SBI Commercial Vehicle Insurance

SBI General Insurance Company is an endeavour between the renowned State Bank of India and Insurance Australia Group (IAG). Headquartered in Mumbai, the State Bank of India is a government-owned corporation. Read more

Buy instant insurance for Goods, Passenger & Miscellaneous vehicles
  • 18+ insurers to choose from

  • Instant renewal for expired policy

  • Cover lamp, tyre Tube & bumper

Save upto 80% on Commercial Vehicle Insurance*
View free quotes
Please wait. We Are Processing..
By clicking on ''View free quotes'' you agreed to our Privacy Policy and Terms of use

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Catering to the needs of the customers, SBI General Insurance Company offers a wide array of product and services, for instance, health insurance, motor insurance, travel insurance, commercial vehicle insurance and so on suiting the preferences of the customers respectively.

SBI Commercial Vehicle Insurance essentially secures one from any financial liability in case of any loss or damage caused to the commercial vehicle, person or third-party in case of any accident/mishap.

SBI Commercial vehicle Insurance corroborates 3600 protection to the commercial vehicle against any uncertainties. 

Features of SBI Commercial Vehicle Insurance

When the vehicle gives you the income for a livelihood, it is of utmost importance to secure the vehicle from any uncertain mishap. Following are some of the key features offered under SBI commercial vehicle insurance, which are:

  • Comprehensive Cover: This plan essentially provides extensive coverage for any loss or damage caused by an insured event. Besides, this policy also offers protection against any third-party liability. It is recommended to buy comprehensive commercial vehicle insurance.
  • Third-party Liability Cover: In India, a third-party liability cover is a legal mandate. This cover essentially provides compensation for any claim arising from a third-party in case of any injury or death because of the insured vehicle in the event of any unforeseen mishap.
  • Own Damage Cover: If under any unfortunate circumstances, which includes self-ignition, robbery, housebreaking, riot, strike, flood, earthquake, any accident due to external means, terrorist activity, landslide, in transit by rail, road, air, and so on leading to the damage or loss either to the insured vehicle or its accessories will be covered under the plan.
  • Personal Accident Cover for Driver or Owner: Compensation will be provided to the driver or the owner of the vehicle depending upon the nature of the injury sustained. In the below grid, the scale of compensation, which will be provided to owner-driver:

 

Injury

Compensation

In case of demise

100%

Under the loss of two limbs or both the eyesight or one limb and one eyesight

100%

Loss of one limb or one eyesight

50%

Permanent disablement from injuries apart from the above-mentioned

100%

  • Towing Disabled Vehicles: A cover will be provided when the insured vehicle is used to tow any mechanically disabled propelled vehicle. Under such a circumstance, in terms of liability concerning the towed vehicle, the indemnity is payable.
  • Insured Declared Value: This is fixed at the beginning of each policy period. It is generally fixed on the premise of the selling price listed by the manufacturer concerning the brand and model of the vehicle either during the beginning of the policy period or during the renewal. In the below grid, find the schedule of depreciation for fixing the insured declared value of the vehicle:

Age of the Vehicle

Percentage of Depreciation

Not surpassing 6 months

5%

Surpassing 6 months but not surpassing 1 year

15%

Surpassing 1 year but not surpassing 2 years

20%

Surpassing 2 years but not surpassing 3 years

30%

Surpassing 3 years but not surpassing 4 years

40%

Surpassing 4 years but not surpassing 5 years

50%

Note: Vehicle models, which are past 5 years, are treated as out of date models.

  • Easy Claim Settlement Process: A quick and convenient fast settlement promptly with reliable customer care support.

Additional Coverage Offered By SBI Commercial Vehicle Insurance

SBI commercial vehicle insurance policy offers some extra covers. One needs to pay the additional premium and take the maximum benefit:

  • No Claim Bonus Cover: It is to be noted that once a claim is made the No Claim Bonus for the commercial vehicle does get affected. However, having this cover will ensure the existing NCB of the policy can be retained at the time of renewing the policy. Moreover, this is only applicable only for a single claim within the policy period.
  • Key Replacement Cover: If in any case, the keys of the vehicle are stolen or are lost then under such a situation coverage will be provided towards the cost incurred of the replaced keys as mentioned in the policy schedule.
  • Cover for Loss of Personal Belongings: If in case, the baggage is lost or damaged when kept in the insured commercial vehicle then having this cover will help one to receive an amount specified in the policy schedule.
  • Return to Invoice: In case if one loses the vehicle, and falls under either total loss or constructive total loss or total theft, then under such a condition depending on the availability of the same model one will receive the shortfall amount.
  • Bi-fuel Kit: Having this add-on cover will secure the CNG-LPG bi-fuel kit.
  • Additional Legal Liabilities: In case of any legal liabilities, wherein the driver employed to drive the vehicle and employees either travelling or driving the vehicle apart from the paid driver will be covered.
  • Depreciation Reimbursement: In case of any loss or damage to the insured commercial vehicle, this cover will settle the claim without any subtraction for depreciation upon the value of the parts replaced.

Exclusions under SBI Commercial Vehicle Insurance

The following are the exclusions under the SBI commercial vehicle insurance, which are:

  • Wear and Tear: If any loss/damage occurs, to the insured vehicle or its accessories due to general ageing or normal wear and tear of the commercial vehicle.
  • Consequential Loss: If any damage occurs to the commercial vehicle out of a particular action either by the policyholder or third-party, which is not covered under the policy schedule.
  • Breakdown of the Vehicle: When any loss or damage occurs due to the electrical or mechanical breakdown of the insured commercial vehicle.
  • Out of Policy Vehicle Usage: If any loss/damage occurs to the insured commercial vehicle when the vehicle is used for some private affair and is not mentioned in the policy schedule.
  • Unauthorized Driving: If any damage is caused to or by a person who is driving the vehicle and does not hold the legal driving permit of India.
  • Illegal Driving: If any damage is caused to or by a person driving the vehicle under the influence of alcohol or substance/drugs.
  • Civil/Nuclear Perils: If any loss/damage occurs in perilous situations like nuclear war, nuclear risk, civil war or mutiny.

Claim Process for SBI Commercial Vehicle Insurance

In the case of making a claim, one needs to do the following:

  • Contact the support team of the company at the toll-free number and accordingly lodge the claim.
  • Thereafter, a claim reference number will be given and the executive will explain the process.
  • Download the’i-claim’ form and fill the form giving correct information and submit the form by mail on the email address: claims@sbigeneral[dot]
  • One may also download the claim form and submit the same along with the following documents:
  1. Self-attested copy of registration certificate.
  2. Self-attested copy of the driving license of the driver during the accident.
  3. In case of third-party injury/damage, attested copy of first information report.
  4. In case of any loss or damage, relevant information of the third-party.
  • To examine the loss of the insured vehicle, a surveyor is appointed who inspects the equivalent as per the details were given. Once the surveyor is done with the inspection process, the surveyor informs about the same to the insured and status of the claim.
  • During the process of repair, the surveyor will actively examine the work at every stage.
  • It is to be noted that irrespective of the intensity of the damage caused to the vehicle, do not fail to inform the insurance provider about the accident/mishap occurred. Besides, in case of any damage/loss caused to the third-party in an accident, a copy of FIR needs to be furnished with other relevant claim documents.
  • Remember, claims can be filed even after the renewal or expiry of a policy only if the incident occurred during the policy period. Any claim arising outside the period of policy will not be accepted.

Renewal Process for SBI Commercial Vehicle Insurance

One can renew the plan online by providing specific details.

One needs to visit the official website > Plans for Individuals> Buy / Renew Online option, these can be done.

SBI Commercial Vehicle Insurance FAQs

Written By: PolicyBazaar

SBI Commercial Vehicle Insurance Reviews & Ratings

0 / 5 (Based on 31 Reviews)
(Showing Newest 25 reviews)
Omkar
Chennai , October 26, 2021
Great features
I have got day care hospitalization feature under the mediclaim policy which i have purchased from the policybazaar. It offered me lifelong renewability Cover. It includes tax exemption benefits, cashless hospitalization and many other facilities. overall i like my plan.
Angoor
Kolkata , October 26, 2021
Trustworthy website
I rarely trust the online purchasing because of the possibility of fraud but Policybazaar has built my trust up. I went through the online process when I was taking care health insurance from here and i found this website trustworthy.
Kush
Surat, October 26, 2021
Helpful staff
I rarely trust the online purchasing because of the possibility of fraud but Policybazaar has built my trust up. I went through the online process when I was taking care health insurance from here and i found this website trustworthy.
Ranveer
Pune, October 26, 2021
Low cost plan
Such a simple and easy process to buy a policy was provided to me by Policybazaar. Someone suggested me to check the health plans on Policybazaar website. i went through a lot of plans and i found the right plan here. i bought star health insurance at low cost.
Kushal
Jaipur, October 26, 2021
Good Coverage
I have bought Bajaj Allianz Health Insurance for my family and by taking a health plan, I have secured my entire family. I have got coverage against medical expenses and buying my policy online has saved my money as I did not have to pay agent fees.
Jitendra
Lucknow, October 26, 2021
Affordable plan
A friend of mine told me about Policybazaar. He said that he has found an affordable health plan deal in Policybazaar. I went to Policybazaar to buy the same plan. I wanted a family health plan so I took Aditya Birla health insurance and it has covered every member of my family.
Rajesh
Kanpur, October 26, 2021
Easy to compare
Last week i went to Policybazaar for taking health plan for my family. An executive explained the policy very well and showed me various plans out of which i chose digit health insurance and it has covered me and my wife.
Kuvar
Nagpur, October 26, 2021
Good plan
I was able to compare the various plans easily on the website of Policybazaar. At first, i was confused about what i should choose as so many options were given there but then i bought sbi general health insurance for my parents. I got really good senior citizen health plan.
Abhijeet
Allahabad, October 26, 2021
Hassle free experience
I had an amazing and hassle free experience with policybazaar. Everything has beem very smooth when i was purchasing health insurance from policybazaar. Their team assisted me in well mannered way.
Bhaskar
Ranchi, October 26, 2021
Problem resolving
I contacted the customer care of policybazaar as i was facing some difficulty. They just took a minute to solve my problem. I am happy that i have bought my health insurance from the right place. Policybazaar always give proper attention to its customers.
Debyendu
Haora, October 26, 2021
Supportive team
When I was buying my health insurance from the website of Policybazaar, I was a little confused about the policy. I got in touch with the customer care and the executive guided me very well and cleared all my doubts with satisfactory answers. Thanks to Policybazaar for guiding me.
Gaurav
Coimbatore, October 26, 2021
Smooth service
In my health insurance, company is providing me financial assistance. i have got medical coverage against medical expenses arising out of health emergency which i have taken from the Policybazaar. service of policybazaar is very smooth and fast.
Angad
Jabalpur, October 26, 2021
Good service
I have bought health insurance through the website of policybazaar. Policybazaar gave me full support and when i contacted the customer care of policybazaar for clearing some of my queries they provided me very good service. Thanks to the Policybazaar for Giving me superb service.
Aniruddh
Gwalior, October 26, 2021
Cashless treatment
I have got cashless treatment facility in my health insurance. This will help me to save my savings as I will not have to bear the financial burden of medical expenses. Anyone who is looking for the best and an affordable health plan I would love to recommend Policybazaar to them.
Onkar
Vijayawada, October 26, 2021
Easy Reimbursement
My experience with Policybazaar has been great. I had taken senior citizen health insurance for my mother from Policybazaar. Last month, she was admitted to the hospital due to a medical emergency. When she got discharged I connected with Policybazaar for reimbursement of hospital bills and I got it immediately
Paramjit
Jodhpur, October 26, 2021
No claim bonus
Policybazaar is totally worthy place to buy any kind of plan. I have been using senior citizen health insurance for a long time which i had take for my parents. I never raised the claim request so i got discount on the premium rate when i was renewing the plan.
Kartik
Madurai, October 26, 2021
Add on cover
I am using senior citizen health insurance since last year which i had taken from the policybazaar and recently i have customized my health plan with add on cover and added some additional features to it which i got at an affordable rate.
Karun
Raipur, October 26, 2021
Low premium
I have taken senior citizen health insurance for my parents. It has Coverage against medical expenses. Pre hospitalization, post hospitalization expenses features are covered under the plan. It has low premium rate and covered huge number of benefits.
Swapan
Kota, October 26, 2021
Easy Reimbursement
I got reimbursement in hospital bills. I bought senior citizen health insurance for my mother from Policybazaar and a month back she faced some medical problems. I connected with policybazaar for reimbursement and i got it without any hassle.
Tarun
Guwahati, October 26, 2021
Pocket friendly plan
I was looking for senior citizen health insurance for a long time which I wanted to take for my father. A relative of mine suggested me the Policybazaar website. I landed to their website and checked the health plans. In the end I finally found one that came within my budget.
Tejas
Chandigarh, October 26, 2021
Affordable plan
I was looking for family health insurance for a long time. I searched a lot on Google and finally found the website of policybazaar. Here i got family health insurance according to my budget and needs. I really liked the service provided by the Policybazaar.
Ayesha
Solapur, October 26, 2021
High coverage
I have secured my family with the help of family health insurance which i have purchased from Policybazaar. In my health plan, i have got coverage for medical expenses. From now on i do not have to bear financial burden as my policy will give me financial protection.
Bahaar
Hubli And Dharwad, October 26, 2021
Good in customer handling
Policybazaar is very good in terms of handling customers. I bought family health insurance from Policybazaar and their team maintained professionalism with courteous demeanor which was absolutely impressive. I would definitely like to get in touch with Policybazaar for more plans.
Bhagyashree
Bareilly, October 26, 2021
Minimal paperwork
In my family health insurance, every member of my family are covered. there was minimal and Hassle free paperwork. I got high number of coverage and benefits under my plan. the team of policybazaar guided me and helped me to select the suitable plan.
Devika
Moradabad, October 26, 2021
Faster claim settlement
Thankfully I had taken family health insurance from Policybazaar. a while ago, i had to admitted my father to the hospital due to sudden medical emergency. i had claimed and got the claim very easily and quickly. I got faster claim settlement. I am happy with the service.

Commercial Vehicle Insurance Articles

Beginner’s Guide - Auto-rickshaw Insurance

Beginner’s Guide - Auto-rickshaw Insurance

Running a business, which requires the usage of commercial vehicles, is a common sight in India. Besides, having the right commercial vehicle insurance is recommended and is useful to ensure the smooth operation of the business. Read...
All you need to Know about Third Party Commercial Auto Insurance

All you need to Know about Third Party Commercial Auto Insurance

A third-party commercial vehicle insurance policy covers risks arising due to third party liabilities such as third-party vehicle damage, third-party bodily injury. It offers the desired protection in the event of any legal liability related...
All about Commercial Vehicle Insurance in India

All about Commercial Vehicle Insurance in India

Compared to old times today the business operates efficiently as we have excellent modes of transportation. If a vehicle is providing you with an income of livelihood you definitely will not want in anything happening to your vehicle, as any...
7 Things You Should Know About Commercial Vehicle Insurance

7 Things You Should Know About Commercial Vehicle Insurance

When you own a business, you already have a lot on your plate to think about which leads to anxiety and stress. Buying commercial vehicle insurance will secure you from any commercial vehicle perils that may happen. Secure yourself and your...
List of Motor Add-On covers Proposed to be filed with IRDA

List of Motor Add-On covers Proposed to be filed with IRDA

The insurance companies in India offering motor insurance policies need to adhere to the guidelines formulated by the Insurance Regulatory and Development Authority. If you anticipating buying motor insurance, it is of prime importance that your...