SBI Third Party Bike Insurance

SBI General third-party bike insurance is a two-wheeler insurance policy covering the insured for any damages an individual's bike can cause to a third party vehicle, person, or property, during an accident. Having third-party bike insurance is also mandatory as per the Motor Vehicles Act. SBI Third-party bike insurance covers all costs and expenses to meet third-party legal and financial liabilities.

Read more
Insure bike in 60 seconds
1.1 Crore+ Bikes Insured
94% claims settled#
Ride your Two-Wheeler Worry-Free with Zero Challan Fee!⚡
Plans starting @ ₹1.3/day*
Enter bike number (e.g DL1SB1234)
Processing

SBI Third-Party Bike Insurance vs. Comprehensive Bike Insurance

Categories Third-Party Bike Insurance Comprehensive Bike Insurance
Coverage This insurance policy is designed to cover the damages caused to a third party person or vehicle by the insured vehicle This type of bike insurance policy is designed to cover damages incurred by both the third party and own damages
Nature of requirement Third-party bike insurance is compulsory as per the Indian Motor Vehicles Act It is not necessary but is recommended for higher coverage benefits
Availability of add-ons There are no add-on options under this policy You can choose from a variety of add-on covers at a nominal extra premium
Premium Due to the limited coverage provided under this insurance, it costs less than comprehensive bike insurance As this insurance provides a variety of coverage, including add-ons (if desired), this insurance costs a bit more than the third-party bike insurance

What is covered under SBI third-party bike insurance plan?

The following coverage is provided to customers who wish to avail of the SBI third-party bike insurance:

  • This type of two wheeler insurance bears the cost of losses incurred by the insured's bike to the third party, which may be a person, a property, or a vehicle
  • Up to Rs 1 lakh property damage cover is provided
  • Suppose the accident causes any damage to the third party, such as injuries, any disability, or death, by the insured's bike. In that case, the third party is compensated by the Insurer

What is not covered under SBI third-party bike insurance plan?

SBI third-party bike insurance policy does not provide a wide variety of coverage to customers. The exclusions under this third-party bike insurance are given below:

  • Any loss or damage incurred by the insured or the pillion rider
  • Loss or damage due to unlawful activities
  • Claims files for loss or damage incurred due to drunk driving
  • If the policyholder is found to be without license at the time of incident
  • There is no personal benefit for the policyholder. Any type of damage incurred by the policyholder’s bike will not be compensated

FAQs

  • Q1. Is buying third-party bike insurance necessary in India?

    Yes, it is mandatory by law for every person that owns a bike in India to possess at least third-party bike insurance. If one is caught and doesn't have third party bike insurance, they will be fined heavily by the police, and in some cases, they might even be imprisoned.

  • Q2. What benefit do I get by opting for SBI third-party bike insurance?

    The person who opts for SBI third-party bike insurance does not get any insurance benefit for himself or the bike. The policy only covers the third party losses or damages from the insured’s bike.

  • Q3. Why is SBI third-party bike insurance less expensive than comprehensive bike insurance?

    Third-party bike insurance is less expensive than comprehensive bike insurance. It also has no option for an individual to opt for add-ons, unlike the comprehensive bike insurance plans.

Explore Two Wheeler Insurance
Bike Insurance
Bike Insurance Companies
e-Bike Insurance

Two Wheeler insurance Articles

  • Recent Article
  • Popular Articles
26 Jul 2024

Get PUC Certificate Renewed Amid Protest by...

Amid the ongoing strike by the Delhi Petrol Dealers Association

Read more
20 Jun 2024

PUC Certificate Test Costs in Delhi May Rise Due...

According to the Transport Department, all the vehicle owners in

Read more
10 Jun 2024

Common Problems Faced by Bike Owners and Their...

As a motorcycle owner, you might face various problems that

Read more
07 May 2024

10 Best Bikes for Long Rides in India 2024

Are you the one who want to cruise through the winding roads of

Read more
01 May 2024

MCWG Driving License in India

To regulate and ensure safe operation, every motorbike owner in

Read more

Three Easy Ways to Check Bike Insurance Expiry...

As significant as it is to buy a bike insurance for your motorbike, it is equally important to renew it timely

Read more

Vehicle Owner Details by Registration Number

Vehicle owner details can come in handy in various situations, such as road accidents, cases of reckless driving

Read more

How to Check Bike Owner Details by Registration...

In a world full of different types of two-wheelers, each one has its unique identity enclosed in its registration

Read more

How to Get Bike Insurance Details by Registration...

According to the IRDA, all bike owners must hold at least a third-party bike insurance policy in India. The bike

Read more

Get Your Vehicle Fitness Certificate from RTO

The Fitness Certificate (FC) of a vehicle is an official document that certifies the vehicle is fit enough to run

Read more

SBI Third Party Bike 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.
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.
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.
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.
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