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SBI General Insurance Company Limited

SBI General Insurance Company Limited is a 74: 26 joint venture between State Bank of India and Insurance Australia Group (IAG) which began its operations in the year 2010. The aim of the company is to offer insurance products at affordable rates to make insurance accessible to all individuals and businesses.

SBI General Insurance has its reach in nearly 21000 branches of State Bank Group

The company has a huge range of insurance products from Motor, Health, Personal Accident, Travel and Home Insurance in the retail category and products like Aviation, Fire, Marine, Package, Construction & Engineering and Liability Insurance in the commercial category.

Interesting Facts of SBI General Insurance

  • SBI General’s Distribution channel includes over 19,000 IRDA certified employees and over 8000 Agents covering even the remote areas of the country.
  • It’s geographical reach covers over 100+ cities across India and over 350+ locations through satellite resources
  • SBI serves three key segment customers retail, corporate and SME

Product Portfolio – SBI General Insurance

Motor Insurance

SBI motor insurance policy not only helps you to keep your vehicle legal on Indian roads by having a valid insurance but also protects you financially if you are ever hit by an accident or a theft situation.

Private Car Insurance : This policy gives you the mandatory cover of third party liability required as per the Motor Vehicles Act, 1988. It offers coverage against any loss or damage occurred to vehicle by natural and man-made calamities. The policy further has additional riders which can be attached to the policy for extra premium. Some of the riders are NCB protection, return to invoice, key replacement, loss of personal belonging.

Two Wheeler Insurance : The SBI two wheeler policy has a mandate cover of third party liability. It covers your two wheeler against fire, explosion, accidental damage, natural causes, burglary, theft, riot, malicious act and terrorist activity. It also provides a personal accident cover of INR 1 lakh for individual owners having a valid driving license. It also has an option for covering pillion rider of the two wheeler for maximum Capital Sum Insured of Rs. 1 lakh. Accident cover limit can be increased for additional premium.

Long Term Two Wheeler Insurance : The two wheeler policy offers coverage as mentioned above but for a longer term period of two or three years with discounted premium. This ensures there are no hassles for annual renewals and any inflation does not affect its coverage. In case of a total loss or theft of the two wheeler during the first or second year of the policy period then a refund on pro- rata basis will be given of the remaining policy duration.

Health Insurance

SBI Health Insurance helps you to maintain financial balance by giving financial protection during hospitalisation. With the rising health care cost and medical inflation, it has become imperative to have a health insurance.

Arogya Premier Policy : As the name suggests, it is a premier health policy for high net worth individuals who are looking for wider medical coverage of INR 10,00,000 to INR 30,00,000. It covers ambulance charges of INR 1,00,000 including air ambulance. Traditional Indian alternative treatments like Ayurveda, Unani, Siddha & Homeopathy are also covered. Maternity expenses have a waiting period of 9 months. Reinstatement of sum insured up to 100% and no claim bonus are some of the prime features of this policy.

Arogya Plus Policy : It is a basic health insurance policy which can be bought for individual or for family. It has sum insured option of INR 1, 2 and 3 Lakhs. 60 and 90 days of pre and post hospitalisation and 142 day care procedures are covered in this policy. No pre-medical test is required for people up to the age of 55 years with no medical history. Minimum entry age is 3 months and maximum is 65 years. There is no exit age in this policy. A policy term option of 1, 2 or 3 years are available in this health policy.

Arogya Top Up Policy : This policy is designed to reinstate sum insured for payment of additional premium in case the cost of medical expenses rises. The plan offers wide coverage option of INR 1, 00,000 to 50,00,000 with a deductible option of INR 1 to 10 lakhs. People with age of up to 55 years with no medical history do not require pre-medical test for this policy. Alternative treatment of Ayush is also covered in this policy.

SBI GENERAL'S Group Health Insurance policy : This health insurance policy is meant for both individual and family. It offers wide coverage of INR 1, 00,000 to INR 5, 00,000. It has one year waiting for specific disease and 4 year waiting for pre-existing diseases. No pre-medical test is required for people under the age of 55 with no medical history. The policy offers cashless treatment in over 3000 network hospitals.

Critical Illness Insurance Policy : This critical illness policy has been designed to protect you financially by offering coverage against 13 most critical illness. Minimum entry age is 18 years and maximum age of entry for this policy is 65 years. It has two durations available that is one year and three years. Total sum insured available is up to INR 50, 00,000. The policy offers a free look up period of 15 days.

Hospital Daily Cash : This policy provides you fixed allowance irrespective of actual medical cost in the event of hospitalisation. The expenses like food and travelling which are not covered in normal health policy can be covered in this policy. The policy has an entry age of 18 to 65 years and children from the age of 3 months are covered provided both the parents are also simultaneously covered. The plan has two options of 30 and 60 days of coverage.

Loan Insurance

With the surging prices of property, purchasing a home is a big milestone and dream in one’s life if not the biggest. Along with purchasing your dream house comes the liability and responsibility of paying instalments for the house. SBI general loan insurance relieves you the nightmare thought of being a defaulter in your payment due to misfortune of an illness. The policy offers coverage for 13 critical illnesses, accidental death or permanent disablement and loss of job. The entry age for this policy is 18 to 60 years. For sum assured of 1 crore or age up to 55 years no medical test is required. Pre-existing diseases are permanently excluded from the coverage of this policy.

Travel Insurance

Trips, be it holiday or for business are exciting. We want them to go as per the plan and do not want any unforeseen events to spoil our trip. To protect you from any unforeseen events SBI’s travel insurance provides comprehensive cover for you and your family for your trip. It covers for medical and other financial emergencies during your trip abroad. Medical coverage of up to USD $ 0.5 million and allowance as per emergencies are available in this policy.

Other Plans offered by SBI General Insurance

  • Home Insurance
  • Personal Accident

SBI General Insurance Claim Process

  • Please call on toll free number 1800 22 1111 or SMS "CLAIM" to 561612 and get your claim number / reference number.
  • Company's customer care representative will guide you with the details of the documents required for initiating and processing your claim.
  • You will be informed when your claim is registered by Claims Manager / Executive within 24 hours of registering the claim.
  • Submit all the required documents as advised to the Claims Manager / Executive and get them verified against the originals.
  • Claim will be settled within 30 days of receiving last relevant and necessary document.

Review of SBI General Insurance

SBI is a reputed banking institution in India and it has a vast network and reach due to the bank branches located everywhere in the country. SBI General Insurance is offering good insurance products with flexibility in plans for different requirement of individuals. The claim process is simple and the company enjoys a good reputation in the Indian market.

Contact Details of SBI General Insurance

Corporate Office and Registered Office

SBI General Insurance Company Ltd. "Natraj"

101, 201 & 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)

FAQs on SBI General Insurance

What grace period do I have under Arogya Premier Policy for renewal?

Grace period of 30 days is allowed for renewal under Arogya Premier Policy.

Are pre-existing diseases covered in a Loan Insurance policy?

Pre-existing diseases are permanently excluded from a Loan Insurance policy.

Is there any medical check-up required in Travel Insurance policy?

No medical check-up is required before issuance of Travel Insurance policy.

What are the exclusions of a two wheeler insurance policy?

Some of the main exclusions are mentioned below:

  • Breakdown due to normal wear, tear and ageing of the vehicle
  • Depreciation or consequential loss
  • Mechanical or electrical breakdown
  • Vehicle being used otherwise than in accordance with limitations as to use
  • Damage by a person driving the vehicle without a valid license or under the influence of drugs or liquor

Please refer to policy document for detail exclusions of two wheeler policy.

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