Bajaj Allianz Third Party Bike Insurance

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The law under Section 146 of the Motor Vehicles Act 1988 mandates at least a third-party bike insurance before you venture on the Indian roads with your dream two-wheeler. The insurance cover protects you from damages suffered in an accident to third-party persons and any legal liabilities. Hence, there is no better option than the Bajaj Allianz third-party bike insurance to comply with the law while enjoying driving peace under their primary insurance coverage. 

Bajaj Allianz Third Party Bike Insurance – How does It Work?

The Bajaj Allianz two-wheeler insurance third-party policy covers damages caused to the third-party. The insurance policy pays out the costs for injuries inflicted upon third-party life, vehicle or property and the legal liabilities for which your insured two-wheeler is responsible. Riding your bike without this liability cover is a punishable offence in India. 

Bajaj Allianz Third Party Bike Insurance vs. Comprehensive Bike Insurance

The Bajaj Allianz 3rd party bike insurance is a liability-only policy that complies with the legal requirements. On the other hand, a comprehensive insurance policy provides broader coverage for the insured bike and the owner, apart from the statutory third-party cover. Therefore, let us compare the two for a better understanding. 

Parameters 

Third-party Bike Policy 

Comprehensive Bike Policy

Coverage 

Only third-party financial and legal liabilities 

Third-party plus cover for the insured bike and owner

Premium Cost 

Comparatively lower 

Comparatively higher

Legal Compliance 

Mandatory 

Optional 

Documentation 

Simple comprising essentials

Elaborate 

How to Buy Bajaj Allianz Third Party Bike Insurance?

Buying Bajaj Allianz third-party two-wheeler insurance online is seamless as the bike dealer bundles the policy with the sale process. However, it is in your interest to know the procedure details. In addition, you get the assistance of experts to guide you to the best coverage. 

However, offline and online options are open, though it is advantageous to buy the Bajaj Allianz third-party bike insurance online at the insurer portal or any aggregator. That apart, you can request a callback or chat at the Bajaj Allianz portal and then purchase using the following documents:

  • Furnish proof for your personal information, including name, sex, age, and address
  • Copy of driving licence
  • Two-wheeler  registration number

What All is Covered Under Bajaj Allianz Third Party Bike Insurance Policy?

  • Death or bodily injury to the third party in an accident involving the insured bike
  • Third-party property damage

What All is not Covered Under Bajaj Allianz Third Party Bike Insurance Policy?

  • Cost of damages to the insured two-wheeler
  • An injury to the policyholder, regardless of an accident not involving a third-party
  • Damage to the insured two-wheeler  due to regular wear and tear or calamities, natural and artificial

Key Benefits of Purchasing Bajaj Allianz Third-party Bike Insurance

Despite the limited coverage provided by the Bajaj Allianz third-party bike insurance primarily obtained to comply with the legal requirements, it turns out to be beneficial in times of crisis. Therefore, the key benefits are listed below:

  1. Financial and Legal Assistance: The Bajaj Allianz two-wheeler insurance third-party policy compensates for the policyholder’s monetary losses due to third-party legal obligations caused due to death and damage to property
  2. Peace of Mind: The Bajaj Allianz two-wheeler insurance third-party policy provides the necessary peace of mind with coverage that complies with the statutory requirement of bike ownership.
  3. Minimal Documentation: The limited liability bike insurance policy needs minimal and essential purchasing documentation, whether offline or online. In addition, an inspection waiver of the vehicle applies before issuing the insurance policy document.
  4. Easy on the Pocket: The Bajaj Allianz two-wheeler insurance third-party policy is affordable compared to the comprehensive despite its constraints of limited coverage.

Bajaj Allianz Third Party Bike Insurance Review

Bajaj Allianz General Insurance is one of the leading insurers in the country, providing tailored policies for every requirement, not to mention the Bajaj Allianz two-wheeler third-party insurance. Therefore, the policy enjoys the confidence of satisfied customers, who have overwhelmingly accorded a 4.6-star average rating to the insurance policy. The insurer boasts a network of over 4000 garages and a presence in 1100 + Indian cities and townships, making it one of the most popular two-wheeler insurance providers. In addition, Bajaj Allianz two wheeler insurance provides 24/7 claim settlement support for a seamless experience. 

What All is not Covered Under HDFC ERGO Third Party Two Wheeler Insurance?

The following things are not covered under the HDFC ERGO third party two wheeler insurance:

  • Own Damages: The damages incurred by you or your vehicle are not protected under this insurance.
  • Driving Without a Licence: If the accident occurred while driving without any proper licence, then the insurer won't cover those damages.
  • Driving Under the Influence: If you were driving under the influence of the intoxicants such as alcohol or any other drug, you are liable to pay all the damages inflicted on the third-party.
  • Geographical Location: If the accident occurred outside the jurisdiction limit of your registered RTO, then the insurer is not liable to pay the damages.
  • War: Any damages inflicted on the vehicle because of the war or any event that was the result of the war, the insurer will not pay any damages incurred.

Bajaj Allianz Third-party Bike Insurance FAQs

  • 1. Is there any amount limit for damages under the Bajaj Allianz two-wheeler insurance third-party policy?

    Yes, according to the IRDAI guidelines, the third-party property damages are limited to a maximum of INR 7.5lakh. However, there is no specific compensation limit for bodily injury or death of third-party.

  • 2. Can you purchase a Bajaj Allianz third-party bike insurance for long terms?

    Bajaj Allianz third-party bike insurance provides policies for 5-year terms as per the Supreme Court instructions from September 2018 for all new two-wheelers.

  • 3. Is there any provision for no claim bonus under the Bajaj Allianz third-party bike insurance?

    There is no provision for no claim bonus in the Bajaj Allianz third-party bike insurance since it provides only basic insurance cover. 

  • 4. When should you renew your Bajaj Allianz third-party bike insurance?

    You must renew your third-party policy before the expiry date of the existing insurance policy to avoid penalties while driving on the road. 

  • 5. Is it better to purchase the Bajaj Allianz third-party two-wheeler insurance online?

    Online purchase of Bajaj Allianz third-party two-wheeler insurance comes with several advantages, including the option to compare similar policies and a lower premium than offered in the offline mode. 

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