Top 10 Shriram Car Insurance Alternatives Online

The best car insurance will give you the cover you need as well as the price, saving a lot of time and money. We’ve given each policy a quality score based on their level of coverage in case you’ve got a big problem, and surveyed customers to find out how much they like it. ..Read More

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Top 10 Shriram Car Insurance Alternatives Online

We’ve also picked out policies that excel in specific categories like multi-car or for young drivers. That being said, it’s always a good idea to compare quotes from a range of providers to make sure you’re getting the right cover at the right price.

Insurance is a complicated industry with many variables and the cheapest company for one person might not be the cheapest for another. In general, it’s always worth shopping around for insurance rates. For instance, during the pandemic, the cost of insurance went down as people drove less and needed to insure less.

There are several factors you should consider when looking for car insurance; doing so will help you see past prices and better understand the true value that different providers can offer you. To make things easier for potential buyers, we've put together a list of our top Shriram car insurance alternatives. This way you can compare different offers and choose the one that suits you best.

  1. Oriental Car Insurance
  2. Navi Car Insurance
  3. Acko Car Insurance
  4. Edelweiss Car Insurance
  5. IFFCO TOKIO Car Insurance
  6. Raheja QBE Car Insurance
  7. Royal Sundaram Car Insurance
  8. SBI Car Insurance
  9. Universal Sompo Car Insurance
  10. Magma HDI Car Insurance.

Average car insurance rates vary depending on your driving record. Here, I have a table of what the most affordable company would be for each category of driver.

Companies Average Premium Third Party Liability Personal Accident Cover
Oriental 2238 Rs. 7.5 lakh Rs. 15 lakh
Navi 3778 Rs. 7.5 lakh Rs. 15 lakh
Acko 2848 Rs. 7.5 lakh Rs. 15 lakh
Edelweiss 2374 Rs. 15 lakh Rs. 7.5 lakh
IFFCO TOKIO 2848 Rs. 7.5 lakh Rs. 15 lakh
Raheja QBE 3948 Rs. 7.5 lakh Rs. 15 lakh
Royal Sundaram 2094 Rs. 7.5 lakh Rs. 15 lakh
SBI 2072 Rs. 7.5 lakh Rs. 15 lakh
Universal Sompo 4027 Rs. 7.5 lakh Rs. 15 lakh
Magma HDI 2349 Rs. 7.5 lakh Rs. 15 lakh

*The above mentioned values are for knowing the purpose, if want correct readings to compare quotes top of the page.*

Shriram Car Insurance:

What is it?

Shriram as the best car insurance for customizable premiums because of its Name Your Price tool, which allows drivers to shop for coverage according to their budget.

Advantages:-

  • 24x7 Hassle-free claim process
  • Survey and assistance within a day
  • Simple claim procedure
  • Updated claim status.

Disadvantages:-

  • Accidental loss or damage caused due to willful Negligence is not covered.
  • Damage due to nuclear or radioactivity or nuclear weapons, war, and related activities.
  • Consequential loss, depreciation, wears & tears mechanical and electrical breakdown/failure, or breakages are not covered.

Key Features:-

  • Claim Settlement Ratio: 79.43%
  • Cashless Garages: 2000+
  • Solvency ratio: 3.63
  • Branches: 3850+
  • Claims Settled: 2.08 Lakhs.
Get a Quote

Top Ways to Save Money on Your Car Insurance:

  • Find out if you're eligible for discounts
  • Check out the competition
  • Consider a higher deductible
  • Raise your car's deductibles
  • Get a good driver discount
  • Make sure you have collision and comprehensive coverage
  • Buy a newer car & Drive less often
  • Shop Around for the Best Discounts
  • Compare Quotes from Multiple Car Insurance Companies
  • Use Geolocation to Find Cheap Car Insurance Near You
  • Get an Auto Quote in Seconds by Uploading Your Driving Record
  • Get a Quote in simple way with PolicyBachat within 5 minutes.

Top 10 Alternatives & Competitors of Shriram Insurance:

Explore the best alternatives to Shriram for users who need new features or want to try different solutions. Other important factors to consider when researching alternatives to Shriram include reporting and price.

1. Oriental Car Insurance

What is it?

The company provides great and innovative products for its customers. Oriental Car Insurance Plans have been deliberated to gratify the need for protection cover for our cherished vehicle.

Advantages:-

  • Premium Discounts
  • Cashless repair facility
  • Excellent customer service.

Disadvantages:-

  • Mechanical or electrical breakdown, depreciation, wear and tear.
  • In the event of any loss or damage or liability which has happened beyond the geographic area as defined in the plan
  • For any loss or damage in case the vehicle is being driven by any third person other than a Driver as stated in the Driver’s clause.

Key Features:-

  • Claim Settlement Ratio: 81.83%
  • Cashless Garages: 2000+
  • Solvency ratio: 1.40
  • Branches: 1800+
  • Claims Settled: 18 Lakhs.
Get a Quote

3. Acko Car Insurance

What is it?

Acko General Insurance understands that car insurance is a simple and effective way to protect your car from unforeseen risks. Acko Car insurance saves costs, complies with the law, and stays hassle-free with ACKO’s online car insurance policy. Having good car insurance is a necessity to protect you from financial losses that come along with road accidents.

Advantages:-

  • 24x7 emergency assistance
  • A dedicated claims team
  • Claim approval within 7 days
  • 1 day pick up for repairs
  • 3 step door delivery at no cost.

Disadvantages:-

  • Accidents caused due to the owner-driver driving under the influence of alcohol.
  • Consequential damage that is not a direct result of accident/ natural calamity, etc. damage causes subsequent damage/loss, only the original damage will be covered.
  • Accidents caused due to Owner-driver driving without a valid license.
  • Damage due to the carelessness of the driver.

Key Features:-

  • Claim Settlement Ratio: 82.35%
  • Cashless Garages: 1300+
  • Solvency ratio: 1.91
  • Branches: 200+
  • Claims Settled: 10 Lakhs.
Get a Quote

4. Edelweiss Car Insurance

What is it?

Edelweiss offers decent car insurance rates for all car owners and many helpful add-on coverages. The level of complaints against it for car insurance is very low, making it a company to check out if you’re shopping for car insurance.

Advantages:-

  • Good customer support
  • Priority services at preferred workshops
  • Quick claim settlement.

Disadvantages:-

  • Any damage to your car in case of an accident
  • Any injury to passenger travelling in your car if you haven't taken the 'Personal Accident Cover
  • Depreciation or the drop in value, of your car and its parts due to age and wear and tear.

Key Features:-

  • Claim Settlement Ratio: 93.38%
  • Cashless Garages: 2000+
  • Solvency ratio: 2.09
  • Branches: 100+
  • Claims Settled: 20 Lakhs.
Get a Quote

5. IFFCO TOKIO Car Insurance

What is it?

The company has many optional offerings that can give you better insurance protection, making it a good choice to look at when comparison shopping.

Advantages:-

  • Instant digital copy of the policy
  • Quick and hassle-free claim settlement
  • On-road protector coverage
  • Surveyors for immediate claim initiation.

Disadvantages:-

  • Planned damage liability, breach of policy will lapse the policy
  • A normal course of mechanical and electrical breakdown, wear & tear, flat tires.
  • A driving vehicle without a valid driving license
  • Damage of tires without any accidental damage will claim you 50% of the damage cost.

Key Features:-

  • Claim Settlement Ratio: 84.04%
  • Cashless Garages: 4300+
  • Solvency ratio: 1.73
  • Branches: 200+
  • Claims Settled: 8.61 Lakhs.
Get a Quote

6. Raheja QBE Car Insurance

What is it?

Raheja QBE Insurance shines with its optional coverage options, its claims process and low level of complaints, which helps it overcome only average rates.

Advantages:-

  • Quick claim settlement process
  • Readily available customer support
  • Instant policy issuance and faster process.

Disadvantages:-

  • A claim arising out of the contractual liability is not covered
  • Damage caused by nuclear weapons material is not covered
  • A claim arising out of contractual liability.

Key Features:-

  • Claim Settlement Ratio: 100.51%
  • Cashless Garages: 1300+
  • Solvency ratio: 3.66
  • Branches: 100+
  • Claims Settled: 16 Lakhs.
Get a Quote

7. Royal Sundaram Car Insurance

What is it?

Royal Sundaram offers a superior selection of coverage options, from accident forgiveness to disappearing deductibles. It also has a track record for low car insurance complaints, which helps offset rates that are usually higher than its top competitors.

Advantages:-

  • Good and hassle-free pre-sales and post-sales services
  • Towing facility – spot repair services
  • On-time Services
  • 24x7 claim assistance.

Disadvantages:-

  • Any wear-and-tear of the car due to aging
  • Any mechanical and electrical breakdown
  • Private cars used for remuneration purpose is not covered
  • Driving without a valid driving license.

Key Features:-

  • Claim Settlement Ratio: 87.89%
  • Cashless Garages: 4600+
  • Solvency ratio: 1.87
  • Branches: 158+
  • Claims Settled: 15 Lakhs.
Get a Quote

8. SBI Car Insurance

What is it?

SBI has good coverage offerings and a top score for its collision repair claims processes. These advantages offset SBI’s car insurance rates, which are a mixed bag depending on your driving record.

Advantages:-

  • Easy and hassle-free purchase process
  • 24x7 claim assistance
  • Provides cover for CNG LPG Bio Fuel Kit.

Disadvantages:-

  • Loss or damage caused while driving under the influence of alcohol or any other intoxicating substance
  • Loss or damage due to depreciation of the car's value
  • Loss or damage due to war or nuclear risks.

Key Features:-

  • Claim Settlement Ratio: 86.01%
  • Cashless Garages: 5000+
  • Solvency ratio: 2.00
  • Branches: 137+
  • Claims Settled: 6.23 Lakhs.
Get a Quote

9. Universal Sompo Car Insurance

What is it?

The company is well known for its high customer ratings and affordable coverage options, including accident forgiveness. However, it has strict eligibility requirements and not everyone qualifies for coverage.

Advantages:-

  • Quick claim settlement
  • Instantaneous purchase
  • Wide range of add-ons
  • 24x7 claim assistance
  • Robust customer support system.

Disadvantages:-

  • Normal Wear and tear and general ageing of the vehicle.
  • Depreciation or any consequential loss.
  • Mechanical/ Electrical breakdown.
  • Vehicle being used otherwise then in accordance with limitations of use.

Key Features:-

  • Claim Settlement Ratio: 87.96%
  • Cashless Garages: 3500+
  • Solvency ratio: 1.90
  • Branches: 86+
  • Claims Settled: 1.11 Lakhs.
Get a Quote

10. Magma HDI Car Insurance

What is it?

Magma HDI is worth considering as your top choice. The company offers reputable service, a wide selection of coverage and cheap car insurance rates, according to our rate estimates.

Advantages:-

  • Save time
  • Get better price
  • Easy and convenient process
  • Trained professionals at your service.

Disadvantages:-

  • Mechanical or Electrical breakdown and failure
  • Damage to tyres/tubes of the Car, unless damage to the vehicle in the accident with liability
  • Damage by a person driving under the influence of Liquor/Alcohol/Drugs.

Key Features:-

  • Claim Settlement Ratio: 82.35%
  • Cashless Garages: 1300+
  • Solvency ratio: 1.79
  • Branches: 200+
  • Claims Settled: 10 Lakhs.
Get a Quote

Conclusion:

That is a difficult decision that will depend on your needs. We hope that, by exploring our site and considering Shriram insurance, we can help you get the car insurance coverage you need. If you are looking for a plan that will let you save money on your premium and provide good coverage, then some of the above options may be the best choice for you.

Although it isn't always easy to choose the best car insurance company, it's certainly easier with the help of PolicyBachat.com. Compare car insurance quotes at PolicyBachat and know all the key features and benefits of Shriram to help you choose the right option.

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