motor- pvt car, sbi general insurance co ltd

SBIG Sales Training TeamSBIG Sales Training Team

Motor- Pvt car,

SBI General Insurance Co Ltd

SBIG SALES TRAINING TEAM


Why do you need Pvt Car Insurance ?


Risk of own damage

Why do you need Pvt Car Insurance ?


Risk of theft and damage after stealing!!

vehicles DAILY !

In 2016, about 2.1

lakh vehicles were

stolen across the country


Damage to another person or property

SBIG Sales Training TeamSBIG Sales Training TeamPenalty for Driving without insurance

SBIG Sales Training Team

• Risk of own damage

• Damage to another person or property

• Penalty for Driving without insurance

• Risk of theft and damage after stealing


Understanding Private Car Insurance


Some basic concepts of Motor Insurance

Insured Declared

Value (IDV)

Compulsory Excess

DepreciationsNo Claim

Bonus


1. Depreciation Reimbursement 2. NCB Protection 3. Return to Invoice 4. Key Replacement 5. Inconvenience Allowance 6. Loss of Personal Belongings 7. Enhanced Personal Accident Cover for - Owner Driver /Unnamed

Passengers /Paid Driver 8. Basic Roadside Assistance 9. Additional Roadside Assistance 10. Hospital Daily Cash Cover for - Owner Driver /Unnamed Passengers /Paid

Driver 11. Engine Guard12. Cover for Consumables13. EMI Protector14. Tyre and Rim guard15. Bifuel – Kit16. Additional Legal Liabilities

ADD ON COVERS AVAILABLE


Private Car- Add On Covers

Depreciation Reimbursement

NCB Protection


Return to Invoice




Key Replacement

Inconvenience Allowance



Loss of Personal Belongings

Enhanced PA cover to Owner Driver, Unnamed Passengers and Paid Driver



Cover Basic RSA Additional RSA

• Towing Assistance √ √

• Flat Tyre √ √

• Dead Battery √ √

• Keys Locked in √ √

• Contamination or running out of fuel √ √

• Continuation of Journey by way of providing hired car/ taxi √

• Local Travel when on tour for maximum of 3 days on 8 hours/ 80 km basis √

• Overnight Accommodation expenses when on tour for maximum 3 days √

• Repatriation of vehicle √

• Medical Co-ordination √

• Urgent Message Relay √

Roadside Assistance



Engine Guard*

Consumable Expenses*



EMI Protector*For details click here

Tyre and Rim Guard

*For details click here



Bifuel Kit

The CNG – LPG bifuel kit can also be covered by paying additional premium.


Some more information:


Why SBI General Private Vehicle Insurance ?


*For details on Exclusions please refer the policy wordings.


Cancellation of Policy

• By the Company

• 7 days’ notice (Only OD portion of the cover is cancelled, OD Premium refunded on Pro rata basis )

• Cancellation by Insured (subject to NO CLAIM)

• 7 days’ notice – Premium refunded on Short Period Scale

• KYC required only for Premium more than 50,000/-

In case of Death of Sole Insured

• Policy will not lapse for 3 months or till expiry of policy whichever is earlier

• Legal heir may apply for transfer in his/her name

• Requirements:

• Death Certificate

• Proof of title to the vehicle

• Original Policy

Important Conditions


Transfers:

Insurance policy can be transferred from one person to another in terms of Section 157 of motor vehicle act and the same policy can be utilized by the transferee on having the policy transferred in his name within 14 days.

Double Insurance:

• If there is more than one policy on the same vehicle , one of the policies , preferably the one incepted earlier, have to be cancelled as soon as it comes to the knowledge of the vehicle owner.

• If any claim arises while more than one policy remains in force , the principle of contribution applies.

Important Conditions

SBIG Sales Training TeamSBIG Sales Training TeamSBIG SALES TRAINING DEPARTMENT

CLAIMS PROCESS - MOTOR


• When the claim is intimated, call centre asks for details like Policy Number, Vehicle Number, Insured Name. Through phone number identification cannot be done in case policy number is not available.

• SMS can be sent through any number. Once the SMS is sent, the Customer Service Executive will call the person from which the SMS was sent and get the details.

• The insured has to take the vehicle to the workshop. If the vehicle is not drivable, it is to be towed to the workshop for which the Insurance company reimburses the charges as stipulated in the Policy.

• There is no preferred workshop of the company.

• If the repairs are done at roadside workshops, there will be no cashless facility. Insured will pay and claim reimbursement on submission of the bills.

• For National Tie Ups, Cashless facility is available unless the NTU does not provide.


Details asked by Call Centre

• While intimating the claim, the Customer Service Executive will ask for the details pertaining to the accident like:

• Date and time of loss / Accident.• Place of accident.• Name of the driver who was driving the vehicle at the material time of accident.• Driving License number of the driver.• Injuries to the occupants / Third party.• Whereabouts of the vehicle.• Which workshop the vehicle would be repaired.• Address of the workshop / Contact details of the workshop person.• Estimated amount of Loss.• Description / Cause of loss.• Nature of damage to the vehicle.

• They will also inform the caller about the mandatory documents to be produced along with the vehicle at the workshop.


Claim Rejection

• In case the Insured fails to submit the requisite documents, three letters are sent to the Insured along with the intimation to concerned sales.

• Despite the letters, if the Insured does not produce the documents, the claim is rejected and closed in the system.

SBIG SALES TRAINING DEPARTMENT


Claim Ownership

• SBIG has a concept of Claim Ownership wherein the Claim Handler is responsible for a claim from its Intimation to Settlement.

• An Inhouse Assessor (IHA) is a Claim Handler when he has surveyed the vehicle. He is also the Claim Handler in case where the vehicle is surveyed by an External Surveyor.

• There is a Claim Handler who becomes a SPOC for that claim.

• Claim Handler calls the Insured once the claim is allotted so that the Insured is aware of the point of contact in SBIG for his claim related queries.



Mandatory Documents for Claim

1. Registration Certificate.

2. Driving License of the person driving the vehicle at the material time of accident.

3. Insurance Policy copy.

4. Duly filled and signed claim form.

5. Permit, Fitness (In case of Commercial Vehicle)

6. Load Challan, Lorry Receipt. (In case of Commercial Goods Carrying vehicle).

7. FIR (In case there is a Bodily Injury, Third Party Partial Damage.)



• The sum insured is the Insured’s Declared Value (IDV) for the vehicle.

• IDV= Ex showroom Price - % depreciation.

• Manufacturer’s listed Selling Price/Ex showroom Price = Cost Price + Local Duties / Taxes, excluding

Registration and Insurance. (Invoice Price).

Age of vehicle % DepreciationNot exceeding 6 months 5%

> 6 months & up to 1 year 15%> 1 year & up to 2 years 20%> 2 years & up to 3 years 30%> 3 years & up to 4 years 40%> 4 years & up to 5 years 50%

Above 5 years Market value

IDV Depreciation % Chart

Insured Declared Value


Exshowroom price: 800000

Registration Date Jan 2016

Depreciation % is 20%

IDV is 6,40,000

Insured Declared Value Calculation

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Depreciation % for all other parts including wooden parts

Age of Vehicle % of Depreciation

Not Exceeding 6 months NIL

Exceeding 6months up to 1 year 5%

Exceeding 1 year up to 2 years 10%

Exceeding 2 years up to 3 years 15%




Exceeding 10 years 50%

Own Damage Depreciation % Chart:▪ All Rubber/Nylon/Plastic parts, Tyres & Tubes,Batteries/Airbags ................................................ 50 %▪ All Fibre glass components ............................... 30 %▪ All Parts made of Glass ....................................... NIL▪Composite parts…………....................................... 10%


Compulsory Excess • 2 Wheeler – Rs 100

• Private Cars▪ Up to 1500 CC – Rs 1000▪ Above 1500 CC – Rs 2000

• Taxi/3Wheelers▪ Up to 1500 CC – Rs 500▪ Above 1500 CC – Rs 1000

• All Other CV – Rs 500 to 2000

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• In case of No Claim made in the previous year policy, the insured is entitled to get discount on Own Damage premium.

• Validity of NCB is 90 days after expiry date of the earlier policy.

• NCB gets transferred with the Owner.

• Validity of NCB Reservation certificate is 3 years.

• NCB Chart:

No Claim Bonus (NCB)

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© 2019 SBI General Insurance Company Limited. | All Copy Rights ReservedSBI General Insurance Company Limited, Corporate & Registered Office: “Natraj” 301, Junction of Western Express Highway &

Andheri Kurla – Road, Andheri (East), Mumbai – 400 069. IRDAI Reg. No. 144 dated 15/12/2009 | CIN: U66000MH2009PLC190546SBI Logo displayed belongs to State Bank of India and used by SBI General Insurance Company Limited under license
