SBI Comprehensive Car Insurance Policy
SBI General’s Comprehensive Car Insurance (also known as Private Car Insurance Policy – Package) is a motor insurance policy that provides exhaustive coverage and safeguards you and your vehicle in case of any mishaps while on the roads. Moreover, this policy also insures you against third-party liabilities, thereby making your drives stress-free. This plan covers you and your car from different types of road risks, ranging from accidents and natural calamities to third-party liabilities. It functions as a safeguard for you and your car.
Major Highlights of Comprehensive Car Insurance of SBI
Take a look at the various features and benefits of this policy.
Accidental Damage to Vehicle:
Coverage against loss or damage to the vehicle or its accessories due to fire, explosion, self-ignition, accidental damage, and various other man-made or natural calamities is available under this plan.
To Ease Off The Huge Third-Party Liability:
Damage caused by your car to the third party is your liability to be paid. It does not matter whether you are able to afford it or not. The third-party may suffer from bodily injury or property damage for which you may be held liable. This Car Insurance, in this case, will be helpful and will save you from undue liability.
To Cover the Own Damage:
In case the car owner bangs into the vehicle due to his fault or accidentally, he will suffer some losses. The car owner will receive the payment of Rs. 15 lakhs for the damages subject to the car insurance cover. Otherwise, in all cases, he will not get any reimbursements.
Other than accidental losses, damages to a car may arise due to natural calamities as well. India has witnessed and is prone to many storms, floods, and massive earthquakes, which in turn could result in multiple losses. This policy will cover that, too.
Theft Of Your Car:
In case your car has been stolen, you can claim an amount that equates to the insured declared value specified in your car insurance policy using this comprehensive car plan of SBI.
No Claim Bonus:
In case you do not make any claim for a particular year, you get rewarded with a No Claims Bonus (NCB) in the form of a discount while renewing your policy.
Add-on Covers Available With the SBI Comprehensive Car Insurance
This policy offers a number of add-on covers. Some of the important mentions are as follows.
Return To Invoice Cover:
With this add-on cover, the policyholder can bridge the gap between the IDV and the invoice price. Return To Invoice Cover is also known as Invoice Protection Cover, and it helps the policyholder to receive a claim amount equivalent to the cost of the car mentioned in its invoice. With this car insurance add-on cover clubbed with a comprehensive or standalone own-damage car insurance plan, the policyholder can receive an amount equivalent to the on-road price of the car in the case of total loss.
Zero Depreciation Cover:
This add-on cover in a comprehensive car insurance policy ensures that the insurer covers the depreciation amount on the assessed parts as per the policy document. The benefits under the add-on can be utilized up to a maximum specified number of times during the policy period. Without this cover, all insurers account for depreciation on the car’s parts and settle the claim after making the necessary deductions on account of depreciation. Having the add-on cover will ensure that there are no deductions for the depreciation of parts.
If the insured person gets stranded in the middle of the road due to any reason, such as a mechanical or electrical breakdown, this add-on cover kicks in and protects him/her from bearing the cost of such sudden expenses. The roadside assistance add-on is also known as the breakdown assistance cover. This cover also includes towing service, fuel delivery, alternative vehicles, staying at a hotel, medical coordination, etc.
Engine Protection Cover:
Generally, a standard car insurance policy does not provide coverage for the engine of the car against its damage. With this cover, one can get compensation for the damages incurred by your car’s engine, which is the most valuable part of a car. It helps an insured person to get financial support and ensures the long life of the car.
What Are the Key Exclusions of the SBI Comprehensive Car Insurance Policy?
Some of the situations that are permanently not covered by the comprehensive car insurance of SBI are-
- Damages incurred while using the car for illegal purposes.
- Damages caused to the car due to its usage beyond limits.
- Loss or damage as a result of war, terror attacks, hostilities, or nuclear accidents.
- Damages caused to the car while it was driven by a person under the influence of drugs or alcohol.
- Accidents were found to be fraudulent by the insurance company.
- Damages caused to the car in an accident while the person driving could not produce a valid license.
- Damages incurred by the car in an accident with an underage driver or one who drove on the wrong side of the road.
- Cost of car coolants, petrol, nuts, bolts, etc.
- Willful damages were caused to the vehicle by the owner.
- Damages caused to the car during a time when the policy had expired and was not renewed. Car insurance policies are annual contracts that should ideally be renewed on time, without the occurrence of a gap between the expiry date and the renewal date.
- Damages to the car and its engine due to oil leakage.
- Consequential losses due to certain actions from the car owner or a third party, and not due to an uncertain event. For instance, the engine damage of a car following a hydrostatic loss during the monsoons is due to the negligence of the car owner, as he had cranked it up in a flooded area. This will not be covered by the insurer.
Buying Process of Comprehensive Car Insurance offered by SBI
One can buy this policy online by following the below steps.
- Go to the official website of SBI General Insurance Company and select the Car Insurance tab.
- On the left side of the page, there will be the Have a ‘New Car’ Option. Click here.
- On the landing page, select the brand of your car.
- Then select the model, variant, and fuel type.
- After that, enter the car details, such as registration date, registration number of the car, and type of the policy.
- Provide other necessary information as required.
- On the basis of the given details, the premium amount will be displayed on the screen.
- Check the details twice. If satisfied, pay the premium amount online securely.
- Upon successful payment, download the car policy for future reference.
Renewal process of SBI Comprehensive Car Insurance plan
Follow the below steps to renew your existing SBI car policy.
- Go to the official page of SBI General Insurance Company.
- On the top of the homepage, there will be the ‘Renew’ tab. Click on that.
- Select ‘Motor Policy’.
- Put the policy details, such as policy type and registration number.
- The renewal amount will be shown.
- Check the details. If no discrepancy is found, pay the amount securely.
- Download the renewal document for better convenience.
How Can You Make a Claim for Comprehensive Car Insurance of SBI?
This insurer has both cashless and reimbursement claim procedures. To avail of a successful claim process under this company, the general claim process is as follows.
- Get in touch with SBI General immediately and inform them about the accident and location.
- Within 24 hours of registering the claim, the claim manager/executive will call you and provide a claim number/reference number. This also means that the company has accepted your claim request.
- Lodging an FIR at the nearest police station is mandatory in case of grave injury to any person or theft of the vehicle. Also, explain about the accident (if asked) and furnish the details of witnesses (if any) to the company.
- Tow/drive your damaged car to the nearest cashless garage for repairs to avail of the cashless facility.
- You must also submit the required documents to the claims manager or executive and have them verified against the originals.
- SBI General will approve the claim amount once all documents and formalities have been completed.
- The repair costs are paid directly to the garage by the company, while you need to pay only your part of the liabilities in case of a cashless claim. For reimbursement claims, the amount will be sent directly to the insured person’s bank account within the stipulated time period.
Frequently Asked Questions
As per the Motor Vehicles (Amendment) Act, 2019, a third-party liability policy is mandatory for vehicle owners to be able to drive their vehicles on Indian roads. However, for better and enhanced protection, it is advisable to opt for comprehensive car insurance as it covers its own damage along with third-party liabilities. All Indian vehicle owners can purchase SBI General’s Comprehensive Car Insurance Policy and secure their vehicle from any mishaps.
6973 network garages are spread all over the country.
Comprehensive car policy of SBI offers coverage for CNG/LPG bi-fuel kit.