Sehwag PX
SBI Car Insurance
  • 24000+ Branches
  • Cashless Garages
  • Easy & Hassle Free Claim Settlement
  • Multiple Plans Available
  • Highest Claim Paying Ability

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SBI Car Insurance

SBI General is one of the leading general insurance companies in India. The company was founded in 2010 and it is a renowned general insurance company with experience of many years in the same industry. It is a joint venture between State Bank of India and Insurance Australia Group (IAG). The company caters to different needs of its customers with innovative products such as SBI car insurance, health insurance, home insurance and much more. The company is offering all great products at affordable prices. The company has its branches in all over the country. SBI General Insurance is currently serving three key customer segments i.e. Retail Segment (catering to Individual & Families), Corporate Segment (catering mid to large size companies) and SME Segment.

24000+ Branches

The company has multiple branches all over the country that means you will be able to connect with the team easily in the hour of need.

ICRA

SBI General Proudly retains the iAAA rating for its "highest claim paying ability".

Satellite Presence

Satellite Presence

The company has a strong Satellite Presence in more than 350 locations.

Key Features Of SBI Car Insurance

Transparent Service

Transparent Service

The company is great when it comes to offering transparent services without any hidden costs or facts.

Cashless Garages

Cashless Garages

Thousands of cashless garages can provide the required service in the hour of need without paying a single penny.

Multiple Plans

Multiple Plans

There are multiple plans available at affordable prices and great features that you can use to insure your car.

Claim Settlement

Claim Settlement

The company is offering easy and hassle-free claim settlement for the ease of customers.

SBI Car Insurance Plan

To deal with all your car insurance needs, SBI car insurance has come out with an innovative and high in features plan for you.

Motor Private Car Insurance

It is a comprehensive motor insurance policy that does offer complete coverage to the insured vehicle and third-party liability as well. The plan will cover theft and damages caused to you and a third party also.

Private Car Insurance Key Features

  • Comprehensive Cover: The plan offers complete coverage to your vehicle including third party liability cover.
  • Natural and Man-Made Disasters: The plan provides coverage against natural and man-made disasters that include theft, fire, storm, floods and much more. It offers Legal liability for paid drivers and employees.
  • Cashless Claim Networks: Cashless claim service over 1500+ authorized network of garages across India.
  • Discounts: Discount on the premium is available if you opt for a Voluntary Excess in addition to the Compulsory Excess.
  • Accidental Cover: Occupants of vehicles can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs. 2 lakh per person.

Why SBI Car Insurance?

There is always an element of risk and danger out there on the roads. We are witnessing a disturbing trend of road accidents owing to the steep incline in the number of motor vehicles on the roads. Give your vehicle the care and protection it deserves with SBI Motor Insurance. This policy offers to cover your losses caused by the damage or theft of the insured vehicle. It also has some add-on benefits which you can get for an extra premium.

Insuring your vehicle will give you some peace of mind and let you go about your life without worrying about such incidents. SBI car Insurance offers a fast track, fair and transparent claims procedure that lets you stay in control of the process. Itís trained and experienced claims experts aim to deliver differentiated customer service and speedy settlement of your claim. If you are not satisfied with your claim settlement you can address your concerns to the online grievance mechanism wing, which will get in touch with you in 72 working hours and respond upon completion of the investigation. If your issue remains unsolved, you may approach the Insurance Ombudsman for Redressal. Their claims service will provide:

  • Assistance in emergencies
  • Stress-free claims by co-ordinated repairs and service of your vehicle
  • Updates about the progress of your claim
  • Choice of accessing preferred local service providers

Things You Should Know

The SBI car insurance policy stands out in respect of some exclusive features like Bi-fuel kit, additional cover for key replacement and loss of personal belongings. In a country like India where agriculture is the major occupation, SBI's farm vehicle insurance initiative is sure to benefit the farmer masses.

SBI car insurance policy is framed to cover the mandatory third-party liability as required by the Motor Vehicles Act of 1988, while also covering loss or damage to the insured vehicle. Third-party liability protects the insured from legal liability arising out of damage to third party property or bodily injury/ death of a person caused by the use of the insured vehicle

Loss or damage to the insured vehicle will be compensated by the insurer caused by events like:

  • Accident by external means
  • Theft, break-in, burglary of a vehicle
  • Fire, explosion, self-ignition, lightning
  • Transit by road, rail, inland waterways, lift, elevator or air
  • Natural calamities like earthquake, flood, cyclone, landslide

The policy provides a compulsory Personal accident cover of 2 lakhs for individual owners. However, the insurer will not be liable to damage or loss of insured vehicle caused by general wear and tear, depreciation, mechanical and/or electrical failure, the person driving without a license or under the influence of alcohol or drugs.

Add-On Covers For SBI Car Insurance

  • Depreciation Cover: With the same add on the cover, you will get the full claim amount without any deductions. It offers 100% payment repayment.
  • Third-Party Cover: The plan offers coverage against any legal liability on the third party that includes bodily injury to/on the death of a person and any damage caused to third party property.
  • Personal Accident Cover: Occupants of vehicles can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs. 2 lakh per person.

SBI Car Insurance Online Policy Renewal

You can renew your policies online with SBI car insurance without undergoing the hassles of waiting at banks. It offers a renewal of existing/ expired policies of other insurers. Its customer support representative will schedule an inspection of the vehicle as per your convenience and once it is completed you can pay the premium to get your policy renewed. You can also get an estimate of your insurance premium with its calculators that give you a quotation.

SBI Car Insurance Plan Discounts

A discount is offered on the premium if you opt for a Voluntary Excess in addition to the Compulsory Excess. Other discounts available are Automobile Association Membership Discount, the concession of 50% on OD premium for specially designed/ modified vehicles for use of differently-abled persons and Tenure Discount.

  • No-Claim Bonus is awarded For every claim-free year On renewal (within 90 days of policy expiry). Up to 50% of premiums due.
  • Transfer of no-claim benefits from or to another insurer.
  • Apart from the compulsory deductible, the policyholder might have to pay the voluntary deductible option under this plan.
  • Age-related discounts are given to customers between 36 years to 60 years.

FAQs

No Claim Bonus is valid up to 90 days from the expiry date of your previous policy. If you don't renew within 90 days, No Claim Bonus will become 0% and no benefit will be passed on to the new policy.

Your existing vehicle car has to be sold off based on which your existing insurance company will issue an NCB reserving letter. This benefit can be transferred to the new vehicle

You can easily renew your expired policy online. All you have to do is fill out the application and upload the documents. Once the documents are approved a payment link will be sent through which you can easily renew your policy. Once you make the payment, you will get the policy copy.

The documents required to cancel the policy by the customers are as follows

  • Customer Request Letter
  • Original Policy Copy
  • Sale proof of the vehicle or Sale Deed/Form 29&30 along with RTO acknowledgment. (in case of vehicle sold)
  • Alternate policy proof (TP / Comprehensive)
  • NOC from the financer if the vehicle is seized by the financer.

A non-premium bearing endorsement is an endorsement under which no additional premium is charged

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Last updated on 24-12-2019