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SBI Car Insurance

SBI Car Insurance Online

State Bank of India is India’s leading public sector bank with known branches across India as well as abroad. Established as a joint venture between State Bank of India and Australian based Insurance Australia Group, SBI General Insurance provides a multiple range of tailor-made car insurance plans that fit your vehicle needs.

Key Features of SBI Car Insurance

  • Comes with a compulsory Personal Accidental Plan of ₹2 lakhs for individual owners with a valid driving license. It also covers the any of the occupants in the car for ₹2 lakhs per person.

  • Provides cover for Third Party Liability (as mandated by the Indian Motor Vehicles Act).

  • Covers damages arising out of natural calamities and disasters like flood, storm, burglary, robbery, theft or any act of terrorism.

  • Provides cover against additional legal liabilities to the employed driver and employees driving the vehicle other than the chauffeur.

  • Comes with a facility of nil depreciation, where you get the complete claimed amount without any deduction on the depreciation value on the parts of the car..

  • Provides cover for CNG LPG Bio Fuel Kit.

  • You can avail NCB facility - No Claim Bonus, on payment of additional premium.

Key Benefits of SBI Car Insurance

The following benefits can be availed with the payment of additional premium.

Depreciation waiverThis is applicable only on replaced parts which are not categorized under total loss. This includes CNG LPG and Bio Fuel Kit.
Protection of No-Claim BonusThe NCB benefits, whether accrued or due will continue irrespective of claims made under the following status:
  • A particular policy must be renewed with SBI General Insurance i.e. the policyholder does not switch to another insurance company.
  • Only a single claim was made over one policy period.
  • Ensure that the damage repairs were undertaken in a listed network garage.
  • With respect to discount, the renewal will be equal or same as the given/awarded before the claim.
Replacement of keysIn case of lost or stolen keys, the expenses made to make duplicates or repair broken locks at authorised garages will be reimbursed within specified limits i.e. 10% (with co-payment of total costs) or Rs.500, whichever is higher.
Recompensing paid employeesIn case of passengers such as a hired driver, employees of the policyholder, passengers, who were driving the car, will receive all legal dues payable.
Personal belongings coverFor losses arising out of damaged or lost belongings in the car, of the insured party only, will be recompensed for up to Rs.50,000 (subject to deductibles ranging between Rs.500 to Rs.5,000)
Invoice ValueUnder this benefit, the insured will receive, from the insurance company, the difference between the claim payout and the actual value of the car (the actual value being the amount paid as evinced by the original invoice)

SBI Car Insurance Coverage

All liabilities, damages and expenses arising out of damages to any third-party are covered. All losses and damages arising out of death or bodily injury or property impairment and own damage liability are covered. Scenarios such fire, natural disasters, and mishaps during transit, theft, civil unrest, war, terrorism and related acts are covered for.

Damages arising in case of personal accidents:

  • Cover of ₹2 lakhs to the vehicle owner.
  • Passengers, apart from the owner driver can also make a claim for an amount of ₹2 lakhs each.

Add-on Features of SBI Car Insurance

Age Related Discounts: This is given to individuals aged between 36 to 60 years of age. It comes with the following features:

  1. Track Claim Application and Status Updates.
  2. Avail a Transparent Claim Process.
  3. On-road Emergency Assistance.
  4. Guidance through the process of repairs and replacement.

Voluntary Deductible: Option to select some amount of the claim payable, you can avail premium discounts on the same.

No Claim Bonus: This is given as per the mentioned conditions.

  1. Non-claim policy period.
  2. Up to 50% of premium due.
  3. Upon renewals within 90 days of policy expiry.
  4. Transfer of no-claim benefits from the existing insurer to another.

Online Facility: Not only can you purchase new plans online but also renew your existing ones from the official website of SBI Car Insurance.

Exclusions of SBI Car Insurance

Exclusions are conditions which are not covered under any Insurance Provider. Mentioned below are exclusions under SBI General Car Insurance:

  1. Any form of consequential loss.
  2. Mechanical or electrical fallouts.
  3. Loss in the value of the vehicle due to wear and tear, depreciation.
  4. Damages arising out of overusing the car’s limitations.
  5. Damages arising out of war or nuclear fallout.
  6. Driving without a valid license, under the influence of alcohol, neglectful driving, and rash driving.
  7. Damages due to extensive modifications or accessories .

SBI Car Insurance Customer Care

With respect to any queries, doubts and clarifications, you can contact SBI General Car Insurance Customer Care toll free number at 1800 22 1111. You can also register your service request via callback from the service executive.

Additionally, you can also locate any of the branches across PAN India through their online branch locator. It also comes with an extended feature of locating a network listed garage.

The registered contact address is as follows:

SBI General Insurance Company Ltd. "Natraj" 301, Junction of Western Express Highway & Andheri Kurla - Road, Andheri (East) Mumbai - 400 069.

Office Timings: 9:30 a.m. to 6:30 p.m. (Monday to Friday)

Toll Free: 1800 22 1111 / 1800 102 1111

Car Insurance: SMS MOTOR to 561612

To update your email id SMS UPDATE < CUSTOMER > < EMAIL ID > to 561612

Claim Process of SBI Car Insurance

In case of an accident or loss or damage, the first thing is to call the customer care and brief them of the incident. The service executive will assist you in making a claim and provide you with a claim reference number. You need to download the claim application form and submit it with the following documents:

  1. Self-attested legible copy of the Registration Certificate.
  2. Self-attested legible copy of Driving License of the driver at the time of the accident.
  3. Attested copy of FIR in case of Third Party Damage.
  4. Details of Third Party Damage.

After this, a surveyor or inspection officer will be sent to inspect the damages occurred to the car. Only after successful inspection, the car is put forward for claim settlement.

What is Insured Declared Vehicle?

The insured declared vehicle is the sum assured, it is the manufacturer’s selling price adjusted for depreciation. The rate of depreciation to be adjusted in order to derive the IDV is based on the age of the car.

  1. 5% up to 6 months.
  2. 15% between 6 months and 1 year.
  3. 20% between 1 year and 2 years.
  4. 30% between 2 years and 3 years.
  5. 40% between 3 years and 4 years.
  6. 50% between 4 years and 5 years.

Reviews of SBI Car Insurance

With an excellent claim settlement ratio, SBI General Car Insurance has a strong multi-distribution model comprising of bancassurance, agents, brokers and retail direct channels. The current strength is over 21,000 IRDAI certified employees including the State Bank Group employees along with 8000 insurance agents who have successfully furnished insurance policies even in the most rural areas of India. 1500+ network garages and excellent incurred claim ratio of 102.07% has made SBI Car Insurance the most trusted amongst the Indians.

FAQs on SBI Car Insurance

What is premium? How to pay premium for SBI Car Insurance?

Premium is the amount you are required to pay for purchasing the policy cover. You can pay SBI General Car insurance via branch banking/online banking/debit/credit/net banking.

How can I make a claim settlement for SBI Car Insurance?

For making a claim settlement, you need to call SBI General Car Insurance toll free customer car care number and initiate the claim process, you can also download the I-claim form and email them for the same purpose.

What documents are required for making a claim?

You are required to submit the following documents for making a claim settlement - Policy Document, RC Copy, Claim Form and Driving License.

What if I lose my insurance policy?

You can get a new one by simply visiting the nearest branch and submit a written request.