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Bajaj Allianz Car Insurance: Online Renewal, Coverage, Add-ons, Exclusions etc.

Bajaj Allianz general insurance company is a Joint venture between Allianz SE, the World’s leading insurance company and Bajaj Finserv Limited. Bajaj Allianz is one of the companies to start their general insurance business in India after the privatization of general insurance business in India. It has received the certificate of registration from IRDA on 2nd May 2001 to carry out general insurance business in India. Bajaj Allianz is the second largest private insurance company in India in terms of GWP underwritten for the financial year 2020-21.

Bajaj Allianz general insurance company offers Car vehicle insurance, Bike insurance, Commercial vehicle insurance; Fire insurance, Engineering insurance, Health insurance and many other insurance products to the masses. The underwriting support is provided by the Allianz SE which has good experience in underwriting business in the new markets. Bajaj Allianz has seen a profit of Rs.1, 330 Cr for the year ending 20-21 with the solvency ratio of 345% for the mentioned period.

What is covered under Bajaj Allianz Car Insurance Policy?

Bajaj Allianz car insurance policy is an agreement between the insurance company and the customer in which the insurance company settles the loss or damages incurred due to an accident in return for a nominal premium to be paid by the customer to the insurance company. Bajaj Allianz four wheeler car insurance policies are designed to ensure that your car is protected from the damages caused as a result of perils mentioned in the policy document.

Below are the perils covered under Bajaj Allianz car insurance policy:-

  1. Own Damage Section:
    • Damage due to Fire, Explosion, Self Ignition or Lightning.
    • Burglary or House breaking or Theft.
    • Damage due to Riot and Strike.
    • Malicious damage
    • Earthquake including Fire & Shock
    • Damage due to Natural peril of Act of God such as Flood, Storm, Hurricane etc.
    • Damage due to accidental external means.
    • Damage due to Terrorist activity.
    • Damage caused to the car while in Transit by Rail, Road, and Inland waterway, Lift, Elevator or Air.
    • Damage due to Landslide / Rockslide.
  2. Third Party Section:
    • Legal liability arising out of bodily injury / death of third parties involved in an accident with the insured car.
    • Property damage of third parties caused due to an accident involving the insured four wheeler car.
  3. Personal Accident Cover:
    • Personal accident cover compensates in the event of death or disability of the owner/driver due to an unfortunate incident while travelling on the insured four wheeler car. The compensation under the personal accident cover of Bajaj Allianz car insurance policy would not exceed Rs.15 L.

Bajaj Allianz Car insurance Add-ons:

Bajaj Allianz car insurance policy offers extra coverage to your car in the form of add-ons or riders on payment of extra premium at the time of policy purchase. The list of add-ons offered by the Bajaj Allianz car insurance policy is mentioned below:

  1. Depreciation Shield:
  2. Depreciation is the reduction in the value of an item or part over a period of time due to the usage. The wear and tear results in the reduction of an item’s value which is known as depreciation. Depreciation is taken into consideration at the time of claim settlement by the insurance company. As a normal rule each year 10% or more of the car value would be depreciated depending on the parts which are damaged due to an accident. The depreciation cost is the amount which is deducted from your claim amount due to normal wear and tear caused to your car over a period of time. This depreciation cost would be given to the customer at the time of claim settlement if the depreciation shield is added to the policy at the time of purchase.

  3. Engine Protector:
  4. Engine protection add-on covers the damage to the four wheeler car engine due to leakage of lubricant oil or damage to the engine box due to water ingression. Engine protector provides financial protection to the insured against any repair or loss of the car’s engine due to the above mentioned reasons. Engine protector is very important add-on if you stay in a low lying area which has a huge probability of floods during the monsoon season and driving in water clogged areas also result in malfunction of the engine. Without this add-on, standalone damage to the engine is not covered under your comprehensive car insurance policy.

  5. Consumable Expenses:
  6. There are certain parts in your four wheeler car such as Engine oil, Gear box oil, Power steering oil, Coolant, AC oil, Brake oil, Air filter etc., which are known as Consumable parts. These parts cannot be repaired in case of damage and had to be replaced at the time of claim. The cost of replacement of these parts, in case of an accident, is generally not covered under your comprehensive four wheeler car insurance policy. But with the addition of this add-on, all the consumable expenses would be covered by the insurance company at the time of claim settlement.

  7. 24*7 Spot Assistance:
  8. This is the Pan India cover provided to the four wheeler customers who need assistance while on the road. 24*7 road side assistance provides service for emergencies such as repair of flat tyre, jump start for car battery, legal advice in case of an accident and many more. The road side assistance cover is available in payment of additional premium at the time of policy purchase.

  9. Keys & Locks Replacement
  10. In the event of irrecoverable loos or damage to the keys or lock of your car arising out of an insured event, you will be compensated for the cost incurred in fitting or purchasing new lock or keys or replacement of keys of your insured car. Generally in case of theft or robbery attempt of your car, burglars use duplicate keys to make unauthorized entry into your vehicle which would damage the lock set of your car door. This lockset needs replacement which is covered under the Keys & Locks replacement add-on of Bajaj Allianz car insurance. In case of loss of keys the door may be required to be opened with force or a new set of keys needs to be purchased from the showroom which incurs few thousands to few lacs depending on the value of your car. The cost of purchase or replacement of your car keys would be covered under the Keys &Locks replacement add-on on payment of additional premium at the time of policy purchase.

  11. Personal Baggage:
  12. Under this add-on the insured is indemnified for the loss or damage caused to his/her baggage kept in the insured car due to an insured peril. The lists of perils which are covered under this particular add-on are mentioned in the Bajaj Allianz car insurance policy terms and conditions. Personal baggage generally includes clothing, toiletries, perfumes, bags and suitcases or other daily essentials. Baggage insurance compensates the loss of baggage due to theft or burglary or due to an accident. However, certain items such as Gold, silver items and other precious metals are not covered in addition to the luxury items such as Laptops, Mobiles etc.

  13. PA Cover for unnamed passengers:
  14. The personal accident cover for unnamed passengers covers the death or disability of passengers travelling on the car at the time of accident. The maximum sum assured for personal accident cover is limited to Rs.2 Lacs per passenger travelling on the car . The PA cover for unnamed passengers would be charged based on the number of passengers mentioned in the RC copy of the car.For instance if the seating capacity is mentioned as 7 which includes the driver, then the PA cover for unnamed passengers can be taken for the remaining 6 passengers excluding the driver.

  15. Additional fitments:
  16. The cost incurred to repair the additional fitments will also be paid by the insurance company if extra premium is paid and the coverage is opted. Additional fitments are covered under the Insured declared value of the own damage section. Extra fittings such as Stereo, car fittings etc., which do not come with the showroom fitting, are covered under this add-on.

  17. Conveyance Benefit:
  18. A “per day” cash benefit would be paid to the insured customer if the car is in the workshop for more than a certain number of days as mentioned in the policy document following an accidental damage. The benefit is payable only if the claim is accepted by the insurance company as per the terms & conditions mentioned under the policy.

Key Features of Bajaj Allianz Car Insurance Policy:

There are certain key features of Bajaj Allianz Car insurance policy. They are:

  • Motor on the Spot feature is a feature which allows the customer to register the claim via app and the claim would be settled within 20 minutes. Customer can use the claim amount to carry out the repairs at his/her desired workshop. This feature enables to increase the claim settlement time in case of minor repairs.
  • The car insurance policy can be purchased for four wheelers aged up to 20 years online on our portal above which the decision would be taken by the insurance company based on the condition of the car.
  • 24*7 Spot Assistance cover is provided to four wheeler cars up to the age of 20 years which is otherwise not available with other insurance companies.
  • Depreciation Shield cover, Engine protection cover and Consumables cover are given for four wheeler aged up to 5 years. The premiums to be paid to avail the drive assure silver cover would be nominal and the coverage would be extended by a large extent.
  • Instant policy issuance in case of four wheeler car. Policy copy would be available immediately after the payment of premium.
  • Endorsements such as Name correction, Address correction etc would be done within 24-48 hours of submitting the request.
  • Bajaj Allianz car insurance claim toll free number is 1800-103-5858 which can also be used for assistance in case of car breakdown.
  • Bajaj Allianz insurance wallet is a mobile app which can be used for making insurance related purchases including the renewals. Most of the insurance products can be purchased directly from the mobile app with real time customer support to assist in the insurance purchase.
  • Bajaj Allianz general insurance has tied up with more than 6000 garages to facilitate cashless claim settlement service to their customers.
  • Motor on the spot feature allows the customers to get the claims settled if the claim amount is up to INR20, 000 in case of four wheeler cars. The claim amount would be transferred to the account of customer within 20 minutes. This on the spot claim settlement facility increases the number of claims settled thereby maintaining a healthy claim settlement ratio.
  • Transfer of no claim bonus from previous policy (up to 50%) and transfer in case of new vehicle purchase.
  • Claim Settlement ratio of 98% which shows the dedication of Bajaj Allianz general insurance company in settling the claims of their customers within a short period of time.

Types of Bajaj Allianz Car insurance:

Bajaj Allianz car insurance is of the below types:

  1. Only Third party car insurance:
  2. Bajaj Allianz third party car insurance policy covers the legal liability arising out of bodily injury or death of third parties involved in an accident with the insured vehicle. In addition to this it also covers the third party property damage caused due to an insured four wheeler car. The third party car insurance is mandatory as per the Motor vehicles Act to ply on public roads without which the driver/owner may be fined up to Rs.5000 or imprisonment up to 3 months or both. The third party car insurance premium of Bajaj Allianz can be calculate online using the link which includes the personal accident cover to owner driver up to INR 15 L.

  3. Comprehensive car insurance:
  4. The comprehensive car insurance from Bajaj Allianz includes the Own damage section as well as the Third party section. Own damage section covers the loss or damage to the four wheeler car due to an insured peril such as Fire, Theft, Act of God, Malicious damage etc., acting at the time of damage. Bajaj Allianz comprehensive car insurance is also known as Full insurance in the market as it covers both the First party as well as the Third party. Bajaj Allianz comprehensive car insurance policy can be purchased online from Car Insurance by entering the basic details such as Make and model of the four wheeler cars, date of registration and RTO.

  5. Comprehensive with Drive Assure Economy:
  6. Bajaj Allianz has introduced drive assure plans as a part of the own damage section of the policy to provide assurance to the customers regarding the claims. Bajaj Allianz Drive Assure Economy includes the Comprehensive package along with the Depreciation shield, Engine Protector & 24*7 Spot Assistance. The Drive Assure economy can be purchased on payment of additional premium and it is like a topping on an ice cream. Depreciation shield covers the cost of depreciation on the repair or replacement parts at the time of claim settlement without which the customer would be liable to pay the depreciation costs. Engine protector covers the loss or damage to the engine due to leakage of oil or water ingression. The last one is the Comprehensive cover with (24*7) spot assistance which includes the road side assistance over the call. Bajaj Allianz 24*7 spot assistance provides assistance to the insured in case of breakdown of the car on road.

  7. Comprehensive with Drive Assure Economy Plus:
  8. Bajaj Allianz has introduced drive assure plans as a part of the own damage section of the policy to provide assurance to the customers regarding the claims. Bajaj Allianz Drive Assure Economy Plus includes the Comprehensive package along with the Depreciation shield, Engine protector, 24*7 Spot Assistance, Keys & Locks Replacement & Personal Baggage. The economy plus plan can be purchased on payment of additional premium and it is like a topping on an ice cream. Depreciation shield covers the cost of depreciation on the repair or replacement parts at the time of claim settlement without which the customer would be liable to pay the depreciation costs. Consumables such as Engine oils, Air filters, AC oil etc., would be replaced at the time of claim and are paid under this add-on. Engine protector covers the loss or damage to the engine due to leakage of oil or water ingression. Keys & Locks section covers the loss or damage to the keys or lock of the car due to an accident as a result of an insured peril. Personal baggage section covers the loss or damage to personal items such as Clothing, toiletries, perfumes, books etc.

  9. 24*7 Spot Assistance:
  10. The last one is the Comprehensive cover with (24*7) spot assistance which includes the road side assistance over the call. Bajaj Allianz 24*7 spot assistance provides assistance to the insured in case of breakdown of the car on road. This package needs to be purchased by paying additional premium. The spot assistance coverage includes the assistance on phone in case of breakdown of the car on a highway or sending a mechanic from a nearby location to the place of breakdown.

Bajaj Allianz Car insurance premium calculation

Bajaj Allianz car insurance premium depends on many factors such as IDV, Add-ons, Age of the car, Make and Model of the car, year of registration, Manufacturing date, Previous NCB, RTO etc. Bajaj Allianz car insurance premium can be obtained instantly using the online calculator. It is advisable to use this car insurance calculator before deciding on setting the budget for the car insurance.

Below are the factors which need to be input to get the Bajaj Allianz car insurance premium online:

  • Basic details such as Name, E-mail, Mobile number etc.,
  • Car Make and Model which decides the premium of the car to be paid by the customer.
  • Insured declared value which is the maximum liability of the insurance company in case of any claim. Higher the IDV, higher the premium.
  • Year of registration of the car to arrive at the age of the car. Bajaj Allianz general insurance covers four wheelers up to 20 years of age online. Cars aged above 20 years would be subject to inspection and approval from the underwriting team before quoting.
  • Previous year No claim bonus also decides on the premium to be paid for Bajaj Allianz car insurance policy. Higher the NCB, lower would be the premium to be paid by the customer.
  • RTO location decides on the premium to be paid in the online car insurance calculator. State capitals are classified under Zone A while the rest of cities come under Zone B.

Bajaj Allianz Car Insurance Claim process:

Bajaj Allianz has simplified the claim settlement process for their customers. Below is the process of claim settlement with Bajaj Allianz:

Step 1: Claim Registration

The first step in the claim process is to register the claim by calling on the Toll free number 1800 -209-5858 and registering the claim by mentioning the basic details such as policy number, date and time of accident, brief description of the accident, approximate claim costs etc. A claim intimation number would be assigned by the Bajaj Allianz claims team which should be quoted for further communications regarding the claim. Bajaj Allianz team will take you through the entire claim process and would assist you in each and every step of the claim settlement process.

Step 2: Repairs

The next step in the car claim settlement process is to take the car to the nearest garage for repairs. Bajaj Allianz has tied up with more than 6000 garages Pan India to provide cashless service to the customers. This Pan India service can be utilised by anyone and get the repairs done at any part of India. In case of minor damages the car can be driven to the nearest garage for undertaking repairs, if in case the car is in immovable condition then the towing services can be availed to two the car to the nearest garage.

Step 3: Claim Settlement

Bajaj Allianz‘s “Motor On The Spot” feature allows the customers to get their minor claims settled within 20 minutes in case of minor claim where the claim amount doesn’t exceed INR20,000. If the claim amount exceeds INR20, 000 a surveyor would be deputed to the garage within 24 hours of claim registration. Surveyor would conduct the survey and submit the report to the Bajaj Allianz general insurance company within few hours after which the company would decide on the admissibility and the quantum of claim. Once the customer agrees to the claim amount, insurance company will process the claim and settles the amount directly with the garage in case of cashless claim settlement. If the customer wishes to get his repair done at a non cashless garage, the claim amount has to be paid upfront by the customer and later submit the bills to process the claim.

If you are not satisfied with the claim amount or there is a disagreement on the quantum of the claim amount, you can approach the ombudsman of the insurance company before trying for the arbitration process which involves arbitrators from both ends to meet and discuss on the quantum of claim to be settled instead as a case of out of court settlement.

Documents required for Bajaj Allianz Car insurance Claim Settlement:

There are certain documents required by Bajaj Allianz claims team for car insurance claim settlement process which are mentioned below:-

Own Damage Claim:
  • Original policy copy and Registration copy of the car in the name of the insured. If the name of insured and name on the RC doesn’t match, claim will be denied by the insurance company.
  • Valid driving licence of the driver who was driving the car at the time of accident. Claim would not be settled if the driver doesn’t have valid licence at the time of accident.
  • Claim bills or estimate to be submitted to the insurance company from the garage.
  • Car engine number and chassis number, Odometer reading would be verified before the claim settlement.
  • Duly filled and signed claim form to be submitted.
Theft Claim:
  • Copy of FIR in case of theft should be submitted to the insurance company.
  • Copy of Non traceable certificate also should be submitted. If the police are not able to recover the car within 90 days of complaint then a Non traceable certificate would be provided to process the claim.
  • Duly filled and signed claim form to be submitted.
  • All the other documents such as original policy copy, RC copy should be handed over to the insurance company.
  • RC copy should be nullified by intimating the RTO.
  • Spare keys of the car should be submitted to the insurance company.
Third Party Claim:
  • In case of Third party bodily injury claim, FIR should be submitted and the same needs to be intimated to the insurance company.
  • Details of the other vehicle(s) involved in accident with the insured car should be mentioned in the claim form.
  • Duly filled and signed claim form should be submitted.
  • In case of property damage claim the details of property damaged should be mentioned in the claim form.
  • All other documents such as original policy copy, RC Copy, Driving licence should be submitted to the insurance company.
BAJAJ ALLIANZ “MOTOR ON THE SPOT” Feature allows customers the get the minor claims settled within 20 minutes. The maximum amount for minor claims is Rs.20,000/- which would be settled under the Motor on the spot feature of the company.

Documents required for Bajaj Allianz Car insurance online purchase:

There are certain documents required to purchase car insurance online from Bajaj Allianz general insurance company. They are mentioned below:-

  • Registration certificate of the car to know the Make & model of the car, Year of manufacture of the car, RTO location, Car registration number etc.
  • Previous year policy copy of the car to understand the No claim bonus available, expiry date of the policy etc.
  • Nil claims declaration from customer in case of No known or reported claims in the previous year.
  • You can purchase Bajaj Allianz four wheeler insurance from online portal after entering the basic details such as Car registration number, Year of registration or manufacture, RTO location, Make and model of the car and previous year policy details.

Exclusions under Bajaj Allianz Car insurance:

There are certain exclusions under Bajaj Allianz car insurance which are not covered by the insurance company. Let us understand the exclusions under Bajaj Allianz car insurance policy:-

  • Any accidental loss or damage and or liability caused or incurred outside the Geographical area;
  • Any claim arising out of contractual liability;
  • Any accidental loss or damage caused when the car is used
  • Loss or damage caused to the car when driven by a person without a valid driving licence or by a person other than the driver as stated in the Driver’s clause.
  • Any accidental loss or damage to any property whatsoever or any loss or expense whatsoever resulting or arising there from or any consequential loss.
  • Any liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. For the purpose of this exception combustion shall include any self-sustaining process of nuclear fission.
  • Any accidental loss or damage or liability directly or indirectly caused by or contributed to by or arising from nuclear weapons material.
  • Any accidental loss damage and/or liability directly or indirectly or proximately or remotely occasioned by contributed to by or traceable to or arising out of or in connection with war, invasion, the act of foreign enemies, hostilities or warlike operations (whether before or after declaration of war) civil war, mutiny rebellion, military or usurped power or by any direct or indirect consequence of any of the said occurrences and in the event of any claim hereunder the insured shall prove that the accidental loss damage and/or liability arose independently of and was in no way connected with or occasioned by or contributed to by or traceable to any of the said occurrences or any consequences thereof and in default of such proof, the Company shall not be liable to make any payment in respect of such a claim.

Bajaj Allianz Car insurance FAQ:

Can I purchase Bajaj Allianz Car insurance online?

Yes, you can purchase Bajaj Allianz car insurance policy online from the online portal by entering the details of your car such as Make & Model, Year of registration, RTO location etc.

Is claim payable if I purchase insurance online?

Yes. Claim is payable if you purchase your car insurance online. Online is another mode of purchase just like offline purchase from agent or through bank. The claim process is made mostly online and hence the need to visit an office at the time of claim would be drastically reduced with the Motor on the spot feature of Bajaj Allianz.

Can I renew my existing Bajaj Allianz car insurance policy online?

Yes, you can renew your existing Bajaj Allianz car insurance online till the vehicle reaches 15 years of age. The Bajaj Allianz Car Insurance renewal process is quite simple which involves the customer to enter the policy details and proceed to payment page.

My car is more than 20 years old; will Bajaj Allianz insure my car?

If the age of your car is more than 20 years of age, please contact the toll free number 1800-123-4003 to get assistance from our car insurance expert. Four wheelers aged above 20 years would be insured after satisfied inspection report.

How is the claim settlement ratio of Bajaj Allianz?

The claim settlement ratio of Bajaj Allianz is 98%* which is considered as the best claim settlement ratio in the insurance market. The claim settlement ratio would change from time to time and the high settlement ratio indicates the high chance of your claim getting settled.

What are the advantages of Bajaj Allianz car insurance policy if purchased online?

There are many advantages of purchasing car insurance online from Bajaj Allianz general insurance company such as: Instant policy issuance, Policy purchase from your place of comfort, less paperwork, No need to visit office physically etc. These advantages make it attractive to purchase Bajaj Allianz online using the link car insurance policy.

Can I get Bumper to bumper cover for my car?

Yes, you can purchase bumper to bumper cover for your car from Bajaj Allianz general insurance company for cars which are aged not more than 5 years. Bumper to bumper is also known as zero depreciation cover which settles the depreciation cost at the time of a claim. Additional premium needs to be paid if you opt for bumper to bumper cover along with the comprehensive car insurance.

If I renew my car insurance with Bajaj Allianz, will my NCB stay intact?

No claim bonus is given to the driver/owner of the car based on the driving behaviour and is eligible to be carried forward at the time of renewal. NCB stays intact if you renew your car insurance with Bajaj Allianz if your previous car insurance with a different insurance company. No claim bonus becomes zero if there is any reported claim in the previous year.

Can I purchase only Third party car insurance?

Yes, only third party car insurance can be purchased as it is mandatory to have a TP insurance to drive in public places. But it is advisable to have a comprehensive car insurance policy to safeguard your financial interests. Third party car insurance premium is decided by the Government of India and is subject to change each year.

What is Comprehensive Car insurance?

Comprehensive car insurance from Bajaj Allianz covers the loss or damage to the car due to any of the insured peril acting at the time of accident. Third party insurance covers only the legal liability arising out of bodily injury or death of third parties due to an accident involving the insured car. Third party section also covers the property damage of third parties involved in the accident.

Does Bajaj Allianz offer any discount for online purchase?

Bajaj Allianz offers extra 5% discount for online purchase of car insurance. To avail extra discount on your car insurance please visit the online portal . The extra discount would be offered on the own damage section of the car insurance whereas the TP premium is pre fixed based on the cubic capacity of the car.

What type of cars/ four wheelers does Bajaj Allianz insure?

Bajaj Allianz insures every make and model four wheeler cars up to the age of 20 years considering the date of registration. Any model car insurance can be purchased online from Bajaj Allianz general insurance company. For vehicles more than 20 years of age, please contact our car insurance expert who will assist you with your car insurance renewal from Bajaj Allianz general insurance company.

What is the Sum Insured in my Car insurance policy?

The Insured Declared Value (IDV) of the vehicle will be deemed to be the sum insured for the purpose of the policy which is agreed at the commencement of each policy period for the insured vehicle. The maximum liability of the insurance company in case of an accident would not exceed the insured declared value mentioned in the policy copy. The insured declared value will be agreed by both the parties before the commencement of the risk.

The IDV of the vehicle is fixed on the basis of Manufacturers selling price of any particular brand of car and is adjusted for depreciation each year. The schedule of age wise depreciation is shown below:-

Age of the Vehicle % of IDV depreciation
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%

How is deprecation calculated in Bajaj Allianz car insurance policy?

Depreciation is the decrease in the value of the parts of car as a result of wear and tear of the car over a period of time. The depreciation factor is taken into consideration at the time of claim settlement by the insurance company. The percentage of depreciation is different for different parts of the car which are mentioned below:-

Type of part % of Depreciation
Rubber/ nylon / plastic parts, tyres and tubes, batteries and air bags 50%
Fibre glass components 30%
Glass Parts NIL
  • In the case of painting, depreciation rate of 50% shall be applied only on the material cost of total painting charges. In case of a consolidated bill for painting charges, the material component shall be considered as 25% of the total painting charges for the purpose of applying the depreciation.
  • Rate of depreciation for all other parts including wooden parts would be as per the below table:

Age of the Vehicle % of IDV depreciation
Not exceeding 6 months NIL
Exceeding 6 months but not exceeding 1 year 5%
Exceeding 1 year but not exceeding 2 years 10%
Exceeding 2 years but not exceeding 3 years 15%
Exceeding 3 years but not exceeding 4 years 25%
Exceeding 4 years but not exceeding 5 years 35%
Exceeding 5 years but not exceeding 10 years 40%
Exceeding 10 years 50%

How to reduce my car insurance premium with Bajaj Allianz car insurance policy?

Bajaj Allianz provides special discounts to customers in the below cases and the car insurance premium can be reduced by following the below tips:

  • Automobile Association membership reduces the premium to be paid by the customer for car insurance policy.
  • Fitting an Anti theft device such as GPS, Steering Lock, Tyre Lock, Burglary alarms etc., can reduce the car insurance premium considerably.
  • Opting for higher voluntary deductibles can also reduce the car insurance premium to be paid by the customer.
  • Restricting the third party property damage limit can also reduce the premium to be paid by the insured.

What is Cover Note in Bajaj Allianz Car insurance?

Cover note is a temporary document issued to the customer which mentions the risk acceptance of the insurance company in return for the premium paid. The cover note is considered as a temporary car insurance policy copy. The validity of a cover note is for 90 days after which it should be renewed. The use of cover note is reduced drastically these days after the introduction of online car insurance policy issuance.

My car insurance policy has expired, how to renew?

The process of renewal of expired or break-in car insurance policy is made simple with Bajaj Allianz general insurance company. A pre inspection would be carried out by a third party associated with Bajaj Allianz or an inspection link would be sent to customer to carry out the pre inspection. This process is carried out by the insurance company to understand the risk being accepted from the customer. The pre inspection is carried in the below scenarios as well:-

  • Break-in insurance
  • Conversion of TP insurance policy to a Comprehensive insurance policy
  • Fresh Payment after cheque bounce
  • Addition of add-ons which were not opted in the previous year.
  • Name transfer in case of sale/ purchase of vehicle.

I have paid premium twice by mistake, how can I claim refund?

The premium towards the purchase of Bajaj Allianz car insurance policy with PolicyBachat is Safe, Simple and 100% Secure. There might be instances where the amount was deducted twice for a single policy. In these cases there is no need for the customer to panic as the refund would be processed by the Bajaj Allianz general insurance company. Customer can make a formal request to the insurance company for refund if the refund is not processed automatically.

What is the GST under car insurance?

Car insurance premiums attract 18% GST. The GST is calculated on the total premium which includes the Own damage premium as well as the Third party premium. The GST paid by the customer will be redirected to the government of India and doesn’t count for the premium accumulated by the insurance company.

What is the grace period in Bajaj Allianz car insurance?

Grace period is the time given to the customer for premium payment to prevent the policy from lapsing thereby giving a chance to customer to enjoy the benefits of the insurance. Unfortunately in motor insurance there is no option of grace period, which means that the car insurance will lapse immediately after the expiry of the policy period and requires pre inspection before the issuance of a new policy.

What is the free look period in Bajaj Allianz car insurance?

Bajaj Allianz car insurance policy has a free look period of 15 days within which the customer can surrender the policy if he/she is not satisfied with the service of the company or the policy is not in accordance with the quote submitted before policy issuance. There would be no penalty for cancellation within the free look period. The free look period is also called as cooling off period.

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