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bajaj allianz two wheeler insurance

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Bajaj Allianz Two Wheeler Insurance

Bajaj Allianz is a leading insurer in the general insurance market who received an insurance regulatory and development authority of India (IRDAI) certificate of registration on 2nd May 2001, to conduct general insurance business. The organization is a joint venture between Allianz and Bajaj Finserv Limited.

Other than two wheeler insurance they have many different policies which include health insurance, travel insurance, home insurance and motor, insurance plans. After their establishment in 2001, they scattered their operations throughout the country and maintained a good position in the market. The ICRA recognized them as an iAAA rating for their high claim paying ability. All these qualities made Bajaj Allianz two wheeler insurance an excellent choice among all the options available in the market.

Significant Points Of Bajaj Allianz Two Wheeler Insurance

Features

Long term two wheeler insurance (two years)

Long term two years insurance (one year)

Renewal frequency Once in two or three years Once every year
Coverage period Two or three years Once every year
Premium hikes No effect in the premium during the policy period Increase in premium every year
NCB benefit Additional benefit at the time of renewal As per tariff
NCB benefit after a claim NCB gets reduced but does not become nil NCB becomes zero after one claim
Mid-term cancelation refund Proportional refund provision even after a claim during the policy period for the uninitiated policy years No refund in case of any claim

Benefits And Features Of Bajaj Allianz Two Wheeler Insurance Policies

You can enjoy a few benefits and features when you opt for a Bajaj Allianz two wheeler insurance policy, such as:

  • The company adopts a simple process for settling claims.
  • The preferred workshop provides the facility of cashless settlement. The company pays 75% on account payments if the cashless claim settlement facility is not available.
  • Comprehensive coverage on both third party legal liability and own damage.
  • SMS alerts are given as a benefit for 24×7 as a facility.
  • Up to 50% of the no claim can be transferred from previous insurance play by porting the same.
  • 24×7 telephone service is also provided to customers to deal with their claim-related inquiries.
  • Mid-term cancellation provision even after the claim.
  • NCB can be availed at the time of renewal for not claiming the insurance policy.

List Of Coverages That Bajaj Allianz Offers

Bajaj Allianz two wheeler insurance covers the following arenas under their policy:

  1. Third-party liability-only policy – This third-party two wheeler insurance cover is meant only to the third party if your vehicle causes damage to the third party. The amount of Bajaj Allianz two wheeler insurance claims depends on the extent of the damage. 
  1. Loss due to natural disasters: Any loss faced by the vehicle due to natural disasters like, fire, flood, typhoon, lightning, etc. will be covered by the policy.
  1. Loss or damage due to man-made calamities: If there is any loss to the vehicle due to man-made reasons like strikes, burglary, theft, terrorist activity, then Bajaj Allianz will cover the loss incurred.
  1. Personal Accident Cover: A rough sum of Rs. 15 lakhs is given as a personal accident insurance cover to the owner or driver of the vehicle in case of meeting an accident while driving the vehicle.

Add-Ons To Enhance Your Coverage With Bajaj Allianz

If you’re looking for enhanced protection you can add these covers to your policy.

  • EMI Protection – The insurer will pay the EMI’s of the insured vehicle under the EMI bike insurance and protection cover if the bike is being repaired at the certified and approved garage after the accident
  • Zero Depreciation Add-on – With age and continuous usage, the value of the vehicle is depreciated. With this add-on, the value of depreciation is deducted at the time of claim.
  • NCB Protection Add-on – This bonus gives you a discount on the premium at the time of renewal of the bike insurance provided you’ve not filed for a claim previously.
  • Helmet Cover – When an accident occurs, your helmet is damaged, the insurance company will pay for the repair or replacement of the helmet damaged in the accident.
  • 24×7 Roadside Assistance – This add-on is beneficial to those riders who travel long distances. If your bike breaks down in the middle of the road and you have no source to take it to the garage, you can contact the insurance company anytime. 
  • Engine Protection – Many people choose to enhance basic bike insurance with engine protection which covers our engine, gearbox and subsequent parts.
  • Consumable Expenses – In the case of damage to the bike, this add-on covers consumable expenses for all types of motorbike oil, coolants, refrigerants, etc.
  • Personal Accident Cover for Pillion Riders – Just like your safety, the safety of the pillion rider is covered under the bike insurance policy. It’s beneficial when the secondary rider is injured in an accident with you.

Exclusions Of Your Bajaj Allianz Two Wheeler Policy

Just like certain covers, your policy also has exclusions. They include:

  • Legal liability of an employed driver 
  • Damage caused because of the negligence of the driver
  • Regular wear and tear of the vehicle 
  • If the vehicle is driven under the influence of alcohol or sedatives.
  • Loss or theft of accessories 
  • Vehicle depreciation
  • If the accident occurs by the driver without a valid license.
  • Any accidental loss or damage caused by nuclear weapons material, directly or indirectly.
  • Any liability of any nature caused by ionizing radiation.
  • Any accidental loss or damage sustained outside the geographical area.

How To Buy A New Two Wheeler Policy With Bajaj Allianz?

If you’re looking to purchase a new policy, you can follow the methods given below:

1. Apply via The Probus Website

  1. Log in to the Probus website and select two wheeler insurance.
  2. Enter your basic details like city, car model, variant, year of registration, policy expiry, etc.
  3. You’ll have to add a few more details like manufacture month and year, purchase date, license validity, etc.
  4. Compare and contrast various plans and choose the one that suits you.
  5. Make an online payment through the mode of your choice.
  6. The policy will be mailed to you in no time.

2. Apply via The Official Bajaj Allianz Website

  1. You can either apply for a Bajaj Allianz two wheeler insurance by providing your email ID, name, and mobile number on the website and request for a callback.
  2. Alternatively, you may even directly buy a plan online through the following steps:
  3. Visit the official website
  4. Click on ‘Buy Now.’
  5. Fill out some basic information about yourself and your vehicle.
  6. Explore the plans and choose the one that suits you
  7. Make an online payment, and the policy will be mailed to you

Steps to Renew Bajaj Allianz Two Wheeler Insurance Policy

You can easily renew your policy with just a few clicks.

1. Renew via the Probus website

  1. Login to the Probus website and click on renew the policy
  1. Select the insurer
  1. You’ll be taken to the insurer’s website where you need to enter basic details like the existing policy number and registration number
  1. Check the No Claim Bonus if you are eligible
  1. Select the value of the vehicle and opt for any add-ons at additional costs
  1. Review the details and make any changes if required
  1. Make the online payment through credit or debit card
  1. You’ll have the policy in your inbox

2. Renewal via The Official Bajaj Allianz Website

  1. Head to Bajaj Allianz’s official website.
  1. Go to the two wheeler insurance renewal page and fill in the requested details.
  1. Fill in other details like the two wheeler variant, previous policy, and city of insurance.
  1. You may include add-ons at additional costs, and a new premium will be calculated.
  1. Pay the amount online, and your insurance will be renewed.
  1. The renewed policy will be mailed to your registered email address.

Easily Make A Two Wheeler Claim With Bajaj Allianz, Here’s How

Bajaj Allianz offers a seamless way of registering for a claim. The policyholder can follow the simple steps below to claim their insurance.

  1. Send the damaged vehicle for repair: If you face any damage, you can take the vehicle to the nearest garage. You may take the vehicle yourself or get it towed. If your vehicle is stolen, you should file an FIR with the local police and inform the company. A non-traceable report from the police after 90 days of theft is to be submitted to Bajaj Allianz to initiate the claim process.
  1. A claim should be registered: The policyholder has to register the claim. Information like phone number, engine number, time and date of the accident, location, description, etc. are to be provided to the company’s executive.
  1. Claim Reference Number: Once you’ve submitted all the details, a claim reference number will be generated, and you can use it to check the status of your claim.
  1. Document verification: You will then have to submit a copy of the below-mentioned documents to the garage or dealer.

Documents Required To Claim Bajaj Allianz Two Wheeler Insurance

Based on your circumstance, keep these documents handy to file a claim.

For Accident Claims

  • Signed claim form
  • Valid registration copy of the two wheeler
  • Driving license copy
  • Copy of policy’s first two pages
  • FIR copy
  • Original estimate

For Theft Claims

  • Signed claim form
  • RC copy with original keys
  • Driving license copy
  • Insurance plan copy
  • FIR report
  • Final Police Report

For Third-Party Claims

  • Signed claim form
  • Copy of FIR
  • Copy of driving license
  • Copy of original policy
  • Copy of registration certificate

Learn About Premium And Factors Affecting It

Premium is the amount of money that you need to pay till the expiry of your insurance policy.

You can access the premium calculator to get a quote for the Bajaj Allianz two wheeler insurance policy.

The components involved in the calculation of two wheeler insurance premium are discussed below:

Add-ons

Any add-on that you want to avail at an additional cost will be included in the premium calculation.

IDV

The present market value of your vehicle after the depreciation is calculated.

NCB

No claim bonus is a discount given by the insurance company for not seeking claim during the policy period.

Anti-theft features

Anti-theft features availed will increase the cost of premium.

Make, model, and age

The brand and model of the bike will also determine the value of premium.

How To Calculate Bajaj Allianz Two Wheeler Insurance Premium?

Premium is the amount of money that you need to pay till the expiry of your insurance policy.

You can access the premium calculator to get a quote for the Bajaj Allianz two wheeler insurance policy.

The components involved in the calculation of two wheeler insurance are discussed below:

Step 1: Visit the official website of Bajaj Allianz.

Step 2: From the menu, you need to enter the make and model of your two wheeler.

Step 3: Select the location and the insurance registration of the vehicle.

Step 4: Fill in other information like NCB or add-ons.

Step 5: Once you’ve filled in all these details, you will get the exact amount of the insurance premium amount.

Frequently Asked Questions

1. What is the No Claim Bonus under Bajaj Allianz Two Wheeler Insurance?

Ans: A customer who does not make any claim in the policy year is rewarded with a No Claim Bonus.

2. Can I make claim amounts in small sums?

Ans: You can make claims of any amount, but it should not be less than the value of the no claim bonus.

3. What is the Bajaj Allianz Insurance policy cancellation process?

Ans: You have to submit policy documents and a duly filled surrender form at the nearest branch of Bajaj Allianz.