SBI General Commercial Vehicle Package Policy

• Loss/damage cover for the vehicle insured
• Cover for liability to third party
• Personal Accident Cover for Owner cum Driver
• Cover for towing disabled vehicles
• Add-ons to enhance protection
• Cashless claim settlement at network garages across India
• Quick & transparent claim procedure

Own Damage Cover

Loss or damage to the vehicle insured and/or its accessories is covered against perils such as fire explosion, self ignition or lightning, burglary, housebreaking or theft, riot and strike, earthquake, flood, typhoon & hurricane, accidental external means, malicious act, terrorist activity, in transit by road, rail, inland-waterway, lift, elevator or air, landslide or rockslide.

Cover towards Third Party Liability

Insured is covered against third party liability arising out of the use of the vehicle in respect of death or bodily injury to occupants carried in a vehicle other than the insured’s vehicle. It also covers damage to property other than the property belonging to the insured.

Personal Accident Cover for Owner - Driver

In case of bodily injury/death caused to the owner cum driver of the vehicle, the compensation is payable depending on the nature of injury sustained.

For death and Loss of two limbs/sight of two eyes/one limb & sight of one eye is covered up to 100%, Loss of one limb or sight of one eye is covered up to 50% and Permanent total disablement from injuries other than the specified ones is covered up to 100%.

This compensation is payable, when the death/injury caused within six calendar months of accidental external and visible means. A maximum of Rs 2 lakhs is payable towards personal accident cover during any one period of insurance.

Towing Disabled Vehicles

While the insured vehicle is being used for the purpose of towing any mechanically disabled propelled vehicle, the indemnity is payable in respect of liability in connection with such towed vehicle.

Following are the additional cover/add-ons that can be opted upon payment of additional premium.

• Additional Legal Liabilities: Additional legal liabilities towards Paid driver employed for operation of vehicle and Employees travelling in/driving the vehicle other than paid driver is covered.
• Bi-fuel Kit: The CNG-LPG bi-fuel kit can also be covered upon opting the add-on cover.
• Nil Depreciation: It pays the depreciation amount deducted on the value of the parts replaced for an approved claim, in case of loss or damage to the vehicle insured.
• Return to Invoice: In the event of a Total loss/ Constructive Total Loss (CTL) or Total Theft of the vehicle, it pays the ‘shortfall amount’ between the amount received and the current replacement value of the vehicle if the same make model is available.
• NCB Protection: Normally in case of a claim, the ‘No Claim Bonus (NCB)’ of your vehicle insurance policy gets impacted. However under this cover, the existing NCB of the expiring policy can be retained at the time of renewal. This benefit is available only for one single claim during the policy period.
• Cover for Key Replacements: It covers the cost incurred by insured to replace the vehicle keys, in case it is lost/stolen. It covers to an amount, as specified under the policy schedule.
• Loss of Personal Belongings: The loss or damage caused to the personal baggage kept in the insured vehicle is payable. The benefit payable under this benefit is restricted to an amount, as specified under the policy schedule.

Following are the conditions that are not covered under this policy:

• Vehicle is used outside the geographical area
• Vehicle being used otherwise than in accordance with the ‘Limitations as to Use’ specified
• Driving vehicle without a valid driving license
• Any claim arising out of contractual liability
• Mechanical/Electrical breakdown
• Depreciation or any Consequential loss
• Normal wear & tear and ageing of the vehicle
• Loss/damage caused by or arising from nuclear weapons material, etc.