India's 33 crore+ vehicles create massive insurance demand, but which insurer delivers real value? SBI General Insurance combines public sector trust with modern efficiency—offering instant cashless claims, nationwide garage access, competitive EV policies, and 2026's innovations: telematics-based pricing, AI claim assessments, and pay-per-kilometer plans. Here's your complete guide.

Company Overview

Established in 2009, SBI General Insurance Company Limited operates from Mumbai as a public-private joint venture with State Bank of India as majority stakeholder. IRDAI registration number 143, granted June 12, 2009. FY 2024-25 motor insurance market share stands at 4.2% with approximately 8.9 million motor policyholders. Motor segment Gross Written Premium reached ?9,845 crores, showing 14.3% YoY growth. The network includes 9,500+ garages across India. Geographic presence spans 450+ branches in 320 cities. Digital motor sales constitute 48% of total policies.

Product Categories

Coverage options include:

• Third-Party Liability: Mandatory legal coverage only
• Comprehensive Plans: Own damage + third-party coverage
• Standalone Own Damage: For vehicles with valid TP
• Two-Wheeler Insurance: Bikes, scooters up to 150cc, 150cc+
• Four-Wheeler Insurance: Cars, hatchbacks, sedans, SUVs
• Commercial Vehicle Insurance: Goods carriers, passenger vehicles, taxis
• Electric Vehicle Insurance: Battery coverage, charging station damage
• Add-On Covers: Zero depreciation, engine protection, NCB protection, roadside assistance

Features include IDV-based coverage, personal accident cover ?15 lakh for owner-driver, depreciation as per IRDAI schedule, cashless repairs at network garages, NCB up to 50% for claim-free years, voluntary deductible options, plus 2026 additions—pay-as-you-drive plans, telematics-based discounts, instant digital policy issuance, automated claim settlement.

Claim Settlement Ratio

SBI General Insurance posted 89.78% motor CSR for FY 2024-25, aligned with the industry average of 88-92%. The three-year trend shows FY 2022-23 at 88.45%, FY 2023-24 at 89.12%, and FY 2024-25 at 89.78%—demonstrating steady upward improvement. Motor Incurred Claim Ratio stands at 90.4%. Interpretation: out of 100 motor claims submitted, approximately 90 get settled, matching industry standards reliably.

Network Garages

Network strength includes:

• Total network: 9,500+ garages nationwide
• Delhi-NCR: 530+ garages
• Mumbai: 485+ garages
• Bangalore: 425+ garages
• Chennai: 395+ garages
• Hyderabad: 380+ garages
• Pune: 340+ garages
• Kolkata: 410+ garages
• Ahmedabad: 315+ garages

Authorized service centers include Maruti, Hyundai, Tata Motors, Honda, Toyota dealerships. Tier 2/3 cities like Jaipur, Surat, Lucknow well-covered. Cashless approval: spot surveys 2-4 hours, major repairs 24-48 hours. Reimbursement 9-14 days. Complaint ratio: 3.4 per 10,000 policies.

Tax Benefits & IDV Calculation

Key information:

• Tax deduction: No Section 80D benefits for motor insurance
• GST applicability: 18% GST on motor premiums
• IDV calculation: Current market value minus depreciation
• Depreciation rates: 5% (6 months), 10% (1 year), 15% (2 years), 20% (3 years), 25% (4 years), 30% (5+ years)
• NCB benefits: 20% (1 year), 25% (2 years), 35% (3 years), 45% (4 years), 50% (5+ years)

Example: A 2-year-old SUV valued ?12 lakh has IDV ?10.2 lakh after 15% depreciation. With 25% NCB from 2 claim-free years, premium drops from ?24,000 to ?18,000 annually.

Portability & Claim Rejection Prevention

Portability: Switch insurers while keeping NCB benefits. Apply before policy expiry, submit current policy copy and NCB certificate, new insurer validates NCB, underwriting for vehicle inspection if needed, seamless renewal. Benefit: NCB discount transfers fully, preserving years of claim-free rewards without penalty.

Claim Rejection Prevention:

• DL validity: Ensure valid driving license always
• Unauthorized driver: Only permit licensed drivers
• Vehicle fitness: Maintain PUC, valid registration
• Delay notification: Report accidents within 24-48 hours
• Network garages: Use authorized garages for cashless
• Documentation: Keep FIR, photos, repair estimates ready

Exclusions, Support & Recommendation

Policy Exclusions:

• Driving conditions: Under influence of alcohol/drugs
• Invalid license: Expired or no DL
• Geographical limits: Outside India coverage
• General wear: Mechanical/electrical breakdown
• Consequential loss: Depreciation claims
• Intentional damage: Self-inflicted damage
• War/nuclear: Force majeure events

Permanent Exclusions: Normal wear and tear, gradual deterioration, consequential losses, mechanical failures without add-on, using vehicle for different purpose than registered, racing or speed tests, existing damages before policy start.

Customer Support: 24/7 helpline available, mobile app features e-card, garage locator, claim tracking, email and WhatsApp support, 450+ physical branches. Grievance redressal through IRDAI IGMS portal and Insurance Ombudsman.

Why Choose: Industry-standard motor CSR, extensive garage network, SBI banking group trust, strong branch presence, competitive pricing. Limitations: digital adoption slower than pure-play private insurers, processing times moderate. Compare free at NiveshKaro.com—IRDAI advisors, zero commission, instant quotes!

Disclaimer: NiveshKaro.com offers free guidance via IRDAI advisors—zero commission. Data accurate as of January 2026, subject to change. Verify terms with SBI General Insurance. Visit niveshkaro.com today.