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SBI Car Insurance
SBI Car Insurance




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SBI Car Insurance Terms And Conditions

1 Terms and Conditions
1.1 Inclusions
1.1.1 Natural Calamities
Cyclone, Earthquake, Explosion, Fire, Flood, Frost, Hailstorm, Hurricane, Inundation, Landslide, Lightning, Rockslide, Self-ignition, Storm, Tempest, Typhoon
1.1.2 Manmade Calamities
Accident by external means, Burglary, Malicious acts, Riots, strikes, Terrorism, Theft, Transit by road, rail, inland waterways, air or lift
1.2 Depreciations
1.2.1 Rubber, Nylon, Plastic Parts etc.
Royal Sundaram ..
50 %
Rank: 1 (Overall)
Royal Sundaram Car Insurance Terms and Conditions
1.2.2 Fibre Glass
Royal Sundaram ..
30 %
Rank: 1 (Overall)
Royal Sundaram Car Insurance Terms and Conditions
1.2.3 Parts Made of Glass
Royal Sundaram ..
0 %
Rank: N/A (Overall)
Royal Sundaram Car Insurance Terms and Conditions
1.3 Other Terms and Conditions
1.3.1 Deduction for the Salvage Amount
22% Package Policy Car Insurance Plans have it !
1.3.2 Cost of Surveyor Inspection
4% Package Policy Car Insurance Plans have it !

Depreciation In SBI Car Insurance

If any of the parts of a car needs to be repaired or replaced, the car insurance company does not pay for the full cost of the part. It takes into account only the depreciated value of the part. It is required only for a Package Policy. Depreciation on the value of a part depends on its material and this value for various materials is fixed by the company. For below mentioned materials, the value of depreciation in SBI Car Insurance is as follows-

  • Rubber, Nylon, Plastic parts, Tyres, Battery and Air bags: 50 %
  • Fibre glass: 30 %
  • Parts made of glass: 0 %

Inclusions In SBI Car Insurance

SBI Car Insurance Terms and Conditions includes the list of inclusions. Inclusions are the situations under which a particular policy provides cover for the insured car. Inclusions in SBI Car Insurance are of two types- Natural calamities and Man-made calamities. You can Claim SBI Car Insurance in any of these situations.

Natural and Man made calamities included in the plan

The natural and man made calamities included in the plan are-

  • Natural calamities- cyclone, earthquake, explosion, fire, flood, frost, hailstorm, hurricane, inundation, landslide, lightning, rockslide, self-ignition, storm, tempest and typhoon

  • Man-Made calamities- accident by external means, burglary, malicious acts, riots, strikes, terrorism, theft and transit by road, rail, inland waterways, air or lift

Other Terms And Conditions

Other terms and conditions in SBI Car Insurance include exclusions, deduction for salvage amount, cost of surveyor inspection if there is a gap/ break in policy. Exclusions are the situations under which the insurance company is not entitled to pay any compensation to the insured. Along with What is covered in SBI Car Insurance, you should also know the conditions under which these covers are valid and under which they are not valid. Exclusions for each policy may be different. They are mentioned in the policy wordings of the respective policy. Salvage amount is the value of damaged parts of car that need to be replaced by the new ones. Some car insurance companies deduct the salvage amount from the net payable amount under a claim.

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