Types of Insurance Available
When looking to buy or renew Bajaj Allianz two wheeler insurance, you can choose from among two main plans available:
Third-Party Insurance Plan
A third party insurance plan is a basic insurance plan that all vehicles need to have, as per the Motor Vehicles Act, 1988. This insurance plan provides financial coverage related to medical and repair expenses to the third party involved in an accident. This type of insurance does not provide any kind of coverage to the policyholder or their vehicle.
Comprehensive Insurance Plan
A comprehensive insurance plan provides enhanced coverage to the policyholder and their vehicle, apart from also providing third party coverage. In case you are involved in an accident, comprehensive coverage will provide you protection against financial losses related to treatment of injuries, vehicle repairs and also provide for the liability to the third party involved in the accident.
Apart from these two types of plans, you can also choose to buy add-on covers for specific coverages on top of your comprehensive insurance coverage.
Add on Covers
Some add on covers you can buy on top of your Bajaj Allianz two wheeler insurance policy include:
Personal Accident Cover
Legal Liability Cover
Inclusions Under the Bajaj Allianz Two Wheeler Insurance Policy
Damages caused by fire outbreaks, lightning strikes, earthquakes, floods, typhoons, hurricanes and landslides and other such natural calamities.
Burglary/theft and damages caused to your two-wheeler due to communal riots and other such malicious acts.
Covers the rider as well as the pillion person from injuries sustained due to an accident.
Accidents can result in damages to your two-wheeler and/or permanent disability/death of a person. Choose two-wheeler motor insurance to stay protected against legal liabilities that arise out of such incidents.
Repairing a damaged vehicle is costly. Add to that the replacement of a particular two-wheeler component (e.g. engine) and the expenses are bound to be sky high. With certain additions on your two-wheeler insurance, you are covered for such expenses.
Exclusions Under Bajaj Allianz Two Wheeler Insurance
In case you raise a bike insurance claim for damage incurred by your vehicle, the insurer will not cover it in the absence of a driving licence. If the loss was incurred while you were riding the two-wheeler without a valid licence, you have to take care of the costs from your own pocket.
Insurance providers will not compensate you for the damage incurred by your bike while riding under the influence of alcohol or drugs. Furthermore, to avoid unfortunate mishaps, it is advised to not drink and drive.This will not just put your life at risk but your insurance plan also won’t cover the expenses in such cases.
Your bike insurance policy does not include coverage for damage caused due to overspeeding. Thus, it is recommended to drive within the speed limit specified on the road.
In case you stage an accident or if the insurer finds the claim fishy, the insurance provider will not cover any losses caused to the vehicle.
Another bike insurance claim that will be denied by the insurance provider is theft due to misplacement of keys. In case you lose the keys of your vehicle or you accidentally leave them on the bike and it gets stolen, your claim will mostly be rejected.
Any mechanical or electrical breakdown will not be covered by the insurance company. Thus, you must regularly check your two-wheeler for safety purposes. Moreover, ensure you go through the policy documents to understand the terms and conditions of the plan.
If your bike gets damaged due to an uprising in your country, the insurer will not cover the expenses. This also includes loss resulting from war, mutiny, terrorism, riots or any other political instability.
Any loss or damage to your two-wheeler that occurs while driving outside the geographical area mentioned in the policy will not be covered. Thus, ensure to read the fine print and ride within the specified limits.
Every two-wheeler insurance plan has a fixed tenor during which your vehicle is secured. Once your policy expires, you must renew the bike insurance to gain coverage against unfortunate incidents. In case you do not renew the plan and it lapses, you lose the bike coverage as well. After policy expiry, the insurer will not cover any damage incurred by your vehicle.
When purchasing two-wheeler insurance, you need to mention the names of all the individuals who might ride your bike. This is because the loss caused to your vehicle by an unauthorised driver will not entitle you to file a claim.
Make sure you do not use your two-wheeler for commercial purposes without informing your insurer as it might lead to rejection of your claim. Any damage caused due to such activities will not be covered.
It is vital to wear your helmet while riding your bike to safeguard yourself from unforeseen incidents. Moreover, loss resulting from not wearing your helmet can enable the insurer to deny your insurance claim.
How to Register a Claim for Two Wheeler Insurance
You can follow the given steps to register a claim for two-wheeler insurance:
Step 1: In case you get into an accident, you should immediately take it to a garage to examine the amount of damage caused.
Step 2: In case of theft of your vehicle, immediately file an FIR at the nearest police station and secure a copy.
Step 3: Contact the insurance company and register a claim with them by providing all relevant information such as details of the incident, your policy number and details, a copy of FIR, etc.
Step 4: Once your claim has been registered, you will be given a Claim Reference Number that can be used to track the status of your insurance claim.