Founded in 2001, Bajaj Allianz is a private company that was formed following a joint venture between Bajaj Finserv Limited and Allianz. Bajaj Allianz offers products such as Health Insurance, Car Insurance, Travel Insurance, Home and Marine Insurance.
|Third-Party Cover||Up to Rs.7.5 lakhs|
|Cashless Network Garages||4000+|
|Incurred Claim Ratio 2017-18||62.20%|
|Net Earned Premium||Rs.3662.67 crore|
Listed below are some of the key features and benefits of availing a car insurance policy from Bajaj Allianz:
Listed below are the steps customers need to take to avail a car insurance from Bajaj Allianz:
Bajaj Allianz offers vehicle owners the choice between the liability-only car insurance and the comprehensive car insurance policy:
The liability-only insurance is the basic third-party car insurance. This policy offers coverage to the third-party involved in the accident and comes with coverage for damages caused to the third-party vehicle. That said, with this insurance policy, the policyholder will have to cover expenses from his/her own pocket for damages caused to his/her car. The third-party insurance policy is mandatory as per the Motor Vehicles Act, 1988.
The Bajaj Allianz comprehensive car insurance policy offers coverage for both the third-party and the policyholder. It covers damages caused to the vehicle and in addition, offers coverage if the car of the policyholder is damaged following a natural calamity, a fire, riot, strike or a terrorist activity or if the car is stolen. The policy also comes with the personal accident cover up to Rs.2 lakh, if the policyholder suffers from any bodily injury or disability following an accident. The personal accident cover also offers a payout to the dependent of the policyholder if he/she dies following an accident.
|Hassle free claim settlement|
|24/7 customer support|
|Car tracking & monitoring|
|High service standards|
|24/7 roadside assistance|
Listed below are the add-on covers offered by Bajaj Allianz car insurance:
|Theft or loss of keys||Valid only in India|
|Loss of personal belongings||Accident due to intoxication|
|Tyre damage||Depreciation or consequential life|
|NCB||Mechanical or electrical breakdown|
|Engine repair & replacement||Wear & tear of consumables|
|Roadside assistance||If damage is caused by a person driving under the influence of alcohol|
|Personal accident cover||If damage is caused by a person driving without a valid license|
|Third party liability||Risks due to nuclear leaks, attacks, war|
With a strong and reliable network of more than 4000 network garages, Bajaj Allianz provides high quality cashless servicing to customers. To find the nearest garage in your city or locality log on to the website to view a comprehensive list of the details.
Be it a minor breakdown, theft, accident or fire, the process to file a claim is not complicated or lengthy. There are many ways to register a claim. The policyholder can either make a call to the 24/7 customer support team through the toll-free number or even file a claim online. If you choose to call the toll-free number, a customer care executive will be assigned to take you through the entire process of filing a claim. In case of an accident or a theft, it is advisable to file a police complaint as soon as possible. Also it is important to keep some basic details handy while making a claim. The following are the required information:
|Date/time of accident/theft/fire|
|Location of accident/theft/fire etc|
|Engine and chassis number|
Claims for cashless settlements can be availed at network garages across the country. Below is the procedure to file a cashless claim:
Apart from the fact that a third-party car insurance policy is mandatory as per the Motor Vehicles Act, 1988, a car insurance policy offers financial protection to the policyholder following an accident. The basic third-party insurance policy covers damages caused to the vehicle of the third-party while the comprehensive car insurance policy offers coverage for the policyholder as well as the third-party. It also offers compensation if the car is stolen or is damaged following a natural calamity, if it catches fire, or if it is damaged following a strike or a riot, etc.
Once the policyholder raises a claim for coverage, the insurer will investigate the cause of the accident, damage to the car or the reason why the car has broken down. If the cause of the damage to the car is due to the fault of the driver or the policyholder, then this is deemed as consequential loss and the claim will be rejected by the insurer. Some instances of consequential losses are if the accident was caused because the driver was under the influence of drugs or alcohol, or if the driver attempts to drive the car through a water-logged area, leading to a hydrostatic lock and engine seizure.
The claim amount is decided by the insurer based on the current market value of the car or the depreciation factor of the vehicle. The Insured Declared Value (IDV) is taken into consideration and based on this, the coverage for the damages caused to the vehicle are paid to the policyholder.
The cashless claim settlement can be an option only if the policyholder gets the car repaired at a network garage of Bajaj Allianz following an accident. If so, the coverage for the damages is settled between the network garage and Bajaj Allianz. If the car is repaired at a garage that is not listed by Bajaj Allianz, then the policyholder will have to go for the reimbursement claim settlement. The coverage for the damages will be reimbursed following the submission of the bills and other relevant documents.
The most convenient method is to buy a car insurance policy from Bajaj Allianz online on their website. The policyholder can renew his/her policy online as well. The payment can be made via the policyholder’s debit card, credit card or net banking account.
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