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Bajaj Allianz Standalone Own Damage Bike Insurance
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Bajaj Allianz Two Wheeler 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
Zero paper claims
Available upto Rs 10,000
Your new bike must be insured to comply with the mandatory requirement under the Motor Vehicles Act of 1988 and to complete the registration process. However, only third-party insurance is sufficient as per the law. Still, it is sensible to opt for the Bajaj Allianz standalone bike insurance to protect your machine and self from any financial loss from an accident or disasters beyond your control.
Thus, the own-damage (OD) policy covers only the policyholder against all legal as well as financial liabilities.
How does Bajaj Allianz Standalone Two Wheeler Insurance Work?
Bajaj Allianz General Insurance offers all the combinations of bike insurance to suit individual preferences. A standalone policy only offers protection to you and your bike, and it does not include third-party liabilities. In order to protect you and your bike from any unwanted perils, going for Bajaj Allianz standalone bike insurance would be an ideal choice to make. It offers complete financial as well as legal protection to the policyholder.
Bajaj Allianz Standalone Bike Insurance vs. Third Party Bike Insurance Vs. Comprehensive Bike Insurance
|Factor||Standalone OD Bike Insurance||Third Party Bike Insurance||Comprehensive Bike Insurance|
|Coverage||Damages caused due to accidents, theft, man-made disasters, and natural calamities.||Damages to third party person or property||Damages to third-party and own-damage.|
|Cost||More expensive than third-party insurance.||Cheapest among all.||Most expensive as it covers third-party and own-damage.|
|Add-on||Choose add-on as per offer and requirement.||No add-on facility||Choose as many as required|
|Legal Status||Optional but cannot be purchased without third-party bike insurance.||Compulsory.||Optional, but always advisable to buy due to its wider coverage.|
What All is Covered Under Bajaj Allianz Standalone Bike Insurance Policy?
The cover is extensive in Bajaj Allianz’s two-wheeler insurance standalone policy. Some of the key features are:
- Damage to the insured bike in accidents and collisions
- Damage sustained in fire and explosions
- Acts of vandalism involving the insured two-wheeler
- Theft/ burglary or total damage of the insured two-wheeler
- Loss or damages due to natural or human disasters and calamities. For example, cyclones, floods, arson, riots, etc.
What All is not Covered Under Bajaj Allianz Standalone Bike Insurance Policy?
As a policyholder of your dream bike, you must be aware of the exclusions in the Bajaj Allianz two-wheeler standalone insurance to ensure a seamless claim experience if needed. Some of the critical exclusions to remember are:
- Third-party liabilities as an outcome of an accident
- Mechanical and electric failure, besides normal wear and tear
- Damages caused due to illegal driving
- Damages and losses occurring outside the geographical limits specified in the Bajaj Allianz standalone bike insurance
- Driving without a valid licence/policy
Bajaj Allianz Standalone Bike Insurance Benefits
The primary benefit of the Bajaj Allianz two-wheeler standalone insurance policy is that you have augmented your coverage beyond the statutory requirement. In other words, the own-damage (OD) two-wheeler insurance policy is the required safety net protecting you and your bike from the hazards on the road. In addition, some of the crucial benefits are:
- An additional protection layer compensates for accidents, fire, explosions, and vandalism damages.
- The no claim bonus continues with a cumulative reward for every claim-free year at the time of renewal.
- You can further strengthen your two-wheeler policy by choosing suitable add-ons offered by the insurer.
- Purchase Bajaj Allianz standalone two-wheeler insurance online from the insurer’s official portal or the aggregator. However, you must already possess valid third-party bike insurance from any insurer of your choice.
- 24/7 assistance on call
- Coverage for year to year or long-term
- Inspection-free online policy renewal
- Savings in the long run
Bajaj Allianz Standalone Bike Insurance Review
Bajaj Allianz General Insurance is one of the leading Indian insurers providing tailored bike insurance policies to suit every individual preference. Thus, you can choose from standalone own-damage, third-party, or a comprehensive insurance policy according to your convenience. Moreover, you can purchase the Bajaj Allianz standalone bike insurance online with the redeeming features, saving time and effort.
In addition, Bajaj Allianz two wheeler insurance boasts a robust 24/7 customer service mechanism catering to all your needs using more than 4000 pan India network garages spread across more than 1100 locations. As a result, the Bajaj Allianz two-wheeler insurance standalone policy enjoys customer patronage with an average 4.8 rating bolstered by a customer settlement ratio of 88.83% up to 2020.
Add ons for your Two Wheeler Insurance
Bajaj Allianz Standalone Bike Insurance FAQs
1. Is it mandatory to buy the Bajaj Allianz standalone two-wheeler insurance online?
No, buying this policy is completelt optional. But you must own a third-party insurance while availing a standalone two-wheeler insurance.
2. What is the amount of liability in the case of Bajaj Allianz standalone two-wheeler insurance online?
The compensation for the coverage under the Bajaj Allianz two-wheeler insurance standalone policy is the IDV (Insured Declared Value) at the time of purchase.
3. Does the Bajaj Allianz two-wheeler insurance standalone policy include personal accident cover?
The IRDAI has made it mandatory to own a PA cover along with your policy. Thus, one has to buy it separately as generally it is not included in the policy.
4. What happens if you fail to renew the Bajaj Allianz standalone bike insurance in time?
You can be penalized for driving on the road plus you will loose all your accumulated policy benefits.
5. Is the own-damage cover available in the comprehensive bike insurance policy?
The comprehensive bike insurance policy comprises own-damage and third-party. So yes, own-damage is included in comprehensive bike insurance.
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