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Q1. What is Motor Insurance?
Motor Insurance is an insurance policy designed to cover accidental damage to vehicle & to cover legal liability towards third party. It is for all motorized vehicles plying on public roads.
Q2. What does Motor Insurance Cover?
It covers accidental damage to your vehicle and insure against any third party liability.
Q3. Is Motor Insurance Compulsory?
Yes, all the vehicles plying on public roads are to be covered against mandatory third party liability.
Q4. Can insurance policy of other insurer be renewed with SBIG?
Yes, the insurance policy of other insurer can be renewed with SBIG.
Q5. What is No Claim Bonus?
Discount given on renewal of insurance in case there is no claim lodged on the policy during one full year.
Q6. What is the maximum No Claim Bonus allowed?
Discount rate shall be as per following slab:
|Preceding Consecutive Claim Free Years||Discount on Own Damage Premium|
|5 or more years||50%|
Q7. Can I renew my policy with SBIG if my policy is already expired?
Yes, it can be renewed post satisfactory inspection of the vehicle.
Q8. I have sold my car? What should I do with insurance?
You can either transfer the insurance policy to the new owner or can cancel the policy.
Q9. I have lost the insurance Policy. Can I get a duplicate one?
Yes please approach the nearest branch with a written request. A nominal fee is charged for issuing duplicate policy copy.
Q10. Can I cover CNG/ LPG kit in the policy? if Yes, How?
CNG/ LPG kit can be covered in insurance policy on payment of additional premium. The kit so installed should be added to the RC of the vehicle.
Q11. Can I cancel my policy midway?
Yes, policy can be cancelled and unused premium can be refunded on short period basis provided alternate insurance proof is provided and there is no claim in the policy. In case of claim in the policy no refund shall be there.
Q12. My vehicle is financed by SBI Bank. Shall the same be mentioned in my policy?
Yes, it shall be incorporated in the policy document under heading financer details.
Q13. What needs to be done in case of an accident?
Intimate us via toll free number 1800 22 1111 or SMS Claim to 561612
Q14. What are the documents and formalities required for processing of the claim by the company?
The general checklist is as follows: