Bajaj Allianz Marine Insurance

Bajaj Allianz General Insurance Company is one of the most trusted and reliable insurance service providers in India. With more than 20 years in the industry, the company has gained the trust of more than 11 crore customers with the aid of 9000+ employees and 80,000+ agents spread across 1,100 offices PAN India. Bajaj Allianz Marine Insurance policy provides cushioning against various unforeseen risks of loss/damage to assets and goods in transit.

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*Premium varies on the basis of Occupancy, Business Activity & Coverage Type

Features Of Bajaj Allianz Marine Insurance

Following are the salient features of Bajaj Allianz Marine Insurance:

  • Cost-Saving: In case of a marine disaster, the arising costs become quite expensive. With marine insurance, Bajaj Allianz General Insurance Company helps manage the risk of such financial liabilities, hence helping you save on unforeseen costs.
  • Provides Peace of Mind: Having insurance in hand provides peace of mind as the insurer keeps you covered against unforeseen cargo risks during transport.
  • Large Network Of Surveyors: With their large network of surveyors across the nation, claiming insurance is hassle-free with Bajaj Allianz General Insurance Company.
  • Personalized Plans: You can tailor the Bajaj Allianz Marine Insurance Policy based on your appropriate requirements. Additionally, you can also opt for extensions to enhance the policy’s overall coverage.
  • Wide Range of Extensions: Bajaj Allianz General Insurance Company provides an extension for circumstances such as riots, multiple transits, FOB, incidental storage, strikes, fire breakout. etc.
  • Assistance and Surveys: Bajaj Allianz General Insurance Company assists with global claims and surveys.
  • Quality Service: Policy holders get to experience the best-in-class after-sales service for an enriching customer experience with Bajaj Allianz Marine Insurance.

What Is Covered Under Bajaj Allianz Marine Insurance Plan?

With the Bajaj Allianz Marine Insurance plan, policyholders get coverage for the loss or damage caused to goods and assets during transportation under the following circumstances:

  • Fire/Explosion: Bajaj Allianz Marine Insurance Plan provides coverage for the loss or damage caused to goods by a fire breakout or explosion.
  • Natural disasters: Bajaj Allianz General Insurance Company also provides coverage for the loss or damage to goods due to natural disasters such as lightning, tsunami, or volcanic eruption
  • Collision: Policyholders are covered if their goods or assets are damaged or lost due to collision with another vessel, craft except for water.
  • Distress: Loss of goods or assets due to discharge of cargo at a port of distress is covered underthe Bajaj Allianz Marine Insurance Plan.
  • Jettison/Washing Overboard: Jettison of goods or assets or washing over the vessel’s board causing damage to goods is also covered by the company under this marine insurance plan.
  • Derailment: Bajaj Allianz General Insurance Company covers the loss or damage of goods during transit due to the derailment of land conveyance.
  • Overturning: The insurance plan provides coverage for overturning of the vessel leading to financial loss.
  • Stranded Vessel: The vehicle or vessel being stranded, grounded, sunk, or capsized leading to complete loss of the goods will be covered under the marine insurance plan.
  • Entry of Water Inside the Vessel: Entry of ocean, sea, lake, or river water into the vessel's place of storage leading to damage or loss of goods will be covered under the insurance plan.
  • The package being dropped: Total loss of goods due to any package being dropped while loading/unloading to and from the vessel will be covered under the insurance plan.

What Is Not Covered Under Bajaj Allianz Marine Insurance?

The Bajaj Allianz Marine Insurance plan does not provide cover to the policyholder for the following:

  • Willful Misconduct by Assured: Any type of wilful misconduct of the assured leading to loss or damage of goods will not be covered by the insurance company.
  • Wear and tearInsurer will not provide any coverage for damage caused due to ordinary leakage, loss in weight/volume, or wear and tear of the insured subject.
  • Deliberate damage: The insurance company will not provide coverage for circumstances where the wrongful acts of people, causing destruction or damage to the subject matter insured deliberately have led to the loss of goods.
  • Willful Negligence: The Insurance company will not provide coverage for the loss or damage caused to the goods during the transit due to willful negligence.
  • War: The insurance plan will not cover any loss or damage to goods caused during a war or war-like situation.
  • Nuclear weapons: Loss or damage caused due to the employment of weapons of war or nuclear activities such as fission/fusion or other reactions involving bombs and mines will not be covered under the marine insurance plan.
  • Preparation & Packaging: Insufficient preparation or unsuitable packaging leading to the loss or damage of goods will not be covered under this marine insurance plan.
  • Unfit Vessel/Vehicle: Liability coming out of unworthiness or unfitness of the craft, vessel, or container will not be covered.
  • Delay in transit: Bajaj Allianz General Insurance Company will not cover the policyholder against any kind of loss or damage caused to the goods due to delay in transportation.
  • Bio-Hazard: The marine insurance plan will also not provide coverage for any type of damage caused due to radioactive or nuclear waste
  • Civil Unrest: The insurance company will not provide coverage for the loss or damage due to strikes, riots, or vandalism.

How To Raise A Claim Under Bajaj Allianz Marine Insurance?

Follow the convenient process mentioned below to raise a hassle-free claim with Bajaj Allianz General Insurance Company:

1. Inform Insurer: The first step involves Informing Bajaj Allianz General Insurance Company about the loss immediately after the incident.

2. Document the damage: Once you have informed the company, start taking pictures/videos of the damage or loss caused due to the accident to maintain photographic evidence.

3. Keep Necessary Documents Handy: Make sure that you have all the documents handy that will be required to make the claim quickly.

4. Fill the Claim Form: Ask the insurer to provide the claim form and fill and submit it along with the required documents.

5. Inspection: Once the claim is raised, Bajaj Allianz General Insurance Company will send an inspector to survey the loss or damage caused to verify the claim and initiate the further process.

6. Compensation: Once the survey report is submitted by the inspector and verified by Bajaj Allianz General Insurance Company, the process of compensation is initiated and the compensation is received by the policyholder.

How To Renew Bajaj Allianz Marine Insurance?

Bajaj Marine Insurance Plan comes with a fixed policy period and is required to be renewed periodically to be valid and legal. Follow the steps mentioned below to easily renew the marine insurance plan

  • Step 1: Visit the official website of the insurance company
  • Step 2: Enter the policyholder’s details including name, unique policy number, etc.
  • Step 3: Now enter the insurance policy details
  • Step 4: Review the policy document and verify the details
  • Step 5: Make any additional changes, in case you wish to add, remove anything in your marine insurance plan
  • Step 6: In case you have removed anything, the premium amount will be lower, and if you have added anything, the premium of the marine insurance plan will be higher than the existing plan.
  • Step 7: Make the required payment online using Debit/credit card, Netbanking, or UPI
  • Step 8: Once the payment is successful, Bajaj Allianz General Insurance Company will renew the policy and send the confirmation over the registered email ID.

Make sure that you renew the insurance plan before it lapses to avoid the cancellation of your policy.

Why Buy From Policybazaar Insurance Brokers Private Limited?

Purchasing the Bajaj Allianz Marine Insurance plan from Policybazaar Insurance Brokers Private Limited is a simple, time and cost-saving job. You can compare several plans in detail before deciding which one to buy. This will help you choose the best marine insurance plan that not only suits all your requirement but also fits your budget. You can also estimate the premium amount using an online premium calculator at Policybazaar Insurance Brokers Private Limited.


Written By: PolicyBazaar - Updated: 23 August 2023
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Policybazaar for Business - Marine Insurance - Customer Reviews
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Based on 114 reviews
out of 5
Based on 114 reviews
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3.8 April 20, 2023
Great Experience
I recently purchased Marine insurance from Policybazaar for my shipping business and I must say I am thoroughly impressed with their service and coverage. From start to finish, the experience has been smooth and hassle-free.Thankyou.
4.3 April 03, 2023
Provides Comprehensive Protection
When it comes to coverage, Marine insurance that i bought from PolicyBazaar has exceeded my expectations. It provides comprehensive protection for my cargo and vessels during transit, ensuring I can focus on my business operations with peace of mind. Thankyou.
4.3 March 17, 2023
Excellent Services
I highly recommend Marine insurance from PolicyBazaar website to anyone in the shipping or logistics industry. Their user-friendly website, comprehensive coverage, and excellent customer service make them stand out from the competition. With Policybazaar, I feel confident in navigating the high seas, knowing that my business is well-protected. Thank you, Policybazaar.
4.3 February 28, 2023
User Friendly Interface
The website's user-friendly interface made it easy to compare different plans and find the perfect fit for my business needs.Thanks
4.3 February 11, 2023
Prompt Services
I appreciate the transparency and honesty with which Policybazaar handled my claims. They were prompt in processing my claim and their claim settlement process was hassle-free.Thanks PolicyBazaar.
3.8 February 10, 2023
Exceeds Expectations
I recently had the pleasure of purchsing marine insurance from Policy bazaar website and I must say it has been an outstnding experience from start to finish. I am thrilled to share my positive customer review, as this truly exceeded my expectations. Thanks PB.
3.8 January 31, 2023
Easy Navigation
The ease of navigating the Policy bazaar website and finding the right marine insurance policy was impressive. The website's user-friendly interface and intuitive design made it incredibly simple to compare various options, understand the coverage details and make an informed decision. I appreciated the transparency provided throughout the process. Thanks.
3.8 January 21, 2023
Excellent Support
The customer service provided by Policy bazaar was decent. Their team was responsive, knowledgeable and went above and beyond to assist me at every step. Their professionalism and commitment to customer satisfaction were truly commendable.Thankyou.
4.3 January 11, 2023
Sanjeev Rathor
Efficient Process
When it came to claims processing, Policy bazaar demonstrated remarkable eficiency and effectivenes. I had an unfortunate incident during the coverage period and filing a claim was a breeze. The entire process was streamlined and their team guided me throuugh every necssary step, making it hassle-free. The promptness with which my claim was setled reflected their commitment to their customers' well-being and peace of mind. Thankyou.
3.8 January 01, 2023
Comprehensive Coverage
I must mention the comprehensive coverage provided by the marine insurance policy I purchasd through Policy bazaar. It offered me the necesary protection and peace of mind. Thankyou PolicyBazaar.