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Life is one great balancing act. As you set to get the best out of life, you do encounter life’s little road blocks like accidents & thefts. The best way to handle them is to just move ahead and enjoy the journey. With SBI General’s Private Car Insurance Policy- Package, you can be in control and enjoy the journey no matter whatever little road blocks that life throws at you.
A few details to start with
The Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicle Act, together with loss or damage to vehicle itself. The Policy also provides cover for:
For an additional premium, provides the following:
This policy is designed to cover the compulsory third party liability as required by Motor Vehicle Act, together with loss or damage to vehicle itself.
Third Party Liability: Protect against any legal liability arising out of the use of the vehicle, towards third parties arising due to bodily injury to/ death of a person and any damage caused to third party property.
Loss or Damage to the Vehicle: The policy covers against any loss or damage caused to the vehicle or its accessories due to the following:
|Age of the Vehicle||%age of Depreciation|
|Not exceeding 6 months||5%|
|Exceeding 6 months but not exceeding 1 Year||15%|
|Exceeding 1 Year but not exceeding 2 Years||20%|
|Exceeding 2 Years but not exceeding 3 Years||30%|
|Exceeding 3 Years but not exceeding 4 Years||40%|
|Exceeding 4 Years but not exceeding 5 Years||50%|
For vehicles ageing more than 5 years and of obsolete models of vehicle (i.e. models which the manufacturers have discontinued to manufacture) is to be determined on the basis of an understanding between the insurer and the insured.
If the price of any electrical and/ or electronic items installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.
In case of vehicle fitted with Bi-fuel system such as Petrol/ Diesel and CNG/ LPG, permitted by the concerned RTO, the CNG/ LPG kit fitted to the vehicle is to be insured separately at an additional premium of 4% on the value of such kit. You need to specifically declare this in proposal form.
Additional covers available on payment of additional premium: Enhanced Personal Accident Cover to
Depreciation Reimbursement: In an event of a claim for losses other than Total Loss/ Theft of the vehicle claim shall be paid after providing for Depreciation as per scale mentioned below:
For All Rubber/ Nylon/ Plastic Parts/ tyres & tubes/ batteries & airbags- 50%
All fibre glass components- 30%
All other parts including wooden parts is as per below schedule
|Age of the Vehicle||% of Depreciation|
|Not Exceeding 6 months||NIL|
|Exceeding 6 months but not exceeding 1 Year||5%|
|Exceeding 1 Year but not exceeding 2 Years||10%|
|Exceeding 2 Years but not exceeding 3 Years||15%|
|Exceeding 3 Years but not exceeding 4 Years||25%|
|Exceeding 4 Years but not exceeding 5 Years||35%|
|Exceeding 5 Years but not exceeding 10 Years||40%|
|Exceeding 10 Years||50%|
On payment of additional premium the company will indemnify you without deduction of depreciation as mentioned above on parts replaced in respect of approved partial loss claim.
Protection of NCB: No Claim Bonus (NCB) is a discount earned by you for a claim free completed year as per below schedule.
|All Types of Vehicle||% of discount on Own Damage Premium|
|No Claim made or pending during the preceding full year of insurance||20%|
|No Claim made or pending during the preceding 2 consecutive years of insurance||25%|
|No Claim made or pending during the preceding 3 consecutive years of insurance||35%|
|No Claim made or pending during the preceding 4 consecutive years of Insurance||45%|
|No claim made for pending during the preceding 5 consecutive years of insurance||50%|
In case you lodge a claim in the policy your NCB will go back to 0%. On payment of additional premium company will maintain the No Claim Bonus on renewal subject to following:
Return to Invoice: In case of constructive total loss and/ or theft of the vehicle you will be paid IDV as mentioned in the schedule in a motor policy. IDV is depreciated value derived from selling price of the vehicle. On payment of additional premium, the company will pay the financial shortfall, between IDV and
The company will also reimburse the first time registration charges and road tax which the insured had incurred on the insured vehicle. This cover is available for vehicle ageing up to 2 years old.
Cover for Key Replacement: On payment of additional premium company will reimburse the cost of replacing vehicle keys which are lost or stolen or the vehicle lock is broken at the time of burglary or attempted burglary.
Loss of Personal Belongings: On payment of additional premium company will make an allowance to the insured for loss of personal belongings of insured caused by perils as per policy wording.
Engine Guard: On payment of additional premium this section covers loss or damages to internal child parts of the engine and/ or gear box due to:
Cover for Consumables: On payment of additional premium this section covers expenses incurred by you towards consumable items due to damage to vehicle arising out of perils covered under the policy. Consumables include nut and bolt, screw, washers, grease, lubricants clips, Gear box oil, AC gas, bearings, distilled water, engine oil, oil filter, fuel filter and break oil.
Inconvenience Allowance: On payment of additional premium we will pay cash allowance of Rs 1000, 2000, or 3000 per day as opted for maximum of 10 days in the event of an accident of the vehicle & time require for repair is more than 3 days. This cover is applicable on 1st two claims lodged during the policy period. Such approved repairs to be carried out at Company’s authorized garage.
Hospital Cash Cover: On payment of additional premium you can avail daily hospital cash cover for:
|Owner Driver||Rs 1000- Rs 5000 per day|
|Paid Driver||Rs 1000- Rs 2000 per day|
|Unnamed Passengers||Rs 1000- Rs 5000 per day|
Road Side Assistance: If anything happens to your vehicle, remain assured that we will be just a call away. With road side assistance cover, you can avail assistance anytime & anywhere. With road side assistance service you can avail following benefits:
No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will be allowed provided the policy is renewed within 90 days of the expiry of date of previous policy). Transfer of NCB: You can transfer full value of NCB when you shift your motor insurance policy from another company.
Other Discounts: Voluntary deductible discount: A further discount on the premium is available if you opt for a voluntary deductible in addition to the compulsory deductible. (All Policies carry Compulsory deductible amount which is deducted from the claim amount payable)
We would like you to be familiar with some of the major exclusion under the policy. This will ensure you are not put to any kind of inconvenience while making your claim. At SBI General, we endeavour to make our policy as transparent as possible.
Any loss or damage to the vehicle and/ or its accessories will not be covered if caused by the following:
The Company shall not be liable under this policy for -
Disclaimer: The above information is indicative in nature, for more details on complete coverage and terms & conditions, please read the policy document carefully before concluding a sale.