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.

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.

SBI Two Wheeler Plans & Policy

SBI Life insurance Company Limited offers a package Two Wheeler Insurance Plan 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 liability coverage, 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 Plan 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 two-wheeler package plan provides comprehensive 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.

You can also check insurance for the following bike models:

SBI Two Wheeler Insurance - FAQs

Written By: PolicyBazaar - Updated: 26 June 2020
SBI Two Wheeler Insurance Reviews & Ratings
4.9 / 5 (Based on 26 Reviews)
(Showing Newest 15 reviews)
Lakshita
K.v.rangareddy, July 07, 2020
Happy customer
I am the happy customer of policybazaar and really like the services of them .
Jitesh
S.c. Pur, July 06, 2020
A helper
Policybazaar team is doing a great job by helping me and bike to insure ourselves. A great work.
Pracheen
K.b.p. Pupri, July 03, 2020
Compare and Buy
I visited the website of policybazaar and compared various quotes and policy plans and found according to my choice.
Sukhmeet
Aallapalli, July 02, 2020
Renewal is easy
One of the best feature is that the renewing of the policy is very good and easy. My dad renewed his bike insurance policy and it was done in few minutes.
Timsy
Tadpatri, July 01, 2020
Call helpline
One of the best thing is that you can call the helpline number at each point of time. I called them and they assisted me well.
Alankita
Yamunanagar, June 30, 2020
Emergency assistance
If you really need any kind of assistance policybazaar is always there for you to assist. Any kind of emergency.
Ritwik
R.g.pur, June 29, 2020
Legal liabilities
Before buying the policy you should read the legal liabilities like not usage of alcohol or drugs at the time of driving.
Sumit
, June 29, 2020
Smooth claim process
Once you get your bike insurance done form policybazaar as well as sbi general insurance. Everything will be done smoothly and swiftly.
Carina
Machavaram, June 21, 2020
Savings
With the help of policybazaar two wheeler insurance everything is done very perfectly and I saved a lot of money.
Urvashi
Chainpur, June 21, 2020
Suggested by friend
Recently I was talking to my friend related to bike insurance so he suggested me policybazaar as he is really happy with the services. I bought it and I am happy.
MInakshi
Chaibasa, June 21, 2020
Less premium rates
The premium rates of policybazaar plans are reasonable and easy to afford.
Tarun
Vadgaon, June 20, 2020
Socially active
The whole company is socially active and if you have any concern or query you can contact them over social media and they will be easily available.
Armaan
Vadgaon, June 20, 2020
Fantastic
It was a fantastic experience to be associated with policybazaar and I really like their services.
Shanaya
Ahmedpur, June 20, 2020
Documentations
Due to fast growth of digitalisation. I am really happy that all the things are done on email basis and we don’t have to go anywhere. Get insurance at home
Dharmesh
Haidergrah, June 20, 2020
Reliable
Yes, I can truly rely on the services of the policybazaar. Thereapproach are good and positive.
Ryka
Vadnagar, June 20, 2020
Fast services
The services which are provided by the policybazaar is quite fast and they understood the needs of the customer.
Bhuvan
J. P. Nagar, June 20, 2020
My claim was easily done
Two months back I met with an accident and I approached policybazaar. I got my claim very easily.
Urvashi
Dahanu, June 18, 2020
Discount according to age
People who comes under the age bracket of 25 to 55 can avail a good amount of discounts.
Sagar
Jagdalpur, June 18, 2020
Manmade
I covers the manmade calamities like theft, loss and accident. Great way to insure your bike.
Sameer
Kabi Surya Nagar, June 18, 2020
Great support
While I got my bike insurance done from policybazaar. I got good support from there sales team. Quite helpful.
Sachin
Kabi Surya Nagar, June 18, 2020
Sports bike
I am fond of sports bikes. So, I got my sports bike insurance done from policybazaar and I really good plans.
Rishab
Kabi Surya Nagar, June 18, 2020
Discounts
Recently, My friend purchased the policy for his bike. And he got the good amount of discount.
Rishab
K.v.rangareddy, June 18, 2020
Claim done
I was claiming for my two wheeler damages and it was very easy. Just one call away.
Farhan
Jadcherla, June 18, 2020
Best insurance
I found the insurance from policybazaar very apt and best. With good benefits and also less premium rates.
Kushal
Sabroom, May 19, 2020
Damage claim
One of the best feature of this policy is that we can claim for the damages very easily and will got the claim in less time.
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