SBI Bike Insurance
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SBI General Bike Insurance
SBI General Insurance Limited is one of the most renowned names in the insurance sector of India. It is a government-owned corporation founded in the year 2001. In 2010 State Bank of India and Insurance Australia Group decided to collaborate and become an insurance provider. The coming together of two big businesses to provide one service has added value in the field of bike insurance and other insurance products as well. All the business operations were running well in the company. In the year 2018, it decided to sell 30% of its stakes. Now 26% of its stakes lie with IAG and the rest 4% lies with Axis Assets Management Co.
The company works in various dimensions of insurance such as Life Insurance, Health Insurance, Bike Insurance, etc. It is offering both car and bike insurance to the customers. Along with that, it has stepped into various other forms of business-like strategic tie-ups in Pension Funds, Custodial Services, Mobile Banking, Private Equity, Point of Sale Merchant Acquisition, Structured Products, Advisory Services, etc. With each service of insurance like bike insurance, car insurance, health insurance, etc, the company is increasing its network. It has successfully created a wide customer base.
The SBI General Insurance has now spread its operations related to bike insurance and other services in every corner of the country. It has around 22,000 branches in approx 110 cities of India. It has also set up around 10 branches in rural areas. It has also received iAAA rating for providing the highest claim settlement. It is growing at a fast pace with a mission to provide simple and innovative bike insurance and other insurance solutions, solve all their queries and build a sustainable business for the future.
SBI Two Wheelers Insurance
SBI General Insurance Company Limited is one of the best insurance providers in India. For two-wheelers, they offer three types of insurance based on the coverage they provide. The first is third party insurance, this type of cover is compulsory for every two-wheeler riding on Indian roads according to the Motor Vehicles Act of 1988. If found to have not purchased this type of insurance you can be fined Rs 2,000 and/or be imprisoned for up to 3 months. For own-damage coverage, you can purchase a standalone own-damage cover. This type of insurance will compensate for the damage to the policyholder’s two-wheeler for cases of vandalism, theft, road accidents, natural and manmade calamities. The third type of insurance available for two-wheelers is comprehensive insurance. As the name suggests, the plan takes care of both own-damage costs and third party liabilities in case of a mishap, all under a single premium. If you are looking for the most convenient and hassle-free option a comprehensive plan is what you need.
SBI also offers a wide range of add-ons with their own-damage insurance covers. These add-ons offer coverage for aspects that are otherwise excluded from the insurance plans. If chosen thoughtfully they can make a significant difference at the time of claim settlement. Some useful add-ons that you should definitely consider include the zero depreciation cover, protection of NCB cover, the tyre damage cover and the return to invoice cover. SBI offers a wide network of network garages, quick claim settlement and NCB for their own-damage covers.
Significant Points of SBI Bike Insurance
Third Party Insurance Property Damage
Up to Rs 1 lakh
Own Damage Cover
Determined by the IDV of the Two-wheeler
Personal Accient Cover
Up to Rs 15 Lakh
Assitance for Claim Settlement
Benefits of SBI Bike Insurance
- A wide network of 16,000+ garages
- Ample amount of insurance products
- Quick and swift claim settlement process
- Digitally enabled insurance solutions provided
- Allows the policyholders to make unlimited claims.
Must Read Articles before buying Sbi Bike Insurance
SBI Bike Insurance User Reviews
- Most Helpful
- Zero Depreciation
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
- Add On
SBI Two-Wheeler Insurance FAQs
How can I apply for the SBI Two-Wheeler Insurance plan?
Two-wheeler owners can get SBI Two-Wheeler Insurance through various channels such as:
- By calling their helpline number 1800-102-1111 or writing email their customer service to get the required assistance.
- By visiting the official website. All you need to do is click on the ‘Buy Online’ tab available on the official website.
What are the key features of SBI General Two-Wheeler Insurance?
There are several features offered by SBI General Two-Wheeler Insurance such as:
- Customized pricing model according to the customer’s convenience.
- Additional discounts for uninterrupted vehicle insurance.
- Quick claim settlement with a featured ratio of 89.51% in FY20.
How can I check the status of my policy?
You can check the status of your policy by making an online registration. You can simply log in to the website using your username and password to check the status.
Does it have a provision for No Claim Bonus?
Yes, SBI General Insurance does offer No Claim Bonus to its policyholders if they have not made any claim during the whole policy period. They can get a discount of up to 50% on own-damage premium.
How many cashless garages does SBI Insurance have?
SBI Insurance has a network of more than 16,000 garages all over the nation. The customers can go there to get cashless repair and replacement services.
Why to buy from InsuranceDekho?
- Instant policy# within 5 mins
- More than 50 lakhs happy customers
- Claim Support available all 7 days of the week
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