Have you ever thought about the advantages of taking a two-wheeler insurance for the long term? Why would you opt for this particular insurance plan instead of a short-term one? This article will help you understand these questions, particularly concerning Bajaj Allianz's long-term two-wheeler insurance.
Benefits of Bajaj Allianz Long-term Two-wheeler Insurance
Bajaj Allianz is a trusted insurance company in India. It offers coverage against risks such as medical expenses in case of accidents, damage to an insured vehicle, etc. Here are some of its benefits.
Premium Rates for Long-Term Two-Wheeler Insurance
The premium rates for long-term two-wheeler insurance by Bajaj Allianz are very reasonable, particularly when you do not have to pay an annual or monthly maintenance fee. Since there is no ongoing charge attached to your policy and you do not have to renew it annually, your premiums are usually lower than those of a yearly policy.
You can talk to customer support at Bajaj Allianz, and it can help you reduce the premiums even by offering you the available discounts.
Your bike gets fully insured for a longer term, helping you overcome the hassles one witnesses with a yearly policy. You can rest assured knowing that your bike is well protected.
Fixed Premium Rates up to 3 Years
Two-wheeler insurance premium rates get revised every year. The IRDAI revises the premium rates for the third-party cover every year. Own damage premium may also revise based on the damage claim record you maintain with Bajaj Allianz on renewal. So, on a yearly policy, you may end up paying more! Buying a Bajaj Allianz two-wheeler insurance policy for three years will thus ensure protection against the annual premium hikes.
Customised Protection
The Bajaj Allianz two-wheeler insurance policy assures flexibility by allowing you to customise it to your individual needs. Besides immuning you against the mandatory third-party cover, it allows you to add personal accident insurance, which is also mandatory to have. Besides, you can get numerous Bajaj Allianz bike insurance add-on covers to stay protected against numerous incidents that you can't under a regular bike insurance policy. You can add these riders to the policy.
No-claim Bonus
By purchasing long-term two-wheeler insurance from Bajaj Allianz, you will get a discount called the no-claim bonus (NCB). The NCB in bike insurance is given to individuals who have not made any claim in a year.
Refund of Premium on Cancellation of Policy with Partial Claim
Bajaj Allianz will give you a refund according to the tier if you cancel a policy and have already claimed Bajaj Allianz two wheeler insurance claim for a portion of the benefits. For example, if you have paid for three years worth of coverage but cancel after one year because your bike was stolen, the insurer may only refund two years' worth of premiums. It is called partial claim settlement.
24x7 Roadside Assistance
If your vehicle gets into an accident, it is crucial to have a fast and reliable tow service. With Bajaj Allianz, you can get assistance from a certified mechanic within 30 minutes, who will help fix mechanical or electrical problems on your vehicle, and even change your flat tire.
Voluntary Deductible Discounts
When individuals register an insurance claim, they agree to a deductible, the minimum amount they would bear, depending on the company. Additionally, India Motor Tariff mandates specific voluntary discounts that need to be provided by the insurance company.
Certain insurance companies like Bajaj Allianz also offer an additional voluntary deductible discount as required by the India Motor Tariff for an extra monthly fee for two-wheelers with an insured declared value in bike insurance of upto and more than INR 75,000. Vehicles with an IDV of up to INR 75,000 will come with a voluntary deductible of INR 500-3,000, resulting in a discount of 5-25% of the own damage premium. Whereas vehicles with an IDV of more than INR 75,000 will have a voluntary deductible of INR 500-15,000. It will result in a discount of 5-45% of the own damage premium of the two-wheeler.
The Bottom Line
Bajaj Allianz two-wheeler insurance has been in existence since 1998, with the main aim of providing customers with unparalleled security and protection for their bikes. With a dedicated 24-hour emergency helpline number, Bajaj Allianz has become one of India's most sought-after two-wheeler insurance companies.
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How Advantageous It Is to Buy Two-wheeler Insurance from Bajaj Allianz
