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- Bajaj Allianz Car Insurance
About Bajaj Allianz General Insurance Company
Bajaj Allianz General Insurance Co. Ltd began its operations in 2001. It is a joint venture between Bajaj Finserv Limited and the world's leading insurer Allianz SE. Bajaj Allianz car insurance has its presence in different cities across India. The insurer is known to provide pan India service to its customers along with digitally-enabled processes.
Bajaj Allianz General Insurance 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 economical insurance plans in the motor insurance sector.
Key Features of Bajaj Allianz Car Insurance
| Features | Coverage and Benefits |
| Third-Party Coverage | Yes |
| Incurred claim ratio | 68.06% |
| Personal Accident Insurance | Up to 15 Lakhs |
| Network Garages | 1024 |
| No Claim Bonus | Yes |
Benefits of Bajaj Allianz Car Insurance Plans
The features and benefits of Bajaj Allianz motor insurance plans are listed below:
- Car repairing assistance at 1024+ network garages where a policyholder can get cashless claim settlement
- The company also offers 24x7 emergency roadside assistance, which is just a call away.
- 24x7 claim assistance through SMS, emails, and phone call, even on holidays
- Tracking and monitoring of the vehicle with Bajaj Allianz Drive Smart Service
- A policyholder can also transfer his/her No-Claim Bonus from a previous motor insurance policy to Bajaj car insurance.
- A policyholder can avail motor on the spot service and conduct a self-survey of his/her vehicle in case of a breakdown or collision and get claim settlement on the spot.
- Add-on covers, such as Conveyance Benefit and Consumable Expenses, can be purchased for increased protection under the car insurance plan.
- Bajaj Allianz car insurance plans also offer Personal Accident Cover to the policyholder.
- The claim settlement ratio of Bajaj Allianz car insurance is 98%.
Types of Bajaj Allianz Car Insurance Policy
The Bajaj Allianz General Insurance Co. Ltd issues three types of car insurance plans that are described below:
Third-Party Car Insurance Policy
A third-party liability only plan by Bajaj Allianz General Insurance Company covers a policyholder against third party property damage, third-party bodily injury and death of the third party. This policy excludes covering damages sustained by the insured car.
Standalone Own Damage Insurance Policy
Bajaj Allianz Standalone Own Damage motor insurance plan covers the insured car against damages arising due to unanticipated events like a road accident, theft, fire, natural calamities, etc. A policyholder can opt for a standalone motor insurance plan along with an existing third-party liability plan.
Comprehensive Car Insurance Policy
A comprehensive car insurance policy offers protection to the insured car against theft, collision and accidental damage. It also includes damages resulting due to fire, earthquake, floods, etc. It also covers third-party liabilities. A comprehensive car insurance policy can also be enhanced by purchasing add-on covers at an extra premium.
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Bajaj Allianz Car Insurance Premium Calculator
Using the Bajaj Allianz car insurance premium calculator, you can easily get the amount of insurance premium charged for your preferred car insurance policy. It is advisable to use this tool before zeroing down on a car insurance plan. This will give you a fair idea about the premium that you will pay.
Coverage Under Bajaj Allianz Car Insurance
- Inclusions
- Exclusions
- Manmade Calamities: Loss or damage to the insured car resulting from manmade calamities such as strikes, riots, etc.
- Natural Calamities: Damages resulting from flood, earthquake, cyclone, hurricane, inundation, landslide, etc. are covered under your car insurance plan.
- Third-PartyLegal Liability: Any legal liabilities arising due to accidental loss or damage caused to third-party property, vehicle or person including accidental death or injuries.
- Theft: Damages sustained by the insured car due to theft, housebreaking or burglary.
- In-transit Damages: Any car damage that has taken place while in transit by rail, road, air, inland waterway, lift or elevator.
- Fire: Damages to the insured car due to fire, explosion, self-ignition and lightning are also covered in the Bajaj Allianz car insurance plan.
- Contractual Liability: Claims arising out of contractual liabilities involving the insured car are not covered under the Bajaj Allianz vehicle insurance plan.
- Consequential Losses: The insurance company will not cover any consequential loss of the car under its car insurance plans.
- Depreciation: Regular wear and tear resulting in the depreciation of car body parts are also excluded.
- Drunk Driving: Damages sustained by the insured car if the driver was under the influence of alcohol are not covered.
- Invalid Driving License: No cover will be provided if the driver was driving without a valid driving license.
- Breakdown: Damages arising due to mechanical or electrical breakdown of the car are not covered.
- Used for Other Purpose: If a private insured car is being used for commercial purposes, the damages sustained will not be covered.
Bajaj Allianz Car Insurance: Add-ons
To ensure wider coverage in the time of crisis, you can get the following add-on covers in your car insurance policy -
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Personal Baggage Cover
In the event of any loss or damage caused to the personal belongings that are kept in the car, the Personal Belongings cover will reimburse the losses incurred.
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24x7 Spot Assistance
Under this cover, emergency roadside assistance is provided to the insured car all over India. It includes assistance in the event of car battery damage, flat tire, breakdown due to an accident and similar circumstances.
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Lock And Key Replacement Cover
If the car keys are lost or left inside the car, assistance will be provided to recover the same under this add-on cover, including the cost of new keys and locks.
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Consumables Expenses
Under this add-on cover, the insurance company will compensate the expenses incurred in replacing or repairing the engine oil, coolant, brake oil, gearbox oil and other consumables while the car is being repaired.
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Conveyance Benefit
If the insured car is getting repaired in a cashless workshop, the policyholder will get a 'per day' cash benefit for the everyday commute.
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Zero Depreciation Cover
Under the zero depreciation add-on cover, the insurance company will compensate for the depreciation borne by the insured car during claim registration. Thus, in the event of a claim, a policyholder will receive the full value of the insured car and its spare parts.
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Engine Protector Cover
The Engine Protector add-on will cover the expenses incurred in replacing or repairing the engine of the insured car due to oil leakage, water ingression, and more.
Add-ons for your car insurance
How to File a Claim Under Bajaj Allianz Car Insurance?
You can file a claim under Bajaj Allianz car insurance by following these steps:
- Inform the Insurer: Immediately inform Bajaj Allianz General Insurance Company about the incident so that they can register a claim as soon as possible. You can register the claim online, over email or by contacting their toll-free number.
- Submit Documents: Fill out the claim registration form and upload all the required documents. Make sure to keep all the relevant documents handy.
- Car Inspection: Once the claim has been registered, a surveyor from Bajaj Allianz car insurance will inspect your car and estimate the damages incurred.
- Claim Processed: Once the inspection is done, the car will be repaired and the Bajaj Allianz car insurance team will make the payment for the car damage repair to the network garage. If the repairs have been done at a non-network garage, you can pay the bill and the insurance company will reimburse you the repair amount later.
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Documents Required to Raise a Claim Under Bajaj Allianz Car Insurance
Keep the following documents handy while registering a Bajaj car insurance claim-
- Copy of Police FIR
- Duly signed claim form
- Proof of the car insurance policy
- Copy of valid driving licence
- Estimate bill for repairs
- Repair bills and payment receipts
- Copy of Registration Certificate
- Claims discharge signed across a revenue stamp
How to Renew a Bajaj Allianz Car Insurance Policy?
Bajaj Allianz car insurance renewal can be easily done online. Take a look at the steps for Bajaj car insurance renewal online below:
- Visit the Car Insurance page on Policybazaar.com
- Enter the car number on the given form and select “View Instant Quotes”
- Fill in the required details and select view prices
- Select the policy expiry date and previous claim details
- From the mentioned plans, find the Bajaj Allianz car insurance plan you want to renew. You can also view policy details.
- Include the add-ons you want to add to your plan
- Select the NCB discount of your existing policy
- Fill out the proposal form and verify the details
- Once the details are verified, select summary and payment.
- After the premium verification, make payment.
- As soon as the payment is received, your Bajaj Allianz car insurance renewal will be complete.
- Your Bajaj Allianz car insurance renewal online papers will be sent to you at your registered email.
Car Insurance for Popular Brands in India
FAQs
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Q1. Why should I buy a Bajaj Allianz car insurance policy?
Ans: Life is uncertain. So, it is extremely necessary to cover your four wheeler under a car insurance policy. It offers protection against three types of unfortunate events like third party liability, personal accident and damage to own car.
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Q2. Can I purchase the Bajaj Allianz Car Insurance policy online?
Ans: Yes, Bajaj Allianz General Insurance Company allows you to purchase car insurance online. It also provides you with the different options of online payment like debit or credit card, or internet banking.
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Q3. How much coverage does the Bajaj Allianz Car Insurance policy provide?
Ans: The coverage offered by Bajaj Allianz Car Insurance depends on the IDV and the price of the car.
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Q4. Can I renew my existing Bajaj Allianz Car Insurance online?
Ans: Yes, you can renew Bajaj Allianz Car Insurance online. All you need to do is log on to Policybazaar.com and follow the instructions.
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Q5. Can I renew my other car insurance policy with Bajaj Allianz motor insurance?
Ans: Yes, Bajaj Allianz General Insurance allows you to renew your other car insurance policy with Bajaj car insurance by paying the premium using different payment options, such as debit or credit card, or internet banking.
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Q6. Which types of cars does Bajaj Allianz insure?
Ans: You can purchase car insurance coverage for your new and used car from Bajaj Allianz car insurance.
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Q7. In how much time does a Bajaj Allianz Car Insurance claim gets settled?
Ans: Claim settlement procedure of Bajaj Allianz Car Insurance is very easy and quick. It usually takes only 3 business days to settle the claim. The company also promises to settle all types of claims within 7 business days.
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Q8. Does Bajaj Allianz car insurance offer any discount on purchasing or renewing a car insurance policy?
Ans: Yes, Bajaj Allianz car insurance offers a 5% discount on own damage cover if the car owner’s age is between 35 and 45 years and a 10% discount if the age is between 46 and 65 years. It also offers a 5% discount to policyholders who work as charted accountants, employees of state and central government, teachers in government schools or doctors in government hospitals.
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Q9. Can I transfer my No Claim Bonus (NCB) discount?
Ans: Yes, you can transfer the NCB of your previous car insurance to your newly purchased Bajaj Allianz car insurance. Just inform the insurer about your NCB while buying/renewing the policy.
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Q10. Am I allowed to transfer my liability-only insurance to Bajaj Allianz car insurance?
Ans: Yes, you can transfer your third party liability-only policy to Bajaj Allianz car insurance. You just have to file a portability request with the Bajaj Allianz General Insurance Company.
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Q11. What is No-Claim-Bonus in car insurance?
Ans: No Claim Bonus is a reward granted to the policyholder for all claim-free years. It is a discount on the car insurance premium that is provided to the insured at the time of policy renewal. NCB can be accumulated up to 50% after five consecutive claim-free years.
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Q12. What is the significance of Insured Declared Value or IDV while calculating car insurance premium?
Ans: IDV is the current market value of a vehicle that you get after deducting the depreciation on its parts. The registration cost of the vehicle is also excluded. The IDV of non-factor fitted parts is calculated separately. The IDV of a car with fitted accessories is to be calculated at the time of policy purchase or renewal on the basis of the selling price listed by the manufacturer of a particular brand and model. The depreciation is also adjusted on the basis of the car age as mentioned in the table below. It is applicable for claims arising out of total loss or constructive total loss only.
Car Age Depreciation (%)
For Fixing IDV
Up to 6 months
5%
6 months to 1 year
15%
1 year to years
20%
2 years to 3 years
30%
3 to 4 years
40%
4 to 5 years
50%
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Q13. What do you mean by compulsory deductibles?
Ans: Compulsory deductibles are the amount that the policyholder needs to pay from his/her own pocket during claim settlement. For instance, suppose a compulsory deductible of Rs 2000 is applicable on all claims. In the event of an accident, if the cost of repair comes up to Rs. 10,000, then the insurance company will pay Rs 8,000 and the remaining amount that is the deductibles will be paid by the policyholder.
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Bajaj Allianz Car Insurance Reviews & Ratings
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