SBI Own Damage Bike Insurance
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SBI Standalone Own-Damage Bike Insurance Policy
Driving a bike or a scooter comes with certain risks and this can be a source of anxiety for you and your family members. You can negate some of the risks of the road by purchasing insurance for your two-wheeler. It will give you and your two-wheeler a layer of protection by giving compensation for the cost of damages in the event of a mishap of some sort. Moreover, if you purchase an own-damage cover it will take care of own-damage costs for many possible circumstances including the damage caused due to a road accident, case of vandalism, theft, natural or manmade calamity or fires. If purchased alongside the compulsory third party insurance the plan is sure to provide all-round protection for the insurance holder in times of crisis. Additionally, you can also purchase add-on covers which will further enhance your standard policy’s coverage.
Standalone Own-Damage Insurance V/S Third Party Insurance V/S Comprehensive Insurance
SBI Third Party Insurance
SBI Standalone Own-Damage Insurance
SBI Comprehensive Insurance
SBI’s third party insurance for two-wheelers will provide the policyholder with compensation for third party liabilities in case of a mishap including the cost of property damage, bodily injuries and death. They offer up to Rs 1Lakh for property damage.
SBI’s standalone own damage insurance for two-wheelers will provide the policyholder with compensation for own damage costs under several different possible circumstances such as cases of theft, road accidents and vandalism to name a few.
SBI’s comprehensive insurance plan for two-wheelers will provide the policyholder with compensation for both own damage costs and third party liabilities in the event of a mishap under a single premium. Insurance holders can also opt for a personal accident cover with it.
SBI General Insurance does not offer its policyholders add-on covers with third party insurance.
SBI General Insurance offers several add-on covers with standalone own-damage covers.
SBI General Insurance offers several add-on covers with comprehensive insurance plans.
SBI third party two-wheeler insurance covers are the least expensive but offer the most basic and compulsory coverage to the insurance holder.
SBI standalone own damage two-wheeler insurance covers are more expensive than third party insurance covers as they offer better coverage to the insurance holder.
SBI comprehensive two-wheeler insurance plans are more expensive than third party or standalone own-damage cover because they take care of both aspects under a single premium.
What is Covered Under an SBI Standalone Own-Damage Policy?
Following are the aspects that are covered under an SBI standalone own-damage two-wheeler insurance policy:
- Accidents that occur on the road and damage the two-wheeler.
- If the two-wheeler catches on fire or there is an explosion of some sort.
- If there is a case of total loss or a stolen two-wheeler cannot be traced.
- Natural or manmade disasters that damage the two-wheeler.
What is Not Covered Under an SBI Standalone Own-Damage Policy?
Following are the aspects that are not covered under an SBI standalone own-damage two-wheeler insurance policy:
- Some form of mechanical or electrical failure that causes the two-wheeler to break down.
- Illegal driving or misuse of the two-wheeler that leads to an unfortunate event.
- Depreciation, i.e., the lowering value of the two-wheeler due to natural wear and tear.
- An unfortunate incident that occurs outside India.
Benefits of SBI Standalone Own-Damage Policy
Following are the benefits of purchasing an Oriental Two-Wheeler Insurance Policy:
- It will take care of your own damage costs in the event of a mishap in many different circumstances.
- As a reward for safe driving the insurance provider will give you no Claim Bonus for every claim-free year.
- You can purchase add-on covers that can further strengthen the coverage of your existing insurance policy.
How To Purchase an SBI Standalone Own-Damage Policy?
Following are the steps you need to take to purchase an SBI Two-Wheeler Insurance Policy:
Step 1: Go to the InsuranceDekho website and then select the two-wheeler insurance option.
Step 2: Next you need to enter your two-wheeler’s registration number. If you do not have the registration number of the two-wheeler, however, you can enter its make, model and registration year instead.
Step 3: After this provide your personal details, i.e., your name and contact number in the given section. Once done select the ‘Submit and Get Quotes’ button.
Step 4: The quotes will be visible on your screen. All you need to do is select the one offered by SBI General Insurance and also select any add-on covers you would like to purchase with it.
Step 5: Once you pay for your SBI two-wheeler insurance policy and the policy document will be sent to your registered email ID.
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