Bajaj Allianz Two-Wheeler Insurance

About Bajaj Allianz Two-Wheeler Insurance

Of the plans available in the market, Bajaj Allianz bike insurance plans are worth noting. This is because the insurance provider i.e., Bajaj Allianz General Insurance has established itself as a trusted insurer. Their plans have been designed to meet the diverse needs that customers have. Further, to add to their appeal, cashless claim settlements are not only efficient but are also considerable. With such a plan, it is possible to lessen the financial burden you might experience in the unfortunate event that you have an accident involving your vehicle.

Why Buy the Bajaj Allianz Bike Insurance Policy

By owning a Bajaj Allianz 2-wheeler insurance plan, you no longer need to worry about having to finance the sudden bike damage your two-wheeler may incur owing to an accident. Listed below are some of the many reasons why such an insurance plan ought to be purchased.

• Round-the-Clock Call Assistance

If you have any questions pertaining to your claim settlement, or else have other concerns, you can reach out to Bajaj Allianz’s two-wheeler insurance customer care. Phone calls are accepted at all times of day and night throughout the year including holidays.

• No-Claim Bonus Transfer

 No claim bonus discounts are applicable to premiums and amount to up to 50% at the time of policy renewal. This feature alone makes for a viable reason as to why this policy ought to be purchased.

• Bike Inspection Not Needed

At the time of the Bajaj Allianz two-wheeler insurance renewal online, your insurer will not inspect your vehicle again. This is, of course, provided your policy is renewed prior to the expiry date kicking in.

• Coverage Provided for 3 Years

If you invest in a Bajaj Allianz long-term insurance plan for your two-wheeler, you aren’t burdened with the worry of having to renew your policy on an annual basis.

• Savings in the Long Run

Another positive aspect associated with long-term two-wheeler bike insurance provided by Bajaj Allianz is that it saves you a fair sum of money. This is owed to the fact that premium rates and service taxes vary on an annual basis. However, as a policy term applies for a period of three years, these changes don’t impact your plan.

• No-Claim Bonus Benefit

In the event that you make a claim on your long-term bike insurance policy, while your no-claim bonus might reduce, it will not drop to a value of zero.

• Widespread Network Garages

Get access to over 6,500 network garages across the country.

Benefits of Buying Bajaj Bike Insurance Plan

Listed below are some of the many benefits associated with the purchase of a Bajaj Allianz two-wheeler insurance policy.

1. Instantaneous Claim Settlement

The Motor On-the-Spot service ensures that claim settlements are instantaneous and fulfilled within 20 minutes.

2. Customer Support

Customer care assistance is available via email as well as telephone and is accessible 24/7. Instant SMS services including those related to claim assistance are also available.

3. Savings on Premiums

If you don’t happen to make a claim while your policy term is active, you can take advantage of the no-claim bonus. This bonus allows you to save up to 50% on premiums at the time of your policy being renewed.

Types of Bike Insurance Plans Offered by Bajaj Allianz

Curious to know what the different types of bike insurance plans offered by Bajaj Allianz are? If so, you have come to the right place.

1. Bajaj Allianz Two-Wheeler Insurance Third-Party Liability Cover

As you might be aware, third-party vehicular insurance serves as the rudimentary form of vehicular insurance. In the case of two-wheelers, third-party bike insurance is the most basic bike insurance plan. It serves to cover the costs associated with damages caused by your bike to the third party involved. The Motor Vehicles Act of 1988 outlines the necessity for all bike owners to possess a valid bike insurance plan in order to ride on Indian roads. If you happen to lack a valid bike insurance policy you could be charged with a penalty and may even be imprisoned. The value of the cover such a policy provides lies in the fact that it can be used against any third-party damage or loss caused by your bike in an accident. Bajaj Allianz third-party bike insurance policies are available on Bajaj Markets.

2. Comprehensive Cover

In the case of a two-wheeler insurance plan that provides comprehensive coverage, you benefit from an all-inclusive package that provides coverage in case of third-party damages. However, in addition to this, you also benefit from coverage directed towards damages that you and your bike incur. Accidents, theft and loss owed to natural as well as human-made disasters involving your two-wheeler are provided with coverage under such an insurance plan. Further, you are provided with a personal accident cover. While possessing such an insurance plan isn’t a legal requirement, it is recommended that you gravitate to this rather than a third-party coverage plan. This is because such a plan provides more coverage and allows you to ride your vehicle with greater peace of mind.

3. Bajaj Allianz Long-Term Bike Insurance Plan

Long-term option in Bajaj Allianz's two-wheeler insurance is beneficial for people who forget/struggle hard to renew their policy on time every year. The insurance company offers two types of tenure - a 2-year bike insurance policy and a 3-year bike insurance policy to the customers in which it covers and compensates for all types of damages and losses incurred to the bike. The policyholder will have to renew the vehicle insurance only once after two or three years.

Available Plans under Bajaj Allianz Two-Wheeler Insurance Policy

Check out the table below to find different types of plans available under Bajaj Allianz two-wheeler insurance policy -

What's Covered/ Not Covered in the Bajaj Allianz Two-Wheeler Insurance Plan

The Bajaj Allianz two-wheeler insurance policy covers and compensates the damages and losses incurred to the two-wheeler, however, the coverage/compensation is granted by the insurance company after evaluating the situations or scenarios in which the damage/loss was incurred to the vehicle. 

What’s Covered in the Bajaj Allianz Two-Wheeler Insurance Plan 

• Loss or Damage owed to Human-Made or Natural Calamities - Any damage caused to the vehicles due to natural calamities like earthquakes, cyclones, floods, etc. or man-made calamities like fire, chemical explosions, etc. will be compensated by the insurance company.

• Theft or Loss of the Motorbike in Question - Bajaj Allianz's two-wheeler insurance policy will cover theft or loss of the vehicle or parts of the vehicle.

• Personal Accidental Coverage - The insurance plan also offers personal insurance cover to the vehicle owner of up to Rs. 15 lakhs.

• Third-party Legal Liabilities - Bajaj Allianz's two-wheeler insurance policy will render compensation to the third party for any damages or personal loss in an accident.

What’s Not Covered in the Bajaj Allianz Two-Wheeler Insurance Plan 

• Repair and Replacement Expenses - The repairing and servicing that needs to be done due to its regular usage is not covered in the Bajaj Allianz two-wheeler insurance policy.

• General Wear and Tear - The wear and tear of the vehicle parts like tubes, tyres, etc. will be partly compensated by the insurance company as per its norms and conditions.

• Non-Accidental Breakdowns - Any damage or loss caused to the vehicle that is intentional or non-accidental will not be covered by the insurance company.

• Illegal Driving - Any damage or accident caused by the vehicle owner under the influence of drugs or alcohol will not be covered under the Bajaj Allianz two-wheeler insurance policy.

• Driving Without Necessary Documents - Bajaj Allianz's two-wheeler insurance policy does not cover penalty charges borne by the vehicle for not carrying necessary documents.

Discounts offered under Bajaj Allianz Two-wheeler Insurance

Bajaj Allianz two-wheeler insurance policy offers a variety of discounts to the policyholders apart from compensation for the loss and damages incurred to the vehicles -

• No Claim Bonus (NCB)

No- Claim Bonus are points that are earned by the policyholder if they do not claim for the insurance throughout the policy tenure. These points are cumulative and help the policyholder to earn a discount on the policy premium. Check out the table to understand the increase of discount percentage via NCB points -

• Voluntary Discounts

Bajaj Allianz's two-wheeler insurance policy offers an additional discount on the premium as voluntary deductibles if the policyholders make a part payment of the claim from his end.

• Security Devices

The insurance company offers a discount on premiums if the policyholders install security devices like anti-theft devices to ensure the security of the vehicle.

• Membership Discount

The Automobile Association of India members can avail of premium discounts on Bajaj Allianz’s two-wheeler insurance policy.

Advantages of Buying Bajaj Allianz Two-wheeler Insurance Plan

Some of the advantages of buying a Bajaj Allianz two-wheeler insurance plan that a policyholder enjoys are -

• Simple and fast procedure of settling the insurance claims to deliver a hassle-free experience to the policyholders.

• Cashless settlement facility for the damage/ loss repairs from the partnered garages. In cases, where a cashless settlement facility is not opted by the policyholder, 75% of the amount is reimbursed to their account.

• Online purchase or renewal option for Bajaj Allianz two-wheeler insurance plan to save precious time for the policyholder.

• A dedicated team of customer care executives available 24*7 for complaints, queries, or grievance redressal.

• Timely reminders about premium payments, policy renewal, etc. are sent to the policyholder via SMS

Optional Extensions of  Bajaj Allianz Two-wheeler Insurance Plan

The policyholder can opt for some extensions by paying a little extra in the premium amounts of Bajaj Allianz two-wheeler insurance plan -

• Loss/ Damage to the Accessories

• Accidental Coverage for the occupants in the vehicle

• Personal Liability Coverage for the employees like a driver, cleaner, etc.

Bajaj Allianz Bike Insurance Claim Process

The policyholder can follow the steps mentioned below to claim for the  Bajaj Allianz two-wheeler insurance policy -

• Registration of the Event with the Insurance Company

In case of accidents, the first step of action for the vehicle owner is to take it to a garage for repairing of the damaged parts and inform the insurance company. If the vehicle is stolen, then the vehicle owner should file an FIR for theft at the police station and inform the insurance company. In situations, where the vehicle is not traceable even after 90 days, a Non-Traceable Report is generated by the police authorities. The report is then submitted to the insurance company to initiate the claim process.

• Initiating the Claim

The insurance company will commence the claim process where details regarding the vehicle like engine number, chassis number, policy details, etc. will be required. It is advisable to keep all the documents related to the vehicle handy to avoid any delay in the procedure. Once the paperwork is completed, a claim reference number will be issued to the policyholder which will help the policyholder track the status of their claim with the insurance company.

• Settlement of the Claim

The insurance company officials will survey and verify the series of events from their end. Upon verification, the claim amount will be released for settlement.

Documents Required for Bajaj Allianz Bike Insurance Claim

Here is a list of documents that policyholder will require to make a claim for  Bajaj Allianz two-wheeler insurance policy -

Accidental Claims

• Signed copy of the Claim Form by the policyholder

• Original vehicle registration certificate of the vehicle

• Driving Licence

• A copy of the  Bajaj Allianz two-wheeler insurance policy 

• Copy of FIR or Motor Collision Report

• Invoice of the repair and payment receipt 

Theft/ Burglary Claims

• Signed copy of the Claim Form by the policyholder

• Original vehicle registration certificate of the vehicle

• Driving Licence

• Original and duplicate set of keys

• A copy of the  Bajaj Allianz two-wheeler insurance policy 

• Copy of FIR

• Copy of Non-Traceable Report

Third -Party Liability Claim

• Signed copy of the Claim Form by the policyholder

• Original vehicle registration certificate of the vehicle

• Driving Licence

• A copy of the  Bajaj Allianz two-wheeler insurance policy 

• Copy of FIR

Factors Affecting Bajaj Allianz Two Wheeler Insurance Premium

There are various factors that affect the premium of the  Bajaj Allianz two-wheeler insurance policy -

• Vehicle’s Age

The age of the vehicle is one of the crucial determining factors of premium payment amount. If the vehicle is old, the risks of incurring damage are higher, leading to higher premium amounts.

• Market Value of the Vehicle

The premium amount also takes the market value of the vehicle model into consideration. Luxury or exclusive models will have higher premium amounts in comparison to economic vehicle models.

• NCB Points

NCB points can be used as discounts in the premium payments of the insurance policy by the policyholder. 

• Security Devices

Installation of any additional device that enhances the security or safety of the vehicle, is rewarded by the insurance company in the form of premium discounts.

• Membership Benefits

Members of the Automobile Association of India can also avail of discounts on the premium of Bajaj Allianz’s two-wheeler insurance policy.

• Vehicle Modifications

Modifications or adjustments in the vehicle that alter or change the original specifications can lead to a hike in the premium amount.

Eligibility Criteria for Bajaj Allianz Two Wheeler Insurance

Here are some basic eligibility parameters that one needs to fulfil to purchase a Bajaj Allianz two-wheeler insurance policy- 

• Vehicle should be registered in the name of the applicant.

• Vehicle registration certificate should be issued.

• The applicant should have a driving licence.

• Pollution Control Certificate is issued for the vehicle.

How to Calculate Premium for Bajaj Allianz Bike insurance

Calculating what the premium on your Bajaj Allianz bike insurance plan will amount to has never been easier. The Bajaj Markets website has a special bike insurance premium calculator which can be used to understand what your premium is. Using this calculator is easy, fast and hassle-free. Listed below are the steps needed to be followed to use it.

Step 1: Start by keying out important details pertaining to your motorbike such as its registration number along with your mobile number.

Step 2: Next, confirm whether or not your existing policy has expired.

Step 3: Provide additional details oriented towards your bike such as its model and make, the fuel it utilises and more.

Step 4: Now, choose between a third-party liability coverage plan or a comprehensive coverage plan.

Step 5: After having provided your details, you can proceed.

Step 6: Now, your screen will display the premium tethered to the Bajaj Allianz bike insurance plan you wish to purchase.

Contact Details

If you wish to get in touch with the Bajaj Allianz team at any point in time, you may do so via its customer care service which allows for a smooth customer experience.

• Phone - Insurance-related claims can be attended to via the customer care number which is 1800 209 5858

• WhatsApp - Customer care is also available on WhatsApp at +91 75072 45858

• Email - In case you wish to email customer support, reach out on bagichelp@bajajallianz.co.in

Additionally, the Bajaj Markets team is geared towards serving you better. If you wish to connect and discuss your Bajaj Allianz bike insurance plan, you can reach out in the following ways.

• Email – insuranceconnect@bajajfinservmarkets.in

• Customer Care Portal – https://www.bajajfinservmarkets.in/cust/#/

• Smartphone Application – The Bajaj Markets app also enables you to manage your account and track applications.

Conclusion

As established above, the importance of owning a valid bike insurance plan cannot be sufficiently stressed. Apart from being a legal requirement, this form of insurance helps provide you with financial coverage should you end up having an accident involving your two-wheeler. The perfect place to gain insights into viable two-wheeler insurance plans currently available in the markets is the Bajaj Markets website. Head over to this website to understand the finer details pertaining to a host of such insurance plans and take advantage of the premium calculator whose services can be rendered for free.