaired or replaced in the eventuality of damage/theft. Besides above it also protects against the mandatory third party liability. Moreover, availability of enhanced protections through nil depreciation is also available.
Features & Benefits
Following are some of the key features & benefits of Shriram General’sTwo Wheeler Insurance Policy:
- Availability of best covers on low premiums.
- Hassle-free cashless claim service at preferred network garages.
- Speedy Claim settlement.
- No Claim Bonus: If you do not make an OD claim during the policy period a No Claim Bonus is offered on renewals.
- Transfer of existing No Claim Bonus from any insurance provider.
- Track claim status online.
What does the Shriram Policy Cover?
- Loss or damage to your vehicle: The policy covers you against any loss or damage caused to the vehicle due to the following natural and man made calamities.
- Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
- Man made Calamities – Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
- Third Party Liability: Unlimited coverage i.e. whatever the court awards as your liability to the “Third Party” due to accidental death or injuries caused by your vehicle will be met by Shriram General Insurance Company Ltd.
- Property Liability: In case of your vehicle causing “Third Party” property damage, Shriram General Insurance Company will offer to compensation up to Rs. 100,000/-.
What does the Shriram Policy not Cover?
- Accidental loss or damage suffered whilst the insured or any person driving with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs
- Accidental loss or damage caused due to Willful Negligence
- Loss or Liability while the vehicle is used outside the scope of limitations of use and / or being driven by a person not duly licensed.
- Consequential loss, depreciation, wear & tear, mechanical and electrical breakdown/failure or breakages
- Loss connected to nuclear or radioactivity or nuclear weapons
- Loss connected with war and related activities
- Policy deductibles: The first amount of each and every claim which you should bear. You can choose this amount as per the limits. The higher limit you choose, the greater the discount on the premium.
Additional Features:
- To further protect you and your near and dear ones commuting in the vehicle with you, we offer a range of value added extensions to your Motor Insurance Policy at a nominal additional premium.
- Good feature discount
- Electrical & Electronic Accessories: Your electrical & electronic accessories like music players, seat covers, LCD mini TV, fog lights, etc can also be covered.
- Personal Accident: You can avail of this cover for yourself (as the insured), for the driver of your vehicle (in case you have a paid driver) and unnamed passengers as per the seating capacity of the vehicle. Unnamed passengers can include your spouse, children, parents, etc. The Personal Accident cover is available from Rs. 10,000/- to a maximum of Rs. 200,000/- (in multiples of Rs. 10,000/-)
Sum Insured
The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the erstwhile Indian Motor Tariff.
Premium Computation
The insurance premium for your vehicle depends on the cubic capacity of the engine, the carrying capacity or the gross weight of the vehicle, the age, place of registration and the IDV (Insured Declared Value).
Claim Service:
1. We will take 24X7 claim notification service
2. Timely customer contact and assistance
3. Survey and assistance within a day
4. We shall ensure that quality of claim settlement and customer satisfaction are taken care of in each and every step of claim settlement.
5. Simple Claims Procedure – Hallmark of our corporate philosophy and approach.
6. Claimant can know his claim status at any time from us.
