SBI Car Insurance by SBI General Insurance Company is a joint venture between State Bank of India owning 74% of the total and Insurance Australia Group ( IAG) holding the rest of 26%.

SBI Car Insurance Plan at a Glance

Features Coverage and Benefits

Third Party Coverage: It protects against any legal liability arising out of an accident.

Incurred claim ratio: 80.37%

Personal Accident Insurance: Up to 2 Lakhs

Network Garages: 1500+ network of garages across India

No Claim Bonus Yes

Features and Benefits of SBI Car Insurance Policy
• Personal Accident: The Motor Insurance Plan provides a compulsory Personal Accident Plan of Rs 2 lakhs for individual owners which are available if the owner holds a valid driving license while driving. However, this is not applicable for company owned vehicle. The occupants in the vehicle at the time of the accident are also covered under the plan to a maximum Sum Insured of Rs 2 lakhs per person.

• Third Party Liability: This policy provides for legal liability coverage for the third party as well which is mandated by the law.

• Damage to vehicle due to natural calamities like storm, flood, etc. or any burglary, theft or act of terrorism

• It covers for the following things as well for an additional premium :
o Additional legal liabilities towards Paid Driver and employee: This plan also covers the additional legal liabilities towards paid driver employed during the accident of the vehicle and also the employees travelling or driving the vehicle
o (Other than the driver).
o Nil Depreciation: It ensures that one gets the full amount that he claims without any deduction of the depreciation value on parts of the car.
o Bi-fuel kit: The plan also covers the CNG LPG Bi Fuel Kit.
o No Claim Bonus Protection: The Company will sustain the No Claim Bonus on payment of additional premium provided :
• The vehicle is renewed with the company.
• Only one single claim was made during the policy tenure.
• The insured vehicle is repaired in a Garage which is authorized by the Company.
• The rate of No Claim Bonus at the time of renewal will be at par with the time prior to the loss he has incurred.