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State Bank of India is a brand which has been an integral part of India since it walked on the path of finance. It has kept up with modernization and digitization of the economy while retaining the age old trust and age old convenience of consumers.
As most big names offer the best of services, State Bank Of India is known to walk ahead in its services and always has you covered by the safety of government regulated laws. After putting your needs ahead, this bank does not only provide you a provision to place your quotes but also makes sure that you get the best option for the services under your budget.
The best part about SBI is that, there are various insurance options which are associated with them. For somebody who does not understand the intricacies of the insurance world and needs help right since the word go, this is the best bank to sign up for.
The online portal also comes as a great boon for the consumers. The portal explains everything to the potential buyers step by step and gives out instant quotes. The portal features the best of policies tailored for your convenience. The policies are drawn out after carrying out a lot of latest research and data. These features make SBI a favourite option for potential insurance buyers. In this article, we will be talking about SBI Two Wheeler Insurance to know why it is one of the best two wheeler insurances in the market.
India has maximum cities with a high number of two wheelers which keep on increasing every day. It is mandatory to get insurance and there are many options that you can choose from. But, SBI Two Wheeler Insurance stands out for various reasons. Firstly, it is a leading insurance of the country. Secondly, it believes in research and data and has their rates as well as policies updated in accordance to the IRDI.
Two-wheeler maintenance looks really easy but sometimes some incidents cannot be gauged in. To make sure that you do not get caught in the loop of unfortunate incidents, issuing these insurances will keep you armed to fight any unpredictable situation. Now, you might pick out just the third party liability insurance because you are made to, but the comprehensive insurance is what most of the leading insurance companies stand-by.
Both of them have a lot of difference in the services that they offer and while the first one just makes sure you are in a position to fill in somebody else’s loss, the comprehensive type ensures that you are in a position to take care of an unfortunate circumstance that you encounter due to a two wheeler accident
SBI Two Wheeler Insurance is one of the leading names when it comes to two wheeler insurances in the market. The quotes that they offer and the services that they provide to the consumers are exemplary. The employees are always there to help you and the claim is done within a reasonable window. The procedure is also simple and it is made sure that you are helped out in the time of need.
If you need a step by step procedure and need help at every step, then SBI is here to help you. While buying the two wheelers, not a lot of people think of the worst that can happen. A lot of youngsters buy two wheelers, but do not fully understand the repercussions of anything going wrong. They also skip out on buying a good insurance as this looks like a short term saving, but in reality- they end up missing out on a long term investment. To make sure that you get out of detrimental situations and have a back up when needed, you should get a good insurance.
When a lot of leading insurance companies offer the best of policies to a potential buyer, then the buyer gets confused and starts a uniformed pursuit of research and data of his own. This is when; SBI stands out by offering a quote as per your own needs and budget and helps you to make an informed decision completely.
There are various offerings of SBI Two Wheeler Insurance making it a great option to buy two wheeler insurance in the market:
1. It takes care of losses related to damage and stealing as well.
2. You are provided with a customized pricing which is based on your personal profile
3. If you are aged between 25-55, then you can avail various discounts.
4. You can insure a vehicle without a break and enjoy additional discounts.
5. As per the motor vehicles act, the policy covers the bare minimum and the mandatory Third party liability. This is a part of the policy already.
6. The third party liability saves you from any legal trouble that can crop up. It also helps you from paying any additional costs if the damage is caused to a third party.
7. If there is a loss that occurs due to any of the below causes, then the insurance covers it completely. These causes range from- Explosion, self-ignition, fire, accidental damage by external means.
8. If there is any damage caused in transit by road, elevator or air, rail and inland waterway or lift then the insurance covers that.
9. The insurance also factors in natural disasters such as - Earthquake, storm, flood, typhoon, lightning, hurricane, cyclone, hailstorm, frost, landslide and rockslide.
10. Insurance can be covered by Burglary, strike, theft, malicious act, riot and terrorist activity.
11. While the third party liability is covered only in the basic insurance, you get the best of both when you purchase a comprehensive insurance. It is always advisable to buy the latter as this helps you more when you need it.
12. You can also find out and purchase an additional insurance for the pillion rider
Here are some of the most frequently asked questions in relation to SBI Two Wheeler Insurance:
1. What is the list of documents that is required when you need to claim the insurance?
The entire list is explained in the policy, some of the most common ones are
• Duly completed claim form
• Original estimates of loss
• RC print of the vehicle
• Payment receipt and Repair invoice
2. How do I make a claim if my bike is stolen?
After filing an FIR, you need to get a non traceable certificate in order to submit to your insurance company.
3. What documents are needed to buy a new policy?
You need a copy of the previous insurance along with a Registration certificate.
4. Which factors decide a premium for a new bike?
The factors that decide the premium are The IDV (Insured Declared Value), Zone of Registration, the Cubic Capacity and the Age of Bike (in case of third-party insurance).
5. What is the premium determined on after the policy expires?
If the No claim bonus is not availed for 90 days, then there is a chance of you ending up losing the entire sum. Otherwise the premium does not go through a major change. The hassle rises because you need to get the bike checked all over again?
6. What does the term third party insurance mean? Is comprehensive insurance actually better?
The third party insurance is mandatory that you need to buy since you are legally bound to pay damages if you go through an accident and it is your fault. It’s not meant to cover injuries or the bike repair, so it is always better to go for a comprehensive insurance to get more types of damages covered.
7. What does the term voluntary deductible mean?
It is the basic amount of money that you need to pay to process a certain claim. The voluntary deductible depends on the amount that you wish to claim. Basically the relation is such that- the lower the premium you pay, the higher the voluntary deductible. You need to make a payment which is monetary, when you need to make a claim.
8. Can the pillion passenger get a cover in the comprehensive policy?
Unfortunately, the pillion rider cannot claim the comprehensive policy. But, he can take up additional rider insurance so as to not get into a problem when an accident occurs.
Conclusion:The content covers the features of SBI Two Wheeler Insurance and covers the best features of the policy offered. The article also talks about the trust factor that comes with PolicyX and also the comparison feature. It also covers the most Frequently Asked Questions related to two wheeler insurance.