SBI Standalone Own Damage Bike Insurance

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SBI General Two Wheeler Insurance Highlights

SBI General (Two Wheeler 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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Claim Settlement Ratio
89
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Video Claim
Available
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Usp
-- App based claims % - 68% of claims are handled through LVS. Customers can to do Self Survey and upload documents through this facility
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close -- App based claims % - 68% of claims are handled through LVS. Customers can to do Self Survey and upload documents through this facility
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Spot Claims
Available upto Rs 10,000

Riding a two-wheeler on roads comes with risks. Obtaining two-wheeler insurance for your bike is beneficial in terms of protecting your hard-earned savings and peace of mind. The Indian Motor Vehicles Act, 1988 has made it compulsory to obtain an insurance policy to safeguard third-party interests. However, purchasing only a third-party insurance policy is not enough as it does not give any protection for your damages arriving out of any accident involving your bike or scooter. 

The SBI standalone bike insurance covers all of your damages arriving in an accident. So if you purchase SBI standalone bike insurance with your existing third-party insurance, it will work out as an all-rounder policy in mishaps.

How does SBI Standalone Two Wheeler Insurance Policy Work?

The processing of the SBI standalone bike insurance is quite simple. You can easily buy the standalone on SBI bike insurance online nowadays by visiting the company's official website. Follow the below steps to purchase your SBI standalone two-wheeler insurance online:

  1. Go to the website.
  2. Enter your bike’s registration details.
  3. Select the type of insurance you desire for your bike.
  4. You can also proceed without the bike registration number.
  5. Choose add-ons as per your wish.
  6. Make the payment.

You can quickly get your bike insured with SBI two-wheeler standalone insurance online by following these steps.

SBI Standalone Bike Insurance vs. Third-party Bike Insurance vs. Comprehensive Bike Insurance

The difference between the three is covered below:

Basis For DifferenceStandalone Bike Insurance Third Party Bike InsuranceComprehensive Bike Insurance
CostThis type of insurance gives more coverage than third-party insurance. Therefore the premium cost is relatively high.It is the least expensive insurance policy compared to both standalone and comprehensive bike insurance policies.It is the most expensive one as it offers standalone and third-party insurance cover features.
CoverageIt offers compensation for  own damages of the bike owner, such as road accidents, theft of the two-wheeler, etc.Offers compensation only for third-party losses includes third-party bodily injuries, disability, death, or property damage.A comprehensive bike insurance  offers coverage of own damages and third-party liabilities.
Add-onsThere are several add-ons that the policyholder can choose from.A third-party insurance policy does not offer any add-ons in the cover.The bike owner has many add-on options to make their comprehensive insurance policy attractive and valuable.
NeedNot compulsory to buyMandatory by lawNot compulsory to buy

What All is Covered Under SBI Standalone Two Wheeler Insurance Policy?

The SBI two-wheeler standalone insurance gives you the coverage for the following:

  • Damages due to road accidents are covered under the own damage insurance.
  • If your bike/scooter catches fire or gets in contact with an explosion, then the insurance company will give you financial protection.
  • In case of a total loss of the bike/scooter, the insurance policy is your protector. Apart from this, if the bike gets stolen, you need not worry.
  • Damages arising from natural disasters like earthquakes, landslides, etc., are also covered.
  • The damages due to manmade calamities such as riots, strikes, and terrorism are also covered.
  • Transportation damages are also covered.

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

  • Third-party liabilities such as bodily injuries, death or property damage.
  • General breakdowns such as mechanical and electrical faults are not covered.
  • Using the vehicle for unlawful activities resulting in damages is not protected.
  • Damages from riding the bike/scooter with an expired DL
  • If the rider is drunk or is on drugs, the damages will not be reimbursed.
  • Damages due to unfortunate events out of the geographical limits of India.

SBI Standalone Two Wheeler Insurance Policy Benefits

  • Under different scenarios, it will take care of your bike and protect you from any mishappening.
  • You can get a no-claim bonus for every claim-free year as a reward for your bike insurance.
  • There are plenty of add-ons available to strengthen your policy further.

SBI Standalone Two Wheeler Insurance Policy Review

Many individuals trust SBIG in India, and its attractive insurance policies help them ride their vehicles without any tension and anxiety. Many customers find its procedure smooth and seamless. The claim settlement ratio is also very high, due to which it has been one of the best insurance companies in India.

SBI Standalone Bike Insurance FAQs

  • 1. Is SBI standalone bike insurance mandatory to obtain?

    No, only third-party insurance is mandatory. However, you are advised to have additional cover for better protection, such as SBI standalone bike insurance or comprehensive insurance.

  • 2. Can I obtain standalone insurance for my bike if I don't have a third-party cover?

    You need to have at least a third-party insurance before getting a standalone one.

  • 3. How does the insurance company calculate my SBI standalone bike insurance premium?

    A premium calculator considers many factors such as IDV, engine cc, and add-ons for calculating the premium.

  • 4. Can I buy standalone and third-party insurance from two different insurance companies for my bike?

    Yes, there is no restriction on buying them from the same company. 

  • 5. Can I shift from my SBI, my third-party bike insurance, to SBI's damage bike insurance?

    Yes, it's allowed only when you have third-party insurance in existence.

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