Bajaj Allianz Two-Wheeler Insurance

After purchasing your two-wheeler, it is important to stay prepared for any contingencies by choosing the right insurance policy. The right two-wheeler insurance policy can help you get covered against the financial risks of out-of-pocket expenses. Bajaj Allianz General Co. Ltd. Bajaj Allianz Two-Wheeler Package Policy is one such two-wheeler insurance policy that covers losses arising due to unfortunate accidents.

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  Own damage

  This policy covers the damages done to your two-wheeler due to accidents, natural disasters, technical glitches, and malfunctions. The Bajaj Allianz Two-wheeler Package Policy covers losses caused due to fire, explosion, self-housebreaking or theft, riot and strike, earthquake, floods, terrorist activity, accidents while travelling by road, rail, inland waterway, lift, elevator or air, landslide/ rockslide.

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  Liability to third parties

  The Bajaj Allianz Two-wheeler Package Policy covers your legal liability arising out of bodily injury to and/or property damage of third parties caused due to accidents damaging your two-wheeler.

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  Personal accident cover

  In the unfortunate event of your (owner-driver) death and/or permanent total disability arising out of an accident while travelling in your two-wheeler, we will pay the specified sum insured to you/your legal heir nominated under this policy.

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  Optional extensions

  The Bajaj Allianz Two-wheeler Package Policy will cover the optional extensions mentioned below:
  • Loss of accessories
  • Legal liability to paid driver, cleaner, or any workman
  • Personal accident cover for occupants

In the general insurance market, Bajaj Allianz is one of the leading insurance providers that offer various plans with exclusive features and benefits. The general insurance category has different Bajaj Allianz two-wheeler insurance plans, including Comprehensive and Own Damage insurance policies.

The two-wheeler insurance policies extended by Bajaj Allianz allow individuals to get financial coverage against any own damage, third-party liabilities, accidents, injuries, and more. Its comprehensive insurance policy structure provides financial coverage against personal accidents as well. Let's discuss the various Bajaj Allianz bike insurance plans:

• Own damage cover
  Own damage Cover offers protection against any harm, injury, or damage caused to the rider or driver in case of an accident. This insurance policy from Bajaj Allianz is designed to protect your financial interests if you happen to meet any unforeseen circumstances.


• Comprehensive package policy
  This Bajaj Allianz Two-wheeler Insurance is a full-packaged policy that comprises third-party liability and personal damage cover. It covers any injury experienced by you or damage to your vehicle due to an accident, theft, or any other reason.

Besides, this insurance policy also offers a personal accident cover. It provides financial coverage to the rider or owner of the two-wheeler in case of an accident. Additional coverage for the pillion can be obtained separately. However, one must note that the premium paid for a comprehensive package policy will be comparatively higher than the own damage cover for a similar amount of the IDV because the former offers more extensive coverage.

The long-term insurance policy is effective for the vehicle owners as it keeps the vehicle insured throughout.

One of the primary advantages of this policy is that it needs to be renewed only once in the tenor. Hence, you pay the premium only once. Moreover, irrespective of the damage caused to the vehicle, this insurance policy provides financial coverage for any claim made by a third party. Bajaj Finance Limited is a registered partner for this Bajaj Allianz insurance company, and the latter offers various add-on covers like loss of accessories, legal liability to paid driver, cleaner, or any workman, and personal accident cover of Rs. 15 lakh for the occupants to improve the scope of coverage.

According to the Insurance and Regulatory Authority of India (IRDAI), after 2015, insurers could provide long-term insurance policies for a maximum of 3 years. The benefits of this long-term insurance plan are:

• The Bajaj Allianz Two-wheeler Insurance Policy can be extended for more than three years with minimal impact on the third-party premium.


• With Own Damage cover, one can get financial coverage for any damage to your two-wheeler for a year.


• During renewal, additional benefits such as NCB can be acquired for not filing any claims during the policy term.

A long-term Bajaj Allianz bike insurance will cover you against:

• Any unfortunate incident of accident or theft.


• Financial coverage for your insured vehicle against any damage or loss during natural calamities.


• Third-party liability coverage safeguards your financial interests from injury, death, or accidental damages.

Following is the list of exclusions of the Bajaj Allianz two-wheeler insurance plan:

• Any loss or damage caused out of the geographical area included in the policy


• Any loss or damage due to not following the regulations per the Motor Vehicle Act, like driving without a license


• Any claim made out of the contractual liability


• Regular wear and tear or depreciation


• Any mechanical or electrical breakdown

According to the laws stated in the Motor Vehicle Act, riding your two-wheeler without an insurance policy is illegal in India. Moreover, it can incur a substantial monetary loss in case of any mishap.

Therefore, after purchasing a policy, it is essential to renew it periodically to ensure continued protection. With Bajaj Allianz two-wheeler insurance renewal online process, individuals can purchase a policy or renew it in a few steps, within seconds.

To begin the Bajaj Allianz insurance renewal process online, individuals need to provide their basic details, existing policy number, and current policy expiry date to proceed further. Customers will then receive a notification on the registered mobile number once the payment is made.

Here are the factors affecting the premium of a Bajaj Allianz two-wheeler insurance:

• Insurance type
  Your two-wheeler insurance premium will be decided based on the type of insurance plan you purchase. Both Own Damage cover and Comprehensive policies have respective benefits. Therefore, one must choose the one that suits their long-term requirements.


• Make and model
  The vehicle's value is set per the make and model, and it plays a vital role in deciding the premium. If you purchase insurance for a low-cost two-wheeler, the premium shall be affordable compared to a high-value, imported motorcycle. If you avail of a Bajaj Allianz two-wheeler insurance, Bajaj Allianz will set the premium for your vehicle within a specific range.


• Vehicle's age
  Another reason that impacts your insurance premium is the age of your vehicle. If your two-wheeler is old, its market value will be lower. In addition, due to your vehicle's increasing age and wear and tear, it is more susceptible to damage. Hence, the premium amount will be higher. The insurance provider may also carefully examine and analyse your vehicle before approving a policy.


• Engine's capacity
  The premium amount of your vehicle is directly proportional to the engine's capacity. If the engine's cubic capacity is lower, your premium is more affordable, increasing as the engine size rises.

You can follow these simple steps to buy this policy:

• To apply for the product, click on 'Apply Now' and fill in the necessary details in the application form.
• Make the fee payment online using your preferred mode of payment.
• Fill in your name and mobile number.
• If required, opt for a call back from our representatives or complete the process by clicking on 'Buy Now'.

The eligibility criteria needed to buy this two-wheeler package policy are:

• Vehicle registered in your name


• Registration certificate (RC)


• Valid driver's licence


• Pollution Under Control (PUC) certificate

The following mandatory documents are required to buy this two-wheeler insurance policy:

• Details about your vehicle, including registration number
• A valid driver's licence
• Completed claim form
• Bank details
• Tax receipts
• Filled-in insurance forms

There are a few simple steps that you need to take in order to ensure a seamless claim processing journey. You can reach the insurer instantly by calling the toll-free number 1800-209-5858.

Please provide these basic details:

• Contact number
• Engine and chassis number
• Date and time of the accident
• Description and location of the accident
• Vehicle inspection address
• Kilometre reading

Send in your vehicle for repair
Move your vehicle to the garage from the accident spot (in case of an accident) or have it towed to avoid further damage.
Should your vehicle not be found within 90 days, ask the police to issue a non-traceable report (an undertaking that they are yet to find your vehicle) and hand over the report to the insurer.

Survey and claim settlement

• Submit the copy of documents to your preferred garage or dealer and have them tallied with the originals.
• If the damage isn't too severe, or if you only have a cracked windshield or bumper that has come off loose, it is suggested that you let the Motor OTS (On-The-Spot) service take over.
• The insurer will repair your vehicle at their network garage of your preference, deliver your vehicle to your doorstep, and pay the garage directly.
• You will only have to pay the excesses (as mentioned in the policy) and the depreciation value (as informed by the surveyor).
• With Bajaj Allianz Motor Insurance, you can secure your vehicle and avail of a host of other add-ons such as roadside assistance.

The following are the documents required for filing the two-wheeler package policy:

For accidental damage
 

• Claim form duly filled and signed by the insured individual
• Proof of insurance policy/ cover note copy
• Copy of registration book and tax receipt
• Copy of motor driving licence of the person driving the vehicle at the time
• Police panchanama/ FIR (in case of third-party property damage/ death/ bodily injury)
• Estimate for repairs from the garage where the vehicle is to be repaired
• Repair bills and payment receipts after the job is completed
• Claims discharge-cum-satisfaction voucher signed across a revenue stamp
• Miscarriage, Abortion and C-section deliveries Sexually transmitted diseases such as AIDS and HIV.
• Refer the policy document to know more exclusions in detail

• Claim form duly filled and signed by the insured individual
• Original policy document
• Original registration book/ certificate and tax payment receipt
• Previous insurance details, including policy number, insuring office/ company, and period of insurance
• All the sets of keys, service booklet, warranty card
• Police panchanama/ FIR and final investigation report
• Acknowledged copy of a letter addressed to RTO intimating theft and making vehicle "NON-USE"
• Form 28, 29, and 30 signed by the insured individual
• Letter of subrogation
• Consent towards agreed claim settlement value from you and the financer
• NOC of the financer if the claim is to be settled in your favour
• Blank and undated vakalatnama
• Claim discharge voucher signed across a revenue stamp

The BAGIC Two-wheeler Package Policy excludes the following points:
 

• Any loss or damage caused outside the geographical area
• Any loss or damage arising out of your two-wheeler not being used per the limitations to use
• Any claim arising out of any contractual liability
• Any consequential loss

Refer to the policy brochure to know further exclusions in detail.

The Bajaj Allianz Two-wheeler Package Policy secures your two-wheeler against physical damage, third-party liability, injury, and theft. It provides a complete insurance policy that also covers personal injury. The claim settlement procedure for Bajaj Allianz Two-wheeler Insurance Policy is quick and simple, making it an excellent pick.

Toll free numbers: 08698010101/ 1800-209-0144/ 1800-209-5858

E-mail:  wecare@bajajfinserv.in

Mailing address: 4th Floor, Bajaj Finserv Corporate Office, Off Pune-Ahmednagar Road, Viman Nagar, Pune – 411014