Bajaj Allianz Two Wheeler Insurance Plan is one of the famous bike insurance policies available in India which provide complete protection against theft, physical damage, third-party liability etc. Moreover, it also covers the damages owing to natural and man-made calamities, repair expenses of which can easily burn a hole in your pocket.
Bajaj Allianz, a joint collaboration between Allianz SE and Bajaj Finserv Limited. The insurer especially offers long-term two wheeler insurance plans that cover your vehicle for a longer period with a huge network of cashless garages and speedy claim settlement, the insurance assistance offered by the insurer is at per duty of volume.
Let’s have a detail look at Bajaj Allianz Two Wheeler Insurance here:
Key Features of Bajaj Allianz Two Wheeler Insurance
- Insure your bike once and stay financially secured for up to 3 years.
- It offers hassle-free claim settlement volume.
- simple and quick steps to buy two wheeler insurance online.
- 24×7 customer service and claim support.
- Zero Depreciation cover to acquire the complete value of your vehicle.
Bajaj Allianz Two Wheeler Insurance- Inclusions & Exclusions
|Damage or loss of your bike due to natural calamities such as fire, explosion, earthquake, self-ignition or lightning, storm, flood, cyclone, typhoon, hurricane, tempest, hailstorm, landslide, frost, inundation, and rockslide||Normal wear and tear or loss due to depreciation|
|Loss or damage owing to other unanticipated events such as burglary, theft, strike, riot, terrorist activities, malicious acts or other damages owing to accidental-external means is covered||If the vehicle is used for the other purpose that is excluded in the policy document i.e. for commercial purpose|
|Personal Accidental cover of Rs 15 lakh for the owner-driver while driving the vehicle and meet an accident||If the driver is riding without a valid licence|
|Optional accident cover for passenger riders||Damage due to war, war-like situation, nuclear risk etc.|
|Loss of the accessories owing to burglary, breaking of the house or theft|
|Damages to the consumables such as tyres, tubes where the liability of the company to reimburse the amount up top 50% of the cost of replacement|
Long Term Bajaj Allianz Two Wheeler Insurance Policy
Selective insurers have introduced long-term two wheeler insurance and Bajaj Allianz in one of them. With long-term two wheeler insurance of Bajaj Allianz, you can keep your precious buy protected for a longer period of two to three years. You can avoid the unplanned expenses that may arise out of an accident, natural disaster and so on. Simply put, with this plan you can remain stress-free of renewing your plan every year. The plan comes with certain perks:
- Now you can transfer up to 50% of your existing No Claim Bonus from another insurer to Bajaj Allianz by availing two wheeler insurance online
- 24×7 customer support is always at your service
- It requires no inspection of your bike to renew it online, in case your Bajaj Allianz two wheeler insurance policy is expired.
- The hassle of renewing the policy every year gets eliminated where you can renew the policy once in 2 or 3 years.
- With a Bajaj Allianz long-term two wheeler insurance, you can avoid third-party premium hikes every year. This way you can save on your premium.
- The NCB benefit doesn’t become nil even after you make a claim request during the policy tenure. However, it gets reduced to a certain amount.
Short-term Vs Long-term Bajaj Allianz Two Wheeler Insurance
|Features||Long-term Two Wheeler Insurance
Short-term Two Wheeler Insurance
|Coverage tenure||2-3 years||1 year|
|NCB benefit||Add-on benefits when the policy renewal is due||As per the current tariff|
|Renewal||In two or three years||Once in every year|
|NCB benefit after a claim||NCB reduces but doesn’t become zero||NCB becomes nil once a claim is made|
|Premium Hike||No effect on the third party premium during the policy tenure||Third party premium increases with every renewal|
|Cancellation refund||Proportional refund is offered||No refund is paid in case of mid-term policy cancellation|
Bajaj Allianz Two Wheeler Insurance Claim Process
Whether your prized passion meets with an accident or majorly collapsed, you would except an easy and hassle-free claim settlement rather a long or cumbersome one. In this regard, Bajaj Allianz two wheeler insurance ensures a claim settlement process that takes less paperwork and time. To claim your insurance with Bajaj Allianz, follow the below-mentioned steps:
1. Inform the Insurance Company
Immediately inform the insurer by registering a claim online by visiting the official website. You can register the claim on phone as well by dialling the toll-free number. This will connect to the 24×7 customer support of the insured.
2. While registering a claim you should keep the below information handy:
- Time and date of the accident
- Chassis and engine number
- Brief explanation and place of the accident
- Address of the garage where the vehicle is sent for inspection
- Kilometre reading
- Police FIR in case of theft/third party claim
Note: If it is a case of theft then lodge an FIR with a delay. Because without this, your claim process is incomplete and you might have to present the FIR along with other documents as well.
3. Arrange for Towering Your Bike for Repair
Whether your set of wheels meets with an accident and get damaged or vandalised, you will require to take it to the workshop for inspection.
4. The Last Step for claim settlement
At the final stage, you will need to submit all the relevant papers to the insurer for verification. For verification, original documents will be required as well. Bear in mind that, you’ll require to bear the additional expenses as per the policy norms which are not covered by the insurer such as depreciation cost, salvage etc.
Bajaj Allianz Bike Insurance Claim Settlement Documents
Bajaj Allianz two wheeler insurance facilitates you with easy claim process and 24×7 claim support whenever you need to claim your two wheeler insurance. If your insured vehicle is stolen or damaged, you’ll need to file a claim by filling the claim form and submitting the below documents:
- Duly filled and signed the claim form
- Policy document and copy of cover note
- Photocopy of the RC book of the vehicle
- Photo copy of repair bills
- A photo copy’s licence of the driver
- Police FIR if it is a theft case/death of a third party
In case it is a claim of total loss owing to an accident or theft, you will have to present-
- The original copy of two wheeler insurance policy
- RTO transfer papers
- NOC (No-objection Certification) from the financer or bike owner for transfer the vehicle
- Original keys of the vehicle
- Letter of subrogation with the stamp of Rs. 100
- Indemnity letter with stamp paper of Rs. 100
After submitting all of these documents, the insurer takes 15 days to release the claim amount.
Bajaj Allianz Two Wheeler Insurance Renewal Online
Bajaj Allianz two-wheeler insurance is a comprehensive policy that provides atmost protection to your prized possession. The best thing is that you can easily buy and renew this policy online. Bajaj Allianz General Insurance offers 5 simple steps to renew your Bajaj Allianz two wheeler insurance.
- Step 1: If you are an existing customer, then you’ll have to provide some of your personal information such as mobile number, vehicle registration number, policy number, email address etc. You will be navigated to the next step after a simple verification.
- Step 2: The related information will be displayed and you need to verify it.
- Step 3: After submitting all the information, the premium to be paid for renewing the policy will be displayed. You can pay the same by using a credit card or net banking.
- Step 4: Once you pay the premium, the dispatch details will be conveyed to you and an online document will be generated.
- Step 5: A welcome letter will be sent to you confirming that the policy has been renewed. With this, the renewal process ends and you can enjoy policy benefits uninterruptedly.
Bajaj Allianz Two Wheeler Insurance Premium Calculator
Now you can calculate your insurance premium amount even before you purchase two wheeler insurance from them. This can be done within a few seconds through Bajaj Allianz two wheeler insurance premium calculator. All you have to do is fill the necessary information and calculate your premium instantaneously. Here are the steps to calculate your premium with two wheeler insurance premium calculator:
- Enter the registration number of your bike in the given section and click on ‘Get a Quote’.
- Fill some relevant details related to the bike like > Select bike brand > click ‘Proceed’ > select model of the vehicle > click ‘Proceed’ > choose the bike subtype > click ‘Proceed’.
- Residence city and submit
- Registration year of your vehicle
- Select your personal information to get the quotes, like name, contact number, email address or pin code etc.
- After providing the entire information, click on ‘Submit’ button to get the required quotes.
With Bajaj Allianz Two Wheeler insurance, show the ultimate care to your asset and keep your finances secure!
Bajaj Allianz Bike Insurance FAQ’s
What is IDV under Bajaj Allianz Bike Insurance?
When you insure your prized passion with Bajaj Allianz two wheeler insurance, the actual value of your vehicle or IDV will be calculated. IDV is also termed as ‘sum insured’ for this policy. The rate of IDV is decided at the beginning of the policy tenure, based on the manufacturer’s listed selling price. With the age of the vehicle, IDV of your bike tends to depreciate.
The below table shows the depreciation rate of a two-wheeler listed below:
Age of the Bike
|Below 6 months||Nil|
|>6 months but <1 year||5%|
|>1 year but <2 year||10%|
|>2 years but <3 year||15%|
|>13year but <4 year||25%|
|>4 years but <5 year||35%|
|>5 years but <10 year||40%|
|More than 10 years||50%|
Can I do Bajaj Allianz Bike Insurance Renewal Online?
Yes, you can renew your Bajaj two-wheeler insurance plan online.
The process of Bajaj Allianz Bike Insurance Renewal is quite straightforward. All you need to do is visit their site, enter all your previous policy details and your policy will get renewed within a few minutes.
What happens if my Bajaj Allianz two wheeler insurance expires?
If your Bajaj Allianz bike insurance policy expires then you will no longer be able to avail the policy benefits. Some of the drawbacks are listed below-
- Invalidation of No-claim-bonus
- Third party liability risks are not covered
- Cost of your bike repairs have to be borne by you as your bike insurance policy won’t cover it
Can I transfer my Bajaj Allianz bike insurance ownership?
Yes, the ownership of your Bajaj Allianz bike insurance policy can be transferred in the same of another person. All you need to do is transfer all the documents in the name of the new owner.
Inform both the RTO and Bajaj Allianz Two Wheeler Insurance Company about the transfer of ownership. However, your No-claim-bonus cannot be transferred to the new owner.
How much time does it take for my Bajaj Allianz bike insurance policy copy to arrive?
The insurer will courier a hard copy of your Bajaj Allianz two wheeler insurance policy to your registered address. Usually, it takes up to 10 days. In the meanwhile, you can get a soft copy on email once the payment is done and the policy is issued.
You can also download it from their site by entering your Bajaj Bike Insurance issuance number.
Can the benefits of No-claim-discount be transferred from the previous insurer?
Yes, it is possible to transfer your NCB accrued from the previous insurer to your Bajaj Allianz long-term bike insurance policy. The limit of NCB is up to 50 percent.