SBI Motor Private Car Insurance

Under this plan, the Company will pay the monetary deficit:

(if any), between the amount insured receives under Section I of the plan and the purchase price of the vehicle as confirmed in the Invoice of Sale or current replacement price of the new vehicle, whichever is less, in case the insured vehicle is a Total Loss /CTL following an accident or being stolen during the tenure of insurance and not recovered thereafter. The First time Registration

Charge as well as the Road tax which the insured has incurred on the insured vehicle will also be reimbursed by the Company. However, the insured vehicle should not be more than 2 years of old from the date of invoice or the date of registration whichever is earlier on the commencement of the plan.

Under this plan, the company will reimburse the cost of replacing the keys provided:

• In case of lost or stolen keys, all other duplicate keys are to be deposited with the Company.
• The entire sets of old keys are to be deposited with the company in case the vehicle is broken at the time of burglary or attempted burglary.
• An FIR copy to be submitted with the Company confirming the date and the time of the incident.
• The replacement process will be done at any of the Garages authorized by the Company.
• All items replaced under this plan will be same type with respect to quality, standard or quantity with the one which were lost, stolen or replaced.

Under this plan, the Company will reimburse the loss of personal belongings provided:

• It covers the personal belongings of the insured individual only.
• An FIR copy to be submitted with the Company confirming the date and the time of the incident along with the list of articles lost.
• The plan defines the Personal Belonging as items such as clothes and other articles of personal nature which includes jewelleries, mobile, laptop, audio/video tapes, CDs. However, it excludes money, securities, cheques, bank drafts, debit and credit cards, travel tickets, paintings, curios and items of similar nature.
• Any claim under this plan is subject to a precondition that there is a valid own damage or key replacement claim with respect of the insured vehicle which is already submitted and processed by the company under the plan.
• The maximum amount payable under the plan is RS 50000/- during the plan tenure. However each claim is subject to a
• deducible to Rs 5000/- for Laptop and Jewelleries and RS 2500/- for Mobiles and RS 500/- for the rest.

Under this plan, the company will pay the Insured a daily cash benefit as mentioned in the schedule provided:

Daily cash benefits took only for the time taken for the repair of the damages caused due to the accident subject to a maximum period of 10 days.
The repairs should be carried out in Garages authorized by the Company only.

The deductible mentioned in the schedule will be reduced from the eligible days of benefit for each and every claim under the plan.
The plan is applicable only for the first two own damage claims during the plan tenure.

No Claim Bonus ( NCB) : If n claim is made during the plan tenure, then a No Claim Bonus is offered on renewals subject to a maximum of 50% and  the policy is renewed within 90 days of the expiry date of the previous policy. Another advantage is one can transfer the No Claim Bonus and its full benefits when one shifts from one Car Insurance Plan to the other Car Insurance Plan of any other company.

Voluntary Excess Discount: An attractive and a further discount on the premium is applicable if one opt for a Voluntary Excess in addition to the Compulsory Excess.

The Motor Insurance Plan provides a compulsory Personal Accident Plan of Rs 2 lakhs for individual owners which are available if the owner holds a valid driving license while driving. However, this is not applicable for company owned vehicle. The occupants in the vehicle at the time of the accident are also covered under the plan to a maximum Sum Insured of Rs 2 lakhs per person.

This policy provides for legal liability coverage for the third party as well which is mandated by the law.

Damage to vehicle due to natural calamities like storm, flood, etc. or any burglary, theft or act of terrorism

This plan also covers the additional legal liabilities towards paid driver employed during the accident of the vehicle and also the employees travelling or driving the vehicle

It ensures that one gets the full amount that he claims without any deduction of the depreciation value on parts of the car.

The Company will sustain the No Claim Bonus on payment of the additional premium provided :

• The vehicle is renewed with the company.
• Only one single claim was made during the policy tenure.
• The insured vehicle is repaired in a Garage which is authorized by the Company.
• The rate of No Claim Bonus at the time of renewal will be at par with the time prior to the loss he has incurred.