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SBI Comprehensive Bike Insurance
SBI comprehensive bike insurance policy provides coverage and protection for your two-wheeler from damages and losses, accidents, theft, disasters, and so on. It also comes with a wide variety of add-ons that you can opt for in addition to the comprehensive bike insurance, like roadside assistance cover, zero depreciation cover, and many more. Insurance companies also provide third-party insurance that will cover the damages occurring to the third party. Read on to know more about SBI comprehensive bike insurance policy.
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SBI Bike Insurance
- SBI Comprehensive Bike Insurance
SBI General Comprehensive Insurance vs Third-Party Insurance
| Category | Comprehensive Bike Insurance | Third-Party Bike Insurance |
| Coverage | It covers third party's damages and damages incurred by the insured's bike during an accident | The third-party bike insurance provides coverage for the damages and losses incurred by a third party from the insured bike |
| Nature of Requirement | This insurance is not mandatory as per the Motor Vehicles Act | This insurance is mandatory under the Motor Vehicles Act in India. Not having third-party bike insurance will lead to the payment of heavy fines |
| Add-ons availability | Various kinds of add-ons can be opted for by an individual under third-party bike insurance | There are no add-on covers available with third-party bike insurance |
| Cost | The premium is on a higher side because of extensive coverage benefits | Third-party insurance is comparatively less expensive because of the limited coverage benefits |
Inclusions of SBI Comprehensive Bike Insurance Policy
SBI comprehensive bike insurance provides extensive coverage of different kinds. Following are the things that are covered under this two wheeler insurance:
- Own damage cover– SBI bike insurance policy covers damages and losses incurred by the insured's bike due to theft, accident, natural disaster, etc.
- Personal accident cover–The comprehensive bike insurance provides compensation for the loss or damage caused to any bike parts that may have occurred in an accident.
- Third-party liability–Any loss or damage to the third party's vehicle, person, or property due to the occurrence of an accident caused by the insured bike is also covered.
- Fire damage–Coverage is provided if the insured bike incurrs any damage by fire or an explosion.
Exclusions of SBI Comprehensive Bike Insurance Policy
SBI comprehensive bike insurance does not cover the following expenses:
- Regular wear and tear of the bike and its parts
- If the driver was found to be under the influence of drugs and alcohol
- Mechanical breakdown of the bike
- When the driver was driving without a license
Explore Sbi General Bike Insurance
SBI Comprehensive Bike Insurance Benefits
An individual who wishes to opt for the SBI comprehensive bike insurance is sure to enjoy the benefits that come with it. Some benefits that you may experience after availing the comprehensive bike insurance are listed below:
- Add-on covers – You can opt for a variety of add-on covers in a comprehensive bike insurance. Some examples of add-on covers that you can include in your bike insurance are zero depreciation cover, roadside assistance cover, etc. Therefore, you can customize the plan with add-ons of your choice.
- Personal accident cover –In case of an accident, the policyholder may get a personal accident cover which mounts up to Rs 15 lakh under the comprehensive bike insurance in case of injuries or death.
- Pillion rider cover –Pillion rider cover is also among the many benefits that a two-wheeler owner can avail of by purchasing comprehensive bike insurance to ensure the safety of others who ride with you. Financial assistance will be provided to the pillion rider by covering up the medical expenses due to the accident.
- Coverage to third party liability –This insurance also covers the damages or losses incurred by the third party due to the insured bike. Compensation will be provided to cover up the damages incurred.
FAQs
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Q. What are the significant features of the SBI comprehensive bike insurance plan?
The key features of the SBI comprehensive bike insurance are:
- Variety of add-on covers are provided
- Includes third party liability cover
- Customized policy, according to the convenience of the policyholder
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Q. What should one do in case of an accident by the insured bike?
In case of an accident, contact SBI General Insurance Company’s Customer care number 1800 22 1111. You can also get in touch with the experts at Policybazaar Insurance Brokers Private Limited at 1800-208-8787 or write to them at care@policybazaar.com
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Q. Is it compulsory to buy comprehensive bike insurance policy?
No. As it is not mandated by law, purchasing depends upon you and your requirements.
Two Wheeler Comprehensive Insurers
Bajaj Allianz Comprehensive Bike Insurance
Go Digit Comprehensive Bike Insurance
HDFC ERGO Comprehensive Bike Insurance Policy
ICICI Lombard Comprehensive Bike Insurance
IFFCO Tokio Comprehensive Bike Insurance
Liberty Comprehensive Bike Insurance
National Comprehensive Bike Insurance
New India Assurance Comprehensive Bike Insurance
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Bike insurance companies
Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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Read more^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial).The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively.Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
