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

SBI General Insurance has already benefited thousands of people and gained their trust over the years. By obtaining the SBI third-party bike insurance, you can fulfill the mandatory requirements of the Indian Motor Vehicles Act, 1988, for your two-wheeler to be driven on roads.

The SBI 3rd party bike insurance protects against all the third-party liabilities arising out of accidents involving your bike You can get coverage against third-party injuries, death, or property damages with the Bike insurance policy.

How does SBI Third Party Bike Insurance Work?

The process to claim the settlement under the SBI 3rd party bike insurance is quite easy and speedy. First things first, you must contact or inform your SBI bike insurance provider in case of an accident as soon as practicable. It is advisable not to do settlements with a third party without informing the insurance company. Once you have given the information about the accident, the company will send its surveyor as its representative who is responsible for the bike inspection and estimation of the total loss incurred. Once the company approves the surveyor's report, it will initiate the claim settlement against your application within a few hours.

SBI Third Party Bike Insurance vs. Comprehensive Bike Insurance

Basis for DifferenceSBI Third Party Bike InsuranceSBI Comprehensive Bike Insurance
RequirementIt is mandatory by the Indian Motor Vehicles Act regulations to obtain at least third-party insurance for your bike.This is a personal choice of the vehicle owner to get a SBI comprehensive insurance policy for their two-wheeler.
CoversThis policy gives coverage of the financial and legal liabilities of a third-party to protect their interest.Not only third-party, but the vehicle owner can also get coverage of their damages in a comprehensive insurance policy.
Add-onsSBI does not offer the add-ons in a third-party bike insurance policy.Here, the SBI provides a range of add-ons to choose from under its comprehensive insurance policy.
Premium costAs compared to a comprehensive policy, SBI two-wheeler insurance third-party premium rate is low.On the contrary, they charge a little extra amount of premium due to the extra benefits it offers.

How to Buy SBI Third Party Bike Insurance Policy?

There are three ways to obtain an SBI third-party bike insurance cover- website, visiting the nearest branch, or dialing the toll-free number- 1800-102-1111. To get the premium offline, you can visit the nearest branch of SBI to your location and get the procedure done. However, buying the SBI third party bike insurance online is much easy and simple. All you need is to have a good internet connection to get the insurance done for your two-wheeler. With the SBI third-party two wheeler insurance policy online, you can save both your time and effort. Follow the below steps to get it done-

What All is Covered Under SBI Third Party Bike Insurance Policy?

Below are the inclusions of SBI third party insurance for two wheeler-

  • Third-party financial liabilities that includes injuries, death and property damage.

What All is not Covered Under SBI Third Party Bike Insurance Policy?

Unfortunately, the insurance excludes the below coverage in a third-party bike insurance -

  • The bodily injuries or bike owner are not covered under a third-party bike insurance.
  • Damages caused due to illegal driving are not covered.
  • Damages caused due to drunk driving are not covered.
  • Damages caused when the driver was without a valid DL/policy are not covered.

Key Benefits of Purchasing SBI Third Party Bike Insurance

There are plenty of benefits of buying SBI third party bike insurance, which include-

  • The company pays you the reimbursement for the financial expenditure of a third party.
  • Provides coverage to cover damages against third-party property, death, or bodily injuries.
  • Offers you peace of mind as you are financially protected against legal liabilities
  • Keeps you away from paying heavy fines and penalties.

SBI Third Party Bike Insurance Review

With the help desk service on its online portal, SBI has enhanced the policyholders' experience to cater to their needs. SBIG is one of India's oldest insurance service providers, with above 11.5 lakhs of happy customers. If you buy the SBI third-party bike insurance, you can save up to 75% of the premium.

SBI Third-party Bike Insurance FAQs

  • 1. How can I check my SBI third-party bike insurance status?

    You can simply log in using your registered mobile number and vehicle registration details to check your bike insurance status at SBI's official website.

  • 2. What are the payment modes available to pay for my SBI third-party bike insurance premium?

    You can either pay in cash at SBI's nearest branch or you can choose to pay with a debit/credit card or net banking at SBI's official website.

  • 3. How can I contact the company for claim settlement for SBI third-party two-wheeler insurance?

    You can either call the toll-free number 1800-102-1111 or SMS "Claim" to 561612.

  • 4. Am I still eligible to claim for my SBI two-wheeler insurance third-party if my bike was driven by someone else at the time of the accident?

    Yes, there is no worry. You can still get a claim even if someone else was driving the bike in your place.

  • 5. Should I renew my third-party bike insurance policy every year?

    No, since SBI offers a long-term package/bundled bike insurance third-party policy for 2 or 3 years, you are not required to renew it every year.

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