Shriram General Insurance

              Shriram General Insurance is a leading general insurance company in india offering insurance plans that suits your requirement at an affordable price range. Visit us at www.shriramgi.com         

[shriramgeneralinsurance]

What is NCB Retention & How to obtain it?

What is NCB

No claim bonus is a reward given to an insured for a successful claim free year.

It is 20, 25, 35, 45 & 50% from 1 year to 5 consecutive years, and if you continue for years, it remains 50% for all upcoming renewals. 

What is NCB retention?

NCB is earn by an individual and not by a vehicle, so it is not transferable in case you’re selling your vehicle.

And most of the cases, it got lapsed as you are not aware that NCB can be retain with the owner for three years and it can be availed when you purchase a new vehicle. 

How you can save money by obtaining your NCB:

NCB gives you upto 50% discount on your vehicle’s insurance renewal. So every year you renews your vehicle policy, you will be rewarded by NCB for a successful claim free year. 

How to obtain your NCB certificate from your insurer?

In case you are selling your vehicle and you have NCB with your current policy, then you can request your insurer to cancel or transfer the policy to buyer and provide a NCB certificate to you.

Documents to submit to get a NCB certificate.

·         RC Copy

·         Policy Document

·         Form 28 & 29

·         Delivery Note

By submitting these docs you can ask your insurer to provide your NCB certificate, and it will be valid for 3 years from the date of issuance.

[shriramgeneralinsurance]

Shriram General Insurance expects Rs 750 cr underwriting profit this year - SGI

New Delhi: The Chennai-based Shriram Group firm has closed H1 of the fiscal with around Rs 800 crore in premium income and expects it to nearly treble in the second half on the back of the better-than-expected economic recovery, says Anil Aggarwal, the managing director & chief executive of Shriram General that was the first … Continue reading Shriram General Insurance expects Rs 750 cr underwriting profit this year →

[shriramgeneralinsurance]

5 tips to drive a car in traffic

A country like India has a different kind of people who drive in different manners on the road. Everyone is in rush to reach their destin...

[shriramgeneralinsurance]

Teflon vs ceramic coating for car, which is better

We know you love your car so much, it's part of your personality. It would be like heartbreak to see even a single scratch or minor scuff on it. So, how you are going to protect it? There are two things that help protect your car Teflon and Ceramic coating. Let's understand both the protective layers and their types. Also, how much benefit they are for your vehicle.What is Teflon coating?Teflon co

[shriramgeneralinsurance]

What is a loyalty discount?

It is basically granted to the regular or loyal customers who are being associated for the long term with the insurer. Those who renew car insurance from the same company without switching to another for a certain number of years get loyalty points. It can be of many types such as in the form of coupon codes, direct offers, add-on facilities or some free services. Earning loyalty points or discount somewhere supports you financially. Which is a great initiative by the insurance companies. How does it work? …

[shriramgeneralinsurance]

We buy car insurance to protect our vehicles from uncertainties like theft. And, it is suggested to get a comprehensive car insurance coverage policy than a third party for more coverage. If your vehi

[shriramgeneralinsurance]

What is the procedure to update nominee on train journey insurance policy by SGI

The procedure for nominee update is quite hassle-free and quick with SGI. Every journey of yours must be protected from uncertainties while travelling. And, that's why to secure your train journey...

[shriramgeneralinsurance]

What is break-in period in car insurance?

Before getting to know about the break-in period in car insurance, you must know the importance of buying car insurance in India. It is mandatory to buy car insurance as per the Motor Vehicle Act,...

[shriramgeneralinsurance]

What is break-in period in car insurance?

Before getting to know about the break-in period in car insurance, you must know the importance of buying car insurance in India. It is mandatory to buy car insurance as per the Motor Vehicle Act, 1988. And, should be followed by the annual renewal timely. But, if you can't renew your car insurance on time then it can lead to a policy break-in.  

The break-in period is the time between the last date for renewal of car insurance and the date on the policy is renewed. For example, the renewal date of your policy is March 1st and the renewal is done on March 30th. This gap of 30 days will be called the break-in period. And, during that time your motor insurance policy is inactive. Without an active insurance policy, you are not allowed to take your vehicle out as it can be rule-breaking or unethical.

What happens during the break-in period?

To fix this break-in, most insurance companies provide a grace period of 90 days within which one can renew a car insurance policy. Basically, this 90 days is the maximum allowed break-in period.  And, once the 90 days are gone you will lose the accumulated benefits such as NCB. You have to start everything from the beginning as the policy will lapse. Your vehicle will have to go through the re-inspection to set the IDV. After the break-in period, you have to purchase a new policy.

In final words, basically you got an idea about what break-in policy is and what happens during this.

[shriramgeneralinsurance]

What are compulsory deductible and voluntary deductible in bike insurance?

It is important to understandwhat deductibles mean for you and your policy if you want bike insurance. Also,to understand how it impacts your policy, you must be familiar with de

[shriramgeneralinsurance]

What is claim settlement ratio for insurance companies?

Claim settlement is the number of claims paid by an insurance company filed in a year. If an insurer holds a higher claim ratio means they have settled a higher number of claims. And, the company w…

[shriramgeneralinsurance]

10 Reasons Why Bike Insurance Claims Get Rejected

Bike insurance is mandatory to buy in India as per the Motor Vehicle Act, 1988. Every vehicle owner has to follow this legal norm without...

[shriramgeneralinsurance]

What is the difference between ex-showroom price and on road price of a vehicle?

Purchasing your favourite car or bike can be a big decision and need a better financial plan. Vehicles are the most important part along with other essentials and help you move from one place to...

[shriramgeneralinsurance]

What is the difference between ex-showroom price and on road price of a vehicle?

Purchasing your favourite car or bike can be a big decision and need a better financial plan. Vehicles are the most important part along with other essentials and help you move from one place to another whenever and wherever you want. And, that's when you come across the difference between ex-showroom price and the price of the on-road price of a vehicle.

What is the ex-showroom price?

The ex-showroom prices refer to the price or cost of a vehicle without the charges that included registration of the vehicle to the regional transport office (RTO), road tax, and insurance. Without these, you can't take your vehicle for a ride or drive. The price of ex-showroom includes ex-factory cost, goods and services tax and the profit margin of dealers. And, this is the only price on which you can see advertisements of the vehicles through various media.

What is the on-road price of a vehicle?

Before taking the vehicle out of the showroom, there are charges that are being added to the vehicle such as RTO, road tax, car insurance and other charges if applicable that may be optional or not. This makes you eligible to go on-road with your new vehicle. And, this is called the on-road price of a vehicle. When you search vehicle's price online they show both the slabs. So, if you are going to buy one, consulting with a dealer would be beneficial.

In final words, with the above brief, you have got an idea about the difference between x-showroom price and on-road price of a vehicle.

[shriramgeneralinsurance]

What is the role of an Actuary in the Insurance industry?

The insurance industry is playing a vital role in maintaining the economic growth of India. However, the insurance industry is broadly based on the degree of risk they undertake and the revenue they generate from it. That's the reason the company needs personnel who knows how to analyse the risks and returns related to each proposal they get. Here's when the role of an actuary in the insurance ind

[shriramgeneralinsurance]

What is a green tax? The increasing pollution level is becoming a major concern for people today. Therefore, to curb these situations, a green tax is being imposed on old vehicles. Green tax is called pollution tax or environment tax which is imposed on old vehicles that can create pollution. The smog emits from vehicles spread increases the pollution level in the environment. This can raise several airborne diseases like lung infection, skin irritation and more. Hence, if someone doesn't follow this, they…

[shriramgeneralinsurance]

What Are High-Security Registration Plate Guidelines? ShriramGI

The High-security registration plate is a number plate made of aluminium that comes with two non-reusable locks and is tamper-proof.

People who use their vehicle without high-security registration plates (HSRP) are liable to pay hefty fines as per the government. And, to curb such cases, the traffic police are getting stricter with the fines. However, the High-Security Number Plate rule is mandatory only in Delhi, Himachal Pradesh and UP. Gradually it may be followed by other states too. Therefore, it’s better to install high-security registration plates than to pay a hefty fine.