Bajaj Allianz Car Insurance
Bajaj Allianz General Insurance Company Limited began its operations in 2001. It is a joint venture between Bajaj Finserv Limited and world’s leading insurer Allianz SE. Bajaj Allianz has its presence in more than 800 cities across India. Bajaj Allianz claim payment ability has been recognized was recognized with iAAA rating by ICRA for 11 years consecutively. It reflects positively on companies incurred claim ratio, which is 78.50 % for the year 2015-2016.
Advantages of Bajaj Allianz Car Insurance –
- Digitally enabled processes
- PAN India Service
- 24*7 customer assistance
- Customised insurance plans
- Quick and seamless claims Settlement
The company has the some of the best customer reviews when it comes to car insurance in India.
Bajaj Allianz Car Insurance Plan at a Glance –
|Incurred Claim Ratio||78.50 %|
|CNG Kit Cover||Optional|
|No-claim Bonus Transfer||Maximum up to 50%|
|Zero Depreciation Cover||Optional|
Why Bajaj Allianz Car Insurance?
Amid the increasing number of vehicles on the road, it is imperative to have an adequate car insurance plan, if you do not want to face the financial wrath of a car accident or collision. Exorbitant repairing costs and the cost of replacing damaged parts can definitely disrupt your monthly budget.
Bajaj Allianz Car Insurance Plan will take care of such expenses, thus saving you from financial troubles in the event of your own car damage or third-party vehicle or property damage.
Depending on the plan your purchase and features that are included- like personal accident cover, theft cover, loss or damage caused due to man-made disasters and natural calamities, the premium are calculated. There are optional covers available, wherein you can opt for roadside assistance, conveyance benefits, repairing assistance at network garages and lot more. Bajaj Allianz Car Insurance policy is for private cars only.
|Benefits of Purchasing Bajaj Allianz Car Insurance Policy||
|General Inclusions in Bajaj Allianz Car Insurance Policy||
Applicable Deduction Rates (for parts replaced)
- 50% deduction rates applicable to nylon, rubber or plastic parts, tubes, tires, batteries, and airbags
- 30% deduction applicable on fiberglass components
- No deduction applicable on glass made parts
For other parts, the rate of depreciation is as follows –
|Age of the Vehicle||Depreciation|
|Not exceeding 6 months||Nil|
|6 months to 1 year||5%|
|1 year to 2 years||10%|
|2 to 3 years||15%|
|3 to 4 years||25%|
|4 to 5 years||35%|
|5 to 10 years||40%|
|More than 10 years||50%|
Additional Covers Available in Bajaj Allianz Car Insurance Policy
To ensure coverage in the time of crisis, you can get the following add-on covers in your Bajaj Allianz car insurance plan –
- Personal Baggage Cover – In the event of any loss or damage caused to the personal belongings that are kept in the car, then it shall be reimbursed ass part of the Bajaj Allianz motor insurance policy.
- 24×7 Roadside Assistance – Emergency roadside assistance is provided all Conveyance benefit -over India to the insured member. It includes assistance in the event of car battery damage, flat tire, breakdown due to an accident and similar circumstances.
- Jumpstart the Battery – If the battery of the insured vehicle runs down, Bajaj Allianz will arrange help to jump-start the engine, to help it reach the nearest workshop for further assistance.
- Lock and Key Replacement Cover – If the car keys are lost or left inside the car, assistance will be provided to recover the same, which includes the cost of new keys and locks.
- Expenses Incurred on Replacing/Replenishing the Consumables – The Bajaj Allianz car insurance plan includes expenses incurred in replacing or repairing the engine oil, coolant, brake oil, gearbox oil, following an accident.
- Accident Cover – In the event of accidental death, bodily injuries or permanent disabilities caused to the occupants riding in the insured vehicle ( other than a hired driver)
- Conveyance benefit – If the insured car is getting repaired in a networking workshop after an accidental damage, the policyholder will get ‘per day’ cash benefit, basis on the plan opted.
Bajaj Allianz Car Insurance Plan Table
|Basic Third Party Liability||Available||Available||Available|
|Own Damage Premium||Low||Regular||Enhanced|
|Coverage for Electrical accessories||Optional||Optional||Optional|
|PA-Cover for Owner/Driver||Available||Available||Available|
|PA-Cover for co-passenger||Optional||Optional||Optional|
|Coverage for Non-Electrical accessories||Optional||Optional||Optional|
|CNG Kit Coverage||Optional||Optional||Optional|
|Depreciation Shield||Not available||Not available||Available|
|Voluntary Deductible – Save Premium||Optional||Not available||Optional|
|24/7 Roadside Assistance||Available||Available||Available|
|Engine Protector||Not available||Not available||Available|
Sum Insured – Insured’s Declared Value (IDV)
- The Insured’s Declared Value (IDV) is the maximum sum insured to be provided by the car insurance provider in the event of total loss or damage or theft of the insured vehicle. Basically, it is the current market value of the vehicle, on which the premium is calculated at the time of policy renewal or purchase.
- The IDV of a car with fitted accessories is to be calculated at the time of policy purchase or renewal on the basis of the selling price listed by the manufacturer of a particular brand and model. The depreciation is also adjusted on the basis of the car age as mentioned in the table below. It is applicable for claims arising out of total loss or constructive total loss only.
Depreciation applicable while fixing the IDV on the basis of the age of the vehicle –
|Car Age||Depreciation (%) For Fixing IDV|
|Up to 6 months||5%|
|Exceeding 6 months but not exceeding 1 year||15%|
|6 months to 1 year||20%|
|1 year to 2 years||30%|
|2 to 3 years||40%|
|3 to 4 years||50%|
- Vehicles that are more than 5 years old or models that are no longer manufactured, there IDV is calculated on the mutual understanding between the insurance provider and the policyholder
- In case of total Loss or constructive total loss claims, IDV should be considered as the ‘Vehicle’s Market Value’ throughout the policy tenure without applying the depreciation value
Note – the Constructive total loss is when the aggregate cost of loss or repair comes out to be more than 75% of the IDV of the vehicle. This is subjected to policy terms and conditions
Bajaj Allianz Car Insurance Premium Calculator – Calculate your Car Insurance Premium within seconds. Provide your car registration number online on their site and get instant quote
Understanding Bajaj Allianz DriveSmart Service
- DriveSmart Telematics Device is the vehicle tracking system introduce by Bajaj Allianz to its customers in India.
- It is an added benefit that comes with Bajaj Allianz car insurance policy, which helps in monitoring the driving pattern and behavior of the one who is driving the car, along with the condition of the car’s battery and engine.
- Moreover, one can keep a track of the vehicle and easily locate it, thus ensuring complete safety and security.
Benefits of Opting for Bajaj Allianz DriveSmart Service with Car Insurance Policy
Opting for DriveSmart service with vehicle insurance has the following benefits –
- Easy to Check Car’s Working Condition- It helps in diagnosing the condition of your car’s engine and battery.
- Monitoring Pattern of Driving- Get a summary of the total distance traveled in a day, the maximum speed at which the car was driven, braking pattern, the longest trip took, and similar statistics.
- Vehicle Tracking- It provides you the details of the last location along with navigation details of your car. The location can easily be shared via SMS, Whatsapp, and email.
- Personalization of Routes – It can help you create personalized trips, which you can see on a map, and provides interesting route statistics shares interesting statistics about the route, which you can share on social media.
- Emergency Notification – It provides notification in case of over speeding, low battery indication, alerts about the date of servicing date, the expiry of driving license etc.
- Help and Support – For any automobile related queries you can seek expert advice through the DriveSmart Telematics Device
Claim Procedure for Bajaj Allianz Car Insurance
Whether there is a breakdown or accident, the claim procedure process is as follows –
- In the event of an accident or theft of the insured car, immediately register a claim
- You can register the claim online, over email or by contacting on their Toll-free number – 1800-209-5858
- Once connected Bajaj Allianz car insurance team will take you through the entire Car Insurance claim procedure
Keep the following documents handy while registering a Bajaj Allianz car insurance claim-
- Date and time of the accident
- Car engine and chassis number
- Vehicle inspection address
- Location and description of the accident
- Kilometer Reading
- Copy of FIR in case of theft or police report in case of an accident
It is important to file a police complaint in case of theft, along with other required documents at the time of registering the claim.
Send Your Car for Repair, If Required
In the event of a car collision, vandalization, or accidental damage, take it to the nearest garage for repair or if it is immovable get it towed to a garage in your vicinity.
Claim Settlement Final Process
- Provide all the copies of the documents to the registered workshop where your car is getting repaired and get all the document copies verified with the originals.
- Once this is done, the Bajaj Allianz car insurance team will make the payment for the car damage repair to the network garage once it is completed.
- All the excessive payments to be made by the policyholder including the salvage, depreciation amount, which will be informed to you by their assessor.
- If the damage of your car can be repaired on the spot you can take on the spot Bajaj Allianz Mobile settlement service.