Most Trusted Car Insurance
SBI Car Insurance
SBI car insurance offers monetary coverage to the insured car against unpredictable loss or accidental damages arising from incidents like road accidents, theft, fire, etc. Since motor insurance is absolutely necessary for every car owner in India, SBI General Insurance Company has come up with tailor-made car insurance plans that can also be enhanced by purchasing additional covers.
About SBI General Insurance Company Limited
SBI General Insurance Co. Ltd. is one of India's most trusted general insurers. It is a joint venture between the State Bank of India and the Insurance Australia Group (IAG). State Bank of India is the country's largest and foremost leading commercial bank in terms of profit, balance sheet, deposits, customer base, and branch network. On the other hand, IAG is a pioneer in general insurance, mainly in Australia, New Zealand, and Asia.
SBI General Insurance Company aims to provide innovative and simple general insurance solutions ranging from health, motor, home, and travel insurance. The company also fulfils the insurance needs of the retail, corporate and SME segments.
Key features of SBI Car Insurance
Third-Party Coverage
Yes
Claim Settlement Ratio
N/A
Personal Accident Insurance
Up to Rs. 15 Lakhs
Network Garages
16,000
No Claim Bonus
Yes
No. of Zero Dep Claims
Unlimited
No. of Non-ZDClaims
Unlimited
Benefits of SBI Car Insurance
Take a look at the features and benefits of SBI General car insurance:
A cashless facility is available in more than 16,000 authorised network garages.
Personal Accident Cover of Rs. 15 lakh is available for the owner/driver of the insured car.
Availability of affordable car insurance that can be easily customised.
A no-claim bonus discount is also given for every claim-free policy year.
The insurance company offers a fast, convenient and transparent claim settlement process.
Types of SBI Car Insurance Policy
SBI car insurance offers three major types of car insurance plans, which are explained below:
SBI Third Party Liability Car Insurance Policy
This SBI motor insurance policy provides legal liability coverage for the third party, which is mandated by the motor laws. It covers any damages sustained by the third party property or injury or death of the third party in case of an accident from the insured car.
The compensation offered under the third-party liability policy is unlimited for death or injury. For third party property damage, it is limited to up to Rs. 7.5 lakh.
SBI Standalone Own Damage Policy
The Own Damages car insurance policy covers a policyholder against damages sustained by the insured car due to events like theft, fire, natural calamities, road accidents, etc. The policy excludes covering third-party liability and, thus, can be purchased with an existing third-party liability car policy.
SBI Comprehensive Car Insurance
The comprehensive motor insurance policy by SBI General Insurance Company covers the insured car against damages arising due to unforeseen events like a road accident, manmade acts, earthquake, fire, theft, etc. Moreover, the comprehensive car insurance policy also covers third-party damages arising due to the insured car.
The coverage of a SBI comprehensive car policy can also be enhanced by purchasing add-ons at an extra premium.
SBI Car Insurance Premium Calculator
Before choosing the right SBI vehicle insurance policy, a policyholder can also calculate the own damage premium of a motor insurance plan by using a Car Insurance Premium Calculator. This enables him/her to check the premium beforehand and proceed only if the policy fits within his/her budget.
Coverage Under SBI Car Insurance
What is Covered?
Natural Calamities
Damage to the vehicle due to natural calamities like storms, floods, earthquakes, tempests, landslides, etc
Manmade Acts
Damages sustained by the insured vehicle due to manmade acts like riots, terrorism and strikes.
Fire
Losses to the insured car due to fire or explosion.
Theft
Loss or damages resulting from theft, burglary or housebreaking.
Liability to Third Party
Damages sustained by the third party due to the insured car. These include property damages, death or injury of a third party.
In-transit Damages
Loss or damage to the insured car while it was in transit via train, air, water, etc.
What is not Covered?
Wear and Tear or Breakdown
Damage to the insured vehicle due to normal wear and tear, general ageing, or mechanical and electrical breakdowns is not covered.
Used for Other Purpose
Damages to the insured vehicle if used for any reason other than as specified in the plan. For instance, a private car is being used for commercial purposes.
Invalid Driving Licence
Damage to or by a person driving the vehicle without a valid driving licence.
War
Loss or damage due to war, mutiny or nuclear risk.
Drunk Driving
Damages to the insured car while driving after consumption of alcohol or drugs.
Outside Geographical Location
Losses to the insured car outside the specified geographical location.
SBI Car Insurance Add-Ons
Depreciation Reimbursement Cover
The zero dep cover by SBI car insurance ensures that a policyholder gets the full amount that he/she claims without any deduction for the depreciation value on parts of the car.
No Claim Bonus Protection
When a policyholder raises a claim, his/her NCB gets nullified. To avoid this, an NCB Protect Cover can be beneficial. With this cover, the insurance company will retain the No Claim Bonus reward of the policyholder even if a claim is registered during the policy tenure.
Return to Invoice
Under the Return to Invoice cover, the insurance company will compensate the amount equal to the difference between the current invoice price and IDV of the car to the policyholder in case of a total loss or theft of the insured vehicle.
Key Replacement Cover
Under the key replacement add-on cover, the company will reimburse the cost of replacing the keys of the insured car, provided the original keys are lost, stolen or broken during an unfortunate incident. The replacement offered under this plan is allowed only once during the plan tenure.
How to Renew SBI Car Insurance?
For SBI car insurance renewal online, simply visit Policybazaar.com and follow these steps:
How to File a Claim Under SBI Car Insurance?
To file a SBI car insurance claim, you can follow the steps mentioned below:
Intimate the Insurer:
Call the toll-free number of SBI General Insurance Company and inform them of the incident for faster claim registration.
Inspection of the Car:
Once your claim has been registered, the insurance company will send a surveyor to estimate the extent of damages sustained by the insured car.
Documents Submission:
Submit the relevant documents asked by the surveyor for the claim to be processed. Keep all the required documents handy.
Claim Processed:
The insured car will be sent to the network garage for repairs. Once the repairs are complete, the insurance company will settle the claim directly with the network garage. If it's a reimbursement claim and the repairs have not been done in an authorised network garage, the company will pay you the claim amount after you settle the bill.
Documents Required to Raise a Claim Under SBI Car Insurance
To raise a claim under SBI car insurance, you will be required to submit the following documents to the insurance company:
Car Insurance for Popular Brands in India
FAQs - SBI Car Insurance
-
How can I reduce the SBI car insurance price?
To lower your SBI car insurance price, retain your NCB by not raising any claim, install an ARAI-approved anti-theft device, opt for voluntary deductibles, and become a member of the Automobile Association of India. -
How can I check the policy status for SBI car insurance?
For registered online users, log in to the insurer's website with your policy details and check the status of your four-wheeler insurance policy. If you are a Policybazaar customer, you can check the status of your policy by logging into your account. -
What is the company's process for settling claims for SBI car insurance?
You need to inform the insurance company on the toll-free number or you can send the e-claim request on the company's mail ID. Upon successful completion of the documentation, the claim will be settled within 30 days. -
What is the policy cancellation process for SBI car insurance?
If the vehicle is liability-covered, you can ask for the policy to be canceled by visiting the nearest branch of the insurer or sending an email to them. -
How can I download the SBI car insurance policy online?
You can get an SBI car insurance policy download from the insurer's official website. Moreover, if you have purchased a policy from us, you can download a soft copy from your Policybazaar account as well.
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#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
+Savings are based on the maximum discount on own damage premium as offered by our insurer partners.
^Lowest Price Guaranteed is based on certifications shared by insurers with us. Policybazaar will facilitate price matching subject to the terms and conditions of select insurers.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.
