Bajaj Allianz Car Insurance

Bajaj Allianz offers different car insurance policies to cater to the needs of its diverse customers. Bajaj Allianz has more than 4 thousand network garages all over the country, a very fast claim settlement cycle, and an extremely efficient customer service team.

The company's full name is Bajaj Allianz General Insurance Company Limited. It is a joint venture between Allianz SE and Bajaj Finserv Limited. ABP News - Banking, Financial Services and Insurance Awards gave the "Best General Insurance Company in the Private Sector" to Bajaj Allianz General Insurance. Moreover, the company also received the BFSI Awards in 2014 for its outstanding performance in Banking, Finance & Insurance Services.

Bajaj Allianz Car Insurance: Overview

Bajaj Allianz Car Insurance is a leading provider of comprehensive, customer-friendly and robust car insurance policies in India. It is a popular choice as Bajaj Motor Insurance is marked by a professional customer support initiative, a long list of friendly features and benefits, along with Bajaj’s years of sustenance as a very reliable and trustworthy brand in the Indian marketplace. Allianz SE, its partner,  is a European financial services powerhouse. Allianz SE is extremely popular and dominates the International insurance market. Together they form Bajaj Allianz Car Insurance that offers the expertise of an internationally known insurance expert combined with the compatibility of a local partner.

Why Purchase Bajaj Allianz Car Insurance?

The trademarks of any good car insurance product in India is mainly determined by the simplicity of procuring it, the range of features and benefits it offers and the responsiveness of the customer support wing. Bajaj Allianz Car Insurance offers all of these, and more:

• A wide selection of 4000+ network garages spread all over the country

• Availability of cashless settlements

• If the cashless facility is unavailable, up to 75% of the repair costs are covered on account payment.

• A hassle-free and dependable claim settlement cycle

• Simple and quick purchase and renewal process

• If someone transfers their existing policy to Bajaj Car Insurance, up to 50% of the extant and applicable No Claim Bonus can also be transferred.

• A world-class customer support team, with 24x7 assistance on all 365 days of the year, including holidays and Sundays

• Timely services with regard to towing facility, key replacement, accident shield, 24x7 roadside assistance, etc.

• Instant claim assistance via SMS/email updates and the 24x7 customer support always keeps you updated regarding the claim status

Bajaj Allianz Car Insurance: Coverage

The Bajaj Allianz Car Insurance policy covers the following conditions with regards to the insured vehicle:

• Natural Reasons: Damages caused by natural catastrophes, such as fire, earthquake, hurricane, lightning, landslide, rockslide, cyclone and other similar uncontrollable acts of nature are covered.

• Man-Made Reasons: Damages to the vehicle or complete loss of the vehicle due to any intentional or unintentional acts of man are covered. These include acts with malicious intent, theft, terrorism, strikes, accidents caused by external means, damage caused to the vehicle when being transported, etc.

• Personal Accident Cover: If the owner or the driver of the vehicle meets with an unfortunate accident while driving or using the vehicle for its intended purpose, then he/she is entitled to receiving Rs.2 lakh as Personal Accident Cover. Moreover, the passengers of the vehicle, who may be victims of the accident, are also protected by additional personal accident coverage.

• Third-Party Liability: This is a protection against possible financial liabilities in which the insured vehicle is responsible for or has been involved in an accident, which resulted in the damage or loss of any third-party property and/or caused injury/death of a third-party individual. Instead of benefitting the insured directly, this cover saves him/her from the legal, medical and repair costs that the affected party may ask for a settlement.

Bajaj Allianz Car Insurance: Plans At a Glance

Choices are always welcomed pleasantly! More so if the choices are customized to suit various personalized needs. Bajaj Allianz Car Insurance plans offer this icing on the cake. This insurance has always been a favorite of people, mainly for its people-centric ways. These insurance plans are intended to be simple to apply for, manage and claim upon. These are the popular car insurance policies in India offered by Bajaj Allianz:

BEST VALUE

• It's the basic budget plan

• Intended for the non-power users

• The premiums are very cheap

• The policies are loaded with conveniences, such as third-party liability and coverage for owner/driver.

• 24x7 roadside assistance

• Optional coverage for non-electrical components, NCB discount and accident coverage for co-passengers

• A lower amount of policy-sponsored protection for both the vehicle and the owner due to lower premiums.

STANDARD

• This policy is midway between the basic and the premium plan

• Robust financial protection for the vehicle and the owner/driver

• Standard-sized premiums

• Options and features of ' Best Value' are ramped up in this policy

• Enhanced coverage for the vehicle and self

• Third-party liability coverage and various associated features.

FLEXIBLE PLAN

• The best and the highest available offering by Bajaj Allianz

• All the basic features are available, including own coverage, third-party liability, coverage against depreciation, etc.

• All coverages are enhanced and individually customized as well, to meet the customer’s specific needs.

• A complete plan, highly preferred by customers

• Slightly elevated premium pricing for all the convenient features

• Round the clock, comprehensive and quick assistance

Value-added Services by Bajaj Allianz Motor Insurance

VAS or Value-Added Services are advanced paid services offered by the company to its customers apart from the standard offerings. Bajaj Motor Insurance offers a number of such features that are more than just protection for the insured vehicle and its owner. These additional features improve the quality of the driving experience. These are the value-added services offered by Bajaj Allianz Car Insurance:

• 24x7 Spot Assistance Cover: Isn't the name self-explanatory? During emergencies like the vehicle’s mechanical or electrical breakdown, this additional cover can come in handy. Whether it's a dead battery, an empty fuel tank, flat tires, medical help or minor repairs - this additional feature can be very beneficial.

• Keys & Locks Replacement Cover: If someone misplaces or loses their vehicle’s keys, replacing it could be s costly and time-consuming affair. This cover, as its name suggests, accounts for the abovementioned replacement costs. Moreover, if the loss of the keys hints at security risks associated with a compromised lock, then this additional cover also refunds the expenses incurred in replacing the said locks. However, the benefits of this cover are available only once in the entire policy tenure.

• EEZEE Card: A simple play on the word ‘Easy’, these cards offer Bajaj Allianz Car Insurance’s loyal customers a range of exclusive benefits primarily pertaining to medical procedures. When policyholders renew their policies at the stipulated renewal notice price, they are considered eligible for the EEZEE card that offers discounts galore on medical expenses like surgeries, OPD visits, pathological tests, lenses and optical frames, dentistry, etc. The medical partners associated with Bajaj Allianz make sure that the customers receive the best medical consultation as well as in-depth examinations, as and when needed.

• Personal Care Policy: This cover applies only to the owners of vehicles manufactured by Skoda or Volkswagen, provided that these companies or NBFIs have financed the new car. This policy is inclusive of numerous thoughtful features, like personal accident cover and medical expenses cover. It also provides the provision of up to three EMIs if the owner suffers an accident and is unable to support such commitments on a temporary basis. It offers protection against financial liabilities (like unpaid EMIs) when the owner suffers an untimely death or is permanently disabled by accident.

New Initiatives

Bajaj Allianz is the first insurer to provide telematics-based insurance in India. These insurances focus on offering insurance at differential premium rates, computed based on the usage of the vehicle and the driving pattern of the vehicle owner. Bajaj Allianz uses a telematics device known as DriveSmart; it is a vehicle tracking system to monitor the usage of a vehicle. Additionally, the device also tracks the condition of the vehicle, including its engine and battery. The Telematics device works by combining the vehicle’s GPS with information technology. It can also help in tracking the vehicle’s location and keeping it safe.

Bajaj Allianz Telematics Insurance: features

• These are the features of the telematics insurance plan provided by Bajaj Allianz:

• The monitoring system diagnoses the vehicle's condition

• It helps good drivers in minimizing their insurance premiums by providing accurate data on the usage of the vehicle and their driving behavior

• The vehicle tracking feature helps in knowing and monitoring the location of the vehicle

• Helps in creating custom trips and also provides interesting information about the routes being taken

• Allows the vehicle owners/drivers to monitor their driving behavior.

• Notifies the driver while overspeeding or doing something that is detrimental to the vehicle

• Helps contact an automobile expert in case of a query regarding the car

Documents Required  For Bajaj Allianz Car Insurance Policy

• Application form - duly filled, with required signatures

• Recent Photograph

• Copy of Driving License

• Copy of the vehicle’s registration

• Copy of the vehicle’s current insurance status

• Proof of tax payments

• KYC documents (address and age proof)

• Other documents (as and when required)

If a customer decides to apply for the Bajaj Allianz car insurance policy online, the actual documents need not be submitted. In that case, the documents are to be submitted only when a claim is raised on the policy. Policies applied online are issued instantly; the hard copy of the policy document is couriered to the customer's registered address within seven working days. In the meantime, a digitally signed e-copy of the document is permanently available on the company's website.

Applying for or Renewing Bajaj Allianz Car Insurance Plans

The procedure for applying for and renewing a Bajaj Allianz car insurance policy has been simplified by technological advancement.  One can easily apply for a policy by visiting the company’s website. One may choose to either talk to an expert by providing their contact number in the online form or simply calculate the insurance premium independently with the help of the premium calculator available on the website. While applying for the insurance, one can activate the renewal reminder to make sure that they get the notification right before the policy’s expiry. The renewal process is also quite similar. The customer has to choose the product in the Bajaj Allianz website and then provide the necessary information. Once the required details are entered, the customer can pay the premium amount and continue with their policy.

Documents Required

While applying for the Bajaj Allianz Car Insurance, customers must submit the following documents:

Offline Application:

• Proof of registration certificate of the vehicle

• Proof of a valid certificate of insurance

• Proof of payment of tax

• Additional permits, if applicable

• P.U.C certificate

• Driving license

• Additional documents, if required

Online Application:

• No paperwork is initially required. The policy is issued instantly, with a digitally signed policy available 24x7 on the Bajaj Allianz website. The hard copy of the policy document is couriered to the customer's registered address within seven working days.

Liability-Only Motor Insurance Policy

The Motor Vehicles Act of 1988 by the Indian Government mandates that every vehicle plying on the road must compulsorily be covered by a basic third-party car insurance or third-party liability insurance. Such policies aren't designed to benefit the insured directly but provide protection against potential financial liabilities resulting from the vehicle’s participation in an accident that caused damage or loss of third-party property or even worse, cause death or permanent disability of a third-party individual. This is a crucial component of all primary comprehensive car insurance policies. It is readily available as a stand-alone cover as well.

Third-party car insurance from Bajaj Allianz account for the following:

• Accidental death or injury or permanent disability caused to third-party individual

• Accidental damage or complete loss suffered by a third-party property

Conversely, the Bajaj Allianz third-party insurance policy doesn't cover the following conditions:

• Damage or loss of property suffered by the insured, including damages to the vehicle and other property in general.

• Death of the insured person.

• Injuries suffered by the insured person.

Bajaj Allianz Car Insurance Premium Calculator

Bajaj Allianz provides an online car insurance premium calculator to helps customers in determining the premium amount they will be paying for their car. By calculating the insurance premium online, customers can compare the amount with other insurers in the market and accordingly opt for the best plan. This premium calculator helps one determine the premium amount easily without consulting an agent for a quote. The premium calculator tool is available on the Bajaj Allianz website. The following steps are involved in the process:

• Enter the vehicle brand and model
• Select the vehicle location
• Select the vehicle year
• Fill in all personal details, including phone number and email id
• Get a quote for the car insurance premium immediately.
• Pay the premium online to purchase the policy.

Raising a Claim On Bajaj Allianz Car Insurance

When these dreaded menaces like theft and accident befall your much-cherished car, here's how the Bajaj Allianz Car Insurance policy can be of assistance:

If the car suffers an unfortunate accident, do the following:

• Tow the car to the nearest garage, preferably a network garage

• Immediately contact Bajaj Allianz, explain the damage and register a claim.

• Provide the exact address of the garage in order for a Bajaj Allianz inspection team to visit the vehicle.

• Once the claim is confirmed, the garage will directly bill Bajaj Allianz for the repair costs. In case any additional repair work is done that isn't covered by the policy, the owner will have to bear such expenses.  

• If the repairs are done in a non-network garage, then the owner or the insured will have to initially settle the bill and then submit the same to the company for the suitable reimbursement.

If the car is stolen, do the following:

• Report the theft at a nearby police station immediately. Initiate an FIR.

• Contact Bajaj Allianz and report the loss.

• If the vehicle is missing past the 90 days marker, acquire the ‘Non-Traceable Report’ from the police station.

• Submit the report to Bajaj Allianz to raise a claim.

Contacting Bajaj Allianz Car Insurance to Initiate a Claim or to Report a Loss

• Dial any of the following numbers: 1800-22-5858, 1800-102-5858 (tollfree), 020-30305858 (chargeable) and provide the following information:

  • complete contact details,

  • the date, time and exact location of the accident or the theft,

  • a brief description of the incident,

  • the vital stats of the vehicle - engine and chassis number, registration document, date of registration, kilometers clocked by the vehicle

• Cases of accidents require the complete address of the vehicle’s resting location has to be submitted where an expert from the company will visit and inspect the vehicle.

• Receive a ‘Claim Reference Number’ after successfully submitting the claim.

• Henceforth, quote this number for all future interactions with the company in this regard.

Documents Required for Raising a Claim

Accident.	Accident.	Theft.	Third-Party Claim.
Claim form	Yes	Yes	Yes
Copy of the vehicle’s registration certificate	Yes	Yes	Yes
Copy of the owner’s/driver’s Driving License	Yes	Yes	Yes
First two pages of the original policy document	Yes	Yes	Yes
FIR Copy	Yes	Yes	Yes
Original repair estimate (as provided by garage)	Yes	Yes	-
Original repair invoice	Yes	Yes	-
Payment receipt (for cashless garage- only repair invoice)	Yes	Yes	-
Post 90 days, ‘No-Trace Report’ as issued by the police	-	Yes	-
RTO transfer papers duly signed along with Form numbers 28, 29, 30 and 35 (if hypothecated)	-	Yes	-

Important Terms of Bajaj Allianz Car Insurance

No Claim Bonus: If a customer has not claimed any insurance for a year, they receive a ‘No Claim Bonus’ which can be redeemed as a discount in the next premium

Insured’s declared value (IDV): It marks the current market value of the car by deducting its depreciation from the current selling price of the model by the manufacturer. The insurance premium is determined by this value. These are the depreciation rates mentioned to value the car:

• If the vehicle’s age is less than 6 months, then the rate of depreciation is 5%.

• If the vehicle’s age exceeds 6 months but within 1 year, then the rate of depreciation is 15%.

• If the vehicle’s age is over 1 year but with 2 years, then the rate of depreciation is 20%.

• If the vehicle’s age is in between 2 to 3 years, then the rate of depreciation is 30%.

• If the vehicle’s age is in between 3 to 4 years, then the rate of depreciation is 40%.

• If the vehicle’s age is in between 4 to 5 years, then the rate of depreciation is 50%.

• For vehicles aged above 5 years and if the model has become obsolete, then the IDV for the concerned vehicle is the price mutually decided between the customer and Bajaj Allianz.

Voluntary Access: The access to the cost of one's own damage that the customer is going to bear. Customers will be entitled to the following discounts on their own damage premium:

• For a voluntary deductible amount of Rs.2500, customers receive a 20% discount on their own damage premium, subject to a maximum amount of Rs.750.

• For a voluntary deductible amount of Rs.5000, customers receive a 25% discount on their own damage premium, subject to a maximum amount of Rs.1500.

• For a voluntary deductible amount of Rs.7500, customers receive a 30% discount on their own damage premium, subject to a maximum amount of Rs.2000.

• For a voluntary deductible amount of Rs.15,000, customers receive a 35% discount on their own damage premium, subject to a maximum amount of Rs.2500.

Compulsory Access: It refers to the amount of loss or the cost of damage that the insurer has to bear compulsorily. The rates are:

For a private vehicle that doesn’t exceed 1500 cc, Rs.1500 is the amount deductible.

For a private vehicle that exceeds 1500 cc, Rs.2000 is the amount deductible.

For motorized two-wheelers, Rs.100 is the amount deductible

Renewal of policy: A car insurance policy has to be renewed after every 12 months as the yearly validity expires

FAQs

What does Bajaj Allianz Car Insurance add-on cover mean?

Bajaj Allianz gives the policyholders several options of enhancing protection for their vehicle against a more exhaustive range of dangers and unforeseen circumstances besides those already covered by a standard car insurance. These coverages can be purchased by paying an additional premium and are therefore known as 'add-on' covers.

What is the process of settling a claim for Bajaj Allianz car insurance?

If your car has met with an accident, then these steps can help in raising and settling a claim:

• Inform the insurer about the accident promptly.

• In case the accident has caused a huge damage to the car, then notify Bajaj Allianz before moving the vehicle from the accident site to enable ‘spot inspection’ of the damaged car.

• Intimate Bajaj Allianz about the vehicle’s insurance policy number along with the date, time and venue of the accident.

• The vehicle can be taken to a Bajaj Allianz authorized garage to determine the estimation of repair charges.

• Once Bajaj Allianz receives a duly filled insurance claim form and estimation of repairs and its cost, the company will initiate a thorough examination of the car to detect the extent of the damage. Accordingly, Bajaj Allianz will pay the repair cost to the garage directly.

If an insured car is stolen, then these steps must be followed:

• Intimate Bajaj Allianz within 24 hours of the incident.

• Visit the nearest police station and file an FIR within 24 hours.

• Submit a photocopy of the FIR to the insurer.

• An inspector/investigator from the company will examine the vehicle to gauge the truth in the claim.

• All relevant documents pertaining to the claim form will be collected in order to process the claim.

How to settle a Bajaj Allianz Car Insurance claim if a third-party injury has been made by the insured vehicle?

• The injured person(s) should be admitted to the nearest hospital immediately

• An FIR about the accident has to be filed at the closest police station and a copy of the FIR must be safely retained.

• No financial settlement or compensation promises should be made to the affected third party by the policyholder on behalf of Bajaj Allianz.

• Bajaj Allianz must be immediately informed about the accident caused by the car and the damage to the third party.

What are the different benefits of Bajaj Allianz car insurance?

• Smooth and hassle-free settlement of claim.

• Protection against legal issues and financial loss.

• Package policies providing enhanced protection to the vehicle. Coverage against physical damage, death or bodily injury, third-party liability, legal liability, etc,

• Additional security for protection against loss, damage, calamities and theft.

• A cashless claim settlement at more than 1500 authorized garages

• Simple and fast policy purchase and renewal process provided online.

• 24X7 customer care service on all 365 days

How to renew a Bajaj Allianz Car insurance policy?

A Bajaj Allianz Car insurance policy can be easily renewed online by providing the previous/existing car insurance policy number along with some other required details. Once you make the payment, the policy will be renewed. However, this process has to be done before the expiry of the policy.

What is Bajaj Allianz Car Insurance depreciation?

Cars are depreciating assets - their value decreases with the passage of time. This is called depreciation. The claim settlements of insured cards are affected by the depreciation of the car. Owners can pay the extra premium to enjoy Bajaj Allianz Car Insurance zero depreciation add-on cover.

What is No Claim Bonus (NCB) in car insurance? Is it offered by Bajaj Allianz car insurance policies?

No claims bonus denotes the duration (number of years) for which the policyholder has gone without making an insurance claim on the car insurance policy. ‘No Claim Bonus’ can be redeemed as a discount in the next year's premium.

What is car insurance voluntary excess?

It is an option given to policyholders to choose a certain amount of loss that they are willing to bear from every claim.

Can an active car insurance policy be transferred to the new owner when the car is sold?

Yes, one can transfer the insurance to the buyer’s name if a car is sold. The buyer has to apply for the transfer of the car insurance with Bajaj Allianz within 14 days after the date of transferring the registration of the car to the name of the new owner. The payment of endorsement premium has to be made for the leftover policy period before transferring the insurance to the new owner's name.

Does Bajaj Allianz Car insurance provide coverage against natural calamities?

Bajaj Allianz car insurance policies cover the loss or damage caused to the insured vehicle from natural calamities like –

• Fire

• Explosion

• Self-ignition

• Earthquake

• Lightning

• Hailstorm and frost

• Landslide

• Rockslide

• Flood, hurricane, typhoon, storm and cyclone

Which human-made disasters are covered by Bajaj Allianz Car Insurance policy?

Bajaj Allianz car insurance policy covers the loss or damage caused to vehicles from the following man-made reasons –

• Theft and burglary,

• Theft and burglary

• Accident by external means

• Riots and strikes

• Acts of terrorism and other malicious acts

• Damage caused in transit by road, rail, air, elevator, etc.

Does Bajaj Allianz Motor insurance provide third party insurance cover?

Yes, third-party insurance or liability insurance cover for vehicles is compulsory as per the Indian Motor Vehicles Act.