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Bajaj Allianz General Insurance
- Bajaj Allianz Car Insurance
Bajaj Allianz Car Insurance
Bajaj Allianz GI Company Limited is a joint undertaking between Allianz SE & Bajaj Finserv Ltd. The company has been a leader in the motor insurance market with world-class products, efficient service, and after-sales support. The company has been offering various types of insurance plans both in the Life Insurance category and General Insurance category.
Car insurance policy, as compulsory under the law, is offered with extra additions at the discretion of the customer who can make additions to increase the scope of coverage.
Why is a Car Insurance Policy Must?
Though the legal requirements bind you to buy a car insurance plan and also keep on renewing it every year on to be eligible to legally drive your car. You should also consider the importance of having such a policy besides its legal implications.
Accidents are uncertain and might happen with anyone. Any single case of an accident can cause huge financial loss to you, your vehicle and also any third party. This loss has the potential to wipe out your savings.
Having an insurance policy which would compensate the financial losses would help in safeguarding your savings and also paying off any aggrieved third party of the damages they incur. Bajaj Allianz car insurance can be one of the best options as you can avail cashless repair services in the network garages. There are multiple add-on benefits that you can opt to enhance your car insurance coverage.
Bajaj Allianz Car Insurance Plan Overview
|
Features |
Coverage and Benefits |
|
Third Party Coverage: |
Up to 7.5 L |
|
Incurred claim ratio: |
78.50% |
|
Personal Accident Insurance: |
Yes |
|
Network Workshops: |
4000+ |
Advantages of Buying Bajaj Allianz Car Insurance
The company is called the leader in the insurance industry because it gives its customers a little extra benefit. Below are the advantages of buying a car insurance policy from Bajaj Allianz:
- Fast claim-settlement services
- A comprehensive Bajaj Allianz car insurance covers both third-party legal liability and own damages. Moreover, a range of add-on coverage benefits are also available under the Bajaj Allianz Car insurance plan. Some of them are available with no extra-cost involved and for some, you need to pay an extra premium.
- Cashless claim settlement can be done across 4000 preferred workshops. If the cashless claim settlement facility is not available then the company pays 75% of the expense.
- This policy can be purchased online by visiting the company’s website. Simply choose the motor insurance tab, click on buy online or renew online option, fill in the basic details, compare and then make the purchase.
- The company provides 24*7 telephone support and assistance to its customers (available even on holidays)
- Transfer up to 50 percent of the current No Claim Discount (NCB) from any other insurer
- Bajaj Allianz Car Insurance claim status is updated through SMS alerts
Features and Benefits of Bajaj Allianz Car Insurance Plans
The features and benefits of Bajaj Allianz car insurance plans are listed below:
- Private cars, as well as commercial vehicles, can be insured
- Towing facility is provided if there is a breakdown or an accident
- Round-the-clock spot assistance is offered for breakdowns or accidents
- New customers or existing ones can avail lock and key replacement cover
- Other add-on covers include Accident Shield, Conveyance Benefit and Consumable expenses and these can be added for increased protection
Private Car Insurance Plans by Bajaj Allianz:
The plan offered by the Bajaj Allianz car Insurance Company covers the following:
- Any damage that happens to the car due to natural disasters such as fire, explosion, earthquake, self-ignition or lightning, flood, typhoon, tempest, inundation, hurricane, storm, hailstorm, cyclone, frost, landslide, etc.
- Any sort of damage resulting due to man-made disasters like burglary, riot, theft, strike, terrorist acts, accident by external means, malicious act, any damage caused to the car during transit via rail, road, inland waterway, air, or elevator
- A compulsory Personal Accident cover for the owner or driver of the car while mounting/dismounting/driving/travelling from the car. The coverage under this Bajaj Allianz Car Insurance plan is provided for up to 2 lakh rupees for a minimal amount of premium of Rs.100
- Legal liability cover against third-party property damage, third person’s accidental death or disability
- The legal third party liability cover is an unlimited amount for death and up to a maximum of Rs.7.5 lakhs for injury and third-party property damages.
- Electrical or electronic fittings like music system, fog lights, AC, spoilers with brake lights (for 4% of the accessory’s value)
- Non-electric fittings which include mag wheels, non-electrical spoilers, seat covers, etc. as per the own damage rate on the value of the accessories
- Bi-fuel system and CNG Kit as endorsed on the registration copy will be covered by paying an extra amount of premium.
Optional Benefits
You can also choose any of the listed extensions with your basic car insurance policy:
- Coverage of car accessories
- Cover legal liabilities towards a cleaner, paid driver, or any workman
- Personal accident cover for the passengers
Bajaj Allianz Car Insurance Add-on Covers
The following additional cover options can be availed if you pay an extra amount of premium:
- Conveyance Benefit Cover - The insurer provides a daily cash benefit, the amount of which depends on the plan opted by you. It will be paid in the claim is accepted and the car is getting repaired in the workshop after accidental damage.
- Accident Shield Cover - Compensation is provided to the occupants of the insured car in case of death or any permanent total disability resulting due to an accidental injury.
- Consumable Expenses Cover - Compensation is also provided for expenses incurred on repairing and replacing the coolant, brake oil, the engine oil, gearbox oil, after an accident.
Variants of Car Insurance Plans offered by Bajaj Allianz
The Bajaj Allianz general Insurance company issues car insurance plans in three variants that are described below:
- Best Value Plan - A basic Bajaj Allianz Car Insurance plan with the lowest cost of premium among all the variants. The plan covers basic Third Party Liability, Personal Accident coverage for owner or driver and 24*7 Roadside Assistance cover.
Other optional covers include coverage for electrical accessories, coverage for non-electrical accessories, and Personal Accident cover for co-passenger, CNG Kit coverage, and Driver Cover.
The customer can avail a No-Claim-Discount and can also opt for voluntary deductibles wherein the customer promises to pay a part of the claim from his own pocket before raising the claim to the company. This option helps in reducing the overall cost of the premium. - Standard Plan - The plan offers regular coverage at a standard rate of premium. The Bajaj Allianz car Insurance plan provides basic Third Party Liability cover, Personal Accident coverage for the owner or driver and round-the-clock Roadside Assistance cover.
Other optional covers include coverage for electrical accessories, coverage for non-electrical accessories, and Personal Accident cover for co-passengers, CNG Kit coverage, and Driver Cover.
The No-Claim-Bonus can also be transferred from an existing policy held with another insurer up to a maximum of 50 percent. - Flexible Plan - It offers enhanced protection to the vehicle with the premium amount tending to be on the higher side.
The plan covers basic Third Party Liability, Personal Accident coverage for owner or driver, emergency Roadside Assistance cover, Depreciation Shield cover protecting the value of the car against depreciation and Engine Protector Cover that covers the engine of the car against damages.
Other optional covers include coverage for electrical accessories, coverage for non-electrical accessories, and Personal Accident cover for co-passenger, CNG Kit coverage and Driver Cover. The No-Claim-Bonus can be availed by the customer and the limit is up to 50 percent.
There is also a voluntary deductible option which can be chosen wherein the customer promises to pay a part of the claim from his own pocket before raising the claim to the company. This option goes towards lowering the cost of the premium paid by the customer.
Bajaj Allianz Car Insurance Plan Table
|
Parameters |
Best Value |
Standard |
Flexible |
|
Premium Cost |
Low |
Basic |
Enhanced |
|
PA-Cover for Owner/Driver |
Included |
Included |
Included |
|
No-Claim- Discount |
Optional |
Optional |
Optional |
|
Coverage |
Low |
Basic |
Enhanced |
|
Basic Third Party Liability Cover |
Included |
Included |
Included |
|
Depreciation Shield |
Not available |
Not available |
Available |
|
Electrical Accessories |
Optional |
Optional |
Optional |
|
Voluntary Deductibles |
Optional |
Not available |
Optional |
|
Coverage for Non-Electrical accessories |
Optional |
Optional |
Optional |
|
Premium for Own Damages |
Low |
Basic |
Enhanced |
|
Driver Protection |
Optional |
Optional |
Optional |
|
Engine Protector |
Not available |
Not available |
Available |
|
Personal Accident Cover for co-riders |
Optional |
Optional |
Optional |
|
24/7 Emergency Roadside Assistance |
Available |
Available |
Available |
|
CNG Kit Coverage |
Optional |
Optional |
Optional |
Liability Only Motor Insurance Policy by Bajaj Allianz:
A ‘Liability Only’ plan covering vehicles used for commercial purposes and not personal purposes.
- Scope of coverage
The following cover is provided under the Bajaj Allianz Car Insurance plan:
- Third Party Legal Liability that covers legal liability for any injury, death or any damage to the property of the third party arising out of the use of the insured commercial vehicle. Commercial Vehicles include goods carrying vehicles of both public and private carrier, passenger carrying vehicles, miscellaneous and special types of vehicles.
- Personal Accident coverage for owner or driver in case of accidental death and permanent total disability.
How to Apply or Renew your Bajaj Allianz Car Insurance Plans?
You can apply for a policy through various means:
- You can also request for a call back by filling in your details on the company’s website at the call back column
- Buying online is also possible on the website of the company
- You can also visit the company’s branches to get the policy renewed
Bajaj Allianz Car Insurance Premium Calculator
This policy can be compared online by individuals visiting the company website as well to buy the car insurance policy online.
The premium for a Bajaj Allianz car Insurance policy depends on a number of factors like IDV, i.e. Insured Declared Value of the car, the make and model of the car, year of purchase and registration, the city, etc.
Bajaj Allianz Car Insurance - FAQs
1. Why should I buy a Bajaj Allianz car insurance policy?
Life is uncertain. So, it is very necessary to be covered under the car insurance policy. It offers protection against three types of unfortunate events like third party liability, personal activity and damage to own car.
2. Can I purchase Bajaj Allianz Car Insurance policy online?
Yes, Bajaj Allianz Car Insurance allows you to purchase car insurance online. It also provides you the different option of payment like Debit or Credit card, or Internet Banking.
3. How much coverage does Bajaj Allianz Car Insurance policy provide?
The coverage offered by Bajaj Allianz Car Insurance depends on the IDV and the price of the car. You can easily purchase a Bajaj Allianz Car Insurance policy and file a claim on the company’s website.
4. Can I renew my existing Bajaj Allianz Car Insurance online?
Yes, you can renew Bajaj Allianz Car Insurance online. All you need to do is log in with your username/email and password on the company’s website to proceed.
5. Can I renew my other car insurance policy with Bajaj Allianz?
Yes, Bajaj Insurance allows you to renew your other car insurance policy with Bajaj Allianz with different payment option such as Debit or Credit card, or Internet Banking.
6. What types of a car does Bajaj Allianz insure?
You can purchase car insurance coverage for your new and used car from Bajaj Allianz
7. What is the claim settlement procedure of Bajaj Allianz Car Insurance?
Claim settlement procedure of Bajaj Allianz Car Insurance is very easy and quick. It only takes 3 business days to settle the claim. The company also promises to settle claims to settle all types of claims within 7 business days. It requires very few documents to process your claim, for example, the proof of policy document along with a duly filled claim form.
8. Does Bajaj Allianz insurance offer any discount on purchasing or renewing car insurance policy?
Yes, Bajaj Allianz offers 5% discount on own damage subject to the age between 35 and 45 years and 10% discount subject to the age between 46 and 65 years. It also offers 5% discount for policyholders who are on following positions; charted accountants, employees of state and central government, charted accountants, teachers in government schools, doctors in government hospitals.
9. Can I transfer my No Claim Bonus (NCB) discount?
Yes, you can transfer NCB of your previous car insurance to the new one purchased from Bajaj Allianz. There are multiple other benefits that are offered under Bajaj Allianz Car Insurance.
10. Am I allowed to transfer my Liability-Only insurance to Bajaj Allianz?
Yes, all you need to do is simply transfer your NCB of your previous car insurer to Bajaj Allianz. You will be able to enjoy all the benefits the same as you were enjoying with your previous insurance policy.
News
Written By: PolicyBazaar - Updated: 23 August 2019
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Bajaj Allianz Car Insurance Reviews & Ratings
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