Bajaj Auto Insurance

Bajaj Auto Insurance Overview

Bajaj Auto Limited is amongst the top and oldest automobile manufacturers in India. They are a popular choice in India and across borders.

A Bajaj auto insurance is customized to protect a commercial vehicle from accidental damages due to theft, fire, collision, and third-party liabilities. It prevents the owner-driver of the vehicle from suffering a financial setback by offering monetary assistance during adversities.

Bajaj Auto Insurance Price

The following table highlights some of the popular passenger carrying and good carrying Bajaj vehicles along with their third party commercial vehicle insurance premium rates.

*Disclaimer: The third-party insurance premium Bajaj commercial vehicles is mentioned as per the IRDAI and depends on the battery capacity/engine capacity/passengers allowed. The premium may vary if you choose a comprehensive policy and add-ons.

Reasons to Buy a Bajaj Auto Insurance Policy

If you are still confused about whether to buy a Bajaj auto rickshaw commercial insurance policy, here are a few reasons to help you decide better. Take a look:

• Mandatory as per Law:For any commercial vehicle to ply legally on the roads of India, it is compulsory to purchase at least a third party commercial vehicle insurance policy.
• Protects Your Vehicle and Third Party Liabilities: By buying Bajaj auto insurance for your commercial vehicle, you can also protect yourself from paying huge repair expenses that you may incur if your vehicle meets with an accident or injures someone else.
• Avoid Traffic Fines: A valid vehicle insurance policy is essential to avoid traffic fines on the roads of India. Not having a valid commercial vehicle insurance policy while driving in India is a traffic rule violation, which can attract a heavy penalty.
• Easy to Buy: Purchasing a commercial vehicle insurance online is a simple and hassle-free process.

Types of Bajaj Auto Insurance Policy

You can check the two major types of commercial vehicle insurance policy below:

1. Bajaj Third Party Commercial Vehicle Insurance

   A third party commercial vehicle policy provides coverage only against damages to the third party property, third party bodily injury and death of the third party due to an accident involving the insured commercial vehicle.

2. Bajaj Commercial Vehicle Package Policy

   Comprehensive commercial vehicle insurance offers coverage against damages sustained by the insured commercial vehicle due to events like natural calamities, theft, fire, accident and more. Moreover, this policy also covers third party liabilities arising due to the insured commercial vehicle.

Bajaj Auto Insurance Add-Ons

The Bajaj auto insurance for commercial vehicles offers some additional covers that can be purchased by paying some extra premium

• Personal Accident (PA) Cover: It is mandatory for you to buy a personal accident cover with your insurance policy. The PA Cover for the owner driver of ₹15 lakhs and insurers also offer an add-on of ₹1 lakh or ₹2 lakhs for the paid driver.
• Zero Depreciation: The value of your vehicle depreciates with age. If you file any claim, insurance companies deduct the depreciation cost which reduces the claim amount. However, with this add-on, your insurer is liable to pay the full claim amount without deducting any depreciation on repaired parts such as glass, fiber glass, etc, in case of an accidental claim.
• Accessories Cover: Insurers offer this add-on to cover any damage or loss occurred to the electrical and non electrical accessories and fittings that are not a part of the manufacturer's initial selling price.
• IMT 23: This add-on provides an extended coverage to uninsured parts such as tyres, tubes, bonnet, lamps, side parts, mudguards, headlights, bumpers, etc after considering and deducting the depreciation costs in case of an accident.

How to Buy Bajaj Auto Insurance Online?

To purchase Bajaj auto commercial vehicle insurance online, follow the steps mentioned below:

• Visit Policybazaar.com and select the 'Commercial Vehicle Insurance' option.
• Enter the required details in the given form
• Now choose the type of commercial vehicle
• Select your vehicle's manufacturer i.e. 'Bajaj Auto'
• Select your commercial vehicle's mode, and the variant and view free quotes
• Select your vehicle's registration year and RTO
• From the given Bajaj insurance for commercial vehicle plans, find the plan that suits your budget.
• Select add-ons that you wish to add to the existing plan
• Fill out the required form and proceed with payment
• Pay the premium amount via your preferred online payment method
• Once you have successfully made the payment, you will receive your policy papers at your email id.

How to Renew Bajaj Auto Insurance?

For Bajaj auto commercial vehicle policy renewal, visit Policybazaar.com and follow the steps mentioned below:

• Go to the 'Commercial Vehicle Insurance' tab.
• Enter the vehicle details, choose your add-ons, and customise your IDV as per your previous year policy.
• Enter policy expiry date and previous claim details of your auto-rickshaw insurance policy and click on submit.
• All the available plans will be displayed on the screen. Choose the most suitable plan for yourself.
• Pay the premium using a credit card/debit card /UPI/netbanking method
• Once the premium has been paid, your Bajaj auto commercial insurance will be renewed. You will receive policy documents at your registered email id.

How to File a Claim Against your Bajaj Auto Insurance

You can follow these steps to raise a Bajaj auto commercial vehicle insurance claim:

• Intimate the insurance company about the damages/ theft of the vehicle to register a claim immediately. File an FIR also in case of third party claim as it is one of the most important steps.
• The insurance company will send a surveyor to estimate the value of damages incurred by the insured vehicle.
• For the claim to be processed, you will be required to show relevant documents to the surveyor.
• Once the claim has been approved, the insured vehicle will be sent for repairs to an authorized network garage. The insurance company will settle the claim directly with the network garage.
• The claim amount will be reimbursed to you if the insured commercial vehicle has not been repaired in the network garage, provided you settle the bill with the garage.

Documents Required to File a Bajaj Auto Insurance Claim

The following documents are required to file a Bajaj auto insurance claim:

• Copy of a Police FIR
• Driving license of the driver
• Duly filled and signed claim form
• Valid fitness certificate
• Commercial vehicle insurance policy documents
• A copy of the registration certificate.