SBI General logo

SBI Two Wheeler Insurance

SBI General Insurance Two Wheeler Package Policy

This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together with loss or damage to the Vehicle itself.

Key Features

Some of the key features of this product include:
  • Customised Pricing based on your Profile.
  • Avail discount if you are aged between 25 and 55 years
  • Enjoy additional discount for insuring your vehicle without a break
Request a Call Back
Name is required
Email is required
Contact is required
Thank you for contacting us

SBI General Two Wheeler insurance review

  • Scope
  • Coverage
  • Sum Insured
  • Exclusions
  • Claims
  • Add on Covers

Scope of Cover

The scope of the coverages under this policy include:
  • Third party liability: protects against any legal liability arising out of the use of the vehicle, towards third parties arising on bodily injury to / on death of a person and any damage caused to third party property
  • Loss or damage to the vehicle: The policy covers against any loss or damage caused to the vehicle or its accessories due to the following natural and man made calamities.
  • Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
  • Man made Calamities – Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, and any damage in transit by road, rail, inland waterway, lift, elevator or air.

Coverage

This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together with loss or damage to the Vehicle itself. Coverages include:
  • Third party liability: Protects against any legal liability arising out of the use of the vehicle, towards third parties arising on bodily injury to / on death of a person and any damage caused to third party property.
  • Loss or damage to the vehicle: covers against any loss or damage caused to the vehicle or its accessories due to the following,
  • Fire, explosion, self-ignition, accidental damage by external means
  • Any damage in transit by road, rail, inland waterway, lift, elevator or air.
  • Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
  • Burglary, theft, riot, strike, malicious act and terrorist activity
  • SBI General's Two Wheeler Package Policy provides compulsory personal accident cover of Rs. 15 lakh for individual owners (holding a valid driving license) of the vehicle while driving. This is not applicable for a Company owned vehicle.
  • Pillion Rider of the two wheeler can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs. 1 lakh. You may also opt for higher limits in Personal Accident cover

Sum Insured under SBI General’s Two Wheeler Package Policy

The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the following rates :
Age of the vehicle % of Depreciation
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%
If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the Sum Insured over and above the IDV.

Personal accident cover:

The motor insurance provides compulsory personal accident cover of Rs. 15 lakh *

Additional Covers at Extra Cost

  • Occupants of vehicles can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs. 1 lakh per person, in case of two-wheelers and Rs 2 lakh per person for other class of vehicles. You may also now opt for higher limits in Personal Accident cover
* Available only if the owner of the vehicle holds a valid driving license

Discounts Available under SBI General’s Two Wheeler Package Policy

No Claim Bonus

If you do not make a claim during the Policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the Policy is renewed within 90 days of the expiry date of the previous policy.) Transfer of NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another company.

Anti Theft Devices
In case you have installed an ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs 50/- for two wheelers.

Exclusions under the Two Wheeler Package Policy

Any loss/damage to the vehicle and/or its accessories will be not be covered if caused by the following:
  • Normal wear, tear and general ageing of the vehicle
  • Depreciation or any consequential loss
  • Mechanical/ electrical breakdown
  • Vehicle being used otherwise than in accordance with limitations as to use
  • Damage to / by a person driving the vehicle without a valid license Damage to / by a person driving the vehicle under the influence of drugs or liquor
  • Loss / damage due to war, mutiny or nuclear risk

How to file a Claim under you Two Wheeler Policy with SBI General?

Kindly approach SBI General through any of the following: Phone : 1800 102 1111
Email notification : customer.care@sbigeneral.in and get your claim number / reference number.
SMS : "CLAIM" to 561612
By letter /Fax : "Natraj", 301, Junction of Western Express Highway & Andheri Kurla - Road, Andheri (East), Mumbai - 400 069
Submitting manual claim form at any of SBI General’s branch

Minimum information Required while registering a claim:
  • Insured’s details
  • Policy Number
  • Loss details such as
    • Date of Loss
    • Type of Loss
    • Loss Location
  • Contact Details for Communication
  • Completed & Signed claim form along with supporting documents
The Company’s dedicated and experienced claims team aim to deliver a differentiated customer service of a fast, fair, convenient and transparent claims process for the management and settlement of your claim. The Company’s philosophy is to always look for ways to pay valid claims in a fair and timely manner. Their claims service will:
  • Provide assistance in emergency situations
  • Where necessary, co-ordinate repair/replacement of your property if it is damaged or lost
  • Keep you informed of the progress of your claim
The Company will act efficiently to ensure you get back to normal as quickly as possible.

Add on Covers Under SBI General’s Private Car Policy

1 Return to Invoice In case of TOTAL LOSS, CONSTRUCTIVE TOTAL LOSS or THEFT OF THE INSURED VEHICLE the Company will pay for or replace with, a NEW vehicle of same make and model (or a similar model with similar specification available locally in India
2 Protection of NCB NCB eligibility will not be affected provided vehicle is renewed with SBIG, one such claim in the entire pol, vehicle repaired in company authorized garage

Search SBI General Motor Insurance

Brochure

Review SBI General Bike Insurance brochure to understand coverage details.

Know more »

Policy wordings

Review SBI General Bike Insurance policy wordings which explains the terms and conditions.

Know more »
CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2022
-

ONLINE CHAT