Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj FinServ Limited and Allianz SE, with Bajaj FinServ Limited owning 74% and Allianz SE owning 26%. The company, which has its headquarters in Pune, was founded in 2001 when Bajaj Allianz received a certificate of registration from the Insurance Regulatory and Development Authority of India (IRDAI) to conduct multiple businesses in India, including two Wheeler insurance. In the bike insurance industry, the firm has a great reputation, stability, and knowledge.
The cashless claim settlement feature that Bajaj Allianz General Insurance Company provides its consumers with for bike insurance and other insurance industries is highly acknowledged. Bajaj Allianz has received an AAA grade from ICRA (Investment Information and Credit Rating Agency), indicating that the insurance business is capable of settling the largest number of claims for two-wheeler insurance, among other things. Bajaj Allianz is now one of the most financially stable general insurance businesses in India, with a 28.1 percent increase in net profit to Rs 999 crore and a 15.6 percent gain in revenue to Rs 12,833 crore over the previous fiscal year.
List of best Bajaj Allianz two-wheeler insurance
The Bajaj Allianz bike insurance coverage is intended for people who appreciate a sense of independence and security when riding their two-wheelers. The policy provides full coverage for third-party liability, theft, and physical damage to your bike or scooter. The insurance firm also provides multi-year bike insurance policies that can last up to three years. Bajaj Allianz provides two major types of two-wheeler insurance policies: third-party and comprehensive.
- Third-party two-wheeler insurance
The Bajaj Allianz Third Party Two-Wheeler Insurance policy covers and compensates third-party liabilities that emerge as a result of an accident. According to the Motor Vehicles Act of 1988, this form of two-wheeler insurance coverage is required for two-wheeler owners. In terms of legal protection, the rider is particularly useful to the two-wheeler owner because the third-party two-wheeler insurance policy protects both the two-wheeler owner and the other parties involved in the disaster. This sort of two-wheeler insurance coverage protects third-party liability in the event of an unanticipated incident that causes bodily harm, death, or property damage to the third party.
- Comprehensive two-wheeler insurance
Comprehensive bike insurance from Bajaj Allianz adds an extra layer of security to your bike. It provides all-in-one coverage for damage incurred and caused by the insured’s motorcycle. Because this insurance covers both own-damage expenditures and third-party liabilities, it provides holistic coverage. This form of a two-wheeler insurance policy protects the two-wheeler owner against the risks associated with riding a two-wheeler. This policy is not required, but it is suggested.
The premium would be determined by the Bajaj Allianz two-wheeler insurance company’s underwriting guidelines, which are determined by the Insured Declared Value (IDV) of your two-wheeler. The higher the Insured Declared Value (IDV), the higher the premium. Furthermore, for the same amount of the Insured Declared Value, the premium payable for comprehensive package insurance will always be greater than the comparable premium due for a third-party liability-only policy because the former policy offers dual coverage while the latter does not.
Bajaj Allianz also provides a choice of add-on covers that you may purchase in addition to your standalone own-damage and comprehensive two-wheeler insurance policy to enhance the policy’s coverage. These add-ons are optional, and you may choose which one you want based on your needs. Bajaj Allianz provides important add-ons like Zero Depreciation Cover, EMI Protection, NCB Protect, Helmet Cover, 24×7 Roadside Assistance, Engine Protection, Consumable Expenses, and Personal Accident Cover for Pillion.
Bajaj Allianz provides its clients with a simple and convenient online renewal option. Furthermore, they provide a speedy claim settlement method and a large network of cashless facilities where your two-wheeler may be fixed. The insurance company also has a very high claim settlement rate.
Bajaj Allianz two-wheeler insurance- Reviews
The corporation employs about 20,154 people at 1,409 different sites and is involved in consumer financing, life insurance, and general insurance. In addition to financial services, Bajaj FinServ is involved in wind energy generating, with a total installed capacity of 65.2 MW.
Bajaj Allianz has received an IAAA rating from ICRA (Investment Information and Credit Rating Agency), indicating that the insurance firm has the potential to satisfy the maximum number of claims for two-wheeler insurance, among other things.
Bajaj Allianz has received several honors and distinctions. The insurance firm was just named “Best Motor Insurance Provider of the Year” by the Business Today-Money Today Financial Services Awards. The insurance firm currently has a pan-India presence, with 759 branches, and seeks to reach out to every individual who requires bike insurance, health insurance, and so on. In 2014, Bajaj FinServ was placed #119 on The Economic Times 500.
Important Benefits of Bajaj Allianz two-wheeler insurance
- Two-Wheeler Insurance coverage can readily purchase and renewed online in a few simple steps.
- Up to 50% of the existing No Claim Bonus can be transferred from any two-wheeler insurance. Round-the-clock customer service by phone, email, and other means.
- Availability of claim support 24 hours a day, seven days a week, and SMS updates are also available.
- High service standards, as well as a simple claim settlement and car inspection procedure.
Bajaj Allianz two-wheeler insurance Care Numbers / Contact details
For any questions or concerns about the Two-Wheeler Insurance coverage provided by Bajaj Allianz General Insurance Company, please contact the insurer using the information provided below.
- Registered Address: Bajaj Allianz House, Airport Road, Yerawada, Pune-411006
- Landline/Mobile: 1800-209-0144/1800-209-5858/1800-102-5858/020-30305858
If you want to acquire or renew your vehicle insurance policy, or if you have any questions or concerns, you may go to your local Bajaj Allianz branch for help. To find the nearest branch office, utilize the ‘Branch Locator’ tool on Bajaj Allianz General Insurance’s official website.
Features of Bajaj Allianz two-wheeler insurance
The following are the key features of the Bajaj Allianz two-wheeler insurance policy:
- The insurance company offers multi-year bike insurance coverage that may run for up to three years.
- The claim settlement process is simple and painless.
- The insurance policies are conveniently available for purchase online.
- A large network of almost 4,000 garages.
- Customized insurance products and services are available.
- With the Caringly Yours App, one can digitally empower the procedures.
- Customer service is available 24 hours a day, seven days a week.
- There are several add-ons covers available, including Zero Depreciation Cover.
Bajaj Allianz two-wheeler insurance Coverage
Natural Disaster Damage or Loss to the Two-Wheeler: The Bajaj Allianz bike insurance policy protects your vehicle from losses and damages caused by natural disasters such as explosions, fires, lightning, floods, earthquakes, hurricanes, storms, landslides, rockslides, cyclones, frost, hailstorms, and others.
Man-Made Calamities Caused Damage or Loss to the Two-Wheeler: The coverage covers losses or damages to the vehicle caused by man-made incidents such as theft, strikes, riots, malicious actions, damages in transit, terrorist attacks, and more.
Personal Accident Coverage: The Bajaj Allianz motorcycle insurance policy includes Rs.1 lakh personal accident coverage for the individual driver/owner of the motorbike that occurs while mounting, dismounting, or riding the vehicle. You may also purchase add-on coverings to safeguard the pillion riders/unnamed hirers, among other things.
Third-Party Liability: The coverage protects the insured from any financial or legal responsibilities resulting from unintentional damage or loss to a third party or their property.
Add-ons offered by Bajaj Allianz two-wheeler insurance
Bajaj Allianz has a number of add-on coverage options that you may choose from to expand the scope of your Two-Wheeler Insurance policy. The following are some of the additional covers:
Flat Battery: If a vehicle cannot be transported owing to a flat battery, the insurer will make alternate transportation arrangements under this add-on policy. The policy paper contains the terms and conditions for this add-on cover.
Spare Keys: If the covered bike or scooter’s keys are lost, the insurer will arrange for the retrieval and delivery of the spare keys under specified conditions.
Flat Tyre: If the vehicle cannot be moved owing to a flat tyre, the insurer will arrange for a technician to repair the tyre, according to the restrictions specified in the policy agreement.
Minor Repairs: In the event that the vehicle gets immobilized due to an electrical or mechanical breakdown, the insurer will give expert assistance.
Aside from the add-on coverage stated above, the insurance also provides breakdown help over the phone, fuel assistance, urgent message relays, towing service, and more.
Exclusions of Bajaj Allianz two-wheeler insurance
- Vehicle deterioration as a result of aging.
- Breakdown in electrical/mechanical systems.
- A two-wheeler being utilized for illegal reasons that are prohibited by policy.
- Damage caused by a person riding a motorcycle or scooter without a valid driver’s license.
- Damage caused by a person who is under the influence of alcohol or drugs while riding a bike or scooter.
- Vehicle loss or damage caused by rebellion, war, or nuclear peril.
- Vehicle accessories lost or damaged as a result of housebreaking, burglary, or theft (except if the vehicle is stolen).
- General wear and tear of consumables such as tyres and tubes (if the vehicle is also damaged, the insurer’s obligation will be restricted to 50% of the replacement cost).
How to Claim for Bajaj Allianz two-wheeler insurance
Declare your claim:
It is best to file an insurance claim as quickly as possible following any occurrence that results in loss or damage to your two-wheeler. You can file your claim in one of the following ways:
- Visit Bajaj Allianz’s official website and lodge your claim online.
- Call Bajaj Allianz customer service at 1800-209-5858 for assistance with the claim’s procedure (toll-free number).
You must maintain the following information on hand while registering the claim:
- Vehicle Engine and Chassis Number
- Accident date and time
- Location of the accident
- A description of the accident and the circumstances surrounding it
- Address for vehicle inspection
- The vehicle’s kilometer reading
- Police FIR, in the event of a car theft
Take your vehicle to the garage: If your vehicle is damaged as a result of an accident or for any other cause, it should be transported to the garage to prevent additional damage.
Please provide the following documents: The final step in resolving a claim is to submit the required paperwork to the insurer. This may contain the vehicle’s registration certificate, a copy of the police FIR, a policy document, a driver’s license, and other documents as specified by the insurer.
Online and offline applications for Bajaj Allianz two-wheeler insurance
There are several ways to purchase the Bajaj Allianz Two-Wheeler Insurance plan:
- You may request call-back by entering your name, email address, and cellphone number on the company’s web form.
- You may also purchase the plan straight online by selecting the ‘Buy Now’ option on the company’s website.
Online renewal of Bajaj Allianz two-wheeler insurance
Policyholders of Bajaj Allianz can renew their motorcycle insurance online. The online renewal process for Bajaj Allianz two-wheeler insurance is user-friendly. All you need is an internet connection, a computer, and information about your insurance policy.
To renew your bike insurance coverage, go to the renewal area of the page and fill out the form with the information from your previous policy. You may also be asked to provide personal information such as your phone number, birth date, and so on. Then, confirm the two-wheeler insurance policy and select the optional coverage. The Bajaj Allianz two-wheeler insurance renewal online premium must be paid. You will receive the policy copy for your two-wheeler insurance through Bajaj Allianz’s online renewal after your payment is processed.
The government has ordered that all new automobiles come standard with long-term third-party motor insurance coverage. According to the new regulations, four-wheelers must be covered by third-party insurance for a period of three years. Two-wheelers must be covered by insurance that protects the owner against third-party liability for a period of five years.
This action is based on the Supreme Court’s ruling on July 20, 2018. It was discovered that 66 percent of all automobiles on Indian roads do not have third-party motor insurance coverage. As a result, accident victims do not get compensation since the cars are not insured.
According to the director of Auto Underwriting and Motor Claims at Bajaj Allianz General Insurance, this move is likely to enhance the country’s motor insurance penetration. He also noted that two-wheelers are more likely to be uninsured in India than four-wheelers.
FAQs for Bajaj Allianz two-wheeler insurance
Q1. What is the maximum limit of claim I can make on a Bajaj Allianz Two-Wheeler Insurance policy?
Ans – The maximum amount of claim you may submit cannot exceed the vehicle’s Insured Declared Value (IDV), which is calculated at the time of policy purchase or renewal. In any scenario, the insurance carrier is not obligated to pay more than the vehicle’s IDV.
Q2. Can I renew Bajaj Allianz Bike Insurance Policy Online?
Ans – Yes, you may easily renew your bike insurance policy using Bajaj Allianz’s official website. All you have to do is input the information of your current insurance and choose the plan you want to purchase.
Q3. What is No Claim Bonus?
Ans – The No Claim Bonus is essentially a discount granted by the insurer if there have been no claims on the insurance policy over the prior year. An NCB of up to 50% can be transferred from your existing bike insurance policy to the Bajaj Allianz Bike Insurance Policy.
Q4. What exactly is voluntary excess?
Ans – The voluntary excess is the portion of the claim that the policyholder wishes to contribute to the total claim amount. Increasing the amount of voluntary excess lowers the premium while increasing the insured’s obligation in the event of loss or damage to the vehicle or a third party.
Q5. What are the benefits of multi-year Bajaj Allianz Two-wheeler insurance?
Ans – Bajaj Allianz provides long-term bike insurance policies for up to three years. The following are some of the benefits of doing so:
1. There are no problems with yearly coverage renewals.
2. There is no influence on premiums during the policy’s term.
3. In the event of a claim, the NCB decreases but does not become nil.
Q6. How can I calculate premiums for my Bajaj Allianz two-wheeler policy?
By choosing the ‘Buy Online’ hyperlink, one may access the premium calculator to acquire a quote for a Bajaj Allianz two bike insurance policy. To advance to the premium calculator, pick the third option on the landing page, ‘Get a quotation for a new two-wheeler insurance.’ This leads you to a page where you must input the personal and vehicle information shown below, as well as answer questions regarding the type of coverage needed.
Q7. What happens in case of expiry of the insurance policy?
Ans – It is best to renew the auto insurance coverage before it expires. Failure to renew the insurance coverage on time may have the following negative consequences.
a. The No Claim Bonus suffers a setback.
b. While riding uninsured, the rider is vulnerable to hazards, among other things.