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Bajaj Allianz Two Wheeler Insurance Policy

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.

 

Key Features and Benefits

  • Own damage

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

  • 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 tow-wheeler.

  • 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.

  • Optional extensions

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

Bajaj Allianz Two-Wheeler Insurance Plans

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 bike 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 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 if in case of an accident. Additional coverage for the pillion can be obtained separately. However, one must note that the premium paid for comprehensive package policy will be comparatively higher than the own damage cover for a similar amount of the IDV because the former offers a more extensive coverage.

Bajaj Allianz long term Two-Wheeler Insurance

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, Personal Accident Cover of Rs. 15 lakh for the Occupants to improve the scope of coverage.

Benefits of Bajaj Allianz Long Term Two-Wheeler Insurance

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.

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

Inclusions of Bajaj Allianz long term insurance

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.

Exclusions of Bajaj Allianz long term insurance

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 happened for not following the regulations as 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

Online renewal process of Bajaj Allianz Two-Wheeler Insurance

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, current policy expiry date and proceed further. Customers will then receive a notification on the registered mobile number once the payment is made.

Factors affecting Bajaj Allianz Two-Wheeler Insurance premium

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

  • Insurance type
    Your bike 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 as per the make and model, and it plays a vital role in deciding the premium. If you are purchasing insurance for a low-cost bike, the premium shall be affordable compared to a high value imported motorcycle. If you avail of Bajaj Allianz bike insurance for your two-wheeler, in that case, 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 that much more affordable, increasing as the engine size rises.

How to Purchase the Policy

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 ‘Buy now’.

Eligibility Criteria

The eligibility criteria needed to buy this Two- Wheeler Package Policy are:

  • Vehicle registered in your name

  • Registration Certificate (RC)

  • Valid driver’s license

  • Pollution Under Control (PUC) certificate

    List of documents to buy the policy

    The following mandatory documents are required to buy the bike insurance policy:

     
    • Details about your vehicle including registration number
    • A valid driver’s license
    • Completed claim form
    • Bank details
    • Tax receipts
    • Filled insurance forms.

    How to Process the Claims

    Those looking to ensure a seamless claim processing journey, here are a few simple steps that you need to undertake:

    Reach us instantly by call our 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
    • Kilometer 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 any 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 us.

    Survey and Claim Settlement

    • Submit the copy of documents to your preferred garage/dealer and have them tallied with the originals.
    • Is the damage not too severe? Only got a cracked windshield or a bumper that has come off loose? In that case, we suggest you let our Motor OTS (On-The-Spot) service take over.
    • We will repair your vehicle (within X working days) at a network garage of your preference, deliver it 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 not only secure your vehicle but also avail a host of other add-ons such as Roadside Assistance too.

    Documents Required for Filing Insurance

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

    For Accidental Damage:
     

    • Claim form duly filled and signed by the insured
    • Proof of insurance Policy / Cover note copy
    • Copy of Registration Book, Tax Receipt
    • Copy of Motor Driving License of the person driving the vehicle at the time
    • Police Panchanama/FIR (In case of Third-Party property damage /Death / Body injury)
    • Estimate for repairs from the repairer 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


    For Theft Cases:
     
    • Claim form duly filled and signed by the insured
    • Original Policy document
    • Original Registration Book/Certificate and Tax Payment Receipt
    • Previous insurance details - Policy No, insuring Office/Company, a 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
    • Letter of Subrogation
    • Consent towards agreed claim settlement value from you and Financer
    • NOC of the Financer if the claim is to be settled in your favor
    • Blank and undated "Vakalatnama"
    • Claim Discharge Voucher signed across a Revenue Stamp

    Major Policy Exclusions

    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 bike not being used as 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.

    Why buy Bajaj Allianz Two-wheeler Package Policy?

    Bajaj Allianz Two-wheeler Package Policy protects 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.

    Claim/Assistance Contact Details

    Toll free number –  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


    *For claim related issues please refer your policy document or certificate of insurance (COI)

    What is the process for Bajaj Allianz Two-wheeler Insurance renewal?

    What is a No Claim Bonus or NCB under Bajaj Allianz Bike Insurance?

    The NCB or No Claim Bonus is a benefit the insurance provider offers for not initiating any claims within a policy year. The Bajaj Allianz 2-wheeler insurance provides vehicle owners with a discount of up to 50% on the Own Damage cover premium for not registering any claims for five consecutive policy years.

    If you plan to switch your insurance provider or purchase a new vehicle, you can still receive your NCB reward. Therefore, you can get an affordable premium quote if you have collected your NCB over the years.

    What is the process for Bajaj Allianz Two-wheeler Insurance renewal?

    Individuals can complete the Bajaj Allianz bike insurance renewal process online in two simple steps:

    • Step 1 - Fill in the basic details such as policy number and the expiry date of your current policy

    • Step 2 - Get your renewal quote and make the required payment. Besides, you can also get long-term cover to provide you relief against annual renewals

    Why should I buy Bajaj Allianz Two-wheeler Insurance?

    Having a two-wheeler insurance is essential to stay financially secured in case of any damages suffered due to natural or man-made disasters. It provides the following advantages:

    • Get coverage for medical expenses incurred due to an accident
    • Get coverage against repairing and replacing cost of vehicle parts
    • The policy provides financial security against theft, fire, and natural disasters

    Bajaj Allianz Two-wheeler Package Policy secures 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.

    What are the steps to make a claim under Bajaj Allianz Two-wheeler Insurance?

    You can file a claim under Bajaj Allianz Two-wheeler Insurance through these simple steps:

    • Call on the toll-free number 1800-209-5858 and provide the following details:
    1. Contact number
    2. Engine and chassis number
    3. Date and time of the accident
    4. Description and location of the accident
    5. Vehicle inspection address
    6. Kilometer reading
    • Submit copies of all relevant paperwork to the dealer or garage and have them confirmed against the originals
    • Once confirmed, your claim would be settled or reimbursed by Bajaj Allianz

    Can I make claims of small amounts?

    Yes, you can make claims of any amount. However, it is advised not to make claims for less than the value of your No Claim Bonus (NCB) because you'll lose your entire NCB. Making a claim, on the other hand, is recommended if the NCB you stand to lose in the next year is less than the claim value.

    How to reduce the premium of Bajaj Allianz Two-Wheeler Insurance?

    In order to reduce the premium of the Bajaj Allianz Two-wheeler Insurance, keep a track of your No Claim Bonus over the course of five years and convert the total into a discount on your premium. Alternatively, you can choose a voluntary excess or voluntary deductible amount wherein you pay some portion of the sum insured from your pocket; which will help you to reduce your premium.

    What is the cancellation process of the Bajaj Allianz Two-wheeler Insurance Policy?

    Visit the nearest branch office in your city and submit the insurance documentation as well as a completed surrender form. The applicable premium amount would be refunded, and the policy would be cancelled after a few days.

    Disclaimer

    Bajaj Finance Limited (BFL) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Co. Ltd, ACKO General Insurance Co. Ltd., Niva Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company Limited, and Manipal Cigna Health Insurance Company Limited under the IRDAI composite registration number CA0101.

    Please note that BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely voluntary after you exercise independent due diligence on the suitability, viability of any insurance product. Any decision to purchase an insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. This product provides insurance coverage under the Two-Wheeler Package Policy under UIN: IRDAN113RP0026V01200102. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions, and exclusions please read the product sales brochure carefully before concluding a sale.

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