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 –

Features  Highlights
Incurred Claim Ratio 78.50 %
Network  Garages 4000+
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
  • Car repairing assistance in more than 4000 network garages where you can get cashless claim settlement
  • Option to choose 24×7 emergency roadside assistance, which is just a call away
  • 24×7  claim assistance through SMS, emails, and phone call, even on holidays
  • Track and monitor your vehicle with Bajaj Allianz DriveSmart Service
  • Transfer of no-claim bonus from previous policy (maximum up to 50%)
  • Option to choose zero depreciation to cover  an add-on cover benefit
  • Avail towing assistance in case of vehicle breakdown or collision
General Inclusions in Bajaj Allianz Car Insurance Policy
  • Personal Accident Cover – In the event of an accidental death or permanent disabilities arising due to an accident, up to Rs. 2 lakhs shall be reimbursed to the insured or to the legal heirs of the policyholder.
  • Loss or damage to the insured car resulting from man-made calamities – It covers the damage caused to the insured car due to the following reasons – theft, strike, terrorist activity, malicious act, burglary, and any damage that has taken place in transit by rail, road, air, inland waterway, lift or elevator.
  • Loss or damage caused to the car from any natural disaster – This includes damage resulting from self-ignition, fire, flood, earthquake, cyclone, hurricane, inundation, landslide etc.
  • Third-Party Legal Liability – Any legal liabilities arising due to accidental loss or damage caused to a third-party property, vehicle or person including accidental death or injuries.

 

Exclusions
  • Routine wear and tear of the insured car
  • Driving the vehicle without a valid driving license
  • Driving under the influence of alcohol, drugs or any other intoxication
  • Mechanical or electrical breakdown of the car
  • Depreciation of the vehicle
  • Any consequential loss
  • Wear and tear of tubes and tires unless the damaged is caused to the vehicle at the same time. In such cases, only 50% of the damage will be reimbursed by the insurer
  • Loss or damage to the vehicle resulting due to war conditions, nuclear attacks or mutiny
  • To know more about exclusions refer to policy wordings

Applicable Deduction Rates (for parts replaced)

  1. 50% deduction rates applicable to nylon, rubber or plastic parts, tubes, tires, batteries, and airbags
  2. 30% deduction applicable on fiberglass components
  3. 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

Parameters Best Value Standard Flexible
Premium Cost Low Regular Enhanced
Basic Third Party Liability Available Available Available
Coverage Low Regular Enhanced
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
NCB Discount Optional Optional Optional
CNG Kit Coverage Optional Optional Optional
Driver Cover 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 CalculatorCalculate 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 –

Claim Registration

  • 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. 

Bajaj Allianz Car Insurance FAQS

Q1. What are the benefits of purchasing a Bajaj Allianz car insurance policy online?

If you buy a car insurance policy online-

  • You can avail certain discounts online
  • It’s easy to compare a number of car insurance plans from different car insurance providers
  • Quick and hassle-free claim intimation and settlement process

Q2. What is a No-Claim-Bonus in car insurance?

The insured is entitled to a no-claim-bonus for all the claim free years. It is the discount on the car insurance premium that is provided to the insured at the time of policy renewal.

Q3. What are the benefits of add-on covers in a Bajaj Allianz car insurance policy?

There are several benefits that one can get with add-on covers by paying an additional premium amount. Some of the benefits are listed below-

  • Conveyance benefit is provided, which includes cash benefit on daily basis after the acceptance of the claim. This is applicable if the insured car is getting repaired in a garage after an accident.
  • 24×7 roadside assistance, which includes flat tyre repair assistance, car breakdown cover, jump start for a car battery, and assistance under any such emergency situations
  • Personal baggage cover, which includes reimbursement of the loss and damage caused to the belongings kept in the insured vehicle
  • In case of an irreparable loss of car keys or a security risk arising out of the loss of the keys, lock and key replacement service is provided
  • Personal accident cover, which includes accidental death, total permanent disabilities and  bodily injury resulting from an accident while traveling in the insured car
  • Covers consumable expenses incurred on the purchase or replacement of consumables such as coolant, Engine oil, Power steering oil, Gearbox oil, Brake oil, following an accident

Q4. Can I transfer my NCB when I switch my Bajaj Allianz car insurance policy?

No-claim bonus can be transferred while switching your car insurance provider. It depends on the number of claim free years, as it reflects positively on your driving record and car maintenance. No claim bonus is not applicable to third party damages.

Q5. What is a comprehensive car insurance policy?

A comprehensive car insurance policy offers protection to your car against theft, collision and accidental damage. It also includes damage resulting due to fire, earthquake, floods etc. It also covers third-party liability damage.

Q6. What is the significance of Insured Declared Value or IDV while calculating car insurance premium?

IDV is the current market value of a vehicle that you get after deducting the depreciation on its parts. The registration cost of the vehicle is also excluded. The IDV of non-factor fitted parts is calculated separately.

Q7. What do you mean by compulsory deductibles?

It is the amount that the insured needs to pay from his/her own pocket. For instance, in the event of an accident, the cost of repair comes up to Rs. 10,000 then as mentioned in the documents, the insurance company will pay 8,000 and remaining amount i.e. the deductibles will be paid by the policyholder.

Q8. What is zero depreciation in car insurance?

Zero depreciation is provided in comprehensive car insurance. In case of an accidental damage or collision, the insurance company will compensate the entire cost without any deductions. One can buy it as an add-on cover at the time of policy purchase. 

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