A two-wheeler is not just a mode of transportation in our country, it is like a family member across homes. Millions of Indians depend on it for various purposes, taking utmost care of their bikes. SBI General Insurance offers specialised solutions to those looking to purchase two-wheeler insurance, utilising the huge network of SBI and the insurance knowledge of Insurance Australia Group to provide services and products which are considered among the best in the country.
|No claim bonus (NCB)||A maximum NCB of 50% is available if no claims are made during the policy term.|
|No claim bonus after claim||The NCB reduces with each claim.|
|If plan expires||Accrued NCB becomes redundant, with no protection offered.|
|Network garages||Located across the country|
Choosing the right insurance policy can help offset any risks associated with riding on our roads, with the products offered by SBI offering a host of benefits.
SBI General Insurance offers products which can be used by different individuals. Currently, there are two options available.
SBI General has a few exclusions, with these designed to prevent misuse of the policy.
SBI General could look at a few basic criteria before providing an insurance policy.
It is possible to purchase a bike insurance policy from SBI online. One could log onto the SBI General Insurance website and check the quote for a particular bike, with representatives taking it forward from here.
One can request a call back from officials, who will guide them through the process of purchasing the policy.
Alternatively, there are certain third-party websites which also provide the option of purchasing this policy online.
In the event of an accident involving an insured 2 wheeler, it is imperative that one immediately intimate the insurer. In cases where the person is injured/unable to inform SBI General Insurance, he/she should get in touch with them within a specified period of time.
One can submit a claim online, through the official website of the insurer. This can be done by navigating to the “Services” section, and clicking the “Claim Intimation” tab.
Additionally, one can also initiate the claim process via SMS, by sending an SMS stating CLAIM to 561612.
One will then have to provide personal details like their name, mobile number, email id, and city. Next, they will have to provide details of the incident and click on the “Submit” tab.
SBI General Insurance believes in a fair, fast, and transparent claim settlement process, with the team contacting the owner to take the issue ahead.
It is mandatory to renew a policy which is about to lapse, for using the vehicle without a valid insurance can attract a penalty. Individuals looking to renew their SBI bike insurance can do so online, through the official website of SBI General Insurance.
Additionally, one can also visit any branch of SBI General Insurance to renew a policy.
A deductible is the amount an individual (policyholder) voluntarily agrees to pay in case of any claim. This is a certain percentage, with the insurer paying the remaining portion. In simple words, if one opts for a 10% deductible, he/she will pay 10% of the amount in case of any damage, with SBI General Insurance paying the remainder.
Choosing a higher deductible results in a drop in premium rates, helping one save money initially. However, in the event of an accident, one will have to shell out a certain amount. Alternately, choosing a lower deductible results in an increased premium amount, with no personal liability involved.
One should opt for a deductible based on their riding habits, with it important to consider their current financial position as well.
In case the bike insurance provided by SBI General expires, one should immediately renew it. It is imperative that this policy is renewed immediately, failing which no cover will be provided in the case of any loss/damage.
One should contact the insurer, providing relevant information in order to renew the policy. In case the policy is inactive for over a certain period of time, a physical inspection of the bike might be necessary before the insurance is given.
Also, one might have to pay a higher premium, with there being a chance for the no claim bonus to become invalid in case of lapse.
SBI has a dedicated customer care division which caters to any problem a consumer could have. One can reach company officials on their toll free number - 1800 22 1111.
Yes, SBI General Insurance provides an option to renew a policy which was initially offered by a different insurer.
No, company officials manning the toll free number work between Monday and Saturday, between 8 A.M. and 8 P.M. only.
Yes, the No Claim Bonus will be permitted if the policy is renewed within 3 months (90 days) of expiry.
Yes, it is possible to opt for a higher personal accident cover. SBI General currently has a minimum cover of Rs.1 lakh, which can be increased by paying an additional amount.
Yes, such bikes can be covered by a motor vehicle insurance policy. In addition to the cover, SBI General also provides a discount on the premium.
Your premium payable will vary based on a number of factors such as the type of policy chosen, add-ons purchased, tenure of the policy, age of vehicle, Insured Declared Value (IDV) of the two-wheeler, vehicle model, discounts availed, cubic capacity of the vehicle’s engine, geographical zone, etc. The premium rate is also likely to vary from insurer to insurer, especially in the case of comprehensive two-wheeler insurance policies. For this reason, it is advisable to compare insurance plans offered by different insurers before purchasing a policy for your vehicle.
If the modifications were done to enhance the bike’s visual appeal or performance, it is likely that you will have to pay a higher premium since the insurer will have to undertake a higher risk by selling you an insurance policy. However, if you have installed security devices that are approved by the Automotive Research Association of India (ARAI), you will be offered a discount by your insurer.
You should renew your two-wheeler insurance policy before the renewal date mentioned in your policy document. Since having a two-wheeler insurance cover is mandatory, it is best to not renew your policy after it has lapsed.
Yes, comprehensive two-wheeler insurance policies offer a third-party liability insurance cover, an own damage cover, and a personal accident cover to the policyholder.
Yes, you can change your two-wheeler insurance provider at the time of renewing your policy. You can also choose to purchase another insurance policy offered by your insurer.
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