One thing stands as a steadfast necessity for automotive ownership – insurance. It's like a safety net for your vehicle. However, finding a reliable insurance provider for car owners can be as daunting as dealing with rush-hour traffic. Among several insurers available to choose from, one name that often surfaces as a symbol of trust and reliability is Bajaj Allianz car insurance.
Once you've decided on Bajaj Allianz, figuring out what to do next might feel confusing. That's where this guide comes in handy. We're here to make the process of buying or renewing your Bajaj Allianz car insurance simple and clear.
About Bajaj Allianz General Insurance Company
Bajaj Allianz General Insurance Company Limited is a joint venture between Allianz SE (world's leading insurer) and Bajaj Finserv Limited. The insurance company was officially registered by the Insurance Regulatory and Development Authority of India (IRDA) on May 2nd, 2001, starting its journey to offer comprehensive general insurance solutions across the nation.
Today, Bajaj Allianz General Insurance holds a prominent position as one of the largest private insurers in India, with a widespread presence spanning over 1100 towns and cities. Currently, it serves customers' most valued assets - health, homes, vehicles, and businesses. It caters to individuals across all demographics and the corporate sector with its insurance products and services that extend beyond insurance coverage.
Key Features of Bajaj Allianz General Insurance
- Both third-party and comprehensive coverage available
- Claim Settlement Ratio (CSR) of 98%
- Personal accident insurance of up to Rs. 15 Lakhs
- 7200+ network garages to offer a cashless facility
- Two zero depreciation claims allowed
- Unlimited comprehensive claims allowed (as per policy terms)
Benefits of Choosing Bajaj Allianz Car Insurance
Bajaj Allianz car insurance policies offer multiple benefits to ensure a safe and secure journey for policyholders. Let's explore some of the key advantages:
High Claim Settlement Ratio
Bajaj Allianz has an impressive 98% CSR for car insurance policies. This number reflects the company's commitment to ensuring a hassle-free claim settlement process for its customers.
Add-on Benefits
The motor insurance offerings from Bajaj Allianz include various add-on benefits that policyholders can opt for to enhance their coverage. These additional benefits provide extra layers of protection and customization to suit individual needs.
Convenient Online Services
Bajaj Allianz offers most motor insurance services online, embracing the digital era. This means less paperwork, quicker resolutions, and efficient experience for policyholders.
Swift Claim Processing
With Bajaj Allianz car insurance, policyholders can expect faster claim processing. The claims process is hassle-free, enabling them to get back on the road with minimal delay.
No Claim Bonus (NCB)
Bajaj Allianz rewards safe driving behavior by offering a NCB of up to 50% to policyholders who haven't made any claims during the policy term. This bonus is applicable within Bajaj Allianz and can be transferred to other insurers, providing flexibility and added value to car owners.
Types of Bajaj Allianz Car Insurance Policies
Bajaj Allianz General Insurance provides multiple types of car insurance policies tailored to meet distinct needs of customers, including:
Third-Party Car Insurance
This type of insurance covers damages caused to a third party's property or person by your vehicle. It is the minimum legal requirement for car owners in India and helps protect you from financial liabilities arising from accidents involving your vehicle.
Comprehensive Car Insurance
Bajaj Allianz also offers comprehensive car insurance policies that provide extensive coverage for damages to your vehicle due to accidents, theft, natural disasters, or vandalism. It offers a broader scope of protection beyond third-party liabilities.
Standalone Own Damage Car Insurance
This type of policy focuses solely on covering damages to your vehicle without including third-party coverage. It is ideal for those who have already purchased third-party liability coverage separately or those seeking to enhance their existing coverage.
Usage-Based Car Insurance
Bajaj Allianz also offers innovative usage-based car insurance policies that calculate premiums based on how often and how well you drive the vehicle. This type of policy utilizes telematics technology to track driving behavior, allowing for personalized premium rates that reflect the actual risk posed by the driver.
Bajaj Allianz Car Insurance Add-Ons
You can include a variety of add-ons to Bajaj Allianz car insurance policies to enhance the coverage and protection offered. Here are some of the key add-ons available:
Depreciation Shield
This add-on helps minimize the impact of depreciation on the value of your car in case of repairs or replacements after an accident. It ensures you receive higher compensation for parts that have depreciated over time.
Engine Protector
With this add-on, you can safeguard your car's engine against damages caused by leakage of lubricating oil, water ingression, or hydrostatic lock. It provides additional financial protection for this crucial component of your vehicle.
24x7 Spot Assistance
Bajaj Allianz also offers round-the-clock spot assistance to its car insurance policyholders. This add-on ensures you receive timely roadside assistance in case of emergencies such as flat tires, breakdowns, or accidents, providing you with peace of mind on the road.
Key and Lock Replacement
This Bajaj Allianz car insurance add-on offers convenience and financial protection in situations where access to your car is compromised. If you lose your car keys or if they are stolen, it covers the cost of replacing the keys and locks of your vehicle.
Personal Baggage
This car insurance add-on provides coverage for the loss or damage of personal belongings kept inside your car, such as luggage, gadgets, or valuables. It extends the protection offered by your car insurance policy to include items that are not typically covered under standard insurance.
Consumable Expenses
With this add-on, the insurer reimburses the cost of consumable items, such as engine oil, coolant, etc., that are used during repairs of your insured vehicle. It helps alleviate the burden associated with routine maintenance and repairs.
How to Buy Bajaj Allianz Car Insurance?
You can purchase a Bajaj Allianz car insurance policy from the company's official website or via RenewBuy. Below are the steps involved in buying a new car insurance policy:
Steps to Buy Bajaj Allianz Car Insurance from the Official Website
- Go Bajaj Allianz General Insurance’s official website and navigate to the ‘Car Insurance’ page.
- Browse through the available car insurance plans and choose the one that best suits your requirements.
- Provide all the necessary information required to purchase the insurance policy.
- Once you've filled in the required information, click ‘Buy’ button to proceed with the purchase.
- Follow the prompts to complete the payment process securely.
- After successful payment, the insurance company will send the policy documents at your registered email address.
Steps to Buy Bajaj Allianz Car Insurance from RenewBuy
- Land on our official website and navigate to the ‘Motor Insurance’ menu at the top.
- Select the ‘Car Insurance’ option from the menu.
- Provide the necessary details in the form, including your vehicle information and personal details.
- Compare the available car insurance plans and choose the one that meets your requirements.
- Once you've selected the desired plan, proceed with buying the plan and make the payment online.
- Upon successful payment, you will receive the policy documents on your registered email address.
Steps to Renew Bajaj Allianz Car Insurance
Renewing Bajaj Allianz car insurance policy becomes easy with RenewBuy for continuous protection of your vehicle. Here are the steps involved to renew your car insurance:
- Visit our official website and navigate to the menu dedicated to car insurance renewal.
- Fill in the necessary details regarding your existing car insurance policy. This typically includes your policy number, vehicle registration details, and any other required information.
- Take a moment to review the details of your current policy to ensure accuracy and completeness.
- RenewBuy may offer you different renewal options or plans. Take the time to compare these options and choose the one that best fits your needs.
- Once you've selected the renewal option that suits you, proceed to confirm the renewal by clicking on the appropriate button or link.
- Follow the prompts to make the payment to renew your car insurance policy.
- After successful payment, you will receive a confirmation of your car insurance policy renewal. We will then send the renewed policy documents to your registered email address or provide access to download them directly from their website.
How to File a Claim Under Bajaj Allianz Car Insurance?
Filing a claim under your Bajaj Allianz car insurance policy requires you to follow the generic steps given below:
Inform the Insurer
Promptly notify Bajaj Allianz General Insurance Company about the incident to initiate the claim process. You can register the claim online, via email, or by calling their toll-free number.
Furnish Documents
Complete the claim registration form and submit all required documents. Ensure you have all relevant paperwork readily available.
Get the Car Inspection Done
Following claim registration, a Bajaj Allianz car insurance surveyor will inspect your vehicle for the incurred damages.
Proceed with Claim Processing
After inspection, the vehicle will undergo repairs, with Bajaj Allianz coordinating payment to the Bajaj network garage. If you choose to get the repairs conducted at a non-network garage, you can share the bill, and the insurer will reimburse you accordingly.
Documents Required to File a Claim Under Your Car Insurance Policy
You will need the following documents handy while filing a claim under your Bajaj Allianz car insurance policy:
- Duly filled claim form
- FIR copy
- Car insurance policy document
- Valid driving license
- RC copy
- Repair bills and payment receipts
Disclaimer:
The information provided here regarding insurance products, companies, and other schemes is for general informational purposes only and is subject to change according to the insurer's terms without prior notice.