SBI CAR INSURANCE

SBI Car Insurance by SBI General Insurance Company 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.

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 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: 1500+ 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 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.


Car insurance save up to 80

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 General Car Insurance Policy

SBI General 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 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 General Car Insurance- FAQs

Written By: PolicyBazaar - Updated: 22 September 2020
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Average Rating
(Based on 14 Reviews)
SBI CAR INSURANCE Reviews & Ratings
4.3 / 5 (Based on 14 Reviews)
(Showing Newest 14 reviews)
Sumedh
Wadhwan, September 30, 2020
Fit plans
I have taken the sbi general car insurance plan from the policybazaar and it is one of the amazing and fittest plan for me and my car. Kudos to team policybazaar.
Siraj
Habra, September 29, 2020
No claim bonus
I have got my no claim bonus certificate from the policybazaar as I have got my car plan from sbi general insurance which was suggested by the policybazaar.
Shirish
G.mahisani, September 28, 2020
Network garages
The network garages which are available at the sbi general car insurance is pretty good and I have bought the policy from the website of the policybazaar. Thank you team.
Sapan
East Godavari, September 25, 2020
Personal accident coverage
I have taken the sbi general insurance policy from policybazaar and also the personal accident coverage from the same. It has enhanced my car insurance plans. Thank you team.
Pruthav
Dabugam, September 24, 2020
Claim ratio
The claim ratio of the sbi general car insurance is really good and I have bought this plan online via policybazaar. Thank you policybazaar.
Pratap
Dabugam, September 23, 2020
Third party coverage
I have got the third party insurance policy of sbi general car insurance from the website of the policybazaar and it has helped me and the third person for better coverage.
Apollo
Baarod, September 22, 2020
Customized plan
I have recently got the sbi general insurance policy from the policybazaar and it can be customized as per my convenience. Thank you team policybazaar.
Paranjay
Fakirsahi, September 21, 2020
Coverage
With the help of the sbi general car insurance policy I got from policybazaar I have got the greatest coverage at one place. A superb plan for my car. Thank you policybazaar.
Phillip
Wadhwan, September 18, 2020
Variety at one place
I really like the website of the policybazaar and have got to know about different varieties at one place. I got my sbi general car insurance plan from the policybazaar and it is best thing.
Hansaraj
Habra, September 16, 2020
Online plans
I can easily get the sbi general car insurance policy from the website of the policybazaar. It is too easy and very quick. I really like the plan. Thank you team.
Edgar
Dabhoi, September 15, 2020
Easy to get
It is very easy to get the sbi car insurance policy from the website of the policybazaar. It is really good and I am much happy with my plan. Thank you policybazaar.
Reid
Dadengiri, September 14, 2020
Low premiums
I have taken the sbi general car insurance policy from the policybazaar and it is one of the best plan which I got from them. Thank you so much team policybazaar.
Raveena
Varanasi, December 20, 2015
TIME SAVING AND RELIABLE
SBI is governmental insurance agency so my trust comes automatically to it. I have bought family mediclaim, and senior citizen health insurance for my family and parents respectively. I have been customer of SBI health insurance from last 10 years. In span of 10 years I have claimed it once during my surgery. They have good number of recognized hospitals all across the city. They were quick in settling my amount.
Sharad
Dehradun, December 20, 2015
Awesome Plan!!
SBI General Car Insurance was suggested by one of friend. I have purchased SBI General Insurance for my four-wheeler. There coverage is good when compared to all other players in the market. They cover full accessories. I have received mu all car insurance policy documents within 2 days. SBI Car insurance has good interest too which was the main reason toward buying it.