Two Wheeler Insurance from SBI

While buying a two wheeler is great, your job does not end with the purchase. You must also ensure that this asset is protected against all risks including loss or damages.

It offers an excellent and hassle-free claim settlement process.

Hence, SBI provides comprehensive two-wheeler insurance plans for vehicle owners so that they don’t have to worry about a thing. The company offers plans that offer third party coverage, quick settlement and lucrative discounts for customers aged between 25 to 55 years. This makes the company a reliable provider in the two wheeler insurance space.

Key Features – SBI Two Wheeler Insurance

Third Party Cover: Offers third-party insurance cover in case of death or bodily injury of a third-party, property damage to the third-party up to Rs.1 lakh and personal accident cover for the owner driver
Quick Claim Settlement: Offers hassle-free claim settlement efficiently
Basic cover + Personal accident cover for passengers: Offers a basic two wheeler insurance cover along with personal accident cover for an amount of Rs.1 lakh for the co-passenger

Key Benefits – SBI Two Wheeler Insurance

Customer Service: SBI Two wheeler Insurance has an excellent team of customer service that offers good and hassle-free pre-sales as well as post-sales services
Claim Settlement: This Company has a very clean record for claim settlement.
Discounts: This Company offers discounts on premiums for customers who are aged between 25 and 55 years. Also offers additional disco
Transfer of NCB: SBI Two wheeler Insurance offers transfer of NCB in case you want to port your policy with another insurer
Affordability: SBI Two wheeler Insurance offers affordable rates with customized plans
Long term policy: This Company offers long term two wheeler insurance policy for 2 or 3 years at a discounted rate
Trouble-free Inspection: Offers simple, hassle-free and unperturbed surveillance by the inspection team

SBI Two Wheeler Insurance Coverage

SBI Two wheeler Insurance Policy can be tailor-made for your bike to get insurance. It is important to understand the coverage before actually opting for a two wheeler insurance policy. It is essential to cover your bike sufficiently to protect it from theft, damage or accident.

Own Damage

This policy covers any damage or loss to your two wheeler due to any of the following things:

Fire, explosion, self-ignition or lightning.
Burglary, housebreaking or theft.
Riot and Strike.
Malicious Act.
Terrorist Act.
Earthquake (Fire and Shock) Damage.
Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone and Hailstorm.
Accidental external means.
Whilst in transit by road, inland waterway, lift, elevator or air.
By landslide/Rockslide

Third Party or Liability

This policy is mandatory by the Motor Vehicle Act 1988 for all the vehicles plying on the Indian roads. It offers the below coverage:

Covers bodily injury and /or death of a third party
Property damage to third party up to Rs.1 lakh
Personal Accident cover for owner driver

Personal accident cover for owner-driver

SBI two wheeler Insurance will pay sum insured of Rs.1 lakh to the owner-driver of the insured vehicle in case of permanent total disability or to the beneficiary in case of accidental death
An accident can leave you impaired to earn your as well as your family’s earning. Additionally, rising costs of medicines can rip off your entire hard-earned savings. In such traumatic and unforeseen situations, having a personal accident insurance would act like an income replacement

Type of Injury Compensation Level in case of personal accident cover for owner-driver

Death - 100%
Loss of two limbs or sight of two eyes or one limb and sight of one eye - 100%
Loss of one limb or sight of one eye - 50%
Permanent total disablement from injuries other than named above - 100%

Add-on Features – SBI Two Wheeler Insurance

SBI Two wheeler insurance offers amazingly unique add-on covers that offers an extra touch of protection at a minimal rate. These add-ons enhances your basic insurance policy by paying an additional premium.

Pillion Rider

The SBI Two Wheeler Insurance Company offers a maximum sum insured of Rs.1 lakh under which the pillion also gets covered by paying an extra premium

Increment on the Personal Accident Cover

The SBI Two wheeler Insurance Company offers an add-on where you can increase the amount of the personal accident cover from Rs.1 lakh to any amount by paying a minimal extra premium.

Discounts offered – SBI Two Wheeler Insurance

No claim bonus

You are eligible for a NCB discount on your own-damage premium for every claim-free year .It starts with 20% for the first year and can go as high as 50% over 5 consecutive claim-free years. The best part is you can retain this discount, even if you wish to sell the current bike and purchase a new one.

The following table shows the NCB grid:

No. Of Years	Discount
One claim-free year	20%
Two consecutive claim-free years	25%
Three consecutive claim-free years	35%
Four consecutive claim-free years	45%
Five consecutive claim-free years	50%

Voluntary discounts

A deductible is nothing but an amount that you need to pay out during an accident or mishap. This deductible plays a major role in determining your two wheeler insurance premium.

Higher the deductible, lower would be your two wheeler insurance premium. If you know you are a safe and responsible driver, opt for a higher voluntary deductible. This will help in getting the lowest two wheeler insurance. Here, a voluntary deductible of 25% on the Own Damage premium to a maximum of Rs.750

Membership of AAI

If your bike is a member to any of the recognized Automobile Associations of India then can fetch you an extra discount

Installation of security devices

If your two wheeler is fitted with ARAI approved anti-theft devices, you are eligible for an additional discount up to 2.5% on your own-damage premium.

Tenure Discount

This Company offers a tenure discount of 5% on the Own Damage Premium if you opt for a 2 year policy and 8% if you opt for a 3 year policy

Specialized Discount

The SBI Two Wheeler Insurance Policy offers a specialized discount for specially modified vehicles for the blind, mentally challenged and handicapped of 50% of the own-damage premium.

Exclusions – SBI Two Wheeler Insurance

Wear and tear, breakdowns
Consequential loss
Loss when driving with invalid driving license or under the influence of alcohol.
Loss due to war, civil war, etc.
Claims arising out of contractual liability.
Use of vehicle otherwise than in accordance with `limitations as to use

Claim Process – SBI Two Wheeler Insurance

Website: www.sbigeneral.in

Toll-Free Number: 1800-22-1111

Address:

SBI General Insurance Company Ltd.

"Natraj" 101, 201 & 301, Junction of Western Express Highway & Andheri Kurla - Road, Andheri (East) Mumbai - 400 069

Step-by-step Claim process:

In case of an accident or an unfortunate event or loss, do follow the below step-by-step, easy and hassle-free claim process:

Immediately contact SBI Two wheeler Insurance Company post an incident and inform about the date, time and place of the incident. You may check the list of the offices on the Company’s website www.sbigeneral.in
Keep the two wheeler at the accident spot/site in case of an accident which may include fire/ riots etc. till the time the surveyors visit the accident spot to survey your vehicle.
In case of any third-party injuries or death, ensure that you inform your nearest policy station about the incident and file a FIR. Inform the name of the hospital and the doctor’s name if you are getting the third-party treated in a hospital.
Post completing the above formalities you may either move or tow your two wheeler to any of the network garages nearby. Get the quotation from the network garage and submit the same to the Company along with the completed claim form. You may also visit any of the nearest office of SBI Two Wheeler Insurance for a final survey of your vehicle. Submit the surveyor copy and FIR.
Ensure that the repair work to commence only post final surveyor verifies the damage caused. Only post approving the same, you may go ahead with the repair works.
Submit the cash bills for spare parts, labour charges etc. and then get the reimbursement done, if the claim is admissible.

SBI Two Wheeler Insurance Review

With a strong network of cashless garages across India, SBI Two wheeler Insurance can make doorstep arrangements for fresh or renewal policy covers. The company scores brownie points when it comes to providing benefits or services compared to the premiums charged. Additionally, with their 'Increase in Personal Accident add-on cover' you can be assured that you are covered with all your need for the bike insurance. Thus, if you are looking to buy a comprehensive two wheeler insurance package with an affordable budget, SBI Two wheeler insurance should be your definite choice.