Bajaj Allianz Car Insurance Overview
Bajaj Allianz Car insurance by Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited and Allianz SE. The company has been a leader in the car insurance market with world-class products, efficient service and after-sales support. The company has been offering various types of insurance plans both in the Life Insurance category and General Insurance category. Car insurance that the company offers falls under the category of Motor Insurance plans offered. Car insurance plans, as compulsory under 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..
Bajaj Allianz Car Insurance Plan at a Glance
|Features||Coverage and Benefits|
|Third Party Coverage:||Upto 7.5 L|
|Incurred claim ratio:||71.61%|
|Personal Accident Insurance:||Yes|
|Network Garages:||4000+ network garages.|
|No Claim Bonus||Up to 50% of existing policy|
Advantages of buying Bajaj Allianz car Insurance
The company is called the leader in the insurance industry because it gives its customers a little extra benefit when they buy car insurance plans from the company. Below are the advantages of buying car insurance plans from Bajaj Allianz:
- The company has a specialty in servicing claims to settle them fast
- A comprehensive Bajaj Allianz car insurance, covers for both third party legal liability and own damage liability under the same plan. Moreover, a range of extra coverage options are also available under the Bajaj Allianz Car insurance plan some of which are free while an extra premium is required for others.
- Cashless claim settlement can be done across 1500 preferred workshops. If the cashless claim settlement facility is not available then the company pays 75% on account payment.
- This policy can however be purchased over the internet as well through a simple process wherein one can do so by visiting the company website, choosing the motor insurance tab and then click on buy online or renew online, fill in the basic details, compare and hence purchase.
- The company provides a 24*7 telephone support and assistance to deal with claims raised by customers which is available even on holidays
- Up to 50% of the No Claim Bonus of any existing plan from another insurer can be transferred to the plan bought from Bajaj Allianz General Insurance Company.
- There is a facility of SMS alerts on the claim status operated through the Bajaj Allianz Car Insurance company’s 24*7 call centers
- Preferred workshops associated with Bajaj Allianz Car Insurance provides access to hassle-free inspection services and gives the customers high standards of service for their insurance plans
Features and Benefits of Bajaj Allianz Car Insurance plans
The Bajaj Allianz Car Insurance company sells three different types of car plans to customers and every plan has the following similar attributes:
- Private cars as well as commercial vehicles can be insured
- Towing Facility is provided if there is a breakdown or an accident
- 24*7 spot assistance is offered for breakdowns or accidents
- New customers or existing ones can avail lock and key replacement cover
- Other add-on covers include Accident Shield, Conveyance Benefit and Consumable expenses and these can be added for increased protection
Private Car Insurance Plans by Bajaj Allianz:
Range of coverage under Private Car Insurance Plans By Bajaj Allianz
The plan offered by the Bajaj Allianz car Insurance company covers the following:
- Any loss or damage which happens to the car because of natural calamities which include fire, explosion, earthquake, self-ignition or lightning, flood, typhoon, tempest, inundation, , hurricane, storm, cyclone, hailstorm, frost, landslide, etc.
- Any sort of loss or damage as a result of man-made causes like burglary, riot, theft, strike, accident by external means, malicious act, terrorist activity, any damage while the car is in transit by road, rail, inland waterway, lift, elevator or air
- A compulsory Personal Accident cover for the owner or driver of the car while mounting or dismounting and driving or travelling from the car. The coverage under this Bajaj Allianz Car Insurance plan is provided for up to Rs.2 lakhs for a minimal amount of premium of Rs.100
- A legal third party liability cover which covers legal protection from any death or injury claims made by third parties because of damages which result in a permanent injury or death of any person and also damages caused to the surrounding property which also includes the vehicle’s occupants, or cost and expenses which are incurred without the prior agreement of the company along with personal accident benefits for the paid driver, proposer, and the vehicle’s occupants
- The legal third party liability cover is an unlimited amount for death and up to a maximum of Rs.7.5 lakhs for injury and damage to the property of third party.
- Electrical or electronic fittings like, music system, fog lights, AC, spoilers with brake lights (for 4% of the accessory’s value)
- Non-electric fittings which include mag wheels, non-electrical spoilers, seat covers etc. as per the own damage rate on the value of the accessories
- CNG Kit and Bi-fuel system as endorsed on the RC Book will be covered at an additional payment of premium.
Add-on covers on Bajaj Allianz Car Insurance
The following additional cover options can be availed if you pay an extra amount of premium:
- Conveyance Benefit cover – Under this Bajaj Allianz Car coverage, a daily cash benefit, the amount of which depends on the Bajaj Allianz Car Insurance plan opted by the customer, will be paid by the company in the event of the car being at a workshop undergoing repairs due to accidental damage suffered by the car for which a claim has been made on the company and such a claim has also been accepted by the company. The coverage will start from the day the surveyor appointed by the company has concluded valuation of the vehicle under the own damage claim raised by the customer. If there is a change in ownership of the vehicle, the cover will expire
- Accident Shield Cover – The Bajaj Allianz Car Insurance company compensates the occupants of the insured car in case of death and/or any permanent total disability arising out of an accidental bodily injury suffered in an accident while travelling in the insured car under the Accident Shield cover opted under the plan
- Consumable Expenses cover –The consumables’ expenses will be covered if the car incurs damage through causes covered under the Bajaj Allianz Car Insurance plan. The cost covered will be the expenses required to replenish or replace the consumables which were damaged during the repairing of the damaged car. The consumables covered include engine oil, power steering oil, gear box oil, coolant, brake oil, AC gas oil, AC refrigerant, fuel filter, battery electrolyte bearings, washers, wheel balancing weights, clip, and other similar items except fuel
Variants of Car Insurance Plans offered by Bajaj Allianz
The Bajaj Allianz general Insurance company issues Car Insurance plans in three variants which are described below:
- Best Value Plan – A basic Bajaj Allianz Car Insurance plan with the lowest cost of premium among all the variants. The coverage is also very basic in nature with a low own damage premium. The plan covers basic Third Party Liability, Personal Accident coverage for owner or driver and 24*7 Roadside Assistance cover. Other optional covers include coverage for electrical accessories, coverage for non-electrical accessories, Personal Accident cover for co-passenger, CNG Kit coverage and Driver Cover. The No Claim Bonus discount can be availed by the customer if he wishes and also a voluntary deductible option can be chosen wherein the customer promises to pay a part of the claim from his own pocket before raising the claim to the company. This option goes towards lowering the cost of premium paid by the customer.
- Standard Plan – A plan offering a regular cover at a standard rate of premium. The Bajaj Allianz car Insurance plan covers basic Third Party Liability, Personal Accident coverage for owner or driver and 24*7 Roadside Assistance cover. Other optional covers include coverage for electrical accessories, coverage for non-electrical accessories, Personal Accident cover for co-passenger, CNG Kit coverage and Driver Cover. The No Claim Bonus discount can be availed by the customer if he wishes. The bonus can also be transferred from an existing policy held with another insurer up to a maximum of 50%
- Flexible Plan – A plan offering an enhanced coverage protection on the vehicle with the premium amount tending to be on the higher side. The plan covers basic Third Party Liability, Personal Accident coverage for owner or driver, 24*7 Roadside Assistance cover, Depreciation Shield cover protecting the value of the car against depreciation and Engine Protector Cover which covers the engine of the car against damages. Other optional covers include coverage for electrical accessories, coverage for non-electrical accessories, Personal Accident cover for co-passenger, CNG Kit coverage and Driver Cover. The No Claim Bonus discount can be availed by the customer if he wishes. The bonus can also be transferred from an existing policy held with another insurer up to a maximum of 50%. There is also a voluntary deductible option which can be chosen wherein the customer promises to pay a part of the claim from his own pocket before raising the claim to the company. This option goes towards lowering the cost of premium paid by the customer.
Liability Only Motor Insurance Policy by Bajaj Allianz:
A ‘Liability Only’ plan covering vehicles used for commercial purposes and not personal purposes.
- Scope of coverage
The following cover is provided under the Bajaj Allianz Car Insurance plan:
- Third Party Legal Liability which covers legal liability for any injury caused, death and/or any damage to the property of the third party arising out of the use of the insured commercial vehicle. Commercial Vehicles include goods carrying vehicles of both public and private carrier, passenger carrying vehicles and miscellaneous and special types of vehicles.
- Personal Accident coverage for owner or driver in case of accidental death and permanent total disability.
How to Apply or Renew your Bajaj Allianz Car Insurance Plans?
You can apply for a policy through various means which include:
- You can also request for a call back by filling in your details on the company’s website at the call back column
- Buying online is also possible on the website of the company
- The Bajaj Allianz Car Insurance company’s branches or agents can also be approached for the same.
Bajaj Allianz Car Insurance Premium Calculator
This policy can be compared online by individuals visiting the company website as well to buy the car insurance policy online.
Premium for a Bajaj Allianz car Insurance policy depends on a number of factors like IDV, i.e. Insured Declared Value of the car, the make and model of the car, year of purchase and registration, the city, etc.
- A has bought a new BMW model 1 Series car in the current year and as per the mandatory laws seek to insure the car. He approaches Bajaj Allianz Car Insurance Company to buy a comprehensive plan for his dream car. The Premium works out to be Rs.57, 371 for an Insured Declared Value of Rs.18.81 lakhs
- B buys a second-hand car from a car reseller online for a good price. The car he buys is a Chevrolet Cruze 2.00 Ltr which was initially registered in the year 2011. The company charges a premium of Rs.16, 389 at an Insured Declared Value of Rs.564, 470
- C buys a new Honda Amaze for his wife as a 25th Anniversary present. To get an insurance coverage, he approaches Bajaj Allianz and seeks out the premium chargeable. Using the Premium Calculator provided by the company, C finds out that the premium for his new car would be Rs.16, 863 for an Insured Declared Value of Rs.498, 556.
The table tabulates the above data for an instant reference
|Applicant||Type of Vehicle||Insured Declared Value||Premium|
|A||BMW Series 1||18, 81, 000||57, 371|
|B||Chevrolet Cruze 2.00 Ltr.||564, 470||16, 389|
|C||Honda Amaze||498, 556||16, 863|
Bajaj Allianz Car Insurance – FAQs
1. Do I need Bajaj Allianz Car Insurance?
Life is uncertain. So, it is very necessary to be covered under car insurance policy. It offers protection against three types of unfortunate events like third party liability, personal activity and damage to own car.
2. Can I purchase Bajaj Allianz Car Insurance policy online?
Yes, Bajaj Allianz Car Insurance allows you to purchase car insurance online. It also provides you the different option of payment like Debit or Credit card, or Internet Banking.
3. How much coverage does Bajaj Allianz Car Insurance policy provide?
The coverage offered by Bajaj Allianz Car Insurance depends on the IDV and the price of the car. You can easily purchase a Bajaj Allianz Car Insurance policy and file a claim on company’s website.
4. Can I renew my existing Bajaj Allianz Car Insurance online?
Yes, you can renew Bajaj Allianz Car Insurance online. All you need to do is log in with your username/email and password on company’s website to proceed.
5. Can I renew my other car insurance policy with Bajaj Allianz?
Yes, Bajaj Insurance allows you to renew your other car insurance policy with Bajaj Allianz with different payment option such as Debit or Credit card, or Internet Banking.
6. What types of a car does Bajaj Allianz insure?
You can purchase car insurance coverage for your new and used car from Bajaj Allianz
7. What is the claim settlement procedure of Bajaj Allianz Car Insurance?
Claim settlement procedure of Bajaj Allianz Car Insurance is very easy and quick. It only takes 3 business days to settle the claim. The company also promises to settle claims to settle all types of claims within 7 business days. It require very few documents to process your claim for example the proof of policy document along with a duly filled claim form.
8. Does Bajaj Allianz insurance offer any discount on purchasing or renewing car insurance policy?
Yes, Bajaj Allianz offers 5% discount on own damage subject to the age between 35 and 45 years and 10% discount subject to the age between 46 and 65 years. It also offers 5% discount for policyholders who are on following positions; charted accountants, employees of state and central government, charted accountants, teachers in government schools, doctors in government hospitals.
9. Can I transfer my No Claim Bonus (NCB) discount?
Yes, you can transfer NCB of your previous car insurance to the new one purchased from Bajaj Allianz. There are multiple other benefits that are offered under Bajaj Allianz Car Insurance.
10. Am I allowed to transfer my Liability-Only insurance to Bajaj Allianz?
Yes, all you need to do is simply transfer your NCB of your previous car insurer to Bajaj Allianz. You will be able to enjoy all the benefits same as you were enjoying with your previous insurance policy.
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