Bajaj Allianz Third-party Two-Wheeler Insurance
Before driving your ideal two-wheeler on Indian roads, you must have at least third-party bike insurance, according to Section 146 of the Motor Vehicles Act of 1988. You are shielded by the insurance coverage from both legal liabilities and damages to third parties caused by an accident. Therefore, the Bajaj Allianz third-party bike insurance is the only way to adhere to the law while still enjoying driving safely under their primary insurance coverage.
Bajaj Allianz General Insurance is one of the leading insurance service providers that offers third-party bike insurance. It protects the policyholder from all monetary and legal obligations a third party may incur as a result of harm the insured’s motorcycle has caused. The third-party two-wheeler insurance from Bajaj Allianz covers any harm done to uninvolved parties. The insurance covers the costs of harm done to a third party’s person, vehicle, or property, as well as the legal liabilities for which your insured two-wheeler is liable. In India, it is illegal to ride a motorcycle without this insurance.
What are the Features and Benefits of Bajaj Allianz Third-Party Two-Wheeler Insurance?
Listed below are the key features and benefits of choosing Third-Party Bike Insurance from Bajaj Allianz.
Legal and Financial Assistance:
The Bajaj Allianz third-party two-wheeler insurance covers the policyholder’s legal obligations in the event of a third party’s death or disability as well as any property damage. This kind of insurance also offers financial support during trying times. With the aid of third-party insurance from Bajaj Allianz, the policyholder’s financial and legal burden in such circumstances is lessened.
Peace of Mind:
The policyholder enjoys peace of mind with Bajaj Allianz Third-Party two-wheeler insurance. The customer will have peace of mind knowing that they have access to legal and financial support in the event of an accident, and the traffic law will not penalise them for not having third-party insurance because such coverage is required for all owners of two-wheelers.
Due to their constrained coverage, third-party two-wheeler insurance by Bajaj Allianz is cost-effective. The insurance is reasonably priced and can offer both financial and legal support when necessary.
The minimally necessary and online or offline purchasing documentation for the Bajaj Allianz third-party bike insurance. A vehicle inspection waiver is also applicable before issuing the insurance document.
If the insurance expires or lapses, all accrued benefits, such as the No Claim Bonus, may be forfeited. But even after it expires, renewing your Bajaj Allianz third-party two-wheeler insurance is simple. You can continue to enjoy its protection and benefits with no inspection necessary and with just a few clicks online.
Differences Between Comprehensive and Third-party Bike Insurance Policy
Here is the complete difference between comprehensive Insurance and Third-Party Bike Insurance from Bajaj Allianz.
|Parameters||Comprehensive Insurance||Third-Party Two-Wheeler Insurance|
|Definition||Addition of Own Damage Cover. It provides coverage for losses caused to your two-wheeler as well as death, injuries and property damage by a third party.||This is mandatory and takes care of financial damages that you suffer as a result of bodily injury, death and property damage from a third party.|
|Cost||More expensive because it combines both Third-Party and Own Damage premium||Comparatively less expensive|
Coverage is extensive
(Third-party plus cover for the insured bike and owner)
Coverage is limited
(Only third-party financial and legal liabilities)
|Add-Ons||With this insurance, one may opt for beneficial Add-ons inter alia such as Roadside Assistance, Zero-Depreciation Cover, Return to Invoice Cover, and Consumable Cover.||Typically, such policies provide only Personal Accident Cover|
What is Covered Under the Third-Party Bike Insurance from Bajaj Allianz?
Here are the following things covered under Bajaj Allianz Third-Party Bike Insurance.
- When the insured bike is involved in an accident, causing death or physical harm to a third party.
- Accidental damage or loss to a two-wheeler caused due to any of the following:
- Burglary or theft
- Riot and strike
- Fire or shock damage due to earthquakes
- Fire, self-ignition, explosion, or lightning
- Flood, hurricane, typhoon, storm, cyclone, frost, hailstorm
- Terrorist activity;
- Any damage due to rail, road, inland waterway, air transit, lift or elevator
- Accidental external means; Malicious act;
- Third-party property damage
What is Not Covered Under the Bajaj Allianz Third-Party Bike Insurance?
The following things are not covered under the Bajaj Allianz third-party two-wheeler insurance:
This insurance does not cover any damages that you or your bike sustain.
Driving Without a Licence:
If the accident happened while the driver lacked a valid licence, the insurer will not pay for the damages.
Driving Under the Influence:
If you caused harm to a third party while driving while under the influence of alcohol or another drug, you are responsible for paying all associated costs.
The insurer is not responsible for covering the damages if the accident happened outside of the scope of your registered RTO’s jurisdiction.
The insurer will not be responsible for any damages incurred if the vehicle sustains damage as a result of a war-related event.
How to Renew Your Bajaj Allianz Third-Party Bike Insurance?
Here is the process to renew your Third-party two-wheeler insurance from Bajaj Allianz.
- Visit the official website of Bajaj Allianz.
- After that, you will see the “Renew” option at the top. Click on it and then select “Two-Wheeler” Insurance.
- The moment you click on it, you will see two options, namely Two-Wheeler Insurance and Third-Party Two-Wheeler Insurance. Simply click on the “Renew” option under Third-Party Two-Wheeler Insurance.
- In the next step, you will need to enter your “Policy Number” and then select your vehicle registration number. Then, do a simple calculation. After that, click on “View Premium Details”.
- After that, you will see the details of your third-party bike insurance. Then, simply use your debit card/credit card to make the payment to proceed with the renewal process of your insurance.
- In the final step, you will receive the confirmation message directly to your registered email ID and Mobile number.
Frequently Asked Questions
Here are the frequently asked questions related to the third-party bike insurance from Bajaj Allianz.
Yes, the IRDAI guidelines state that third-party damages are capped at INR 7.5 lakh. However, there is no set amount of compensation for third-party death or bodily harm.
According to the Supreme Court’s directives, Bajaj Allianz third-party bike insurance offers policies with 5-year terms starting in September 2018 for all new two-wheelers.
The third-party bike insurance from Bajaj Allianz does not cover any damages to the insured’s bike brought on by a natural disaster.
Given that the Bajaj Allianz third-party bike insurance only offers minimal insurance coverage, there is no provision for no-claims bonuses.
Bajaj Allianz third-party two-wheeler insurance can be purchased online with several benefits, including the ability to compare similar policies and a lower premium than that available offline.