Bharti AXA Car Insurance Overvie
Bharti AXA General Insurance Company Limited is a joint venture between Bharti Enterprises, which is a reputed Indian business group and AXA, which is a world leader in financial protection and wealth management. The company started its operations August 2008 and within the first year itself, it received dual certifications of ISO 9001:2008 and ISO 27001: 2005. It is the first organization dealing in general insurance that has received these two certifications in the very first year of operations. These certifications were subsequently renewed in the year 2012 for three more years. Car insurance offered by the company falls under the category of Motor Insurance plans offered. Car insurance plans, as mandated by the law, are offered with extra additions at the discretion of the customer who can make additions to increase the scope of coverage extended on his car.
Bharti AXA Car Insurance Policy Overview
|Bharti AXA Car Insurance||Coverage|
|Third Party Coverage||Up to 7.5 lakhs|
|Personal Accident||Up to Rs. 2 Lakhs|
|Damage to Own Car||It offers cashless garages services at 1600+ network garage|
|Sudden Illness||Up to Rs. 10,000|
Advantages of availing Bharti AXA Car Insurance plans
The organization of Bharti AXA received two international certifications within its first year of operations, both of which were again renewed for three years in 2012. This remarkable achievement demonstrates the organization’s focus on quality, customer relationships and the simplification of the claims process. Today the organization is a preferred brand in the insurance industry. Car insurance is important as it protects the customer against damages that has been caused to their vehicle or a third party in case there is an accident. Bharti AXA is a leading choice in India for car insurance. The Bharti AXA Car Insurance Plan is an ideal plan for those customers looking for a simple yet scalable car insurance plan provided by a highly responsive and robust private motor insurance company. Given below are the advantages of buying car insurance plans from Bharti AXA:
- Subscribing to a new car insurance plan from Bharti AXA or renewing an old one is a hassle-free process.
- The company specializes in servicing of claims and their settlement in the fastest possible time. The policy plans are issued with the least amount of time spent on time and documentation.
- A comprehensive car insurance plan is offered by the company which covers for both third party legal liability and own damage liability under the same plan. Moreover, a host of additional covers are also available under the plan some of which are free while an extra premium is required for others.
- There are add-on covers available like Depreciation cover, Invoice Price Cover, Medical expenses cover, etc.
- There is a facility of cashless claim settlement across over 2000 authorized network of garages.
- The insurance plan can be bought or renewed online through an easy and fast application process. The customer simply has to visit the company’s website and choose ‘motor insurance’ tab under which car insurance plan and commercial vehicle insurance plan is offered under different categories.
- Depending on the number of claim-free years, the customer will be entitled to a No Claim Bonus of up to 50%. In case the customer is transferring a car insurance policy for the first time to Bharti AXA Insurance, they can be sure that the company will retain the number of claim-free years that has accumulated under the previous policy.
- Availability of 24*7 customer support so that all customer queries and concerns are taken care of expeditiously.
Features and benefits of Bharti AXA Car Insurance plans
The features and benefits of the car insurance plans provided by Bharti AXA General Insurance are discussed as under:
- Car Insurance plans are offered for Private Cars
- The policy is provided to the customer instantaneously with the least amount of time and effort spent, and with minimum documentation as well
- There is a vigorous cashless claim settlement across the country at Bharti AXA Insurance certified chain of workshops/garages, which amounts to 2000 plus such garages
- The claim assistance facility is provided to customers on all days of the week at all hours, i.e., 24*7. The claim assistance is provided by a highly trained and professional team of customer support specialists
- Applying for the car insurance has never been easier with online application for the same. With just a few clicks, a customer can purchase a Bharti AXA car insurance online, with no need to submit documents or for verifications.
- The company provides free and timely reminders to the customer for the policy to be renewed
- Add-on covers under the plan which can be opted by a customer may be taken in order to enhance the coverage of the car insurance plan
Bharti Car Insurance Plans:
Scope of coverage under Bharti AXA Car Insurance
There are two levels of coverage provided by Bharti AXA Car Insurance. One is a Basic cover plan to meet the comprehensive liabilities that arise from accidents and the other is an enhanced cover plan, Basic + Roadside Assistance.
The following contingencies are covered for in both the basic and enhanced car insurance plans offered by Bharti AXA:
- Loss or damage to the car due to natural calamities like fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.
- Loss or damage to the car due to man-made causes like burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity.
- Any damage while the car is in transit by road, rail, inland waterway, lift, elevator or air
- A Personal Accident cover is provided to the driver or owner of the vehicle while driving the vehicle, in case of death or permanent total disability. The coverage under the plan is provided for, up to an amount of Rs.2 lakhs.
- A third party legal liability cover is provided which includes legal protection from death or injury claims from third parties due to damages causing a permanent injury or death of a person and damage caused to the surrounding property including occupants of the vehicle, cost and expenses incurred without the prior consent of the company and personal accident benefits for the proposer, paid driver and the occupants of the vehicle.
The following contingencies are covered in case the enhanced cover option is chosen:
- On road repairs will be covered
- Towing services are covered
- Charges for the change of tyres are covered
- In case of a lost key or lockout
- Emergency fuel is covered
Add-on covers on Bharti AXA Car Insurance
By paying an additional amount of premium, a customer can opt for additional Add-on covers in the base plan to enhance the coverage on the vehicle. The following five types of additional covers are available under the Car Insurance plans offered by Bharti AXA General Insurance:
- A depreciation cover may be provided that has coverage of up to 5 years from the registration date, 100% repayment on replaced items, the repair costs batteries, airbags, nylon covers, fiber glass and tyres, payment of depreciation amount, which is the value deducted on the replaced parts for up to 2 years of admissible claims.
- An Invoice Price cover may be availed, in case of its loss, where the compensation is equal to insured value + registration + road tax + insurance.
- The customer has the option to purchase an additional personal accident add-on cover for the passengers. The coverage that is provided is for a maximum amount of Rs. 1 lakh per person in case of death or permanent total dismemberment.
- An additional cover may be purchased by the customer for covering the medical expenses of the driver and the passengers in the car.
- A hospital cash cover may be availed in which a daily limit of up to Rs. 10,000 is given, subject to a maximum of thirty days of hospitalization
Additional features provided by Car Insurance Plans offered by Bharti AXA Insurance
- A discount on premiums is provided for installing an anti-theft device as well as voluntary deductibles.
- A No-Claims Bonus of up to 50% is given upon renewal.
- There is a network of up to 2000 plus garages that is associated with Bharti AXA. The claims at these authorized garages are completely cashless.
The Insured Declared Value or the IDV of the car is fixed by Bharti AXA as follows:
- Up to 6 months – 5%
- 6 months to 1 year – 15%
- 1 to 2 years – 20%
- 2 to 3 years – 30%
- 3 to 4 years – 40%
- 4 to 5 years – 50%
Exclusions under Bharti AXA car insurance plan
- The natural and general aging of the vehicle, which results in wear and tear, is not covered by the Bharti AXA Car insurance plans.
- The car insurance plans of Bharti AXA Insurance are valid for the use of the car within the country only.
- If the car is being driven without a driving license, it is recognized as a cognizable offence. Hence, the company will not accept any claims for accidental damage or liabilities that are caused by drivers without a valid license at the time of the accident.
- The company urges its customers to never drive while they are under the influence of alcohol, drugs or any intoxicants. Therefore, the company will, not accept any claim for accidental damages or liabilities that are caused by drivers while under the influence of drugs, intoxicants or alcohol.
- The car insurance plan that is provided by Bharti AXA Insurance is strictly for private use only. Therefore, if the vehicle is being used for purposes such as reward or hire, carriage of goods, pace making, organized racing, speed testing, reliability trials and for use in motor trade; and if accidental damages or liabilities occur, then the company will not be entitled to cover the damages and liabilities.
- The car insurance plan provides coverage to the customer for damages to the vehicle that have occurred as a result of accidents only. The company will not cover any expenses that occur due to electrical or mechanical breakdown.
- If there is loss or damage that occurs to the vehicle due to nuclear fission or radioactive contamination, the company is not entitled to cover it.
Bharti Axa Car Insurance Premium Calculator
The company provides the facility of premium calculation to prospective individuals seeking to buy car insurance plans form the company. The premium depends on a number of categories like the model of the car, the year of purchase, year of registration, city of operation, sub-model of the car, Insured Declared Value (IDV), etc. The following are some of the instances where the premium has been calculated using the company’s calculator:
- A wants to apply for a Car Insurance Plan for himself. He has a new vehicle, a Honda Accord purchased in the month of June 2015,the amount of total premium works out to be Rs.37,800.
- B wants to buy a plan for his new car and so he approaches a Bharti AXA General Insurance representative for the same. The premium for their car insurance plan for their new Fiat Palio car purchased in the month of August 2015 comes to Rs. 11, 097.
- C wishes to purchase a car insurance plan for his new Audi Navi Edition car, which he purchased in the month of October 2015. He wishes to cover up to 5 passengers for an amount of Rs. 2 lakhs each. The premium charged is Rs. 66, 240.
The table tabulates the above data for an instant reference
|Applicant||Type of Vehicle||Insured Declared Value (Rs.)||Premium (Rs.) + Tax (Rs.)|
|A||Honda Accord 1.6 A/T||443750||14494|
|B||Fiat Palio 1.2||526154||21685|
|C||Audi A-4 1.8 TDI Navi Edition||3188218||74558|
Bharti AXA Car Insurance – FAQs
1. What kinds of discount can be availed under car insurance policies by Bharti AXA?
The 2 major forms of discount offered under car insurance policies by Bharti AXA are No Claim Bonus and Voluntary Deductible. Further discounts can also be availed by installing anti-theft devices in your car subject to approval by ARAI (Automotive Research Association of India).
2. Is direct claim settlement offered under Bharti AXA Car Insurance Policies?
Yes, direct claim settlement facility is available under Bharti AXA Car Insurance. Bharti AXA has a tie-up with a big network of motor workshops. A policyholder can enjoy direct claim settlement at any of these workshops spread across the country.
3. Is the claim procedure for add-on covers different from the standard claim settlement process?
No, the claim procedure for add-on covers is not different from the standard claim settlement process. You shall be readily covered or reimbursed as per the add-on covers that have been chosen by you.
4. What does the term ‘constructive loss’ mean under Bharti AXA car insurance?
The term ‘constructive loss’ refers to the accidental damages or losses to the insured car in the event of total loss being over 75 percent of the Insured Declared Value.
5. How is the Bharti AXA car insurance premium calculated?
The premiums of your Bharti AXA car insurance plan depends on a variety of factors, such as IDV, model, registration place, claims history etc. It is preferable to approach the insurance company to get the exact premium amount.
6. When should I renew my Bharti AXA car insurance policy?
You should renew your Bharti AXA car insurance policy before its due date. It keeps your car secured against the risks without any breaks and takes care of the loss or damage within the policy period. The timely renewal of your policy helps you to save No Claim Bonus (NCB) — the hard-earned discount on your premiums against claim-free years. Also, plying the vehicle without a motor insurance is against the law.
7. What if my car insurance policy has expired?
If the policy has expired, you can obtain a fresh insurance policy. Since the policy has already expired, the insurer will physically verify your vehicle at your cost. The entitlement of NCB will be as per the rules.
8. How to get a duplicate policy document, in case I lose my original Bharti AXA car insurance policy document?
You can approach a nearby insurance branch with a written request. The insurer will charge a nominal fee to issue a duplicate document of your motor insurance policy.
9. Can I cancel my Bharti AXA car insurance policy midway?
Yes, the policy can be cancelled midway and any unused premium will be refunded on a short period basis, provided there is no claim. To cancel the policy, you have to submit the required document(s) to prove that you have taken a policy from another insurer.
10. I have a Bharti AXA liability only policy. Am I eligible to buy add-ons?
No, add-ons are available with comprehensive car insurance policies only.