FAQs on Vehicle Insurance Premium Loan

Shriram Vehicle Insurance Premium Loan is exclusively available to existing Shriram Finance customers with an active loan account and a satisfactory loan repayment history. New customers are not eligible to apply for this loan at the moment.

Apply for vehicle insurance on EMI — we pay the insurer directly; you repay via EMI-based premium payment over repayment tenure up to 12 months.

The facility covers a wide range of commercial vehicles including trucks, heavy commercial vehicles, buses, light commercial vehicles (LCVs), and fleet vehicles financed under Shriram Finance.

Yes, once your loan is approved and confirmed, your insurance policy is issued immediately. This ensures that there is no gap in coverage for your vehicle.

Yes. The primary purpose of the insurance premium loan is to support timely insurance renewal, so that you can avoid a policy lapse and any associated penalties or legal complications.

No. Shriram Finance follows a policy of transparent charges. All applicable interest rates, processing fees, and other charges are communicated clearly before you confirm the loan.

Yes. Fleet owners with multiple commercial vehicles financed under Shriram Finance may be eligible to avail the insurance premium loan for their fleet. Please speak to your branch representative or call customer care for details on fleet insurance premium funding.

Allowing your insurance to lapse can result in legal penalties, as third-party insurance is mandatory for all commercial vehicles in India. Additionally, an uninsured vehicle cannot operate legally, which directly impacts your business and income. Vehicle insurance renewal financing prevents insurance policy lapse before the insurance premium due date, ensuring uninterrupted vehicle operations.

You may choose from optional add-on covers such as Zero Depreciation, Engine Protect, Roadside Assistance, and Consumables cover to enhance your protection. These are subject to availability and the terms and conditions of the insurer.

Shriram Finance is a trusted financial partner for lakhs of commercial vehicle owners across India. Here’s what you get on applying for our insurance premium loan:

• Understanding of Commercial Vehicle Customers: Decades of experience serving transporters, fleet owners, and logistics operators across the country.
• Strong Insurer Partnerships: We work with leading insurance providers to ensure reliable, comprehensive coverage for your vehicle.
• Dedicated Claim Assistance and Customer Support: Our team is available to guide you through the claims process when you need it most.
• Optional Add-On Covers: Enhance your protection with Zero Depreciation, Engine Protect, Roadside Assistance, Consumables cover, and more (subject to insurer terms and conditions).
• Proactive Renewal Assistance: We send timely reminders and provide renewal support to help you avoid coverage gaps or penalties.
• Reduced Operational Hassle: Single-point assistance through our branches means less paperwork and fewer trips for you.
• Trusted by Millions: A reputed name in commercial vehicle working capital solutions, with a track record built on trust and transparency.