Car Insurance FAQs

Frequently asked questions

Can I renew my car insurance policy online?

Yes, you can easily renew your car insurance policy online. Also, you can get a no claim bonus or NCB incase you have had a claim free year when you renew your policy on time.

Bajaj Finance Limited partnered with top insurers like Bajaj Allianz General Insurance Company and ACKO General Insurance and offers a 100% digital platform to buy car insurance policies. You visit the Bajaj Finance Insurance Mall to buy a comprehensive car insurance policy online that suits your requirements.

Can I buy car insurance online?

Yes, you can buy a car insurance policy online easily and quickly. You just need to provide your details and information about the car to obtain a quick quote for getting your car covered.

Bajaj Finance Limited offers a 100% digital process to buy a car insurance policy. These policies offer you comprehensive coverage against any loss or damage caused to your own vehicle or the third party and also cover personal accidents.

Check the plans offered here

Why do I need a car insurance policy?

A car insurance policy is important to stay financially equipped in case of any accident or damage caused to your vehicle or a third party. Nonetheless, having a third-party car insurance policy is mandatory if you are driving on the roads in India. You can easily buy a car insurance policy online. Here's why it's a must.
• As mentioned above, it is mandatory by law. Under the Motor Vehicles Act, 1988, it is illegal to drive on Indian roads without third-party liability car insurance.
• It covers unexpected expenses in case of an accident that causes damage to your vehicle and your medical expenses if you have a personal accident cover in your policy.
• It gives financial coverage in case of physical injury, death or loss of property caused to the third party.
• Comprehensive car insurance policies also come with add-on covers like zero depreciation cover and engine protection cover, which can help you get full coverage during claims, and roadside assistance cover in case of any breakdown. More add-on covers are available, which you may avail of as per your requirements.

What are the benefits of buying car insurance online?

Buying car insurance online is hassle-free and a lot more convenient. Imagine collecting physical brochures from different insurance companies and then manually comparing them to buy car insurance. You can avoid this exhausting task by simply buying car insurance online. Most of the insurance companies now offer car insurance policies online.
Read to know how it helps you.
• Easily compare policies from premiums to sum insured and coverages offered in a policy online
• Read the customer reviews, share information, or ask questions directly to the insurance company
• Saves your time and effort from looking for good car insurance policies offline
• Download your policy copy online immediately
With Bajaj Finance Limited, you can easily apply online and make the payment from your preferred modes of payment like UPI, net banking, credit card or debit card.

Are offline and online car insurance policies the same?

Yes, offline and online car insurance policies are the same. Purchasing car insurance online is easy and convenient. On buying the four-wheeler insurance policy online, your insurance provider will send an email of your policy document on your registered email ID.

Where can I check my car insurance policy details?

You can check the car insurance information from the provided policy documents. You can also verify the policy details by logging into the insurer's website by simply filling in these details.
• Policy number
• Start and end date of the policy
• Type of policy (comprehensive, own-damage, or third-party insurance)
• Number of the engine and the chassis
If you have bought a car insurance policy from Bajaj Finance Insurance Mall, you can check the policy details on the Bajaj Finserv App or go to the My Account section on the website.

What is an endorsement?

An endorsement is written documentation of the car insurance policy that states the changes in the policy agreed between the insurer and policyholder. It's a document that reflects any additions made in the terms that adjust the car insurance policy coverage.
This document is essential and mentions all the key points that the car insurance policyholder should note.

What is a voluntary deductible?

A voluntary deductible is an amount the policyholder agrees to pay voluntarily in case of a claim. On opting for the voluntary deductible, you can also benefit from a discount on the premium paid towards the policy. The greater the voluntary deductible amount, the greater the discount on the premium.

What do I gain if I do not claim when the damage is minimal?

If you don’t file any claims in a policy year, you will accumulate a percent of the No Claim Bonus. Every motor insurance company offers a No Claim Bonus for every claim-free year. This bonus is given as a reward to the policyholder, and the insurer will provide you with a discount on your premium. You can get up to 50% of the No Claim Bonus.

How can I cancel my claim?

You need to contact your respective car insurance policy provider to cancel a claim. They will guide you regarding the cancellation process. 

Will the claim be valid if I lodge my claim after the vehicle insurance policy expires for the event during the policy term?

No, in such scenarios, your vehicle damage claim will not be valid. The insurer addresses only claims that occur and are made during the active policy period. With the expiration of an insurance policy, an insurer bears no responsibility for reimbursing any damages to your vehicle during the policy tenure. Hence, submitting a claim after the expiry of the policy is futile.

In a year, how many times can I apply for a claim?

In a year, you can initiate as many claims as you want. However, the total claim amount for damage caused to your vehicle cannot exceed the coverage amount mentioned in the policy document.

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