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How to Pay Bajaj Allianz General Insurance Premium Online

Risks are an inseparable part of our lives. Be it health, transport, travel, or housing; risks are almost inevitable. Fortunately, India has a lot of insurance companies that are currently providing several lucrative insurance policies. Bajaj Allianz General Insurance is a joint venture of Bajaj Finserv Limited and Allianz SE and is one of India’s major contenders in the private insurance sector.

In 2001, the two companies decided to enter the Indian insurance market. With a total share of 74% held by Bajaj Finserv Limited and the other 26% by Allianz SE, the venture currently offers a plethora of policies at prices that are not harsh on your budget and ensures a safe and secure life.

Being a respectable and experienced name in their respective countries, i.e., India and Germany, Bajaj and Allianz has the trust of millions, which acts as a chassis to the machinery.

The company operates to provide maximum customer satisfaction as well as effective insurance solutions, which they believe, will help them in establishing their name as a major giant in the insurance sector.

Bajaj Allianz General Insurance Plans

Bajaj Allianz General Insurance Company is known for its variety of general insurance plans, which offer promising financial protection to the policyholder and his/her family from unwanted situations that no one wants to get into.

The company has been offering insurance services at attractive prices and also offers discounts to attract more customers. Be it an individual or a giant business; Bajaj Allianz has got a plan for everyone.

Motor Insurance (Car and Two Wheelers)

As they say, roads and accidents go hand in hand. It is very difficult, nowadays due to an increase in the number of vehicles, to imagine driving without any incident. Even if the driver is vigilant enough to take care of his/her and others’ safety, someone else’s mistake, sometimes, costs both the parties a price that is almost impossible to pay.

In the year 1988, when the Motor Vehicles Act was passed, it was made mandatory for any vehicle, running on Indian roads, to have third-party liability coverage. Bajaj Allianz provides motor (car and two-wheeler) insurance policies providing effective coverage against any loss or damage to the vehicle.

The company also helps the policyholder settle down any legal affair that may arise due to the vehicle’s involvement. Motor Insurance also protects a policyholder against damages caused by fire, explosions, accidents, theft, riots, or natural & man-made calamities.

Health Insurance

Today’s modern lifestyle has made us completely dependent on technology. This dependence, although eases our lifestyle but also adds to our health some illnesses and other issues. No two days are the same in anyone’s life, one day it can be a beach with a splendid sunset while the other day maybe a visit to a hospital.

We can never be too sure about our health. We work hard to live a life full of luxuries and modern facilities. But any unexpected medical emergency not only amounts to mental stress but also results in a burnt hole in the pocket.

Some of the features of the Bajaj Allianz Health Insurance:

  • 24x7 call assistance for claim settlements
  • 1-hour approval for cashless claims
  • A network of 4000+ hospitals and 1200+ diagnostic centers
  • Coverage of pre and post-hospitalization expenses for 30 and 60 days, respectively.
  • A critical illness plan covering a wide number of critical medical problems.

To help to protect their policyholders from any impending medical emergency, Bajaj Allianz’s Health Insurance helps in covering the expenses of treatments that you may need for yourself and your family.

Travel Insurance

There is often a hidden wanderlust in people. From a vacation trip to business meetings, traveling is almost unavoidable, and for that purpose, having effective and comprehensive travel insurance is of utmost importance.

The Bajaj Allianz Travel Insurance provides:

  • Medical Cover, up to USD 50 thousand.
  • Personal Accident Cover, up to USD 10 thousand.
  • Loss of Passport Cover, up to USD 250.
  • Personal Liability, up to USD 1 lakh.
  • Hijack Cover, up to USD 50 per day and a maximum of USD 300.
  • Accidental Death Cover, up to USD 2500.
  • Worldwide protection, along with 24x7 emergency assistance.

Therefore, travel insurance offers coverage against a wide number of unknown risks that one may face while traveling, from something as common as the loss of passport to something very rare, i.e., hijacking.

Home Insurance

Every person dreams of having a home, their very own temple of contentment. While a house is just brick and concrete, a home is made up of love and togetherness that one share with his/her family.

But, what if something happens to this temple? From a burglar attack to a natural disaster, there are a lot of scenarios that can leave your sanctuary of peace in a wreck.

However unacceptable that may sound or seem, but these situations are nearly unavoidable, and for obvious reasons, it becomes really necessary for the inhabitants to have a home insurance policy.

Fortunately, Bajaj Allianz General Insurance offers My Home Insurance plan that offers loss settlement under four basis:

  • New for Old Basis
  • Agreed Value Basis
  • Reinstatement Value Basis
  • Indemnity Basis

Bajaj Allianz Home Insurance offers coverage for buildings, apartments, flats, content, jewelry, and other valuables like paintings.

Personal Accident

No matter where we go, uncertainty follows like a shadow. There is no way to be certain regarding any outcome of our actions, and accidents are not different. Accidents are the most unpleasant experiences of anyone’s life.

Accidents happen irrespective of caste, creed, gender, or age, leaving the life of the person involved topsy-turvy, along with his/her family. These unfavorable events end up giving a lot of pain and sorrow to the person and his/her family.

As Murphy’s Law is inevitable and applies to everyone equally, it is better to be safe than sorry. Hence, it is always wise to think ahead and safeguard ourselves with a plan that has the potential of a life-saver - The Personal Accident Insurance Policy.

Bajaj Allianz’s accident insurance coverage provides coverage against injuries, permanent and temporary disabilities, and uneventful loss of life caused due to an accident. The company offers the plan in three forms:

  • Basic
  • Wider
  • Comprehensive

The benefits offered by the plan include medical expenses, hospital confinement, and additionally, a Children’s Education Bonus ensuring a bright and smooth future of the deceased’s policyholder.

Methods of Paying Premium

As the digital age has dawned upon us, no sector has been left untouched by it, including the insurance sector. The government of India's Digital India initiative has made a great impact on the insurance arena.

Bajaj Allianz, apart from offering lucrative and suitable plans, also offers flexible payment methods that suit every customer. Various payment methods offered by Bajaj Allianz General Insurance can be summarised in the following hierarchy chart.

Any prospective customer of Bajaj Allianz General Insurance can either visit any Bajaj Allianz branch or the website and can purchase a plan of his/her requirements. The website offers instant quotations on various insurance plans such as motor, travel, health, etc.

After having selected the plan of his/her choice, the customer is then prompted to submit the required details which vary as per the plan. Once the details have been submitted, the customer is then directed to a payment page for completing the payment of insurance premiums.

Let’s take an example to make this process clearer:

  • Suppose Mr. X wants car insurance for his brand new car. He visits the Bajaj Allianz General Insurance’s official website and selects Car Insurance.
  • After selecting the desired plan, he is then prompted to enter various vehicle details such as, and not restricted to:
    • Registration Number
    • Purchase Date
    • Owner’s Name
    • Date of Purchase
    • Date of Registration
    • Insured’s Declared Value (IDV)
    • Previous Insurance Policy details, if any
  • Having filled all the details asked for, he is then taken to a payment gateway which offers a variety of payment methods as summarised above.
  • Once Mr.X selects his desired payment method and completes the payment, he receives a digitally signed copy of policy documents.

And this way Mr.X can purchase an insurance plan for his car, from the comforts of his home and that too in a few minutes.

The premium payment process explained above is almost the same for all the offerings except for some variations that may be due to various plans.

Renewal of Policy

Having an insurance cover for eventualities is a smart and responsible thing to do. But equally important is to keep track of the policy’s expiration date. Once a policy is nearing its expiry date, the customer is free to either renew his/her policy with the policy provider or purchase a new policy from a different provider.

The process of renewal of policy is very similar to purchasing an insurance policy. After visiting the official website of Bajaj Allianz General Insurance, the policy-holder has to select the option of ‘Renew Online.’ The customer is directed to a new page where he/she is asked to select the policy and submit the policy details like:

  • Name of the Policy-holder
  • Mobile Number
  • E-mail Address
  • Policy Number
  • Policy Expiration Date

After submitting the required details, the policy-holder is shown a quote based on the submitted details.

If the policy renewal quotation is acceptable to the policyholder, he/she can make the payment, and his/her policy gets renewed.

The Final Words:

Bajaj Allianz has evolved as a great deal since its inception in 2001. The company has come a long way in providing unparalleled customer service and cost-effective insurance plans. Over the years, Bajaj Allianz has increased its operations to reach a larger number of people.

For its effective claim settlement capability, Bajaj Allianz has also received the iAAA rating from ICRA. Being the first insurance company to initiate Cashless Claim Settlement Policy, the company is constantly working and expanding its domain.

The company is also known for various advanced services such as in-house health management, image-based policy, a digital office, and usage-based car insurance. In the end, it indeed suffices to say that Bajaj Allianz has made a great impact on the way India looked at the insurance sector.