SBI Two Wheeler Insurance

SBI General Insurance Company is a joint venture between two companies namely the State Bank of India and Insurance Australia Group (IAG). State Bank of India owns 74% of the company while the Insurance Australia Group owns the remaining 26%. The year of 2013-14 was the fourth year of operation of the company where the company registered a growth of 54% by writing a Gross Premium of 1188 crores. In the same year, the company in association with State Bank of India covered over 1.5 Crore Saving Account holders of the State Bank of India with a Group Personal Accident Insurance cover.

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SBI General insurance company offers different categories of insurance plans including motor insurance, health insurance, travel insurance, personal accident insurance and home insurance for individuals. Other specialized insurance plans include aviation insurance, fire insurance, marine insurance, package insurance, construction & engineering insurance, liability insurance, group health insurance, group personal accident insurance and miscellaneous insurance plans for businesses.

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SBI Two Wheeler Plans & Policy

SBI General Insurance offers a package bike insurance which not only covers the third party liability which is mandated by the Motor Vehicles Act but also a loss to own vehicle due to various causes. Let us take a look at the various features and benefits provided by the package two-wheeler plan offered by SBI General Insurance in details.

Features & benefits of SBI Two Wheeler Insurance

  • It is a package policy which covers the Compulsory Third Party Liability and also damage or loss to own vehicle
  • Under the third party bike insurance, the plan covers any bodily injury or death caused to the third party due to the use of the two-wheeler and also any loss or injury to the property of the third party due to the use of the two-wheeler
  • Under the own vehicle damage or loss, damages or loss arising out of the following causes is covered:
    • Natural calamities like earthquake
    • Man-made calamities like theft
    • Personal accident for owner-driver or the registered driver
  • The plan comes with a profile based customized pricing policy wherein the premium varies from individual to individual
  • Individuals aged between 25-55 years can also avail a discount in the rate of premium charged
  • If the vehicle is continuously insured with the company without any break, there is an additional discount in the rate of premium charged by the company
  • The plan also has inbuilt as well as additional optional covers which can be availed by an individual for a more comprehensive scope of coverage under the plan
  • Individual owners of the two-wheeler enjoy a compulsory personal accident coverage, which is built-in under the plan up to Rs.15 Lakh. It is not applicable to vehicles that are owned by a company.
  • The pillion rider may be included in the Personal Accident Cover of up to a maximum of Rs.15 Lakh by paying an extra premium
  • Another optional cover is the increment of the Personal Accident cover on the own driver, which can be increased from Rs.1 Lakh to any amount by paying a small additional premium. You can also increase the coverage limit.
  • There is a provision of No claim Bonus under the plan wherein if there have been no claims in a policy year, there is a discount in premium which can go as high as 50%. The No Claim Bonus is applicable only if the renewal of Bike Insurance is done within 90 days from the date of expiry of the previous policy. Moreover, there is also a provision of transferring the complete benefits of No Claim Bonus when porting the two-wheeler insurance plan from other insurance companies

Exclusions under SBI Two Wheeler Insurance Plans

Though the comprehensive bike insurance provides complete coverage, there are certain conditions which are excluded from the scope of the coverage provided. The following list shows the exclusions applicable under the plan wherein damage to the vehicle or its accessories due to the following circumstances is excluded.

  • Aging of the vehicle or depreciation
  • Electrical breakdown or even mechanical one
  • Driving without a valid license or under the influence of alcohol or drugs

Why SBI General Two Wheeler Plan?

Any customer wanting to buy an insurance plan always wants to have a smooth claim processing and handling experienced from the insurer. SBI General has a dedicated and experienced team to handle the respective claims raised by individuals. The team strives to provide a fast and fair claim settlement experience so that the customer does not have to undergo useless hassles. To meet this objective, the claim handling a team of the company strives to do the following things:

  • They try to provide assistance in situations which are emergent in nature
  • They help in relieving down the relevant stress associated whenever a claim arises by coordinating repair and replacement of the vehicle
  • They keep the customer informed about the progress of their claims
  • They also help the customers to access the company’s preferred local service providers who handle the damaged vehicle properly with a promise to service it in the most efficient possible way.

With all these efforts, the claim handling a team of the company is efficient and manages to treat the customer’s claim quickly and fairly.

Applying for an SBI Two Wheeler Insurance Plan

The company offers a Package Two-Wheeler Plan application through multiple channels like:

  • Individuals desirous of availing any plan can simply call the helpline of the company and speak to the customer service representative.
  • They can provide their name, mobile number and email id on the website of the company and request for a callback
  • Online Individual Personal Accident Plans can be simply applied to by clicking the ‘Buy Online’ tab mentioned on the plan page on the website of the company.
  • The customers can also write to the company at their email id which is customer.care@sbigeneral[dot]in for any related queries.

SBI Two Wheeler Insurance - FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 42 Reviews)

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SBI Two Wheeler Insurance Reviews & Ratings

4.8 / 5 (Based on 42 Reviews)
(Showing Newest 10 reviews)
Amrutanshi
Guwahati, October 09, 2021
Easy to buy
Insuring the bike is quite easy. Policybazaar provides the easiest process to buy any kind of policies. customers can easily compare different plans on one platform and calculate the exact premium rate with the help of premium calculator. I went through the same process and it was really easy.
P
Madurai, October 09, 2021
Supportive team
I never bought policy before this. i have taken the sbi general two wheeler insurance from policybazaar. i bought my plan with help of policybazaar team . they guided me and explained every single step of procedure to me. Their team always gives the best suggestions to their customers.
Prakhar
Raipur, October 09, 2021
High coverage
In my sbi general two wheeler insurance, i have got coverage against unplanned incidents. i have got coverage not only for the insured vehicle but also for the personal accident of the driver/owner. i have added pillion rider feature by paying an additional amount.
Akshat
Chandigarh, October 09, 2021
Affordable plan
After searching affordable plan for bike on Google i found the website of Policybazaar. in my sbi general bike plan i have got coverage against damages or losses to the insured bike due to accident. i have got little discount on the premium rate.
Rimzhim
Kota, October 09, 2021
Easy to buy
It is way convenient to check the plans on the website of Policybazaar. The interface of the website is user friendly and all the information regarding each policy is given on the website. Even I bought sbi general bike plan online from here.
Ritika
Vasai Virar, August 18, 2021
Easy to compare
I got a great package of SBI Two wheeler policy from policy bazaar website.i just bought a bike 2 months ago. one of my friend suggested me to insure my bike. after comparing so many plans i took right one according to my pocket.
Vishwas
Gorakhpur, June 04, 2021
Good coverage
The coverage amount of my two wheeler insurance plan is much better and good. I kept it high so that in case I faced any emergency then it can be used easily and I wont face burden.
Surendra
Basti, June 04, 2021
Roadside assistance cover
In my SBI general insurance plan, which I took 3 years back I had taken the cover of roadside assistance. The plan is naturally very good and I am happy with the services of the team. Even I have suggested many of my friends to buy this plan.
Harbhajan
Balia, June 04, 2021
Affordable two wheeler plan
I took the SBI general two wheeler insurance plan from the website of the Policybazaar. It is very much affordable and easy to buy online. I can even customized my plan as per my requirements. I am thankful to policybazaar for giving such good plans.
Shravan
Odagoan, February 15, 2021
Liability Cover
I bought third-party liability cover for my bike. They called me to check if I bought the right policy or want to upgrade the plan. They always help me suggest policies with maximum coverage as per my pocket.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between 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.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#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.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis