SBI Car Insurance

With a claim settlement ratio of 98% and over 20 crore customers secured [1], SBI General Insurance is one of the fastest growing private insurance firms in India. Established in the year 2009, SBI General Insurance Company is backed by the trust and security of the State Bank of India and has a nationwide presence with 140+ branches. The company has a multi distribution model that covers Bancassurance, Agency, Retail Channels, and Digital Collabs and has an employee base of over 8000 people. [2]

About SBI General Car Insurance

SBI General Insurance offers private two wheeler, four wheeler and commercial vehicle insurance. With SBI General car insurance, be assured to get complete coverage for your car as per your requirement - stand alone third party (SATP), stand alone own damage (SAOD) and comprehensive car insurance. In this page we will be covering details of SBI General Private Car Insurance.

Key Features Of SBI Car Insurance

The key features of SBI General car insurance are mentioned below:

• 24*7 Roadside Assistance: SBI Car Insurance offers 24*7 roadside assistance no matter the time or the hour. From assisting you in towing your car or helping with emergency fuel refill, if you take the roadside assistance add on, you will not have to worry about car breakdowns.
  
• Huge Network of Cashless Garages: SBI General has more than 7100 cashless garages across the country, making it easy and convenient for the policyholders to get their vehicle repaired.
  
• 24*7 Claim Assistance: SBI General’s claims team is available at your service to assist you at any hour of the day or night. If you have any query regarding your claim or in case you need to make a claim, feel free to reach out to them.

Key Metrics

The key metrics of SBI General Car Insurance are as follows:

Types of Car Insurance Plans Offered By SBI General

There are three types of car insurance offered by SBI General Car Insurance in India - stand alone own damage, stand alone third party and comprehensive car insurance. Listed below are the details on all three:

• Standalone Own Damage (SAOD or OD) - A stand alone own damage car insurance or SAOD insurance by SBI General Insurance protects your car by providing coverage for any legal or financial obligation arising due to damage or loss of your car. This damage or loss can be due to an accident, man made disasters like vandalism, or riot, and natural disaster like flood, or earthquake. An own damage car insurance also protects you from losses arising due to theft or burglary. If you already have a third party car insurance, it is advisable that you take a stand alone own damage car insurance cover to protect your car against any damage.
  
• Third-party Liability (TPL or 3PL) - A stand alone third party car insurance offers the policyholder with legal and financial protection against any accident that involves a third party person or their property. It is important to note that this insurance provides coverage only in case the injury caused to a third party or the damage done to the third party property is unintentional. Having a third party car insurance or TPL is mandatory as per the Motor Vehicle Act of 1988.
  
• Comprehensive - A comprehensive car insurance policy offered by SBI General Insurance is a type of car insurance that gives you benefits of both stand alone own damage and stand alone third party car insurance. This policy is the most sought after policy giving you coverage for own vehicle theft, loss, or damage due to man made and natural disasters as well as covers you financially and legally against any damage caused to the third party. With comprehensive car insurance you also have the options to choose from various add ons for your own car protection which is otherwise not available when you only buy a third party car insurance.

Add Ons Offered By SBI Car Insurance

Add ons are additional benefits offered by the insurer that complements your main car insurance policy (stand alone and comprehensive). These add ons come at an additional cost when you choose them along with your insurance plan. Listed below are the add ons offered by SBI General Car Insurance:

• Zero Dep Cover: Usually, when there is an accident or damage to your car, there is a depreciation value attached to your car which comes out of your pocket while raising the claim. However, if you have a zero dep add on, you will not have to incur this cost out of your pocket. A zero depreciation add on as the name suggests helps in keeping the depreciation value of your car at zero thereby covering you from any unwanted expenses due to depreciation.

• No Claim Bonus Protection: If in any given policy year you do not make a claim, you get a bonus amount or discount from your insurer known as no claim bonus or NCB. No claim bonus is a type of cover that protects your bonus or discount even after you make a claim in a policy year.

• Return To Invoice: With this add on you can be stress free in case your vehicle gets stolen or damaged beyond repair. This add on helps you in getting the total value of your car from your insurer saving you any loss incurred due to loss or complete damage of your vehicle.

• Key Replacement: This add on helps in providing protection against any kind of damage to your car keys. In case you have damaged, lost or broken your key or your keys are stolen, with this cover you don’t have to worry about the cost of replacement or repair of your car keys.

• Allowance For Inconvenience: With this add on your insurer will pay you cash allowance for travel or commute in case your car is in repair for more than three days. The allowance paid is for a maximum of 10 days only.

• Loss of Personal Belongings: With this add on you will get reimbursed for any loss or damage that may occur to your personal belongings due to your car getting stolen, lost or damaged during an accident. Note that an F.I.R copy is required for the item before a claim can be made. There are also some deductible expenses associated with your belongings which you must talk to your insurer about.

• Roadside Assistance: With SBI General Insurance, you can also opt for a roadside assistance cover that will provide support to you 24*7 in case your car breaks down, you have a fuel issue, need to get your vehicle towed, have a flat tyre, battery issue etc.

• Hospital Daily Cash Cover: With this add on you can get a daily cash cover in case the owner/ driver of the vehicle endured injuries in an accident. Note that this compensation amount is limited up to the sum insured and as mentioned in your policy document. A minimum of 24 hours hospitalisation is mandatory to get the allowance and it is available for a maximum of 30 days.

• Engine Guard: Your vehicle’s heart lies in its engine. This engine guard add on covers the cost of your car’s engine in case it gets damaged or needs to be replaced.

• Cover For Consumables: If you incur any cost in replacement of your vehicle’s consumable items like oil filters, fuel filter, nuts and bolts, brake oil, etc., then this add on will help you in getting the amount reimbursed.

• EMI Protector: In case your car is in the garage for repair for a period of 21 or more days, and if you have a car EMI to pay, your insurer takes care of that. The EMI under this case will be paid by your insurer for a maximum of 2 months.

• Tyre and Rim Guard Cover: In case there is any accidental loss, puncture, damage, or if your car tyre gets stolen or your car’s rim gets damaged, your insurer covers you for that. This coverage also covers any additional labour charges that may incur during repair of your vehicle’s tyre.

Note for Premium Vehicle Owners: In case the value of your car is greater than INR 15 lakh it is advisable to take tyre cover since the replacement value is quite high.

Note for People Who Often Travel by Car for Work or Leisure: In case you travel often, it is advisable that you take the loss of belongings cover to protect your items in the car like laptop, mobile phone, documents etc.

Visit SBI Add on page to learn in detail about the above mentioned add ons.

InsuranceDekho Recommended Best Combination of Car Insurance Plan Type and Add-ons to Buy

Note 1: Personal Accident Cover is Mandatory by Law

Note 2: Third-party Car Insurance is Mandatory by Law

Factors Affecting Premium of Your SBI Car Insurance

Listed below are some of the key factors that influence the premium of your SBI car insurance:

• Car Model: Your car’s model type has a significant impact on the insurance premium you pay. Cars with value of INR 15 lakh and above generally tend to have higher premiums. This is especially true for luxury vehicles.
  
• Driving Record: If you have a history of traffic rules violation, accidents or bad driving history, this will impact your insurance premium adversely. Having a clean driving record generally helps in keeping your car insurance premiums lower.
  
• Credit History: When you are buying vehicle insurance, a factor that is often ignored by the buyer is their credit history. Your credit history also impacts the premium of your car insurance. Having a good credit history suggests that you are reliable and will be able to pay your premiums in time. This helps in potentially lowering your insurance premium.
  
• Geographical Location: Depending on where you plan to buy the car influences your car insurance premium. If you reside in urban areas or a metropolitan city, your car insurance premium will be typically higher than people who stay in rural areas of tier 2 and 3 cities.
  
• 5. Deductibles: The amount you agree with your insurer to pay out of your pocket in case of an accident or other mishaps, repairs or damages are called deductibles. The higher the deductibles, the lower the premium since you as a policyholder agree to bear part of the burden of your insurer for your accident, repairs or replacement of car components.
  
• Age of Vehicle: Depending on the age of your vehicle, your car insurance premium price changes. Vehicles that are less than five years old are generally considered as low risk vehicles while those older than five years are considered as high risk. Since risk usually increases with age of vehicle, the premium also increases.
  
• Add Ons: Add ons are supplementary features that can be added to your insurance policy after paying a nominal fee along with your insurance premiums. These add ons are made to enhance your overall car insurance. The more add ons you select, the higher will be your insurance premium.
  
• No Claim Bonus (NCB): If you have not made any claims in the previous policy year, while renewing your policy you can get a discount from your insurer of up to 50%. This discount or no claim bonus helps in lowering your car insurance policy premium rates.
  
• Insured Declared Value (IDV): The insured declared value of your car helps in understanding the current market value of your car, thereby influencing the premium calculation at the end of a policy year. Learn in details about IDV in the below section.

What is Insured Declared Value and How is It Calculated?

Insured Declared Value (IDV)

The insured declared value or IDV of a car is the current market value of your car which helps in determining the car’s insurance premium. IDV also comes to use in case your car has been stolen or totally damaged/ damaged beyond repair. In this case your car’s IDV helps in finalising the compensation amount that the insurer will pay you.

Calculating Insured Declared Value (IDV)

An IDV calculator serves as a tool to ensure that you know the present market worth of your vehicle and to help establish the cost of your car insurance premium.

Eligibility To Buy a Car Insurance Plan from SBI General Insurance

Mentioned below are the list of documents required to make you eligible for buying a car insurance from SBI General or any other insurer of your choice:

• Your car must be registered under the Regional Transport Office (RTO)
• Your must have your car registration papers
• You must have a valid driving licence
• You should have two passport sized photographs or digital passport sized photographs available
• Other documents may be required depending on your insurer

Factors to Consider Before Buying or Renewing Your Car Insurance

Before you buy or renew your car insurance, here are some key factors to consider:

• Credibility of the Insurer: It is extremely important to do your research on the insurer you are considering to buy your car insurance from. The credibility of your insurer must be reviewed as that determines whether or not you will receive your claim or receive it in time. You must check the claim settlement ratio, customer reviews, cashless garage details, solvency ratio, etc to validate the insurer’s credibility.
  
• Add Ons Required and Add Ons Offered: Add ons are a crucial part of your insurance policy and quite often a policyholder choses some of them to supplement and enhance their car insurance. It is important to see the types of add ons offered by the insurer of your choice and if they fulfil your requirements too. Make sure you focus on your car’s age, your travel requirements, mileage of your car, etc to make an informed decision.
  
• Deductibles: Deductibles are the amount you agree with your insurer to pay out of your pocket in case of an accident or when your car requires repair or replacement services. The amount of compulsory and voluntary deductibles must be checked before finalising an insurer as it should not bring too much load on you financially.
  
• Risk Exposure: If you are a frequent traveller especially travelling to risk prone areas, you should consider the risk factors while deciding the insurer and finalise someone who covers these risk parameters. Different insurers have different clauses depending on the risk exposure.
  
• Extra Features and Updates: Every insurance company regularly keeps updating their policies, adding or removing features and their plans depending on the current industry norms and requirements. Before you buy or renew your insurance, make sure to be updated with these new features or updates.

What Is Covered and What Is Not Covered?

Every insurance plan has certain inclusions and exclusions that are mentioned in a policy document. Some of the common inclusions and exclusions that are there in SBI General’s car insurance are mentioned below:

Inclusions

1. Natural disaster coverage (flood, storm, cyclone, earthquakes, etc)
2. Personal accident cover of INR 15 Lakh
3. Cashless repairs in over 7100+ network garages
4. 7 add-ons to choose from to enhance your car insurance coverage
5. Coverage for accidents, theft, and terrorism
6. Coverage for third-party legal liabilities
7. No claim bonus of up to 50%

Exclusions

1. Ageing and general wear and tear of the car
2. Accident where the driver of your car is driving without a valid licence or with a learner’s licence without adult supervision
3. Mechanical or electrical breakdown or failure
4. Damage done by a person driving under the influence of alcohol or drugs
5. Loss or damage due to war or nuclear risks
6. Damage done to tyres, and tubes unless it is damaged in an accident
7. Loss or damage outside India or your major geographical area

Note that the above mentioned inclusions and exclusions aren’t exhaustive. For accuracy and more information please refer to the policy wording.

How to Claim From Your Car Insurance?

In order to make a claim from your SBI General car insurance visit their claims page [4] or

• Call on their toll free number 1800 102 1111
• Email them on customer.care@sbigeneral.in

Note that there are different checklist for making an accident claim and a theft claim. Please ensure you learn about these in details either from SBI agents or through us at InsuranceDekho.

For any assistance that you may require, you can also reach out to InsuranceDekho through our helpline number +91- 7551196989 or by writing to us at support@insurancedekho.com

Please note that InsuranceDekho can only assist in claim settlement and has no influence on your claim status. It is solely on the insurer to settle your claim based on the details provided by you.

SBI General Car Insurance Renewal Process

To renew your SBI General Car Insurance with InsuranceDekho online follow the process mentioned below:

Online process

Step 1: Click on "Support" from the header on the website once you are on car insurance homepage of InsuranceDekho.

Step 2: Go to the "Renew Policy" section from the dropdown menu.

Step 3: Enter your mobile number, click “Send OTP.”

Step 4: You will now enter your dashboard which will show all your policies bought from InsuranceDekho. Click on SBI General’ car insurance.

Step 5: Click the "Renew" button to renew your policy.

Step 6: Make the payment.

Once the payment has been made, you will now be able to download your car insurance policy.

Online Payment Options For Renewal of Your SBI General Car Insurance

Here are the different modes of payment to choose from:

• EMI (Equated Monthly Instalments) or yearly payment
• Credit or Debit Card
• Net banking
• QR Code or UPI transactions
• Digital Payment Applications, if applicable.

Offline Process

In order to renew your SBI car insurance offline, you can:

Call For Home Assistance by InsuranceDekho: In case you face any trouble in renewing your car insurance policy online, you can connect with an InsuranceDekho advisor on call +91-7551196989 who will assist you in purchasing your insurance. You can also inform the agent in case you require home assistance and they will be there to assist you at your convenience.

Visit the Insurer's Branch Office: Alternatively, you can also visit the nearest branch office of SBI General car insurance and get your policy renewed.

Car Insurance Customer Service & Support

SBI General’s Customer Support

Connect with SBI General’s customer support team by [5]

• Calling on 24*7 helpline 1800 102 1111
• Emailing on customer.care@sbigeneral.in
• You can also visit here https://www.sbigeneral.in/quick-assist for quick assistance

InsuranceDekho’s Customer Support

We understand the importance of having support when in crisis, hence our team is actively available 24*7 to help you with your insurance related concerns. Connect with InsuranceDekho’s customer support team by

• Calling on +91-7551196989 or
• Writing to us at support@insurancedekho.com

Complaints & Grievance Redressal

For any complaints and grievances related query with your SBI General car insurance you can [6]

• Call on toll free numbers 1800 22 1111 / 1800 102 1111 Monday to Saturday from 8 am to 8 pm
• Email them at customer.care@sbigeneral.in
• Fax your queries to 1800 22 7244
• Visit their nearby branch office

You may also get in touch with Mr. Rohit Khurana, InsuranceDekho’s Grievance Redressal Officer by emailing him at grievance@insurancedekho.com.