Shriram bike insurance is one of the best bike insurance plans available. The company has offered outstanding packages for avid cyclists for over a decade. This article will highlight some of the top benefits of this coverage. Most notably how it can protect you from claims filed by third parties such as motorists or pedestrians”.
Shriram bike insurance is one of the best bicycle insurance plans available. The company has been offering outstanding packages for avid cyclists for over a decade. And this article will highlight some of the top benefits. Such as how it can protect you from claims filed by third parties such as motorists or pedestrians.
What is Shriram bike insurance?
Shriram bike insurance is a unique motorcycle-centric insurance policy. That provides a comprehensive set of coverage options. Including first-party property damage liability, personal accident cover, third-party liability, and vehicle theft protection.
The premium rates vary depending on the make of the motorcycle, type of ownership (new or used), and your region. The different plans offered by Shriram bike insurance help you choose an appropriate plan based on your needs.
What are important things to consider before buying Shriram insurance?
When considering buying Shriram bike insurance. It is useful to evaluate your own riding habits to determine whether you need more comprehensive protection for high-value bikes. Or can afford cheaper basic coverage for a lower-value motorcycle.
There are additional things to consider too. For example, if you have had a motorcycle accident in the past, this could impact your premiums. You could also be subject to a “second-hand premium” if you opt for a used motorcycle.
What are the key features of Shriram insurance?
Shriram bike insurance offers you maximum protection by providing different plans to choose from. Each plan has been designed keeping in mind that different roads require different kinds of protection. For example, there are two options for comprehensive coverage: Standard Comprehensive Plan and Gold Comprehensive Plan. Similarly, it offers two kinds of third-party liability coverage. VIP Plan and Platinum Plan depend on the risk factors associated with your bike and your driving history.
Benefits of Shriram insurance
Shriram bike insurance has many benefits, but here are some of the most important:
- You can get a 50% discount on premium if you have a regular annual income.
- You can get a 10% discount on premium if you take comprehensive cover and third-party cover for your motorcycle.
- There you can enjoy a 20% discount on renewal premiums. If you have completed three years since your purchase date. Under the standard comprehensive plan or five years for other plans. Make sure to renew your policy before it lapses to avail of this benefit.
- You can get a 10% discount on renewal premiums if you have completed six months. Since your purchase date under the standard comprehensive plan or 12 months for other plans.
- You can save money by finding the best package that suits your needs. And spending less than if you bought individual policies.
- There you can get a free rental bike when you purchase a fully comprehensive cover for a motorcycle.
- You can avail yourself of insurance coverage with Shriram bike insurance. At any time and anywhere in the world by using your mobile phone or a laptop. To earn Shriram points for each claim made online. Using any of the online forms provided on their website.
- You can get a free personal accident insurance plan for your family. If you are registered for the total income protection plan for two years.
- There you can get additional discounts of 25-50% on third-party liability coverage. If you take it as an add-on to your existing policy, depending on the discount that you are eligible for.
- If you have purchased a policy before. Then you can avail competitive renewal premiums. When you renew by transferring the amount from your previous policy to your new one.
- You get a maximum of 50% discount on renewal premiums if you have completed six months. Since your purchase date, for the standard and gold comprehensive plans, and 12 months for other plans.
Some Major benefits
- You can avail of accidental replacement cover from a few weeks to 90 days from the date of an accident. When you buy a new bike or renew your policy. If it is stolen within 90 days from the date of the policy purchase. Then you will still get accidental insurance cover up to 30 days from the date of theft.
- You can claim bonus Shriram points when you share your experience with the quality and service. That Shriram Bike Insurance provides through their website or through any other medium like SMS, email, etc.
- You can get a 10 percent discount on your premium if you are making an annual income of Rs. 5 lakhs or more.
- You can get a further 15% discount if you take comprehensive cover. Third-party liability and vehicle theft cover under the same policy.
- You can save money by opting for one of the Gold, Gold Plus, and Platinum plans. To get higher value services from our team of experts.
- With over 50 years of experience under its belt in the Indian Motorcycle industry. Shriram is considered India’s leading insurer. That offers excellent service. And will provide timely claims settlement to customers as well as hassle-free claims handling.
- Although cashless services are a great thing to have. If you are from a remote area or traveling out of town or country. There is no option for you to use the cashless facilities available at Shriram Bike Insurance’s network of agents. You will have to settle your claims offline.
- You cannot buy bike insurance online. To purchase a policy and make claims. You will need to visit one of their dealerships or agent locations. After you have received their policy proposal in the mail.
- There is no mature rider plan available with Shriram bike insurance. I did not find a mature rider plan that was more suitable for the bike I purchased.
- There are no plans available at all for some of the motorcycles. That I have purchased such as the Royal Enfield Bullet 500 and Royal Enfield Thunderbird 500. So, you can forget about these bikes as your policy will not cover them at all. If you are planning to buy one of these bikes. You will have to get separate third-party liability cover for it.
- The options for discounts on premiums. When buying a motorcycle or renewing a policy is limit and does not suit everyone’s needs. With the exception of the annual income limit, there is no other discount available under Shriram insurance.