SBI Car Insurance
SBI General Insurance has been a leading name in the insurance industry. With a focus on transparency, empathy, agility, motivation, and service, SBI General Insurance offers a multitude of options in the retail and commercial space at attractive prices. With over 21000 IRDA-certified employees and 8000+ agents, SBI ensures that insurance is within reach of those living in even the most remote areas in the country.
SBI General’s presence is felt in over 110 cities in India along with another 350+ locations through satellite resources and caters to the retail, corporate and SME segments.
Awards and Recognition
SBI General received the Best BFSI Award in 2016 and 2018 for excellence in general insurance from Economic Times. The company was also recognized for Under-served Market Penetration and Commercial Lines Growth Leadership at the India Assurance Awards in 2016. At the 7th edition of Insurance Awards organized by Fintelekt, SBI has bestowed the Bancassurance Leader award in 2016.
In addition to these accolades, SBI General Insurance has been ISO certified since March 2014, and won the Technology Maturity Award in 2013 and Marketing Initiative of the Year in 2015 during the Insurance Awards by Fintelekt. In 2014, SBI General was awarded runner-up for Data Quality in Asia-Pacific by IAIDQ, Australia.
Quick Look At SBI Car Insurance
|Personal accident insurance||Up to 15 lakh|
|No Claim Bonus||Yes|
|No. of claims||₹ 11000 crore|
Why Choose SBI Car Insurance?
- A network of 22000+ branches across 125 locations in the country
- Till date more than 6.8 Crore customers have been served
- Satellite presence in 350+ locations
- Handled over ₹ 11000 crore worth of claims
- Compulsory third-party liability and personal accident cover
- Host of add-on covers like loss of belongings, bi-fuel kit, key replacement, no-claim bonus, etc.
What Do You Get When You Purchase SBI Car Insurance?
When you opt for a policy and its add-ons, it includes the following:
- Compulsory personal accident cover of INR 15 lakh for owner-driver. Cover of passengers is capped at INR 2 lakh per head.
- Compulsory third-party liability cover protects you from liability in the event of damage caused to person, property, or vehicle by your car.
- If your car is damaged due to natural disasters like floods, lightning, cyclones or hurricanes, or storms, the insurance covers the cost of its repair.
Along with the standard cover, you can also choose to purchase add-ons that will provide additional protection. Some of these add-ons include:
Learn How To Purchase Or Renew SBI Car Insurance Online
Buying and renewing car insurance policies online has become very easy. You can purchase or renew your car insurance policy through the following ways:
- Walk into one of the company’s offices
- Get in touch with an authorized agent who can guide you.
- Online purchase or renewal of your car insurance policy.
Online Purchase And Renewal
Probus Insurance Website
SBI General Official Website
Filing a claim on your insurance policy is important to avoid burning a hole in your pocket in the event of damage or repairs. To file your claim –
- Open the official website.
- Click on INTIMATE CLAIM and then choose CLAIM FORM DOWNLOAD.
- Scroll through the available forms. You can navigate using the PREVIOUS and NEXT arrow at the bottom of the list. When you find the form for motor insurance, you can either download it or email it to your email address.
- Print the form and fill out the details
The other alternative method you can use is:
- You can contact the toll-free number 1800-102-1111 or send an SMS – type CLAIM and send it to 561612. Additionally, you can email your details to customer.care@ sbigeneral.com. A claim number or reference will be sent to you.
- You can also intimate your claim by filling the form on the above site.
- Once you receive your claim number or reference, SBI General’s customer care will provide you with a list of documents that you will need to submit along with your claim form.
- Once the claim is registered, a claims manager or executive will reach out to you within 24 hours.
- Submit the required documents and claims form so they can be verified against the originals.
- SBI General will initiate your claim process. All claims will be settled within 30 days of receiving the final survey report and/or the last relevant document.
What Are The Major Car Insurance Policy Exclusions?
SBI General’s car insurance policies exclude some incidents. Major exclusions include:
- Loss or damage to vehicle arising from normal wear and tear
- Any consequential loss or depreciation of the vehicle
- Any damage sustained or loss to the accessories of the car
- Repairs due to mechanical and electrical breakdown
- If terms and conditions of the policy are breached
- Damage, theft, or loss due to foreign enemy acts, invasion, rebellion, mutiny, or war-related incidents are not covered.
- The policy does not cover the vehicle if it was being driven by someone without a valid driving licence.
- The policy will not kick in if the vehicle was being driven by someone under the influence of alcohol and/or other intoxicants. Please note that driving under the influence is also punishable by law.
For a more exhaustive list of exclusions, please refer to the policy document.
How Can I Get Low Premiums And Calculate My Premium?
One way of lowering your premium amount is a no-claim bonus. If throughout your policy term you have not filed a claim, you may be entitled to a no-claim bonus. This bonus is offered to you as a discount and acts as a reward for safe and responsible driving. The longer you go without a claim, the higher the discount. However, if you do file a claim, the discount then drops to 0%.
Premiums for car insurance are calculated based on several factors. The make, model, and year of the car and the city of registration play a vital role in determining the premium amount. The fuel type of the vehicle, your age and your profession also factor into the calculation.
Here’s an example of what goes into calculating premiums for a car.
Insurance Declared Value
|TATA Hexa-XE 4×2 STR (2179)||INR 12.99 lakh||INR 909,300||INR 6256|
|Honda City – 1.3 DX (1343 cc)||INR 9.72 lakh||INR 680,400||INR 4468|
|Hyundai Creta-1.4L CRDI 6-speed manual base diesel||INR 11.95 lakh||INR 836,500||INR 5492|
|Maruti Vitara Brezza – 1.4L CRDI 6-speed manual base diesel||INR 9.99 lakh||INR 693,000||INR 4550|
*These values are for the registration year of 2019 and computed based on the city (Delhi).
If you want an exact value, you can follow the application method of applying for a new policy on the official website. This will give you a clearer picture.
Frequently Asked Questions
You can choose to pay your premium through cash payment at an SBI branch or make an online payment via credit card, debit card or net banking.
You can renew your policy on SBI General’s website or through the Probus Insurance website.
Your car insurance policy document is sent to your email immediately upon payment.
You can intimate your claim online through SBI General’s website.
SBI General will settle all claims within 30 days of receiving the final survey report and/or the last relevant document.