Shriram Private Car Package Policy

Under this add-on, the company will pay the amount of depreciation deducted on the value of the parts replaced for own damage claim lodged under section 1 of the motor package policy.

Specific Conditions:

1. Vehicle is not more than 5 years old from the date of purchase or date of registration, whichever is earlier at the start of period of insurance.
2. There are not more than 2 claims during the period of insurance.
3. Vehicle is repaired at any of our Authorised Garage.

Under this add-on, the company will pay daily expense reimbursement to enable the insured to meet the cost of hired transport to reduce inconvenience, if the insured vehicle is damaged by a peril covered and mentioned in section 1 (Own Damage) of the Motor Package Policy.

The expense reimbursement would be payable for a maximum period of 15 days during the period of insurance. In case of theft/total loss claim, the company will pay for maximum 30 days during the period of insurance.

Reasonable time taken for repair in respect of damages not admissible under section 1 (Own Damage) of the policy (as agreed between insured, surveyor & garage workshop manager) would be excluded for the purpose of computation of Daily reimbursement.

Entitlement of Daily reimbursement will start from the following calendar day of insured Vehicle reaching the garage for repair and shall end on the day garage intimates to take delivery of the insured Vehicle.

Specific Exclusions:

The Daily reimbursement will not be payable if any or all of the following condition applies:

1. If the claim is made only for windscreen or glass damage under section 1 of the policy.
2. If insured vehicle is not repaired at the Authorised Garage.
3. If claim under section 1 is not valid and admissible.
4. If time required for repair of motor vehicle is up to 3 days i.e. this cover would operate with a franchise of 3 days.

Under this add-on, the company will pay the difference between the insured declared value (IDV) as mentioned on the policy and the purchase price of the Vehicle as confirmed in the invoice of sale in the event of insured vehicle being a Total Loss / Constructive Total Loss following an accident or stolen during the period of insurance and not recovered. The company will also reimburse the first time registration charges and road tax which had incurred on the insured Vehicle.

Special Conditions:

1. This add-on can be opted if the insured vehicle is not more than 1 year old from the date of invoice / date of registration, whichever is earlier on the commencement date of the policy.
2. Insured should be the first registered owner of the motor vehicle.
3. Maximum liability is restricted to the sum insured as stated in the schedule.
4. The finance company/bank whose interest is endorsed on the policy must agree in writing.

Specific Exclusions:

The company will not pay the difference if:

1. The Total Loss / Constructive Total Loss and theft claim is not valid and admissible under section 1 of the policy.
2. Any non-built in electrical/electronic and non-electrical/electronic accessories including bi-fuel kit forming part of the invoice but not insured under section 1 (Own Damage) of the Motor Package Policy.
3. Stolen vehicle is recovered within 90 days of theft unless Final Investigation Report is submitted.
4. Final investigation report in case of theft claim is not issued by Police authorities and is submitted to the company.
5. Covered vehicle is imported.

Under this add-on, a claim for only Glass / plastic / rubber / fiber part where the insured opt for repairs rather than replacement, at company’s authorized workshop, will not affect insured’s No Claim Bonus eligibility at the time of renewal with the company if there is no other claim for damage to the Insured vehicle during the period of insurance.

Under this add-on, the company will pay for the loss or damage to the insured and his Family member’s personal belongings caused by perils mentioned under section 1 (Own Damage) of the motor package policy while they are in the Insured vehicle at the time of loss or damage to the Insured vehicle.

Personal belongings for the purpose of this section means items such as clothes and other articles of personal nature likely to be worn, used or carried and includes audio/video tapes, CDs but excludes money, securities, cheques, bank drafts, credit or debit cards, jewelry, lens, glasses, travel tickets, watches, valuables, manuscripts, paintings and items of similar nature. Any goods or samples carried in connection with any trade or business is not covered.

A police report must be filed for claims due to burglary, house-breaking or theft.

Any claim under this section will be admissible only when there is a valid and admissible claim in respect of the vehicle arising out of the same Accident.

The insured will bear first Rs.500 of each and every claim under this section.

Under this add-on, the company will pay towards the cost of overnight stay for one day and taxi charges for returning back to the place of residence or the nearest city the insured is traveling to if the insured vehicle has met with an accident outside the municipal limits by any of the peril mentioned under section 1 (Own Damage) of the motor package policy and cannot be driven. Documentary proof of expenditure must be submitted for any claim under this section.

Any claim under this section will be admissible only when there is a valid and admissible claim in respect of the Insured vehicle arising out of the same accident.

Under this add-on, the company will cover:

1. Key Replacement – The Company will reimburse for the cost of replacing insured vehicle keys which are Lost or Stolen. The covered cost is limited to the money insured paid to a locksmith to produce a new key.
2. Break-in Protection – The Company will reimburse for the cost of replacing locks and keys if the insured vehicle is broken into. The covered costs include the labor cost for replacing the lock.
3. Lock Out Reimbursement – The Company will reimburse for the cost of obtaining a locksmith if the insured is locked out of insured vehicle due to the loss or theft of keys.

I. Specific Exclusions :

The company will not pay for:
1. The cost to replace keys to vehicles that the customer does not own for personal use;

II. Specific Conditions :

For Break-in protection claims, the insured must provide an official police report that indicates the incident happened within the covered time frame in order for the company to pay the claim unless the insured is legally incapable of doing so.

Insured’s Obligations:

In the event of a covered loss:
1. The Insured should call the company on Claim helpline number or provide written intimation within 24 hrs. of discovering the loss to make a claim and obtain the proper forms and instructions;
2. Insured should file a police report within 24 hours of discovering a covered incident.
3. Insured should fill out and return any claims forms and accompanying documents including police reports (where necessary), receipts for replacing locks and/or keys, and any other documents the company may ask to provide;
4. The claims form and accompanying documents must be returned to the company within 3 days of making the original claim.

Under this add-on, the company will extend the add-on benefits to the insured’s additional car / cars at applicable rates & conditions on renewal with Shriram General Insurance Company Ltd.

• Depreciation deduction waiver
• Key replacement
• Personal belongings

Specific conditions:

1. The alternate private car / cars is insured with the company before expiry of the previous insurance cover
2. The alternate private car / cars is less than 5 years old ;
3. A maximum discount of 10% on the laid down rates would be allowable as a loyal customer.

An additional charge of Rs. 110/- is charged to extend the applicability of the coverage on renewal.