Bajaj Allianz Two-Wheeler Insurance

Bajaj Allianz General Insurance is a joint venture between Bajaj Finserv Limited and Allianz SE, India's leading general insurance company. The company provides two-wheeler insurance coverage to different types of motor vehicles, including bikes and scooters.

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Bajaj Allianz Bike Insurance Policy – Key Features

The following are the key features of the Bajaj Allianz bike insurance policy:

Categories Key Features
Two-wheeler Network Garages 4500+
Claim Settlement Ratio (CSR) 96.5%
Customer Assistance Available 24x7
Personal Accident Cover (PA Cover) Up to Rs. 15 Lakh

Why Choose Bajaj Bike Insurance Policy?

  • Hassle-free online Bajaj bike insurance renewal process.
  • Enjoy all the priority services from Bajaj Allianz authorized network garages across India.
  • Get a range of add-on covers to protect the bike and its associated parts.
  • Get No Claim Bonus (NCB) up to 50%.
  • Quick and smooth claims settlement process with a 96.5% Claim Settlement Ratio (CSR).

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Bajaj Allianz Bike Insurance Coverage

Bajaj Allianz offers comprehensive coverage for two-wheeler insurance policies, safeguarding your bike against risks such as physical damage, third-party liabilities, injuries, and theft.

The company offers two types of bike insurance policies:

  1. Third-Party Liability Only Policy

    According to the Motor Vehicles Act, every two-wheeler owner must possess a third party bike insurance. Bajaj Allianz's third-party insurance policy aims to protect owners from third-party liabilities in the event of a road accident. This coverage ensures financial assistance for any injury or death caused to a third party or damage to their property.

    The Insurance Regulatory & Development Authority (IRDA) determine the premium for this policy based on the bike's engine capacity. Bajaj Allianz offers an affordable solution by focusing solely on the damages caused to other individuals or property.

  2. Comprehensive Package Policy

    The comprehensive package policy provided by Bajaj Allianz is the most popular policy purchased by two-wheeler owners. This policy combines the third-party liability cover and your own damage cover, offering extensive protection for your two-wheeler. The own damage coverage safeguards your vehicle against damages resulting from accidents, theft, fire, natural calamities, manmade disasters, and other unforeseen events. This comprehensive policy provides a holistic solution to protect third-party liabilities and your own vehicle from several associated risks.

    You may also read- Own Damage v/s Third Party Cover under Bike Insurance

Bajaj Allianz Bike Insurance Policy: Inclusions

The following are the inclusions of the Bajaj Allianz two-wheeler insurance policy-

  • The policy covers the insured bike against damage or losses due to natural calamities such as floods, earthquakes, landslides, rockslides, lightning, storm etc.
  • An unfortunate event such as an accident, theft, housebreaking, or burglary
  • Third-party liability arises from an accident causing injury, death, or property damage to the third party
  • Any loss or damage caused due to malicious activities, such as riots, vandalism, strikes, etc.

Bajaj Allianz Bike Insurance Policy: Exclusions

The significant exclusions of the Bajaj Allianz two-wheeler insurance policy are as follows-

  • Normal wear and tear caused to the two-wheeler
  • Mechanical or electrical breakdown
  • If the insured vehicle is used for a purpose other than the one mentioned in the policy documents
  • Losses suffered while the vehicle is driven under the influence of alcohol, drugs or other intoxicants
  • Damage or loss due to nuclear risk, civil war, war-like situation etc.
  • Damage to the consumables such as tubes and tyres where 50% of the replacement cost is provided only if the vehicle is damaged too
  • Any claim arising out of contractual liabilities
  • Other exclusions as mentioned in the policy wording.

Depreciation Rates According to the Different Parts of a Bike

Here is a list of different parts, along with the rate of depreciation applied to them-

  1. For all the nylon/rubber/plastic parts (tyres, tubes, batteries, and airbags)- 50%
  2. For fibreglass components – 30%
  3. For parts made up of glass – NIL
  4. For paint material- 50%

Rate of Depreciation According to the Age of the Bike

Below is a table showing the rate of depreciation set by IRDAI as per the bike's age-

Age of the Two-wheeler Rate of Depreciation (in %)
Less than 6 months old NIL (0%)
6 months – 1 year 5%
1 year – 2 years 10%
2 – 3 years 15%
3 – 4 years 25%
4 – 5 years 35%
5 – 10 years 40%
More than 10 years old 50%

*Disclaimer-The above table is for illustration purposes only. Kindly refer to the policy wordings of the insurer to understand the terms & conditions.

Personal Accident(PA) Cover for the two-wheeler Owner

Rs. 15 lakhs is offered as a Personal Accident (PA) cover to the vehicle's owner in cases of bodily injury or death during an accident.

Here is a table showing the scale of compensation offered by the insurance company in case of injury/death of the owner:

Nature of Injury Scale of Compensation
Accidental Death 100%
Loss of two limbs or two eyesight / one limb and one eyesight. 100%
Loss of one limb or one eyesight 50%
Permanent Total Disability due to injuries due to other pointers mentioned above 100%

Things to Remember in Personal Accident (PA) Cover

The PA cover compensates the policyholder for accidents resulting in bodily injury, disability, or death. It is crucial to note that the PA cover does not extend compensation for self-harm, self-inflicted injuries, suicide, or any harm resulting from intentional actions. Additionally, injuries or disabilities arising from the consumption of alcohol or drugs are not eligible for compensation.

You may also read- Best Two-wheeler Insurance Company in India 2023

Bajaj Allianz Bike Insurance Renewal Online

Bajaj Allianz allows its policyholders to renew their bike insurance online. The process of two-wheeler insurance Bajaj Allianz online renewal is customer-friendly. You only need an internet connection, computer, and bike insurance policy details.

Step 1-Go to the renewal section available in the official website of the insurer

Step 2-Find the form asking for the details of your previous policy

Step 3-Review the policy terms & conditions and choose the add-on covers wisely.

Step 4-Pay the Bajaj insurance premium online

Step 5-Once the payment is completed, you will receive the policy document for the Bajaj bike insurance policy at your registered email ID.

How to Register a Claim for Bajaj Allianz Bike Insurance Policy?

A Bajaj Allianz two-wheeler insurance policyholder can follow the below-mentioned steps to make a successful claim with the company:

  1. Theft Claims Settlement

    • File an FIR at the nearest police station
    • Submit the FIR report to the insurance provider
    • The insurance company will designate a surveyor to handle your issues
    • Once the inspection is completed, inform your RTO about the theft incident
    • Keep the required documents handy based on which you will be compensated 
    • If your insured bike is not traceable for over a month, the police will issue an untraceable report as valid proof. Based on it, your insurance company will settle the claims.
  2. Accidental Claims Settlement

    • Inform your insurer and fill up & sign the claim form available on the insurer's website
    • The insurer will send the surveyor to inspect the damages at the incident site
    • Your insurer will review the inspection report sent by a surveyor
    • Get ready with the mandatory documents required to process the claim request
    • The insurance company will settle your claims based on your choice, i.e., cashless facility or reimbursement facility.
  3. Third-party Claims Settlement

    • Immediately inform your insurer about the accident
    • Share the summons from the court with your insurance company 
    • Submit the filled & signed Bajaj Allianz insurance claim form 
    • Submit the required documents to the respective authority
    • The Tribunal court settles the case.

Documents Required to Claim Bajaj Allianz Bike Insurance

For Theft Claims

  • Claim Form duly signed by the insured.
  • RC Copy of the Vehicle with all original keys
  • Driving License Copy
  • The original insurance plan photocopy
  • The FIR report
  • Police Untraceable Report

For Accident Claims

  • The insured will have to sign the claim form.
  • The valid registration copy of the two-wheeler
  • A copy of the owner's Driving License
  • Copy of the Bajaj Allianz bike insurance policy's first 2 pages
  • The FIR at the local police station or the MCR (Motor Collision Report)
  • Original Estimate
  • The original repair invoice and payment receipt. Only the repair invoice is required if a preferred workshop is chosen.

For Third-Party Claims

  • Claim Form duly signed by the insured.
  • Copy of Police First Information Report (FIR)
  • Copy of Driving License (DL)
  • Copy of the Original Policy
  • Copy of Vehicle's Registration Certificate (RC)
  • Stamp required for company registered vehicle's original documents

The company's Spot Settlement facility through Bajaj Allianz Mobile Statement Service can be availed if the scope of the loss is small. If repairs are done in a preferred workshop, Bajaj Allianz General Insurance settles the claim directly. However, the policyholder should pay the depreciation value and excess amount specified in the policy, salvage value, etc., which the company's surveyor has informed.

Bajaj Allianz Two Wheeler Insurance - FAQs

  • Q1. Why should I buy Bajaj Bike Insurance Policy?

    Ans: Bajaj Allianz's two-wheeler insurance policy offers you a sense of freedom, thereby protecting your motorcycle or bike or scooter from loss or damage caused due to theft, fire, accident, third-party liability and other natural and manmade calamities.
  • Q2. What are the benefits of Bajaj Allianz's two-wheeler insurance policy?

    Ans: The two-wheeler insurance policies by Bajaj Allianz offer assured protection against accident, fire, and theft resulting in physical damage to the vehicle, including any third-party liability. Some additional benefits of this insurance company:
    • Hassle-free claim settlement
    • Quick online policy purchase
    • 24x7 online customer support
  • Q3. What is a No Claim Bonus(NCB) under Bajaj Allianz Bike Insurance?

    Ans: No Claim Bonus or NCB is a bonus reward to the policyholder or owner of the two-wheeler for not making any claims in a policy year. Bajaj Allianz two-wheeler insurance gives you a discount of up to 50% on the Own Damage policy renewal for not making any claims for five successive policy years.
  • Q4. Should/Can I make claims for minor dents?

    Ans: Yes, you can claim any amount, but making a Bajaj Allianz two-wheeler insurance claim less than the No Claim Bonus's value is not advisable, as it would forfeit your entire NCB for a small sum.
  • Q5. How to reduce the premium of Bajaj Allianz bike insurance?

    Ans: Maintain a record of No Claim Bonus over five successive years and transform the accumulated amount into a discount on the damage premium. Alternatively, you can opt for voluntary excess, allowing you to bear specific losses out of your pocket against each claim you make.
  • Q6. Can I download Bajaj bike insurance online?

    Ans: Yes, you can easily download Bajaj bike insurance online from the official website of Policybazaar Insurance Brokers Private Limited. However, you can also download it from the insurance company's official website if you have purchased it there.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 73 Reviews)

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Bajaj Allianz Two Wheeler Insurance Reviews & Ratings

4.5 / 5 (Based on 73 Reviews)
(Showing Newest 10 reviews)
Nishith
Kanpur, October 09, 2021
Claim settlement
Due to an accident my bike got damaged for which i got claim settlement. bajaj allianz Two Wheeler Insurance made repairs cashless. Thankfully I did not have to bear the repair cost as I had already insured my two wheeler from Policybazaar.
Dinesh
Surat, October 09, 2021
Online process
After went through many plans on the website of policy bazaar i chose bajaj Allianz as it was matching my requirements . I found very convenient to purchase plan online. Buying the plan online saves money as well as time.
Abhishek
Pune, October 09, 2021
High coverage
I am glad that i chose the best two wheeler plan from PolicyBazaar. it covers losses or damages to the insured vehicle as well as personal accident. I got High coverage at very low rate in Bajaj Allianz two wheeler insurance.
Saket
Lucknow, October 09, 2021
Budget friendly plan
I was checking insurance provider websites and I came across the Policybazaar website. I saw various plans which were cost effective. I compared several two wheeler plans on the website and finally I picked the Bajaj Allianz two wheeler which came in my budget.
Kartik
Jaipur, October 09, 2021
Easy to switch
I am using Bajaj Allianz two wheeler insurance for last two years and i changed my insurance provider with Policybazaar as I did not get the facilities which i expected. On the suggestion of my colleague i visited policybazaar and here i got all the facilities i was looking for. i found it very convenient to switch.
Jasraj
Indore, August 18, 2021
hassle free experience
my experience with policy bazaar is great. from now i will buy my every plan from policy bazaar. i bought Bajaj allianz two wheeler plan for my bike. i liked their service. now I am planning to buy more plans from Policy Bazaar.
Divyansh
Kanpur, August 18, 2021
Renewal process
I am using Bajaj Allianz two wheeler policy since 2 years which i bought from policy bazaar. i have done renewal from home itself. i had received calls from the policy bazaar as a reminder of renewal. policy bazaar served their best service to their customers. overall had a great experience.
Ish
Nagpur, August 18, 2021
easy to compare
after looking many sites, i came to Policy Bazaar website and finally i got my plan here. i was looking for two wheeler insurance in my budget. i liked Bajaj allianz two wheeler insurance plan.
Santosh
Ata, June 04, 2021
Low premium
For low premiums, Bajaj Allianz two wheeler insurance offers good protection. I bought it online through policybazaar last year and also got extra discount. It is a good buy.
Sanjeev
Ayodhya, June 04, 2021
Customized plan
It is very easy to customize your two wheeler plan when buying through policybazaar. Their Bajaj Allianz plan was easy to understand, customize, and buy.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis