SBI Electric Car Insurance
SBI electric car insurance financially & legally protects your Electric Vehicle (EV) from unforeseen incidents,
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Key Features of SBI EV Insurance
When you insure your EV with SBI electric car policy, you get these features and benefits:
| Features |
Coverage & Benefits |
| Third-Party Coverage |
Yes |
| Cashless Garages |
16000 |
| Personal Accident (PA) Cover |
Up to Rs.15 Lakhs |
| No Claim Bonus |
Yes (Up to 50%) |
| No. of Zero Dep Claims |
Unlimited |
| No. of Non-Zero Dep Claims |
Unlimited |
SBI Electric Car Insurance Prices
Here's a table that shows third-party insurance premium prices for electric cars. These prices are fixed by the Insurance Regulatory and Development Authority of India (IRDAI) based on the battery capacity of the EV.
| Battery Capacity |
Premium Prices (Approx) |
| Below 30 kWh |
Rs. 1,780 |
| Between 30 kWh & 65 kWh |
Rs. 2,904 |
| Above 65 kWh |
Rs. 6,712 |
*Disclaimer: The prices stated above are set by IRDAI and are subject to change. Always refer to IRDAI's official website for the most recent premium rates.
For the premium prices of a comprehensive car insurance plan for your EV, use the car insurance premium calculator or manually calculate the amount using this formula:
Comprehensive EV Insurance Premium= (OD Premium Price - (NCB + Discounts)) + Third Party Premium
How to Buy or Renew SBI EV Insurance?
Buying or renewing electric car insurance online offered by the SBI General Insurance Company involves the following simple steps:
- Visit Policybazaar.com and click on 'Car Insurance.'
- Enter your EV's registration number.
- For new cars, select 'Brand New Car' and provide make, model, variant, RTO.
- Enter your contact details.
- Share your previous policy expiry date and claim history (if any).
- Browse quotes and select SBI EV insurance.
- Choose any add-ons and review your coverage.
- Pay online via UPI, card, or net banking.
- Your policy will be emailed instantly.
Benefits of SBI Electric Car Insurance
You get these benefits when you get car insurance for your EV by the SBI General Insurance Company:
- SBI EV insurance covers damages to the insured EV from unexpected power surges, water ingress, short circuits, or electrochemical reactions in EV-specific components like inverter assemblies, electric motors, ISG systems & power cables.
- The company has an extensive network of 16000 cashless garages to provide smooth EV repairs and quick claim settlements to vehicle owners.
- With SBI electric car insurance, you get faster claim processing through the M‑Chatra app. The company has a high claim settlement ratio (98.6%) for speedy repairs & reimbursement.
SBI Electric Car Insurance Claim Process
Here is the simple procedure to file a claim against your SBI EV insurance policy:
- Inform the Insurer: Immediately report the incident to SBI.
- Claim Registration: Obtain a claim number after registration.
- Vehicle Inspection: A surveyor appointed by your insurer inspects your EV.
- Document Submission: Submit necessary documents to the surveyor.
- Claim Settlement: In case of a network garage, SBI pays directly. In case of a non-network garage, reimbursement is processed post verification of repair bills.
Documents Required to File SBI EV Insurance Claim
When raising SBI electric car insurance claim, you will need the following documents:
- Duly filled & signed claim form
- Copy of your electric car insurance policy
- Police FIR (in case of theft or third party claims)
- EV's RC and driving licence
- Identity proof (Aadhaar/PAN)
- Estimate of repairs
- Cancelled cheque (in case of reimbursement claims)
