SBI General Insurance has gained the trust of countless individuals throughout the years by offering support during all of life's uncertainties. The SBI General Insurance third-party bike insurance coverage enables policyholders to comply with the Indian Motor Tariff Act's requirements while protecting them from third-party liability. This insurance covers all of your monetary and legal obligations related to the insured's motorcycle to third parties.
SBI General Insurance has made an effort to improve the policyholders' experience through its online portal and active help desk assistance. The bike insurance policy provides coverage for any third-party losses, injuries, or deaths resulting from accidents involving the insured's bike.
What All is Covered by SBI Third-party Bike Insurance?
The SBI third-party bike insurance policy covers the following:
- Financial Obligations for Third-party Property Damage: Any third-party property damage incurred as a result of the insured bike is covered by third-party bike insurance. The insurance offers up to INR 7.5 lakh in reimbursement for third-party property damage.
- Third-party Physical Injury/Death: The third-party bike insurance coverage will pay for any third-party bodily injury, disability, or death brought on by the insured's bike. A court of law determines the compensation amount.
- Vehicle Damage or Loss: SBI General's bike insurance policy protects the insured against vehicle damage or loss caused by any of the following reasons.
What is Not Covered by SBI Third-party Bike Insurance?
The third-party insurance policy only provides a small amount of coverage for bike insurance, and various issues are not covered. The following items are excluded from the third-party bike insurance plan:
- There is no protection for damage to the insured's bike.
- There is no reimbursement for the policyholder's injuries.
- The normal wear and tear of the bike.
- Any mechanical and electrical breakdown of the bike.
- Damages occured under the influence of drugs and alcohol.
- If the rider is riding the vehicle without a valid DL, RC and insurance policy.
SBI Long-term Third-party Motorcycle Insurance Policy
SBI General Insurance provides third-party long-term two-wheeler insurance policy for 5 years. The plan includes third-party liabilities only. The following are the key components of the SBI General multi-year bike insurance policy:
- There is no need to renew the insurance plan every year.
- Protection for 5 years at a reduced cost.
- Ideal for first-time two-wheeler owners.
- There is no effect of a change in service tax on premiums.
How Do I Purchase a Third-party Two-wheeler Insurance Policy from SBI?
One of the leading general insurers in India is SBI General hence it makes your policy buying journey smooth and hassle-free. Visit Paytm Insurance to purchase an SBI General bike insurance policy online.
Paytm Insurance provides a rapid comparison of the best two-wheeler insurance products, including SBI General. Enter your bike's registration number and press the "continue" button. Before offering the transaction gateway to buy the policy directly, the app presents the quote and terms.
You will get the policy document through email shortly after making the transaction. You can print it off or store it in the DigiLocker and present it to the traffic officers when needed.
It shields the policyholder from the monetary and legal obligations resulting from a collision or accident involving a third-party vehicle, person, or item of property. An SBI third-party bike insurance policy can be purchased for 5 years.
The policy also needs to buy a personal accident policy, where there is an accident, including the bike, the personal accident cover guarantees that the owner would receive up to INR 15 lakh as compensation.