SBI Car Insurance Add on Covers

SBI four-wheeler insurance add-on covers, which are available to you at the time of policy purchase or renewal, help widen your financial coverage against uncertain events. These events don’t necessarily mean an accident or a vehicle theft. Sometimes the engine gets damaged due to water ingress, incurring heavy repair expenditure. SBI four-wheeler insurance policy add-on covers help you overcome the same. 

However, for each add-ons you add to your base insurance policy, SBI will charge an additional premium. So, be mindful of your budget and have those SBI four-wheeler insurance policy add-on covers that you feel are necessary in your case. You may wonder - are these add-on covers available with every four-wheeler insurance policy offered by SBI or specific ones? Well those who have purchased SBI comprehensive four-wheeler insurance policy or SBI standalone four-wheeler insurance policy can buy add-on covers. 

SBI - Thirteen Important Add-On Covers for Your Car Insurance Policy

SBI four-wheeler insurance policy comes with the following add-on covers -

• Depreciation Reimbursement

Depreciation of the vehicle or the parts that are depreciable is not covered iunder the base insurance policy. At the time of the settlement, the depreciation amount is deducted before from your SBI four-wheeler insurance claim amount. With Depreciation reimbursement add-on cover, you do not have to pay for the depreciation. You get 100% compensation for the plastic and metal parts. For the batteries, tubes, and tires, you get only 50% reimbursement. 

• NCB Protection

A no claim bonus (NCB) comes as a huge financial benefit you get on policy renewal on not filing a claim in the past policy year. However, even the smallest claim can wipe out this benefit from your policy bucket. To protect NCB on policy renewal, you can opt for the NCB protection cover. This protects your NCB status for a single claim during the policy period. 

• Return to Invoice

Return to invoice cover aids you if your vehicle is damaged beyond repairs or if it gets stolen. Under this  SBI four-wheeler insurance policy add-on cover, you get the full invoice amount that you paid or the latest value of the same make or model, whichever is less. In addition, you receive registration fees and road tax you must have paid when buying the vehicle.

• Key Replacement

The key might be the smallest part of the vehicle, but it is one of the most vital parts. Replacement of the key can cost you a fortune, not counting the distress that you face along the line. Under this cover, SBI General compensates you up to Rs. 65,000 for the key replacement, that too, only once during the policy period.. 

• Inconvenience Allowance

Vehicles are more of a necessity and a luxury. Theft of the vehicle or repairs post-accident can cause you discomfort both physically and financially. Under the inconvenience allowance cover, you get a cash allowance for transportation if the vehicle stays in the garage for more than three days at one point. The allowance is offered for a maximum of 10 days.

• Loss of Personal Belongings

If your personal belongings get stolen with or without the theft of the vehicle,  this cover will help you. The coverage limit is up to Rs. 50,000, that too, subject to certain deductibles..  

Enhanced Personal Accident Cover

This SBI four-wheeler insurance policy add-on cover helps compensate for the death or disablement of the insured, paid driver or unnamed passengers travelling in the insured car. 

• Roadside Assistance Cover

While traveling, you require assistance in many shapes and forms from time to time. There is a 50 km radius geographical limit on this cover. SBI General provides assistance in the following aspects under this Add On the cover: 

• Contamination or running out of fuel.
• Flat tire.
• Vehicle keys locked in.
• Towing assistance in case of mechanical & electrical breakdown.
• Dead battery.
• Onward journey or hotel accommodation.
• Hospital Daily Cash Cover

This cover requires a minimum of 24 hours to a maximum of 30 days of hospital confinement. The benefit is granted to the driver/owner of the vehicle as well as unidentified passengers remaining in the car at the time of an accident. You get a daily allowance for the hospitalization till the cover period limit or hospitalization days, whichever is the lowest. 

• Engine Guard

This SBI four-wheeler insurance policy covers damage caused to the engine and gearbox due to water ingress or the leakage of lubricating oil. These leakages can make your car immobilized. The vehicle is towed to the nearest garage within two days of water getting removed from those internal parts.  

• Consumable Cover

Expenses towards nut and bolt, washers, lubricant clips, AC gas, bearings, distilled water, engine oil, grease filter, fuel filter screw, and brake oil are all covered under this SBI four-wheeler policy add-on.

• EMI Protector

If your vehicle stays in the garage for more than 21 days, SBI will pay you the lower of the two months’ EMI and sum insured.. 

• Tire and Rim Guard

With this SBI car insurance add-on cover, you get compensated for the expenses involved in repairing or replacing tires and tubes as well as damaged rim in accidental loss cases. The coverage amount would also include labor or service charges incurred on repairs/replacement.