SBI Two Wheeler Insurance Add on Covers

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Two-wheeler insurance add-on covers refer to some additional coverages that you can avail with your comprehensive or standalone own-damage bike insurance policies. The SBI bike insurance add-ons are available in exchange for an additional premium still worth the single penny due to their significant enhancement in the coverage of a basic policy. SBI Two-wheeler insurance add-ons covers are like an icing on the cake that gives strength to the coverage of your bike. There are several two-wheeler add-on covers to be opted from along with the standard bike insurance plans. If you are looking for an add-on cover for your bike from SBI General, you are at the right place. Read the add-on covers by SBI in detail below.

SBI – 3 Important Add-on Covers For Your Two Wheeler Insurance Policy

Add-on covers by SBI two wheeler insurance are pretty affordable and are most popular and can be found commonly with most bike insurance policies. You can select the most appropriate and specialized add-on covers based on your needs and budget. It is not mandatory to purchase add-on covers with a two-wheeler insurance policy. Yet, buying it can provide you with extra protection. Provided the details below to know more about them:

Return-to Invoice

Return-to invoice cover offered by SBI General Insurance allows you to get the full invoice cost of your bike in case of total loss, constructive total loss (more than 70%), or theft. If you buy this SBI two-wheeler insurance add-on cover along with your standard bike insurance policy, then the insurer protects you in case of any financial shortfall between the amount you have to receive under Section I of your bike insurance policy and the cost mentioned in the invoice for purchasing that. It also offers coverage to you against the charges of first-time registration if your bike gets damaged or stolen during the policy tenure.

Protection of NCB

This add-on benefits the policyholders by protecting the no-claim bonus even if they raise a claim in the policy period. This means if you own the SBI bike insurance add-on cover of protection of NCB,  you will be able to retain the already existing no-claim bonus of your expiring policy at the time of renewal of the policy. Provided that this add-on cover can only be availed for a single claim in the period of a policy year.

Zero Depreciation Cover

Depreciation is a natural happening that emerges with time. The burden of bearing the expense of depreciation incurred by a bike, by default, rests with the bike’s owner. A zero depreciation cover offered by SBI General Insurance helps you reduce the stress of bearing the cost of depreciation of your two-wheeler so that you can claim a higher amount. However, with the SBI bike insurance add-on cover, you can claim this depreciation cover only two times under a policy period.  This cover is available only for bikes not older than 5 years.

SBI Bike/Two Wheeler Insurance Add on Cover FAQs

  • 1. What is not covered under SBI zero depreciation add-on cover?

    Under SBI zero depreciation add-on cover, the following risks are not covered:

    • Claim made more than twice within a policy period.
    • Normal wear and tear and repair and replacement due to that.
    • Bikes with an age of more than 5 years.
    • Total loss.
    • Mechanical and electrical breakdown of the bike.
    • Imported bikes.
  • 2. Who should buy the SBI zero depreciation add-on cover?

    Though the zero depreciation add-on offered by SBI General Insurance should be opted for by anyone who owns a bike to avoid the depreciation charge and the cost of repairing or replacing bike parts. Yet, it is best suitable for the following:

    • New or inexperienced drivers
    • Luxury bike owners 
    • Sports bike owners
    • New bike owners
    • For those living in accident-prone zones
  • 3. Is there a fee for the SBI bike insurance add-on coverage?

    Yes, you will have to pay an additional premium amount to buy an SBI bike add-on cover in your basic bike insurance policy to use it to enhance the coverage of your protection under your insurance cover. The price of the opted SBI two-wheeler insurance add-on cover is to be specified in your policy document or online portal of the SBI General Insurance.

  • 4. How many SBI bike insurance add-on covers can I buy at a time?

    There are no limits to how many SBI bike add-on covers you can combine with your basic two-wheeler insurance policy. Hence, you obviously can buy as many SBI add-on covers as you want to add at a time.

  • 5. When can I purchase the SBI two-wheeler insurance add-on covers?

    You can purchase the SBI bike insurance add-on covers when purchasing the SBI bike insurance policy. Also, you can opt for add-on covers while applying for the renewal of your SBI bike policy.

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