SBI Car Insurance

SBI Car Insurance by SBI General Insurance Co. Ltd. is the most trusted general insurer in India which is a joint venture between State Bank of India owning 74% of the total and Insurance Australia Group (IAG) holding the rest of 26%. State Bank of India is the country’s largest and foremost leading commercial bank in terms of profit, balance sheet, deposits, customer base and last but not the least its huge network of branches. IAG is a pioneer in general insurance company mainly in Australia, New Zealand and Asia which underwrites almost an $11 billion of premium every year. 

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Car is treated as one of the important treasured possession in anybody’s life. In today’s busy world, almost every individual needs their own mode of transportation in order to have a smooth and independent life and hence car is a necessity. Therefore, protecting the car or his or her vehicle is of utmost importance. The protection can be done against risks like natural calamities and other dangers like theft etc. Not only can this, but third party damage or loss and legal proceedings also be taken care of by the car insurance plans. Hence, it’s absolutely necessary that every car owner must have a car insurance plan and moreover the same has been mandated by law as well. SBI General Insurance Co. Ltd. has come up with tailor-made car insurance plans which fit the necessities and provisions that an individual might need for his or her vehicle.

SBI Car Insurance Plan at a Glance

Features Coverage and Benefits
Third Party Coverage: It protects against any legal liability arising out of an accident.
Incurred claim ratio: 102.07%
Personal Accident Insurance: Up to 15 Lakhs
Network Garages: 2613 network of garages across India
No Claim Bonus Yes

Why Does One Need Car Insurance Plans?

Accidents can happen at any point in time and so does the natural calamities. No can predict either of these but can certainly protect their vehicles from the uncertainties and related loss or damage by availing the best car insurance plans. A good car insurance plan can shield or guard the vehicles and the insured not only from accidents and natural calamities but also from the risks arising out of third party damages and loss. Moreover, it’s absolutely mandatory under the Motor Vehicles Act to have a car insurance plan.

Hence, SBI General Insurance Co. Ltd. provides wide-ranging car insurance plans which shield vehicles from any risks.

Here we will see an overview of SBI Car Insurance Plan.

Why SBI Car Insurance Plans?

  • Profile-based personalized pricing
  • One can avail discount if aged between 36-60 years
  • Options add-ons like nil depreciation return to invoice etc
  • Transparency

Now let’s have a look at the features and benefits of the plan.

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Features and Benefits of SBI Car Insurance Policy

  • The plan includes compulsory personal accident cover of INR. 15 lakhs for the individual owner of the car. It does not apply to company-owned vehicles. Personal accident cover for the occupants of is limited to INR 2 lakhs per individual. You can also increase your Personal Accident coverage by paying an additional premium.
  • Third Party Liability: This policy provides for legal liability coverage for the third party as well which is mandated by the law.
  • Damage to the vehicle due to natural calamities like storm, flood, etc. or any burglary, theft or act of terrorism
  • It covers for the following things as well for an additional premium :
    • Additional Legal Liabilities towards Paid Driver and Employee: This plan also covers the additional legal liabilities towards paid driver employed during the accident of the vehicle and also the employees travelling or driving the vehicle
    • (Other than the driver).
    • Nil Depreciation: It ensures that one gets the full amount that he claims without any deduction of the depreciation value on parts of the car.
    • Bi-fuel kit: The plan also covers the CNG/ LPG /Bi-Fuel Kit.
    • No Claim Bonus Protection: The Company will sustain the No Claim Bonus on payment of additional premium provided :
  • The vehicle is renewed with the company.
  • Only one single claim was made during the policy tenure.
  • The insured vehicle is repaired in a Garage which is authorized by the Company.
  • The rate of No Claim Bonus at the time of renewal will be at par with the time prior to the loss he has incurred.

Return to Invoice:

Under this plan, the Company will pay the monetary deficit

 (if any), between the amount insured receives under Section I of the plan and the purchase price of the vehicle as confirmed in the Invoice of Sale or current replacement price of the new vehicle, whichever is less, in case the insured vehicle is a Total Loss /CTL following an accident or being stolen during the tenure of insurance and not recovered thereafter. The First time Registration

Charge as well as the Road tax which the insured has incurred on the insured vehicle will also be reimbursed by the Company. However, the insured vehicle should not be more than 2 years of old from the date of the invoice or the date of registration whichever is earlier.

Key Replacement Cost:

Under this plan, the company will reimburse the cost of replacing the keys provided:

  • In case of lost or stolen keys, all other duplicate keys are to be deposited with the Company.
  • The entire sets of old keys are to be deposited with the company in case the vehicle is broken at the time of the burglary or attempted burglary.
  • An FIR copy to be submitted with the Company confirming the date and the time of the incident.
  • The replacement process will be done at any of the Garages authorized by the Company.
  • Each replacement claim will be subject to q0% co-share of the total cost of replacement subject to a minimum of Rs 500/- by the insured.
  • The replacement under this plan is allowed only once during the plan tenure.
  • All items replaced under this plan will be the same type with respect to quality, standard or quantity with the one which was lost, stolen or replaced.

Loss of Personal Belongings:

Under this plan, the Company will reimburse the loss of personal belongings provided:

  • It covers the personal belongings of the insured individual only.
  • An FIR copy to be submitted with the Company confirming the date and the time of the incident along with the list of articles lost.
  • The plan defines Personal Belonging as items such as clothes and other articles of personal nature which includes jewellery, mobile, laptop, audio/video tapes, CDs. However, it excludes money, securities, cheques, bank drafts, debit and credit cards, travel tickets, paintings, curios and items of similar nature.
  • Any claim under this plan is subject to a precondition that there is valid own damage or key replacement claim with respect of the insured vehicle which is already submitted and processed by the company under the plan.
  • The maximum amount payable under the plan is RS 50000/- during the plan tenure. However, each claim is subject to a deductible to Rs 5000/- for Laptop and Jewelleries and RS 2500/- for Mobiles and RS 500/- for the rest.

Inconvenience Allowance:

Under this plan, the company will pay the Insured a daily cash benefit as mentioned in the schedule provided:

  • Daily cash benefit has taken only for the time taken for the repair of the damages caused due to the accident subject to a maximum period of 10 days.
  • The repairs should be carried out in Garages authorized by the Company only.
  • The deductible mentioned in the schedule will be reduced from the eligible days of benefit for each and every claim under the plan.
  • The plan is applicable only for the first two own damage claims during the plan tenure.

Bonus and Discount on SBI Car Insurance Policy

  • No Claim Bonus (NCB): If n claim is made during the plan tenure, then a No Claim Bonus is offered on renewals subject to a maximum of 50% and the policy is renewed within 90 days of the expiry date of the previous policy. Another advantage is one can transfer the No Claim Bonus and its full benefits when one shifts from one Car Insurance Plan to the other Car Insurance Plan of any other company.
  • Voluntary Excess Discount: An attractive and a further discount on the premium is applicable if one opts for a Voluntary Excess in addition to the Compulsory Excess.

Car Insurance Fines

Exclusions under SBI Car Insurance Policy

SBI Car Insurance Plans have some exclusion which one should be well-known with so that there is a clear understanding of the plans and one is absolutely doubts free while applying for the same. Any loss/damage to the vehicle to its accessories will not be covered if caused due to the following reasons:

  • Normal wear, tear and general aging of the vehicle.
  • Depreciation or any consequential loss.
  • Any loss or damage to the vehicle to its accessories
  • Mechanical and electrical breakdown.
  • The vehicle used for any other reason other than as specified in the plan.
  • Damage to or by a person driving the vehicle without a valid driving license.
  • Loss or damage due to war, mutiny or nuclear risk.
  • Driving after consumption of alcohol or drugs.

Claim Process for SBI Car Insurance:

  • Call at the toll-free no of the company and lodge the claim.
  • The claim reference number will be given and the process will be explained.
  • “i-claim” form can also be downloaded and after filling up, the same can be forwarded to claims@sbigeneral[dot]in email id.
  • One can also download the claim form and submit the following documents:
    • Self-attested legible copy of the Registration Certificate.
    • Self-attested legible copy of Driving License of the driver at the time of the accident.
    • Attested copy of FIR in case of third party injury/ damage.
    • Details of the third party injury/ damage.
  • A Surveyor is appointed to assess the loss of the insured vehicle and inspection of the same. Post which the approval is given and the insured is intimated about the claim status.
  • The Surveyor will monitor the repair work in every stage. In case of cashless claims, one might have to pay the respective proportion of the loss towards depreciation, deductibles/ excess as per the policy, charges towards the repairs authorized by one and take the delivery of the vehicle. And in case where the repair is done in any garage, the insured will be required to pay bills to the garage and then submit the bills in originals to the SBI General Insurance Co. Ltd. local office with the relevant documents for reimbursement.
  • In case of an accident, the company will for repair and/or the replacement charges of the damaged parts and the labour charges. In case of replacement of any damaged part, depreciation charges for the replaced parts as per the insurance policy will be borne by the insured person. In addition the excess/ deductibles as mentioned in the policy will be borne by the insured person. The cost of removal of the vehicle from the accident place to the nearest garage or the repair shop is also reimbursed as per the specified limit.
  • One very important to be noted here is that irrespective of any damage caused to the vehicle or not, the insured person should never fail to inform about the accident to the insurance company. In case of an accident with third party injuries or damages, FIR needs to be furnished along with other claim documents.
  • Claims also can be lodged after expiry /renewal of a policy provided the incident happened within the policy period. Any claim falls outside the policy period will not be entertained.

SBI Car Insurance Online Purchase and Online Renewal

One can purchase and renew the plans online by simply filling certain details. By visiting the official website > Plans for Individuals> Buy / Renew Online option, these can be done.

Car Insurance Renewal

SBI Car Insurance Contact Details:

  • One can also email at customer[dot]care@sbigeneral[dot]in
  • Individuals can also opt for “Request a call back” option where after filling up a few simple details a call back will be made from the Company.

SBI Car Insurance- FAQs

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Average Rating
(Based on 42 Reviews)

Why buy from Policybazaar?

  • 24x7 Claims Assistance
  • Cashless Assurance
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  • Self Video Claims
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SBI Car Insurance Reviews & Ratings

4.6 / 5 (Based on 42 Reviews)
(Showing Newest 25 reviews)
Dwarka, December 15, 2021
Supportive staff
When I went to Policybazaar for my car plan, I found that the entire staff treats each of their customers generously. I bought sbi general car plan from here. The executive who was giving me complete information about the car policy helped me choose the best plan for me.
Raigarh, December 08, 2021
Instant updates
I chose Policybazaar for car insurance because of proper follow up and good customer service. After going through various car plans, I chose SBI General Car Insurance in which I got protection from unwanted expenses. satisfied with the overall service
Baddi, November 26, 2021
Budget friendly plan
The follow up and services provided by the team of Policybazaar were very good and prompt. I took sbi general car insurance from here and i found everything hassle free as the team was very helpful. am executive helped me choose the right plan within my budget.
Vadodara, November 23, 2021
Premium calculation
After searching a lot, i came across the Policybazaar website. before purchasing the plan, i compared the plans and at last calculated the premium rate on the website. sbi general car insurance was according to my budget so i bought it.
Saharanpur, October 26, 2021
High coverage
The coverage provided under my sbi general car insurance is very high and good. i took car insurance from Policybazaar and they offered me such a good deal at a low premium rate. There is no doubt that Policybazaar always gives its best.
Surat, October 07, 2021
Affordable plan
I found it so convenient to compare plans online. I landed on the website of Policybazaar and checked many car plans. I compared different plans and benefits. Out of many, I chose SBI General Car Insurance which was economical for me.
Uluberia, September 14, 2021
Less paperwork
There were less paperwork when I was buying New India Assurance Car Insurance from Policybazaar. everything was handled by the executive. I did not have to pay any extra amount I only paid the premium amount. Anyone who wants to buy a policy should take a policy from the Policybazaar.
Sonipat, September 13, 2021
Low premium
I have recently renewed my sbi general car insurance which I have taken from Policybazaar. Those who are willing to buy car insurance, I would love to recommend Policybazaar to them as they will get good coverage at low premium and full support from Policybazaar just like I got.
Akola, September 08, 2021
Cooperative team
I have got protection from unplanned events as i have bought sbi general car insurance from the Policybazaar. my policy will protect me from financial burden in case of any mishappeining. when i was purchasing my plan everything was handled by the team of Policybazaar.
Vijayawada, August 30, 2021
Nice service
Policy Bazaar is the best in terms of customer handling. as compared to others they provides best customer service to their customers. staff was well trained. i took SBI general car insurance and i got high coverage within my pocket. Nice service.
Meerut, August 27, 2021
Best plan
SBI general car insurance
Rajkot, August 27, 2021
Premium calculator
The premium calculator is the best thing on the Policy Bazaar website. I had to insure my car and to get an idea of ??the premium rate, I calculated the premium on their website. It was such an amazing and convenient thing on the website.
Agra, August 26, 2021
Add on covers
I took the Sbi General car insurance through the policy Bazaar.When I came to know about add on cover, i customized my policy and added more features to it. It enhanced my car insurance plan as per my needs.
Bhopal, August 25, 2021
Supportive team
Good place to buy a policy within your budget. I have purchased Sbi General car insurance through policy bazaar. i had some doubts earlier but they cleared all my doubts. Team will provide you all the necessary information about the policy.
Visakhapatnam, August 25, 2021
very good car plan
I have got a very good car plan from the policy bazaar. if anyone is thinking of buying car insurance, they should visit the policy bazaar. You will surely love their plans as they have a lot of plans at an affordable price.
Motihari, August 18, 2021
Renewal is easy
i had taken SBI car insurance from policy bazaar.recently i have renewed it from home itself. policy bazaar service is very good as compare to others. team was very cooperative.
S.c. Pur, April 26, 2021
Network gaarges
In my sbi general car insurance plan I have got the assistance related to network garage. It will be easy to get my car repaired on time and it will save my money too. Thanks to policybazaar for such good suggestion.
Canning, April 23, 2021
Pay premium online
It is very easy to pay for the premium amount online. I bought a car insurance plan of sbi general from the website of policybazaar. The premium amount has to pay on monthly basis and easy to pay.
Sabang, November 18, 2020
Zero depreciation
I have took the sbi general car insurance plan and it is has given me the additional features of zero depreciation. It is a good plan and one of the best. I took this plan from the website of the policybazaar.
Vadali, November 17, 2020
I have availed the discounts when I have bought the sbi general insurance plan from the website of the policybazaar. It is a good plan. Thank you policybazaar.
Dabhoi, October 14, 2020
Understanding customer care
The customer care of the policybazaar is very good and they suggested me one of the best sbi general car insurance plan for my car. Kudos to team for such good plans.
S.c. Pur, October 13, 2020
It is easy to renew my sbi general insurance plan from the website of the policybazaar. I just checked into the website of the policybazaar and my whole process is done easily. Great work team policybazaar.
East Godavari, October 12, 2020
Protection coverage
I have got a better facilities of coverage and assistance from the policybazaar and I have suggested many of my friends to get these plans. Easy to buy and easy to use. Thank you so much policybazaar.
R.k.nagar, October 08, 2020
Natural calamities coverage
My sbi general insurance plan bought under the guidance of the policybazaar has given me the coverage for the natural disasters such as earthquake, cyclone etc. A good plan with suitable coverage.
R.k.nagar, October 07, 2020
Coverage from the damages
I have got the coverage from the damages and the losses which will incurred at the time of accident or loss as I took the sbi general car insurance plan from the website of the policybazaar. I feel like it is amazing and much affordable.