| Bajaj Allianz Car Insurance | SBI General Car Insurance | HDFC ERGO Car Insurance | Acko Car Insurance |
| Bajaj Allianz Bike Insurance | SBI General Bike Insurance | HDFC Ergo Bike Insurance | Acko Bike Insurance |
Motor insurance is a financial cover that protects you and your vehicle in case of accidents, theft, or loss incurred due to man-made and natural calamities, but it should not feel like an upkeep formality that you buy for your vehicle. While third-party motor insurance is made mandatory as per the Motor Vehicles Act of 1988, it is also very important that the policy needs to fulfil all your motor insurance-related requirements.
Just like you try to buy the best vehicle in the market, why not do the same when buying motor insurance? Be it a new or used vehicle, having a motor insurance plan that safeguards your precious possession is a must. Your insurance provider must not only be trustworthy but also needs to provide maximum benefits at affordable premiums. To fulfil your needs for a good motor insurance policy, Bajaj Markets presents to you, extensive motor insurance plans. With benefits like 24x7 assistance, quick claim settlement, cashless facility across network garages, and more, you need not worry about uncertain vehicle damages.
Our Partners
Bajaj Allianz General Insurance Co.
With a great expertise in the insurance sector, Bajaj Allianz General Insurance Co. brings to you, extensive insurance plans that are designed to fit your diverse needs. Their insurance expertise marrying Bajaj Markets’ digital approach further offers you convenience, & great value for money!
Acko General Insurance
Acko General Insurance Ltd. with its unique approach that marries technology with insurance, brings to you new-aged Acko Car Insurance plans that are well-designed to fit into your needs and budget too! From customization to affordability, you always have more.
HDFC ERGO General Insurance
HDFC ERGO offers one of the best motor insurance plans in India. With a smooth application process and prompt customer service, it makes for a go-to choice for the customers. Bajaj Markets brings to you HDFC ERGO Motor Insurance plans which even let you enjoy hassle-free claim processes and complete claim assistance, etc.
On Bajaj Markets you can get yourself complete financial security for your bike and car with the two types of motor insurance–
When it comes to picking the right insurance plan, it is vital to understand the keep a check on your needs and what you require the coverage for. Going through the features and benefits of the plan further help make a well-informed decision, when it comes to selecting the plan. Broadly, motor insurance plans are of two types:
- Third Party Motor Insurance
- Comprehensive Motor Insurance
Third-party Motor Insurance
A third-party motor insurance is the most basic policy offered, which takes care of the third-party damages incurred due to your vehicle, when in an accident. The plan not just covers the third-party vehicle damage, but also takes care of the treatment cost of injuries caused to a third-party. As the third-party motor insurance is made mandatory as per law, the plan has gained major significance.
Comprehensive Motor Insurance
Along with third-party liabilities and damages, the comprehensive plan offers 360-degree coverage with cover of own damage too. This means, any damage incurred to third-party as well as your vehicle or any bodily injuries incurred when your vehicle is involved in an accident is covered under your plan. When it comes to comprehensive vs third party insurance, comprehensive is a bit more expensive than a third-party cover, however, a comprehensive plan is the most recommended one for its all-round protection.
While comparing motor insurance plans, it is best to choose the plan by keeping the following things in mind:
Type of Coverage
The motor insurance should be chosen by keeping in mind the type of coverage you get. As per your need, select from third-party or comprehensive coverage, so you get better value for money.
Claim settlement Ratio
Assess the claim settlement ratio of the insurer to understand the capability of settling claims, to be sure of being majorly covered against damages.
Features & Benefits
While making a motor insurance purchase it is vital to read about the features of the product and the benefits offered by the plan.
Budget
While you do so, don’t forget to keep a check on the plan that best fits your budget.
Key Things to Consider When Buying Vehicle Insurance
- What is the Claim Settlement Ratio of the insurance provider?
Claim settlement ratio (CSR) indicates how many claims an insurer has settled with regards to the number of claim requests received.
- Does the insurance provider offer No Claim Bonus (NCB)?
This is an important factor when it comes to calculating your motor insurance premium. NCB is linked to the policyholder and not the vehicle insured nor the insurance provider. If you have not made any claim and decide to renew your policy with a new insurance provider, you should be eligible for NCB. Motor insurance plans on Bajaj Markets offer NCB benefit of up to 50%!
- What constitutes a good motor insurance policy?
Knowing what's covered in your policy and what's excluded will help determine your motor insurance provider. Also, knowing what comes as an 'add-on' is equally important. We offer extensive benefits that includes coverage for damages caused to your vehicle due to natural calamities, man-made disasters and more.
1. Comprehensive Motor Insurance – Inclusions
The things covered under your comprehensive motor insurance are as follows –
Accidental Damage
Third-party liability
Damage caused due to riot and strikes
Damage or Loss due to Fire and theft
Damage caused due to Flood, earthquake, landslides, storm, cyclone, etc.
2. Comprehensive Motor Insurance – Exclusions
Every policy has its limitations. Things that are not covered under motor insurance are as follows –
War-like situations
Riding/driving with invalid driver’s license
Damage caused when you are under the influence of intoxicants
When the vehicle is used for illegal activities
When the vehicle is damaged outside the stated geographical area
Normal wear and tear of the motor components
Buying motor insurance at Bajaj Markets is simpler than you think! Just follow these five simple steps.
Choose the kind of coverage you need
Fill the application form – personal details and vehicle details
The insurer will assess your application, and the documents will be verified
Pay your premium amount online
Motor insurance will be issued to you in no time
Much like buying motor insurance online, renewing it at Bajaj Markets is quick and simple too!
Visit us at Bajaj Markets online.
Enter the previous policy details.
Enter personal and vehicle details.
Pay the premium amount online.
The renewed policy will be issued to you immediately, and you can reap its benefits
Register a Claim
In the event of an accident or theft of your car, you would have to register a claim as early as possible. You can do this online by visiting the page here or over the phone by dialing our Toll free number - 1800-209-5858, post which you will be connected to the customer care executive will assist you through the complete Car Insurance claim process Use the link below to inform your insurer and register your claim.
Click here to register your claim
Documents Required
Please keep the following information handy while registering a claim:
Engine and Chassis Number
Accident date and time
Description and location of the accident
Car inspection address
Km. reading
Police complaint, in case of theft
Please note that in case of theft, you would need to file a police complaint as soon as possible, so that when you are registering a claim with us you are able to produce the same, along with the other documents.
Vehicle Repair
Whether your car is vandalized, meets with a collision, or gets damaged by some peril, you would need to take it to the garage, if it is in a movable condition, or have a towing van help you get it towed to avoid further damage.
Claim Settlement
You will have to submit the copies of all the required documents to the garage/dealer who is helping you with your Vehicle Insurance claim and get them verified with the originals. Following which, we will make the payment for the repair directly to the network garage once it is ready to be sent back to you. Do make a note that you will have to bear the excessive expenses as per the norms mentioned in your insurance policy, which include salvage, depreciation amount, etc. which will be informed to you by our surveyor.
Motor Insurance Document Checklist
Line to redirect customers to links category.
Motor Insurance Claim Forms
Need further assistance? Reach out to us on 020-66399444 ( Mon to Sat - 10 am to 6 pm )
Keep your vehicle safe with Motor Insurance which assures you instant policy issuance at affordable premiums. With a vast network of cashless garages across all major cities, Motor Insurance Plans at Bajaj Markets helps you drive dent-free no matter where the road takes you! Have a look at our range of motor insurance plans across a variety of brands and models you can choose from.
Check Out Motor Insurance Partners Available at Bajaj Markets
Add-on Covers in Car Insurance
- Consumable Cover in Car Insurance
- Return to Invoice Cover in Car Insurance
- Own Damage in Car Insurance
- Temporary Car Insurance
- Engine Protection Cover in Car Insurance
- Add-on Covers in Car Insurance
- Car Insurance Claim
- Car Roadside Assistance
- Cashless Car Insurance
- IDV In Car Insurance
- NCB in Car Insurance
Top Car Brands
- Tata Car Insurance
- Hyundai Car Insurance
- Mahindra Car Insurance
- Maruti Car Insurance
- Honda Car Insurance
- BMW Car Insurance
- Audi Car Insurance
- Kia Car Insurance
- Datsun Car Insurance
- Mercedez Benz Car Insurance
- Skoda Car Insurance
- Volkwagon Car Insurance
- Toyota Car Insurance
- Nissan Car Insurance
- Renault Car Insurance
- Volvo Car Insurance
Top Car Models
- Tata Ace Insurance
- Mahindra Bolero Pik-up Insurance
- Maruti Suzuki Vitara Brezza Insurance
- Toyota Fortuner Insurance
- Mahindra XUV 700 Insurance
- Maruti Suzuki Alto 800 Insurance
- Maruti Suzuki Swift Insurance
- Maruti Swift Dzire Car Insurance
- Mahindra Scorpio Insurance
- Mahindra Thar Insurance
- Maruti Suzuki Ertiga Insurance
- Kia Seltos Car Insurance
- Tata Punch Insurance
FAQs on Motor Insurance
You sure have invested a lot of money into buying your dream four-wheeler or two-wheeler, haven’t you? Given the conditions of the roads in India, coupled with traffic congestion and a rise in road mishaps, insurance provides you with the necessary financial coverage against vehicle damage, theft or accidents. Apart from this, motor insurance takes care of any potential damage, injury or unforeseen incident that could affect yourself, your fellow passengers, drivers and pedestrians. This said, do note that Indian road laws make it mandatory for one to have third-party insurance.
Indian traffic laws make it mandatory for vehicles to have third-party liability insurance in place. As part of this plan, you are only covered against injuries and damages that you may have caused to others. A comprehensive insurance plan on the other hand takes into consideration injuries caused to yourself and as well as others. In other words, this motor insurance plan covers both ‘own damage’ as well as ‘liability’.
We use our motor insurance calculator to calculate the best online motor insurance premium taking the following factors into consideration:
- Vehicle engine cubic capacity,
- Vehicle age (how old your two-wheeler/four-wheeler is)
- Geographic location/zone
- Vehicle model and,
- IDV or Insured Declared Value.
In simple words, ‘No Claim Bonus’ is a benefit provided to the insured given that he/she has not made any insurance claims under a prior policy period. This accrued benefit gets accumulated over time. With the motor insurance plans on Bajaj Markets, through NCB, you can get discounts that range from 20-50% on premiums for own damage thus helping you save on motor insurance.
You can, however, the vehicle type and class must be the same. When transferring NCB, please keep the following points in mind:
- Transferring of vehicle ownership when you sell your old two-wheeler/four-wheeler is mandatory. Also, for insurance purpose, keep a photocopy of this new entry in your RC book.
- Get your insurance company to send you an NCB certificate/holding letter which is valid for a period of 3 years.
- Upon purchase of your new vehicle, get NCB transferred to the new policy.
Upon lapse of your car/bike insurance policy, you need to produce your vehicle for inspection. Post this, your motor insurance policy will be renewed. However, do keep in mind that if you have NCB in place but fail to renew your motor vehicle insurance policy within 90 days of it lapsing, it will get reduced to zero.
Sure, you can! With Bajaj MarketsS, all you need to do is fill out a new proposal form and follow protocol. This may include vehicle inspection and any other formalities that may surface. You can do this online, anytime and anywhere!
Changes made to your motor insurance policy can be made through endorsements (written evidence). Endorsements can be made during the time of policy issuance to incorporate additional covers/benefits like legal liability for the driver of the insured vehicle or impose policy restrictions. The wordings used in such endorsements are directly provided by the insurer. In addition to the above, endorsements can also be used to document changes in name, address, vehicle, etc. You can raise a request for such changes by visiting the ‘Contact Us’ page on the website. Alternatively, you can copy-paste the following link to your device search bar and access the page directly: https://www.bajajfinservmarkets.in/contact-us.html.
Incidents that result in injury to self or a third party, vehicle theft or third-party property damages need to be reported to the police immediately.
Let us segregate this to understand this better. Cashless Claims: Under this facility, charges related to vehicle repairs are paid to the garage directly from the insurance company. However, to avail this facility, the insured vehicle must be repaired at one of partner/network garages. Non-cashless/reimbursement: Suppose you end up having your vehicle repaired at a garage that is not part of our network, you will have to pay the charges. Post this, you can claim reimbursement for the amount by providing original payment receipts/bills.
First things first, don’t panic. Get a hold of the situation and proceed to report this immediately to the police. Post that, get in touch with us on our Toll-Free Number - 1800-209-5858.
Sure, you can transfer your car insurance policy or bike insurance to the person who purchases your vehicle. However, you need to inform the insurance company in writing about this insurance policy transfer. Post this, you will have to fill in a new proposal form, pay a fee to facilitate the transfer and NCB recovery on a pro-rata basis dated from the day of transfer till the expiry of the policy. You must also make note that this entire process must be recorded/done within 14 days from the transfer date else the insurance company will not be liable to pay any claim for own damage caused to the insured vehicle.
The term ‘Deductible’ refers to any excess payment/amount over and above the claim payable by the insurance company. This amount ranges from Rs. 50 for two-wheelers to Rs. 500 for cars/four-wheelers/commercial vehicles. The increase in amount depends upon the vehicle carrying capacity. In some cases, the insurance company may charge an additional excess which is calculated basis the age of the vehicle and if there are many claims made for the same.
IDV is the abbreviation for Insured’s Declared Value and refers to the current market value of the vehicle. This refers to the maximum sum assured that is fixed by the insurance company and is only provided in the event of vehicle theft or loss of the vehicle. IDV is calculated basis the selling price listed by the current manufacturer minus the depreciation percentage.
Maintaining a claim-free record results in a No Claim Bonus which helps to reduce your vehicle insurance premium. Upon accumulation of NCB, you can avail of a discount on the Own Damage Premium of your vehicle. In addition to this, if you have an anti-theft device installed in your vehicle and the same has approval of the Automotive Research Association of India, you can avail of a discount of Rs. 500. You can also make use of voluntary excess to reduce your premium. This means you opt to bear the loss of a certain amount from each claim made.
Let us understand this with an example. Let’s say you have met with an accident and the cost of repairs amounts to Rs. 5000, you will need to pay some of the amount (assuming its Rs 1000). This amount is calculated based on the vehicle carry capacity and is known as compulsory deductible.
Under this provision, you are provided with coverage against Permanent Total Disablement (PTD), Accidental Death, terrorism and any such acts that may arise out of terrorism.
‘Own Damage’ or OD Premium entitles the policy holder to make a claim for compensation in the event of damage caused to the vehicle due to earthquakes, fires, etc. One can also claim for compensation in the event of vehicle theft.
Also known as ‘zero dep’ or bumper to bumper cover, zero depreciation policy offers complete coverage without factoring in the depreciated value of the vehicle. In simpler words, should your car get damaged due to an accident/collision, with zero depreciation in place, the insurance company will pay the policyholder the entire cost claimed during settlement. This is an add-on feature offered by motor insurance providers and the premiums charged are more than what one would pay for a regular, comprehensive motor insurance policy. At present, we do not offer zero/nil depreciation cover However, with a standard car policy, only 50-100% of the expenses (for replacement of damaged car parts - plastic, fiber and/or metal) is provided by the insurance company. Replacing such parts can be expensive especially when you don't have zero depreciation cover.
You will receive your customer portal login credentials when the policy is issued. Also, if you happen to forget your password, you need to login to the customer portal (https://www.bajajfinservmarkets.in/cust/#/) using your registered email ID and click on the 'Forget Password' button. We will then send you a link to reset your password.
Given that the entire process is online, yes, you can. However, this is only possible if your insurance policy has not yet expired.
Third-party liability is a benefit offered by us that covers the following risks - 1. Accidents resulting in the injury/death of the third-party, 2. Damages resulting in damages caused to the third-party, and 3. Any such liability that is a result of the death of the third-party or if the injury that is stated is unlimited.
Yes. Head over to the ‘Motor Insurance’ section on Bajaj Markets to get enhanced coverage for your vehicle.
As per the Motor Vehicles Act of 1988, it is mandatory to have a valid motor insurance for your vehicle to legally drive on Indian roads. So, if you just pay the road tax and don’t have a motor insurance for your vehicle, you may be fined upon being caught.
Having a motor insurance plan with third-party cover is mandatory according to the Motor Vehicles Act.
User Reviews and Testimonials on Our Motor Insurance Policies
Best vehicle insurance in the market
Once my vehicle insurance policy got expired and inspection was required for motor insurance renewal, the executive arrived the next day and the policy was issued within hours!
Arun
A trusted source for two wheeler insurance
Motor insurance online booking experience is very seamless, especially if one is renewing the motor insurance policy it is the most hassle-free process and it got done in few clicks and few minutes.
Aditya
The insurance plan was customer friendly
I applied for a vehicle insurance and the overall experience was quite commendable. I have recommend motor insurance on Bajaj Markets to my friends and family members too.
Vaibhavi
Easy Insurance Process
Executive provided complete information and explained every detail as per my requirement. Portal was simple and easy to use. Way to go Bajaj Markets!
Arun Kumar A
Got my motor insurance in no time
I availed the Bajaj Allianz motor insurance for my Baleno, through the fast and easy online process of Bajaj Markets. I must say, the services provided are brilliant!
Aditi Iyer
Best Motor Insurance available!
With affordable premium rates and benefits like 24X7 on-call support, the Motor Insurance is the best policy I have found so far!
Radha Deva
Perfect Plan for complete coverage
With the recent increase in penalties for breaking traffic rules & vehicle insurance getting mandatory, I started looking for a comprehensive motor insurance online. I instantly got the Motor Insurance as it seemed a reliable choice with the extensive network garages and great add-on covers available.
Rama D
Great Platform
When I was looking for motor insurance online, the features and add-on covers with Bajaj Allianz vehicle insurance seemed great. The purchasing process is also very quick and easy. Happy with Bajaj Markets!
Dipika Saha
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