Sbi Bike Insurance Claim
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SBI Bike Insurance Claim
SBI General Insurance has an impressive claim settlement ratio of 89.51% in the financial year of 2019-2020. It has seamlessly settled thousands of claims of its policyholders over the years enhancing its reputation as an insurance company.
SBI General Insurance has simplified the procedure of claim settlement of bike insurance policy through digitalization. It has set up an efficient helpdesk service to assist the policyholders throughout the process.
Documents Required for SBI Bike Insurance Claim
Following documents are required at the time of settling a bike insurance claim:
- Policy copy
- Duly filled and signed claim form
- Original repair invoice for cashless claims.
- Self-attested copy of Registration Certificate (RC)
- Driving license of the person driving at the time of the accident
- Original repair estimate, repair invoice and payment receipt for non-cashless claims.
How To Make SBI Cashless Bike Insurance Claim?
SBI General Insurance has made the claim procedure hassle-free and the policyholders can easily execute it by the following simple steps:
Step 1: Contact SBI General Insurance
To initiate the claim settlement procedure, the policyholder should immediately inform the insurer after the incident, be it theft, accident or any damage to the bike. You can get in touch with SBI General Insurance by dialling 1800-102- 1111. The call should be made within 24 hours of the unfortunate event of an accident. You can also SMS "CLAIM" to 561612 or email your details on the customer.care@sbigeneral to intimate the insurer.in
Step 2: Register Claim
A Claim Manager or representative from SBI General Insurance reverts back to you within 24 hours. You have to inform the representative of the following details:
- Policy Number
- Date and time of the accident
- Estimated loss/ description
- Survey location where the vehicle can be surveyed by the loss assessor
- Name of the driver with contact no and his/ her driving license details
- Insured’s Contact Details
The Claims Manager/ representative provides you with a claim reference number for future reference. Collect the claim form from the nearest branch or download it from the official website.
Step 3: Survey of Damages
A surveyor is appointed to assess the extent of the damages caused to the bike during the accident. Submit the duly filled claim form, policy documents and circumstantial proves to the surveyor.
Step 4: Claim Settlement
After assessing all the aspects, the surveyor gives approval. The insurer confirms its financial and legal liabilities and pays all the expenses of repair of the insured’s bike to the garage. The claim amount is calculated deducting the deductibles and depreciation.
How To Make SBI Reimbursement Bike Insurance Claim?
A reimbursement claim can be registered if you fail to move the insured’s bike to the network garage or wish to repair it in any other garage. A reimbursement claim ensures compensation for the repair expenses. The process of placing a reimbursement claim is described in the following steps.
Step 1: Contact the insurer
You can initiate the reimbursement process by making a call on its toll-free helpline number 1800-102-1111. You should contact the insurer immediately after the accident or theft of the insured’s bike.
Step 2: Register A Claim
The Claims Manager/executive calls you back after the intimation. You have to inform the executive about the policy number and details about the accident. You receive a unique claim reference number from the executive.
Step 3: Survey of the Damages Incurred
A surveyor appointed by the insurer checks the condition of the bike before it is sent for repairs. The surveyor prepares an estimate of the cost of repair. You have to submit the documents, duly filled claim form and the proves to the surveyor.
Step 4: Repair and Reimbursement
Once the surveyor gives the approval, you can send the bike to your desired garage. After the completion of the repair, submit the bills and receipts of repair along with policy documents to the insurer to receive the reimbursement. The company checks the details and finally disburses the claim amount taking into account all the deductibles and depreciation.
Common SBI Bike Insurance Claim Rejection Reasons
SBI General Insurance has a set of specific conditions for the approval of the claim. The claim is rejected by the insurance company under the following circumstances:
- Act of negligence
- Driving without license
- Misinterpretation of facts
- Registration of a fraud Claim
- Claiming wrong coverage amount
- Improper functioning of the vehicle parts
- Lack of details required to process the claim
- Delay in intimation about the mishap to the insurer.
SBI No Claim Bonus
SBI General Insurance offers No Claim Bonus with every own damage for two-wheelers. You can purchase this either as a standalone own damage cover or as part of a comprehensive insurance plan for your two-wheeler. The NCB is offered as a token reward by the insurance provider to the policyholder for a claim-free year. This reward is cumulative in nature and goes up to 50 per cent in the fifth consecutive year. However, any claim, no matter how minor will disable this accumulated reward. Hence, it is advised that every policyholder refrains from filing a claim unless the damage caused by a mishap is significant.
Additionally, to keep the accumulated No Claim Bonus intact it is also crucial that the policyholder maintain a timely renewal of their two-wheeler insurance policy. If they fail to do so the NCB becomes nonvalid. To prevent such situations from happening the insurance providers offer their customers a grace period of 90 days. However, any delays after this period lead to the cancellation of the policy and the accumulated NCB. The NCB is a reward for safe driving and hence, can be transferred when you shift to a different insurance provider or if you sell your two-wheeler and purchase another one.
Must Read Articles before buying Sbi Bike Insurance
SBI Bike Insurance User Reviews
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SBI Bike Insurance Claim FAQs
Can I make a claim in case of any consequential damage under the SBI bike insurance policy?
No, you can not make a claim for any consequential damage under the SBI bike insurance policy. The case of total loss is also excluded from this policy.
Where can I get the claim form of SBI bike insurance policy?
You can get the claim form of SBI bike insurance policy from any of their branches. You can also download the claim form from the claim page on their official website.
What circumstantial proves can help in settling a claim?
The following circumstantial proves will help in settling a claim:
- Pictures of the location of the accident
- Pictures of the insured’s bike that clearly shows the extent of the damage.
What is Claim Settlement Ratio?
Claim Settlement Ratio is the ratio of the number of claims settled by the insurer against the number of claims received.
How can I get roadside assistance in case of any emergency?
You can dial the toll-free number of SBI for roadside assistance in case of any emergency. Their toll-free number is 1800-102-1111.
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