Top SBI General Car Insurance Plans
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About SBI General Insurance
SBI General Insurance Company Limited is one of the top insurance companies in India that offers reliable car insurance policies. It is a joint venture between State Bank of India and Insurance Australia Group (IAG) and has been rendering services since 2010. The company uses a multi-channel distribution model that includes bancassurance, agency, broking, and retail direct channels. SBI General Insurance Company Limited, in addition to car insurance, offers a wide range of general insurance products for both retail and commercial customers.These include health insurance policies, bike insurance policies, home insurance policies, personal insurance policies, and travel insurance policies. While in the commercial space, it offers fire insurance policies, marine insurance policies, aviation insurance policies, and construction insurance policies.
The venture is composed of 74% stake owned by the State Bank of India and the rest 26% is owned by Insurance Australia Group Limited (IAG). SBI is a government-owned corporation headquartered in Mumbai and has a total of seven associate banks and operates with over 18,500 branches spread across the country. Whereas, IAG is an international general insurance company, with operations in New Zealand, Australia, UK, and Asia. IAG has a business endorsement of over $11 billion of premium every year and sells insurance under numerous top brands.
SBI General Insurance has a dedicated website where customers may buy a new car insurance policy, renew an existing one, get a car insurance quote, and begin the process of filing a car insurance claim.
Today, the entire distribution family has over 21,000 IRDA-certified working employees, including the State Bank Group employees and more than 8,000 agents. Worth mentioning, it is also bestowed with iAAA rating for the highest claim paying ability. Mahesh Kumar Sharma is the current CEO and Managing Director of the company.
How to Buy SBI Car Insurance Policy Online?
When it comes to purchasing an SBI car insurance plan, you can easily compare and buy it through the InsuranceDekho portal or from an insurance company website. Below are the details of both processes.
Following is the process to purchase a car insurance plan from the InsuranceDekho website:
Step 1: Visit the website of InsuranceDekho and click the ‘Car’ tab on the homepage.
Step 2: Enter details like the registration number of your car, manufacturer, model, make and year of registration of your car and click on ‘Get your Quote’. You also have to enter your mobile number and email ID to proceed.
Step 3: The amount of policy premium offered by different insurance companies will appear on the next page.
Step 4: You can choose some add-on covers based on your budget and needs, taking into consideration the base plan and add-on cover premium.
Step 5: Make payment for the premium via debit or credit card, net banking, etc. After the payment, you will get the policy document directly in your inbox of the registered email ID.
How to Buy SBI Car Insurance From SBI General Insurance’s Website?
Below is the process to purchase a car insurance policy from the website of SBI General Insurance:
Step 1: Visit the SBI General Insurance Company’s website and select the option to buy motor insurance. Choose the option to buy car insurance and enter a registration number.
Step 2: Enter a few details like your name, mobile number, and email ID. An OTP will be sent to you to validate your identity.
Step 3: Enter the details of your car like registration number make, model, and the variant of your car, registration city, registration date, and parking Pincode, to proceed.
Step 4: Choose the policy quote offered by the insurer. You can also include a few add-on covers if required.
Step 5: You can pay for your chosen policy quote with a debit or credit card, net banking, or e-wallets. After payment, you will receive the policy document through email.
SBI Car Insurance
SBI General Insurance provides many types of car insurance to protect your vehicle from unfortunate risks like accidents, thefts, fire, natural disasters, or third-party liabilities. In order to protect your car from damages and losses, the insurer offers two types of car insurance plans: third-party car insurance and comprehensive car insurance, both of which have affordable premium rates.In addition to these, the insurance company also presents an additional benefit of personal accident cover of up to Rs. 15 lakhs for individual owners to compensate them for permanent disability or death while driving.
By paying a small extra premium over and above the cost of the base policy, SBI General Insurance allows you to customise your car insurance policy and expand its coverage with many add-on covers. Depreciation reimbursement, return to invoice, NCB protection, key replacement, roadside assistance cover, consumables cover, engine guard, and so on are some of the additional coverages offered by the insurance company.In addition to hosting a range of insurance plans and additional covers, opting for an insurance cover from SBI General Insurance can make you avail No Claim Bonus, enjoy a wide network of garages, and grab great discounts tailored as per your needs.
Significant Points of SBI Car Insurance
|Claim Settlement Ratio||100.00%|
Third Party Property Damage
Up to Rs. 7.5 Lakh
Own Damage Cover
Coverage for Own Car for Its Loss and Damage
Personal Accident Cover
Up to Rs. 15 Lakh for Individual Owners and Up to Rs. 2 Lakh per Person for Passengers.
13 Add-on Covers
24/7 Claim Assistance
Benefits of SBI General Car Insurance
- 1.SBI car insurance online, offers more than 16,000 cashless network garage services across India.
- 2.You can also avail discount on the premium under SBI car insurance policy. However, this is available only when you choose a Voluntary Excess in addition to the Compulsory Excess.
- A dedicated website for easy claim initiation, claim settlement, policy purchase and renewal.
SBI General Car Insurance Add-Ons
No Claim Benefit (NCB) Protection
NCB is a discount offered as a reward in case no claim is filed by the insured in the previous period. However, a mere small claim can wipe out this benefit. NCB Protection add-on preserves NCB even after a claim. Also, this covers only one claim in a year and is not transferable.
Nil Depreciation/Zero depreciation
Apart from the depreciated value of parts, this add-on entitles one to claim the complete cost of replacing damaged or worn out car parts with brand-new parts except few exceptions such as tyre, tubes and battery.
Engine Protect /Engine Guard
A standard car insurance does not cover non-accident related breakdowns. With Engine Protect/Engine Guard add-on coverage, you can cover engine and circuit related repairs. However, this can’t be claimed due to normal wear and tear of the car’s engine.
This is a unique add-on that repays you for the expense of finding alternative transport when your car is stolen or damaged. The coverage could last as much as two weeks and the claim amount is up to Rs 1,000 (depending on the make and age of your car).
Return to Invoice
This feature lets the car owners claim the invoice price plus registration charges instead of the depreciated resale value. This is only for the situation when the car is stolen, or if it is damaged to an extent that no repairs can be done.
SBI General Car Insurance Claim Process
Initiate your claimVisit the company’s site and click on ‘Initiate a claim’. Alternatively, you can call the toll free number 1800 22 1111 to get your claim/reference number
Keep the necessary documents as prescribedA customer care executive will provide you with the details of documents required and also the cashless workshop (if available)to initiate and process your claim.
Wait for a day for the claim executive to reach youThe claims manager/executive will contact you within 24 hours
Submit all the relevant documentsThen you need to submit all the relevant documents to the claims manager/executive, which will be verified against the originals
Relax and let the team do the JobSBI General will proceed with the process and all the claims will be settled immediately. However, in a non-cashless process, claims are settled after a month of receipt of the final survey report
616 Sbi Cashless Garages in India
Must Read Articles before buying Sbi Car Insurance
- Read this article to find out significant features and benefits of purchasing your car insurance from SBI General Insurance
- To know some of the simple and quick ways of renewing your bike insurance plan online, read the article.
- Read this article to find out everything you need to know about purchasing car insurance from SBI General Insurance.
- Read this article to find out effective ways to reduce the cost of your car insurance premium with SBI General Insurance.
- There are many features and benefits of SBI car insurance plans. Read this article to take note of the benefits of car insurance plans.
SBI Car Insurance User Reviews
- Most Helpful
- Zero Depreciation
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
- Add On
SBI General Car Insurance FAQ’s
What benefits does SBI General Car Insurance offer over other non-life insurance companies?
SBI General Car insurance has a commendable incurred claim ratio of 102.07%. The figure proves the company’s commitment to claim settlement.
What are the documents and formalities required to process the claim by the company?
The necessary documents are as follows:
- Completely filled Claim Form
- Policy Document
- Driving License of the driver driving the vehicle at the time of loss
- RC Copy
What should I do with the insurance when I sell my car?
The insurance policy is transferable; hence, you could easily transfer the insurance policy, or you can also opt for cancellation of the policy.
What is No Claim Bonus?
No Claim Bonus is basically the discount given by the company in case no claim is requested by the insured during the complete tenure of his policy period.
Why to buy from InsuranceDekho?
- Instant policy # within 5 mins
- More than 45 Lac happy customers
- Claim Support available all 7 days of the week
SBI General Car Insurance Contact Details
InsuranceDekho7551196989Mon to Sun 10 AM to 7 PM
- 1800 22 111108:00 AM to 08:00 PM
- 561612Or for a short note can even SMS to 561612
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