SBI General Bike Insurance Claim

In the financial year 2019-2020, SBI General Insurance had a remarkable claim settlement percentage of 89.51 percent. Over the years, it has effortlessly resolved thousands of policyholder claims, boosting its image as an insurance provider.

How To Make SBI General Bike Insurance Claim?

The claimed method has been simplified by SBI General Insurance, and policyholders may quickly complete it by following these easy steps:

• Contact SBI General Insurance

To begin the claim settlement process, the policyholder must notify the insurer as soon as possible after the occurrence, whether it be a theft, an accident, or any other damage to the bike. SBI General Insurance may be reached via phone at 1800-102- 1111. Within 24 hours in the tragic case of an accident, the call should be made. To notify the insurer, you may also SMS "CLAIM" to 561612.

• Make a Claim

Within 24 hours, a Claim Manager or person from SBI General Insurance will contact you. The following information must be provided to the representative:

• Number of Policy
• The catastrophe occurred on this day and at this hour.
• Loss estimate/description
• The place where the loss assessor can inspect the car
• Name of the driver, contact information, and information on his or her driver's license
• Contact Information for Insured
• A claim reference number is given to you by the Claims Manager or representative for future reference. The claim form may be picked up at the local bank or downloaded from the official website.

• Damages Assessment

A surveyor is hired to determine the extent of the damage to the bike caused by the collision. To the surveyor, provide the properly completed claim form, policy paperwork, and circumstantial evidence.

• Settlement of Claims

The surveyor provides his or her approval after considering all of the factors. The insurer acknowledges its financial and legal obligations and pays all costs associated with the insured's bike's repair at the garage. After subtracting the deductibles and depreciation, the claim amount is computed.

No-Claim Bonus from SBI

For two-wheelers, SBI General Insurance gives a No Claim Bonus with every own damage. This is available as a stand-alone own damage policy or as part of a complete two-wheeler insurance package. The NCB is given to the policyholder as a gift of appreciation for a year with no claims. This award is cumulative in nature, increasing to 50% after the fifth consecutive year. Any claim, no matter how slight, will, nevertheless, deactivate the collected award. As a result, unless the damage caused by a catastrophe is considerable, it is recommended that policyholders avoid submitting a claim. In order to preserve the accrued No Claim Bonus, the policyholder must renew their two-wheeler insurance policy on schedule. If they don't, the NCB will become invalid. 

Take Away

The State Bank of India (SBI) and the Insurance Australia Group have partnered to form the SBI General Insurance Company (IAG). The insurance provider provides a wide range of general insurance solutions at reasonable pricing in order to make insurance available to everyone, including individuals and businesses. In our nation, a two-wheeler is more than simply a method of transportation; it is regarded as a part of the family. Millions of Indians rely on it for a variety of reasons, and they take great care of their motorcycles. SBI General Insurance provides specialized solutions to people searching for two-wheeler insurance, leveraging SBI's vast network and Insurance Australia Group's insurance expertise to give services and products that are among the finest in the country.

Also Read:

5 Bikes/Scooters expected to launch in 2021 in India

Is Two-Wheeler Insurance Compulsory For Electric Scooters? 

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.