The insurer is a joint venture between Bajaj Finserv Limited and Allianz SE. As per March 31st 2020, the insurer reported a revenue growth of 15.6% to Rs. 12,833 crore along with 28.1% increase in net profit to Rs. 999 crore, over the last fiscal. The company offers basic, standard two wheeler insurance plans with additional add-on covers such as depreciation shield, engine protector, consumables expenses, own damage premium cover. Conveyance benefit, key and lock replacement, personal baggage and 24x7 assistance.
Disclaimer: The above mentioned prices are for a 2 year old Hero Honda Karizma R 223 CC, registered in Navi Mumbai & previous policy has expired.
As per the law, it is mandatory to get your new two-wheeler/bike covered with a two-wheeler insurance policy. Having done this, you will be free from any liability that occurs due to an accident with a third party i.e. someone on the road. Buying Bajaj Allianz two-wheeler insurance will help you pay off the financial liability in such cases. It also has a wide network of cashless garages where you can get your two-wheeler repaired and get cashless claims. Other advantages include:
Bajaj Allianz offers a varied range of add-on covers under different plans.
Depreciation Shield:
It covers the full cost of repair or replacing the depreciable parts of the insured two wheeler vehicle. The cost of depreciable parts such as plastic, rubber, metal, etc. is not fully covered in the policy. With this cover, you are financially safeguarded against expenses incurred in the repair or replacement of depreciable parts (except tyre(s) tube(s) damaged in accidents or any other perils mentioned in Own Damage.
Engine Protector:
It covers the cost or repair incurred due to the loss or any damage to the engine and/or gear box due to water ingression and/or oil leakage.
Consumables:
The cost of consumables can exceed the pre-determined sum assured at the time of making a claim. This add-on cover covers the cost of consumables such as nuts, bolts, washers, gasket, brake oil, etc.
Own Damage
Bajaj Allianz two insurance policy will cover the cost of any loss or damage to your two wheeler and its accessories during the following events:
Third Party or Liability
This policy serves as protection against legal liability due to accidental damages, resulting in bodily injuries or death of a third party, and/or any loss or damage incurred to the third party property.
Personal Accident Cover
This policy also cover personal accident cover for the driver/owner of the insured vehicle. An optional cover for the electrical and non-electrical accessories of your two wheeler, which includes horns, buzzers, seats, leg guard, etc. is also available.
| Features | 1 year Package Policy | 3 years Long Term Package Policy |
|---|---|---|
| Renewal frequency | Every year | Once in three years |
| Coverage period | Every year | Three years |
| Premium hikes | Every year TP premium increases | No effect in the TP premium during policy period |
| NCB Benefit | As per tariff | Additional benefit at the time of renewal |
| NCB benefit after a claim | NCB become 0 after one claim | NCB gets reduced but does not become nil |
| NCB gets reduced but does not become nil | No refund in case of any claim | No refund in case of any claim |
Bajaj Allianz General Insurance offers many attractive discounts that the policyholder can avail.
No Claim Bonus (NCB)
You can avail this No claim Bonus discount on the premium for the next policy year, provided you have not raised any claims throughout the policy year. Since this discount is cumulative, it keeps on increasing with consecutive no-claim years. The table below shows the percentage of discount.
| No. Of Years | Discount |
|---|---|
| One claim-free year | 20% |
| Two consecutive claim-free years | 25% |
| Three consecutive claim-free years | 35% |
| Four consecutive claim-free years | 45% |
| Five consecutive claim-free years | 50% |
Other Discounts
Bajaj Allianz General Insurance offers discounts if you are a member of any recognised Automobile Association of India.
Voluntary Deductible
Bajaj Allianz offers an additional discount as Voluntary Deductible, that is, you can opt to pay a certain amount of money at the time of claim and this gets you benefited to avail this discount on the premium amount.
Discount on Anti-theft
You also get discount if you install an Anti-theft device.
Other exclusions as mentioned in the policy wordings
Contact Details
Required steps and supporting documents
a) In case of Accident
b) In case of Theft
c) In case of Third Party Claims
Step-wise guide to claim:
With cashless settlement at over 4,000 authorized garages that are a part of Bajaj Allianz’s network, and 75% on account payment in the absence of this facility, Bajaj Allianz certainly has an edge in the insurance market. Instant claim assistance, followed by SMS updates through 24/7 customer support, the company reserves one of the top slots in the Indian market. The plans on offer are comprehensive, and when clubbed with appropriate add-on features, they can provide an all-inclusive financial protection for insured two wheelers.
You can select one, two or three years policy duration for your Bajaj Allianz two wheeler insurance.
You can follow three simple steps for your Bajaj Allianz two wheeler insurance claim:
IDV or Insured Declared Value is the maximum sum assured that will be paid by the insurance company upon complete loss or damage of your Bajaj Allianz two wheeler.
You can renew your Bajaj Allianz two wheeler insurance policy online through a few simple steps. Just enter the details of your previous two wheeler insurance policy on the website and get yourself a new policy instantly
No Claim Bonus or NCB is the discount that you will be eligible on the premium for the next policy year when you have not made a claim against your Bajaj Allianz two wheeler insurance in the existing policy year. This discount rate increases substantially on every consecutive claim free year.
