Car Insurance Policy Online
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Car Insurance
Whether you have to commute to work or need a vehicle to get around the city, having a car is a dream come true. With a car to your name, you can travel from one place to another at your convenience and in the utmost comfort. However, your car is susceptible to potential damage, loss, theft, and other misfortunes, and replacing or repairing your car comes with a hefty price tag. Investing in a car insurance policy is one of the ways you can protect your vehicle financially. Continue reading to learn everything you need to know about a car insurance policy.
What Is Car Insurance?
Any damage to your car can be stressful and may become a financial burden. A car insurance policy is specially designed to help you deal with such events with a calm mind and the assurance of a financial safety net.
Car insurance policy is a type of vehicle insurance plan suitable for four-wheelers. Similar to any other vehicle insurance policy, a car insurance policy can be of different types. For example, a third-party liability coverage is a legal requirement for every car in India.
However, if you want to protect your car fully, you should consider a comprehensive car insurance plan. This plan covers your vehicle’s damages as well as the third-party property or vehicle damage in case of an accident.
Make sure you have an active car insurance policy at all times of owning the vehicle to avoid legal troubles and keep your beloved car insured. It is also important to choose the right car insurance policy and appropriate add-ons depending on your requirements to adequately cover your car.
Different Types Of Car Insurance
Key Benefits Of SBI General Car Insurance Policy
| SBI General Key Features | Benefits |
|---|---|
| Car insurance premium | Starts at ₹2094[AD1] * |
| Cashless garages | Over 7000 network garages Basic + additional roadside assistance |
| No claim bonus | Up to 50% |
| Add-on covers | Approx 13 add-ons |
| Third-party damage cover | Covers injury/death of any third party and damage to any third-party property |
| Personal accident cover | ₹15 lakhs for individual owners ₹2 lakhs/passenger for occupants of the vehicle |
| Own damage cover | Covers fire, explosion, accidental damage, natural calamities, theft, riot, strike, malicious activity, etc. |
| Claim settlement ratio | 98% for FY 2022-23 |
Secure your ride with our Comprehensive Car Insurance!
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Reasons To Buy Your SBI General Car Insurance Policy Online
Mandatory Requirement
According to the Motor Vehicle Act 1988, every vehicle in India must have an insurance policy that covers third-party liability at least. If your car does not have an insurance policy, you can incur penalties like fines and suspension of your driving license.
Financial Protection
You can enjoy peace of mind after investing in a comprehensive car insurance plan to cover the damage or loss of your car from theft, fire, vandalism, and accidents. Did you know that some insurance plans also cover the cost of legal fees in case the insured is sued after an accident?
Liability Coverage
Liability coverage protects you if a third party who suffers damages to property or person during a collision brings financial or legal action against you.
Room for Customisation
Many insurance plans offer different add-on covers so that you can customise the coverage of your plan. You can either opt for basic third-party liability insurance or go for a complete coverage plan with add-on covers like return-to-invoice cover and critical replacement cover.
Who Can Buy A Car Insurance Policy?
If you’re worried about whether you can buy car insurance, there’s no need to worry. As far as third-party insurance is concerned, every car owner must invest in it. Whether you have a new or used car, you must purchase third-party insurance.
You can purchase a comprehensive cover and personal accident cover to enhance your protection. All you need to do is make sure you’re financially prepared to pay the premiums for the policies you choose. You can also use online calculators to understand what the premium payable would be each month to make a financially informed decision.
There are numerous car insurance plans that you can choose from. Whether you are looking for a plan with affordable premium options and discounts or going for all-rounder coverage, you can find the most suitable car insurance plan with SBI General.
What’s Covered Under The Car Insurance Policy?
Damage/Loss
The car insurance policy helps cover the damage caused to your car, the driver, or a third party. Similarly, suppose your car suffers damage due to a faulty ignition or is stolen or damaged during any calamity. In that case, you can recover the costs with the help of the vehicle insurance policy.
Personal Accident Cover
The car insurance policy offers personal injury protection to drivers and provides coverage against permanent/total disability and death caused due to an accident. Car insurance also offers excess coverage that extends to other passengers on board at the cost of a pre-determined amount. SBI General Car Insurance Policy provides coverage worth ₹15 lakh for individual owners of the vehicle while driving.
Third-party Liabilities
If your car is involved in a collision or accident, you might have to deal with damage or loss to the property or person of a third party. If such a liability arises, you can fall back on the insurance policy and cover the financial costs raised against you. The policy also protects you from any legal liability that arises in case your car is involved in the injury or death of a third party.
No Claim Bonus
While there are several perks of using the car policy, not using it has its own advantages. You get to enjoy a No Claim Bonus (NCB) for every claim-free year. An NCB can comprise a discount on premiums payable or other perks that make the policy even more pocket-friendly than it already is.
Roadside Assistance
Roadside assistance covers the cost of seeking mechanical assistance in case of a breakdown, collision, or aid when you’re stranded on the road. It is also known as towing coverage.
What’s Not Covered Under The Car Insurance Policy?
Accidental Damage Caused If Owner is Not Driving
Damage or loss of vehicles may not be covered when someone else is driving your car. If you are the vehicle owner and meet with an accident, your insurance will cover the costs incurred, but it will not cover those if the car was being used by someone else at the time of the accident.
Accidental Damage Caused by Unauthorised Driver
When you purchase the insurance policy, you must provide the name of each person who will be driving the car. Any accident caused by an unauthorised driver will not be covered. Any loss or damage that occurs when the car is used by a driver who is not authorised will not be covered under insurance.
Damage Caused by Driver Without Valid Driver’s Licence
Your car insurance plan will not cover losses or damages that occur when a minor drives the car or if the driver does not have a valid driving license.
Damage Caused by Intoxicated Driver
If the damage occurs when the driver is under the influence of alcohol or drugs, your car insurance will not cover the costs.
Don’t wait until it’s too late. Protect your vehicle and your peace of mind with our Comprehensive Car Insurance.
How To Buy A Car Insurance Policy Online?
Input your car registration no, mobile number and pin code, and click ‘Proceed.’
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Evaluate the covers based on features and add-ons. Choose a suitable motor insurance policy for your vehicle.
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Input all the details, such as proposer details, EIA, nominee details, etc.
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You can pay online and get your policy right away in your inbox.
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Factors Affecting Car Insurance Premium
Vehicle Make and Model
The sort of car you have has a big impact on your premium. Luxury and high-end vehicles often have higher rates due to increased repair and replacement expenses.
Vehicle Age
Newer cars usually have higher premiums compared to older cars. This is because newer vehicles have a higher market value and are more expensive to repair or replace.
Location
Your place of residence impacts your premium. Cars in urban areas with high traffic and accident rates have higher premiums than those in rural areas.
Driver’s Age and Gender
Younger drivers, usually sometimes males, may incur higher premiums because of statistically greater accident rates. Older, more experienced drivers usually enjoy lower premiums.
Type of Coverage
Comprehensive policies offering extensive protection against various risks will cost more than basic third-party liability coverage.
Add-ons
Additional covers such as zero depreciation, engine protection, and roadside assistance increase the premium. Choose add-ons based on your specific needs to balance coverage and cost.
No Claim Bonus (NCB)
If you haven’t made any claims during the policy period, you can benefit from a No Claim Bonus, which provides a discount on your renewal premium.
Safety Features
Cars equipped with anti-theft devices, airbags, and other safety features often have lower premiums as they are less likely to be stolen or cause injury.
Why Should You Buy A Car Insurance Policy Online?
Convenience
Purchasing insurance in person requires heading to a brick-and-mortar office or issuer branch, standing in long lines, or being shuffled from department to department. When you purchase insurance online, you can do away with such inconveniences. You can make your purchase from anywhere, anytime, from the comfort of your home.
Timesaving
Often, investing in an insurance policy can be a tedious process that takes up a fair bit of time. From standing in queues to tackling plenty of paperwork, before you know it you’ve spent hours buying insurance. However, doing things online is different. You can purchase insurance in a matter of minutes. The documentation requirement is sparse, and the entire process takes a few clicks.
Easy Comparisons
If you want to take a look at multiple insurance plans from different providers in person, you might have to run from post to pillar. Purchasing insurance online helps you compare widely different plans in minutes. All you have to do is head to a couple of websites and see what kind of coverage a plan offers at what cost.
Hassle-free
Everything is more streamlined online, from checking the insured value of your vehicle to tackling the claims process or asking for coverage extensions. You can complete every process online, without needing the help of an insurance agent.
Robust Customer Support
Often, while applying for a car policy or filing claims, you might find yourself stuck on a point of technicality or have questions about the process. Instead of having to figure things out on your own, an online platform offers a robust network of customer service, which may even be available 24×7. When you apply for car insurance online, you get detailed instructions that address almost any question. However, if you have additional queries, you can seek assistance via a chatbot or reach out to the customer services helpline to get an answer rapidly.
Want to save big on your Car Insurance?
Discover our top 6 tips to slash your premium and keep more money in your pocket. Drive smart, save more!
Tips To Reduce Your Car Insurance Premium
Install Anti-Theft Devices
Always equip your car with anti-theft devices approved by the Automotive Research Association of India. This can potentially lower the risk of theft and can lead to you getting a discount on your premium.
Try to Opt for a Higher Voluntary Deductible
Choosing a higher voluntary deductible means you agree to pay more out of your own pocket in the event of a claim. This can significantly reduce the premium you pay and showcase you as a responsible, low-risk driver.
Claim Smartly
You can always avoid making claims for small, minor damages. Saving your No Claim Bonus (NCB) can lead to a good amount of discounts on your premium. Accumulating this saved NCB over the years can help in maintaining a lower premium.
Renew on Time
Timely renewal of your policy is always extremely important. Late renewals may lead to the loss of your saved-up NCB and could require a car inspection, both of which can increase your premium. Make sure that you renew your policy before it expires to avoid these additional costs.
Documents Required To Avail Online Insurance For Your Car
- Proof of Identity and Address: Official ID (like an Aadhaar card, PAN card, passport, or driver's licence) and a utility (electricity) bill or bank statement for address proof.
- Vehicle Registration Documents: Proof of your car's ownership and registration, including title or registration papers.
- Previous Insurance Details: Information from your previous policy, such as expiration date and number of claims, if you’re switching insurers.
- Vehicle Inspection Report: Insurers may require an inspection report to check the car's condition and any pre-existing damages.
- Additional Documents: Depending on the requirement, you might need to provide address proof, income proof, and a No Objection Certificate (NOC) if the car was previously registered to someone else.
How To File A Car Insurance Claim Online At SBI General
- Call us on 1800 102 1111 or email customer.care@sbigeneral.in and inform us about your claim with your policy details.
- Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.
- You will be required to submit the relevant documents, including your Driving License, RC Copy, and Policy FIR Copy, as per the Policy terms and conditions.
- An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.
- On cashless facility confirmation, the vehicle can be repaired at a preferred network garage, and payment can be made directly to the garage.
- You will only be required to pay the deductible as mentioned in the policy and the depreciation value, salvage, etc., as the surveyor has informed you.
- Call us on 1800 102 1111 or email customer.care@sbigeneral.in and inform us about your claim with your policy details.
- Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.
- You will be required to submit the relevant documents, including your Driving License, RC Copy, and Policy FIR Copy, as per the Policy terms and conditions.
- An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.
- The insurer can then repair the vehicle, followed by the insurer's payment for the same.
- Submit all bills and payment receipts along with your policy details to us, and we will make the payment within 7 working days of completion of the documentation.
Don’t let common errors cost you time and money when you need it the most!
Know the mistakes drivers can make when claiming car insurance.
How Do You Renew Car Insurance Online?
Driving around with expired motor insurance is of no use and can land you in hot water with legal authorities. If you want to renew your insurance policy, you can do so online at SBI General, by following the process listed below:
- Visit the official SBI General website and select your purchased insurance policy.
- Plug in your car's number and any other fields required.
- Enter your policy’s expiry date and whether or not you have filed a claim under it.
- Choose the renewal policy suited for your plan and pick the cover you want to add.
- Fill in additional details and proceed towards payment.
- Once your identity has been verified, you can pay using your chosen mode.
- Once you have completed the process, your renewal documents will be sent to your registered address.
How To Download Your Car Insurance Policy Copy
First, visit your insurer's official website and navigate to the car insurance section. Then, log in using your policy number, name, and contact details.
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Next, find the option to download your policy document. Click the download button, and you might receive an OTP or a link via your registered email. Follow the instructions to access your policy.
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Finally, check your email for the download link if prompted. Download and print the document for your records. You can also use the insurer’s mobile app to log in and download the policy. You should always contact the official customer support for any issues.
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How To Choose The Best Four-Wheeler Insurance Policy Online
Check Coverage Options
Always look for a policy that offers extensive coverage, including third-party liability, own damage, theft, and natural calamities. A good policy should also cover add-ons like zero depreciation, engine protection, and roadside assistance to provide additional protection.
Check Insurer’s Reputation
Always check to see if the insurer has a good claim settlement ratio and good customer reviews. A high claim settlement ratio indicates reliability and efficiency in processing claims, which is very important in times of need.
Analyse Discounts and Benefits
Many insurers offer discounts for installing anti-theft devices, maintaining a good driving record, or going for a higher deductible. Take advantage of these benefits to reduce your premium.
Conclusion
Just like you compare models while purchasing a car, it’s natural to want to compare plans while buying insurance. The need to be financially cautious and choose a plan that you can afford and that will meet your coverage requirements is understandable. To help you invest well, online platforms enable you to compare a range of insurance plans and make the best choice. You can head to the official website of SBI General and look at all the available car policies. Some insurance terms and documents also provide breakdowns of the kind of coverage each policy offers and the premiums payable each month. With so much information at your fingertips, you can easily compare the plans and pick one that will best suit your financial standing and insurance needs.
FAQs About Car Insurance Policy
Yes, the city of registration & the city in which the vehicle is used are critical factors that affect the premium.
Any modification in the vehicle needs to be duly informed to respective RTO office & you must also get your RC endorsed. The same needs to be informed to the insurer as the premium may be impacted.
Yes, NCB facility can be availed if there is a change of insurer on renewal. The insured has to produce proof of the NCB earned by way of renewal notice from the current insurer.
Any change in the vehicle ownership needs to be informed to Insurer immediately in writing.
Zero depreciation cover, also called 'zero dep' policy, offers complete coverage without factoring in depreciation on spare parts damaged during admissible own damage claim.
For a brand-new car & in case of renewal before expiry date, pre-inspection is not required. But, in case of break-in of the policy, inspection of the vehicle is a precondition for policy issuance.
Private Car Insurance Policy - Package
Stand-Alone Motor Damage Cover For Private Car
IRDAN144RP0001V01201920
Private Car Insurance Policy - Package
IRDAN144RP0005V03201112
Bundled Private Car Insurance Policy
RDAN144RP0006V02201819
DISCLAIMER:
The above information is indicative in nature, for more details on complete coverage and terms and conditions, please contact our nearest office and also read the policy document and sales brochure carefully before concluding a sale.
SBI General Insurance and SBI are separate legal entities and SBI is working as Corporate Agent of the company for sourcing of insurance products.
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