SBI Standalone Own Damage Car Insurance

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SBI General Car Insurance Highlights

SBI General (Car Insurance)
SBI General Insurance offers a wide range of general insurance products in retail and commercial space ranging from Motor, Health, Personal Accident, Travel and Home Insurance in the retail space and products like Aviation, Fire, Marine, Package, Construction & Engineering and Liability Insurance in the commercial space.
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Network City Size
3452
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Claim Settlement Ratio
96
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Video Claim
Available
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Usp
-Survey TAT – 4 Hours -Rembuirsement TAT – Within 3 Days from the receipt of Last Document. -68% of claims are handled through LVS. Customers can to do Self Survey and upload documents through this facility. -One Free Body Wash -Warranty on Workmanship Yes*~ * 3 months or Subject to 500 Kms. whichever shall first occur for Mahindra First Choice Workshops ~ 1 Yr Warranty on Painting by Go Mechanic Partner Workshops - Spot settlement is offered for Small Value claims based on claims experience & business volume. Currently we are offering for Claims upto 25K & it may be extended upto 50K in exceptional case on request based on merit.
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close -Survey TAT – 4 Hours -Rembuirsement TAT – Within 3 Days from the receipt of Last Document. -68% of claims are handled through LVS. Customers can to do Self Survey and upload documents through this facility. -One Free Body Wash -Warranty on Workmanship Yes*~ * 3 months or Subject to 500 Kms. whichever shall first occur for Mahindra First Choice Workshops ~ 1 Yr Warranty on Painting by Go Mechanic Partner Workshops - Spot settlement is offered for Small Value claims based on claims experience & business volume. Currently we are offering for Claims upto 25K & it may be extended upto 50K in exceptional case on request based on merit.
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Spot Claims
Available upto Rs 25,000
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Advance Cash
Available upto 75%
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Accidental Repair Warranty
6 months accidental repair warranty
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close 6 months accidental repair warranty
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Pickup Drop Free
Yes
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Emergency Assistance
Available 24/7
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Accreditation
Dual ISO Certification
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Policies Issued
2 crore+

SBI standalone own damage car insurance covers the damage caused to your insured vehicle due to an accident, riot, strike, earthquake, cyclone, etc. The financial cover provided against your own car damage does help you meet the tall costs of repairs, which otherwise would be hard to pay. Besides, policyholders also have additional benefits such as add-on covers to boost their overall coverage against uncertain events. Let’s check how this policy fares in terms of comprehensive and third-party liability cover variants.

SBI Standalone Own Damage Car Insurance vs SBI Third Party Car Insurance vs SBI Comprehensive Car Insurance

The table below mentions all the differences in the specifications of the SBI standalone own damage car insurance, SBI third-party car insurance, and SBI Comprehensive Car Insurance are mentioned below:

SBI Standalone Own Damage Car InsuranceSBI Third Party Car InsuranceSBI Comprehensive Car Insurance
The benefits stated in the policy and the financial protection only serve the policyholders. The benefits stated in the policy and the financial protection only serve the third party.The benefits stated in the policy and the financial protection serve both the policyholders and the third party involved in an accident. 
SBI car insurance offers optional add-on covers which you can choose from to boost your coverage.SBI does not offer any add-on covers to policyholders having a third-party liability policy only.SBI offers the add-on covers to customize your policy.
The premium rates are the second-lowest in all the motor insurance offered by SBI.The premiums are the cheapest among all the motor insurance policies offered by the SBI. SBI comprehensive car insurance premiums are higher than those charged under the other two policies.
The policy serves as a complementary policy to third-party insurance. There are no legal obligations on the customers to purchase it.  The third-party policy is obligatory under the Motor Vehicles Act, 1988. If you do not have this cover, you will have to pay the fines. It is also another voluntary policy that customers can choose to purchase or not. However, choosing so will help serve all your vehicle insurance purposes. 

What All is Covered Under SBI Standalone Car Insurance Policy?

SBI standalone own damage car insurance has the following inclusions in the base policy: 

  • Any damage or loss that the policyholder in an accident sustains merits coverage.
  • If the car gets stolen, you can claim SBI Standalone car insurance.
  • Fire, arson, or any explosion that damages your car will make you eligible for the insurance claim.
  • Any manmade act of violence is compensated for.
  • If the vehicle is damaged due to a natural calamity,  it gets you compensated for the damages.

What All is not Included Under SBI Standalone Four Wheeler Insurance Policy?

SBI standalone own damage car insurance has the following exclusions in the base policy: 

  • Damage to the depreciating parts is not compensated under this car insurance policy.
  • If your car breaks down because of a mechanical or electrical failure, repair costs are not compensated.
  • Damages that are sustained by the vehicle outside the geographical limits set by the insurer are not compensated.
  • If the vehicle is damaged at the time you were involved in any sort of illegal activity, including illegal driving, the compensation is not provided to you.

SBI Standalone Car Insurance Policy Benefits

SBI standalone own damage car insurance offers the following benefits to the customers who purchase it: 

  • The protection cover is extended for the vehicular damages and the physical injuries sustained by the policyholder. 
  • You can purchase add-on covers and customize the policy as per your requirements. 
  • The NCB is awarded on SBI standalone own damage car insurance renewal for every year that you go claim-free. 

SBI Standalone Car Insurance FAQs

  • 1. Can I purchase SBI Standalone Own Damage Car Insurance Policy online?

    The whole procedure to purchase the SBI standalone own damage car insurance is digital. You can also buy it by visiting the local branch office or by calling the 2x7 customer care representative. 

  • 2. Do I have to renew my SBI standalone own damage car insurance policy annually?

    The SBI standalone own damage car insurance is offered with a term duration of one year. However, customers can opt for the multi-year policy, which has a term limit of three years. So, they do not have to spend every year renewing the policy. SBI Policy renewal procedure is simple, so you do not have to spend hours renewing it. 

  • 3. Do I have to mention if I purchase the vehicle from the SBI Vehicle Loan?

    This will in no way affect your SBI standalone car insurance policy or premium. But at the time of the policy purchase, you must not hide any information from the insurer that can later become a liability. Therefore, it is advised for you to mention the financer at the time of policy purchase. 

  • 4. Who can purchase the SBI standalone own damage car insurance policy?

    This policy is ideal for those customers who do not want to purchase costly comprehensive policies, and they also want protection for themselves along with third-party protection. 

  • 5. Which are the add-on covers I get along with my SBI standalone own damage car insurance?

    Following are the add-on covers that customers can avail of to customize their SBI insurance policy: 

    • Depreciation reimbursement
    • NCB protection
    • Return to invoice
    • Key replacement
    • Inconvenience allowance
    • Loss of personal belongings
    • Enhanced personal accident cover
    • Roadside assistance cover
    • Hospital daily cash cover
    • Engine guard
    • Cover for consumables
    • EMI protector
    • Tire and rim guard

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