- No sub-limits on room & ICU rent
- Zero limit on doctor’s fees
- add-on covers available
- Availability of flexible plans
Most Popular Policies of SBI General Insurance
- SBI Health Insurance Policy
This health plan provides utmost financial protection to policyholders in time of hospitalization and other treatment expenses.
Key features of health insurance plan
- SBI Motor Private Car Insurance Plan
The plan provides coverage to the policyholders' own vehicle and damage and loss of third party cars.
Key features of Private Car Insurance Plan
- Coverage available against third party liabilities
- Damages to policyholders' own vehicle is covered
- Personal accident coverage is available
- Availability of add-on covers
- SBI Long Term Home Insurance Policy
This home insurance plan offers complete and lasting protection to the residence of the policyholders.
Key features of Long Term Home Insurance Policy
- In-built coverage against earthquake
- Wide range of policy tenure from 3 to 30 years
- Optional coverage against terror act available
- Protection available against water tanks burst, missile testing operations
- SBI Individual Personal Accident Policy
This policy provides compensation against death, disabilities and loss of income of policyholders because of an Accident.
Key features of Individual Personal Accident Policy
- Allowance available for hospitalization with add-on cover
- Permanent Total Disability benefit available
- Adaptation Allowance and Education Benefit available with add-on cover
- Availability of cumulative bonus
SBI General Car Insurance Plans
SBI General car insurance policy is known as Private Car Package Policy and it provides comprehensive coverage to its customers on the road.
Coverage of SBI General Car Insurance Policy
All third-party liabilities as mandated by the law if the insured causes the damage.
Death, physical injury and damage of the property of the insured due to natural calamities , fire and man-made disasters like theft, burglary, terrorism, war and also because of mishaps in transit.
Coverage for Personal Accidents Losses
Compensation up to a maximum of Rs.2 lakhs.is available for the owner.
Other passengers are also entitled to claims up to a maximum of Rs. 2 Lakhs if they are are also insured individually.
Optional Coverage Available on Additional Premium
- Depreciation waiver
- Protection of No-Claim Bonus
- Replacement of keys:
- Recompensing paid employees
- Personal belongings cover
- Invoice Value
Price of SBI General Car Insurance Policy
- The cost of SBI General car insurance policy is worked out on the basis of the profile of each customer, hence low-risk clients are rewarded with low-priced SBI General car insurance policy
- Applicants in the age-group of 36 – 60 years are eligible for discounts
Sum Assured of SBI General Car Insurance Policy
The Sum Assured is determined by the adjusted selling price of manufacturer after taking depreciation into account. The Sum Assured is also known as the Insured’s Declared Value or IDV.
To work out the IDV, a certain percentage of the depreciation is adjusted which increases as the car gets older. In case of total or constructive loss the following schedule is applicable.
- 6 months – 5%
- Between 6 months and 1 year – 15%
- Between 1 and 2 years – 20%
- Between 2 and 3 years – 30%
- Between 3 and 4 years – 40%
- Between 4 and 5 years – 50%
As agreed between the insurance company and the insured For automobiles that are over 5 years old and makes of which vehicles are obsolete insurance company and the insured make a mutual agreement to arrive at the Sum Assured.
Discounts Available on SBI General Car Insurance Policy
- Policyholders are entitled to No-Claim Bonus in the following situations;
- After every claim-free policy period
- Upon renewal if the policy renewal is done within 90 days after expiry
- Discount is available up to 50% of due premiums
- Discount is available if the NCB is transferred to or from any other insurer
- Policyholders can opt for voluntary deduction under this plan and avail discounts on premium.
- Customers in the age-group of 36 – 60 years are eligible for age-related discounts
Exclusions of SBI General Car Insurance Policy
The comprehensive car insurance policy comes with some exclusions. The following are the losses that SBI General car insurance plan doesn’t cover.
- Consequential loss
- Loss in value resulting out of the advancing age of the vehicle
- Losses due to electric or mechanic fall outs
- Losses due to usage of vehicle out of specified limits and out of specified locations.
- Damages due to driving after being intoxicated and without valid license
- Damages caused by nuclear activities and war