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Bajaj Allianz Car Insurance
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Bajaj Allianz Car Insurance Highlights
Bajaj Allianz General Insurance Company Limited is a joint venture between Allianz SE, the world’s leading insurer, and Bajaj Finserv Limited. The Company received the certificate of registration from IRDA on 2nd May 2001 and is one of the largest private insurer in the industry today, with offices in over 1100 towns and cities. The company recently changed its brand identity to ‘Caringly Yours’ and aims not just to take its service to the next level, but also seeks to provide the best customer experience at every touchpoint and make insurance a pull rather than a push product.
Claim Settlement Ratio
Reimbursement -3 working days after document submissions - 50% advance cash on parts only without GST (labor not included) liability should be above 1 lakh - 6 months accidental repair warranty not eligible on replaced parts - Zero Paper Claims
- Reimbursement -3 working days after document submissions - 50% advance cash on parts only without GST (labor not included) liability should be above 1 lakh - 6 months accidental repair warranty not eligible on replaced parts - Zero Paper Claims
Available upto Rs 30,000
Available upto 50%
24*7 Road Assistance (radius - 100 km from city center of customer residence)
- 24*7 Road Assistance (radius - 100 km from city center of customer residence)
Bajaj Allianz General Insurance Company is a joint venture company between Bajaj Finserv Limited and Allianz SE with 74% and 26% stake respectively. The company received a certificate of registration from the Insurance Regulatory and Development Authority on 2nd of May, 2001. The company has an authorised and paid-up capital of INR 110 crores. Bajaj Allianz has received a rating for iAAA for consecutive years from ICRA indicating the company’s highest claim paying ability and fundamentally strong position. Bajaj Allianz has been recognised as one of the most trusted Insurance Companies in the Brand Trust Report India Study, 2016. The company has a profit before tax of INR 1,078 crores and profit after tax of INR 728 crores as on 31st March 2020. It has reported a GWP of INR 7,687 crores. The company offers solutions for all your general insurance needs including car insurance.
Types of Bajaj Allianz Car Insurance
Bajaj Allianz is one of the most popular car insurance providers in India with a claim settlement ratio of 98% in the year 2019-20. It offers the following car insurance policies to suit the varying needs of its customers:
|Sr. No.||Type of car insurance plan||Particulars|
|1.||Car insurance- Private Car Package Policy||Private Car Package Policy covers own damage to the car as well as liability against the third parties. You can also opt for add-on coverage benefits as part of the private car package policy at an additional premium.|
Liability Only Policy for Private Cars- 3 years
|This car insurance policy provides coverage against liability to the third parties resulting from death or body injury and/ or damage to the property of the third person.|
Private Car Policy- Bundled
|Private car policy bundled provides complete insurance coverage with varying coverage tenures. Third-party coverage is offered for a long term period of 3 years while coverage for damages suffered by the car is offered for one year.|
Private Car Liability Only Policy
|This policy covers third party liabilities only and does not cover damages suffered by the car. Compensation is paid in the event of accidental loss or damage caused to any third party due to an accident in which the insured vehicle is involved|
Standalone Own Damage Cover for Private Car
|It is a standalone own damage insurance cover which can be brought along with a third-party liability insurance plan. This plan provides coverage and indemnifies the insured against accidental damage or loss caused to the insured vehicle|
Benefits of Bajaj Allianz Car Insurance
Benefits of buying Bajaj Allianz car insurance plan are discussed as follows:
- Online convenience- Bajaj Allianz allows you to buy the car insurance policy online within 3 minutes. You can buy the policy as per your convenience without any paperwork and without the requirement of visiting the insurance company’s branch. In addition, you can also make the claim online, renew the plan online and check the information and status of your plan online.
- Wide range of network garage – Bajaj Allianz is tied-up with more than 4500 garages across India so that you can easily get a cashless claim settlement on your policy wherever you are.
- Customized solutions – with Bajaj Allianz you can pick customized car insurance plans by choosing from a range of add-ons to personalize your policy. Moreover, with the wide range of car insurance policies available, you can easily find the coverage that you are looking for.
- Ease of claim settlement – Bajaj Allianz has a customer-first approach and so eases the claim settlement process. You can get your claims settled digitally within 20 minutes and that too in a cashless manner. The Caringly Yours mobile application designed by the company allows On-the-Spot claim settlement if you simply upload photos of minor damages.
- Discounts- You can enjoy the following discounts in Bajaj Allianz car insurance plans -
- Claims free experience- A discount can be availed for every claim-free year at the time of renewing the plan. No- claim bonus can also be availed by customers who wish to shift their insurance policy from previous insurance to Bajaj Allianz Car Insurance plan.
- Membership with Approved Automobile Associations- Customers who are a member of the Automobile Association of India can avail additional discount on the purchase of Bajaj Allianz car insurance plans.
- Opting for Voluntary Excess- The premium discount benefit is offered to the customers who opt for ‘voluntary deductible’ over and above ‘compulsory deductible.’
- Installing approved anti-theft devices- Additional discount can be availed by customers who have installed approved anti-theft devices in their insured car.
What is Covered in Bajaj Allianz Car Insurance Plans?
Bajaj Allianz car insurance plan provides cover for the following damages and offers security to its customers:
- Loss due to natural calamities: Car insurance plans cover loss or damage arising due to natural calamity such as earthquake, flood, explosion, fire, cyclone, hailstorm, frost, etc.
- Loss due to man-made calamity: Car insurance plans pay compensation for damages caused to the car against man-made calamities such as strike, theft, burglary, accident by external means, terrorist activity, etc.
- Personal accident cover, if opted: The personal accident cover provides coverage of INR 15 lakh to the owner-driver of the insured car while driving or travelling and also while mounting and dismounting the vehicle. Optional personal accident cover for passengers and the paid driver is also available as an add-on with Bajaj Allianz comprehensive car insurance policy.
- Third-party legal liability: Third-party legal liability is an important aspect of the car insurance policy. In the event of an accident in which the insured vehicle is involved, any damages caused to the property or loss of life of the third party would be covered under the car insurance plan.
What is not Covered in Bajaj Allianz Car Insurance Plans?
There are certain damages and the losses which are not covered under the Bajaj Allianz car insurance plans. These damages and losses are called exclusions. The following types of losses are included under exclusions:
- Any damage or loss caused outside the geographical area of India
- Depreciation and normal wear and tear of the vehicle and consumables such as tyres and tubes are not covered
- Any loss or damage suffered due to the driving under the influence of liquid or drugs
- Damages suffered by a person driving the vehicle without a valid driving licence
- Damage caused to the car during even such as war unity and nuclear are not covered
- Any claim arising under the plan out of any contractual liability
- Any damage or loss arising out of the car not being used within the limitations of use
- Any consequential losses
How to Buy Bajaj Allianz Car Insurance Plan?
You can buy Bajaj Allianz car insurance plan either online from the official website of the company or offline by visiting the nearest branch of the insurance company. The process to buy Bajaj Allianz car insurance plan online is discussed as follows:
- Visit the website of Bajaj Allianz Car Insurance online ( https://www.bajajallianz.com/motor-insurance/car-insurance-online.html)
- Enter your name and click on ‘Get a Quote’
- Enter your mobile number and answer the relevant questions
- The company will show the car insurance policy available for your car as per the details entered by you
- Select a car insurance plan and add-ons as per your requirement
- Pay the premium through any of the modes available
- The policy would be issued and the policy document will be mailed at the registered email address
Documents Required for Buying Car Insurance Plans
Following documents are required to buy Bajaj Allianz car insurance policy-
- A valid driver’s licence
- Duly filled Insurance form
- A duly filled and completed claim form
- Details about the vehicle including the valid registration number
- Bank details of the policyholder
- Tax receipts
Bajaj Allianz Car Insurance Claim Process
The claim settlement process of Bajaj Allianz is very simple and easy. You can use any of the following ways to make a claim under Bajaj Allianz car insurance plan:
- Dial the toll-free number of the insurance company to process your claim- 1800 209 5858
- You can email the insurance company at firstname.lastname@example.org
- You can also register your claim on the mobile app in which your claim would be settled within 20 minutes with the app’s ‘Motor on the Spot’ feature. You can download the “Caring Yours App’ through the Play Store or Apple Store.
How to Renew Your Lapsed or Expired Bajaj Allianz Car Insurance Policy Online?
You can renew your car insurance plan online by visiting the official website of the insurance company. The steps of renewal of the plan are as follows:
- Visit the official website of the insurance company
- Fill in your name and click on ‘Get a Quote’
- Select ‘Yes’ in the section of ‘I have a Bajaj Allianz Policy’
- Enter your name and mobile number to log in
- Enter the details of your existing policy which is due for renewal and your car registration number
- Before renewing the plan you can choose to opt for add-ons as per your requirements
- You will be taken to a payment gateway for payment of premium
- Once the renewal premiums are paid your plan will be renewed
Documents Required for Renewal of Car Insurance Plan
Boring documents are required to be submitted to renew your car insurance plan:
- Copy of RC book
- KYC documents of the owner of the car
- Copy of car insurance policy of the previous year
- Duly filled and signed proposal form
Bajaj Allianz Insurance Review
Bajaj Allianz Car insurance company is one of the most trusted and best car insurance providers in the country. Bajaj Allianz has over 4500+ network garages in India. It offers a 20-minute claim settlement process online. Bajaj Allianz Car Insurance Company provides a simple and hassle-free process of claim settlement and assures 24* 7 customer support. The company promises to resolve your grievances within the stipulated time period of 15 days. It offers a wide range of tailored add-ons to customise your car insurance plans in order to meet the variant needs of its customers. All these features make Bajaj Allianz car insurance plans an ideal choice.
Bajaj Allianz Insurance Customer Care Number
Bajaj Allianz General Insurance offers various modes to contact the customer care department of the insurance company. Bajaj Allianz car insurance offers a stipulated time frame of 15 days for closing all the grievances of the customers. You can contact the customer care department of Bajaj Allianz Car Insurance Company in any of the following ways:
|Toll-free number||1800 209 0144/ 1800 209 5858|
|Fax number||020- 051 2246|
|Email ID For senior email@example.com|
|Registered office||Bajaj Allianz House, Airport Road, Yerawada, Pune- 411 006|
Add ons for your Car Insurance
Bajaj Allianz Car Insurance FAQs
1. How many add-ons are sold by Bajaj Allianz with its car insurance plan?
Bajaj Allianz car insurance offers a variety of add-ons with its comprehensive policy. The add-ons are as follows –
- Personal Baggage-
Personal baggage add-on cover protects your personal belongings and covers the losses that you may incur because of damage or theft of the personal belongings from your car.
- Zero Depreciation-
Zero depreciation add-on cover helps you to nullify the depreciation associated with your car. With this add-on cover, when you claim your insurance, the insurance company will pay the full value of the car and all of its spare parts without deducting any cost of depreciation.
- Conveyance Benefit-
Convenience benefit add-on insurance helps you to pay for your daily conveyance during which your car is getting repaired in a garage. It includes the daily cab or transportation charges for the period of your car servicing.
- Key and lock replacement-
Key and lock replacement add-on reduces the expenses resulting due to misplacement or loss of the car keys. The insurance company will replace and purchase the car’s lock and keys on your behalf.
- Engine protector-
Engine protector add-on covers the expenses arising due to oil leakage, hydrostatic lock, etc. and protects your engine from wear and tear. It pays for the damages caused to the engine and engine parts, differential parts and gearbox and gearbox parts.
- Personal Baggage-
2. What is Bajaj Allianz’s Incurred Claims Ratio (ICR)?
The Incurred Claim Ratio for Bajaj Allianz motor insurance policies for 2018-19 is 62%.
3. How to download my Bajaj Allianz car insurance policy document online?
When you buy Bajaj Allianz’s car insurance policy, the policy document is automatically sent to your email ID. If you want to download the document again, you can visit https://general.bajajallianz.com/BagicNxt/OnlinePrint/printbagicpolicy.jsp and provide your policy number and registered mobile number. A UIN would be generated which you should enter and provide the registered email ID. Then you would be allowed to download the e-policy online.
4. How long does it take for Bajaj Allianz to settle its claims?
Bajaj Allianz’s Caringly Yours application gives you instant settlement for minor claims. For other claims raised digitally, the company takes about 20 minutes to settle the claims. For complicated claims, however, there might be a few days before which your claim would be settled.
5. How can I check the car insurance claim status of Bajaj Allianz online?
To check your claim status, visit https://general.bajajallianz.com/BagicNxt/b2c/customer/claim_enquiry_new.jsp and enter your policy number and claim number and the claim status will be displayed.
6. Does Bajaj Allianz offer Pay-as-you-Go policy?
No, currently the company does not offer Pay-as-you-Go car insurance plans.
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