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WHAT IS CAR INSURANCE?

Car Insurance is a contract you and your insurer enter into, to protect you from financial damages caused by unforeseeable circumstances like accidents, theft, and even natural calamities. The Government of India has made it mandatory for all car owners to have a third-party car insurance policy. This policy covers the damages caused to life and property of individuals, other than you, affected by an accident your car unfortunately becomes a part of. The other most common form of insurance is Comprehensive Car Insurance. It helps you cover majority of the liabilities you might attract if your car gets damaged in a social unrest, natural calamity, or even gets stolen in a case of theft.

As a car owner, it is important for you to have the right car insurance policy. When searching for car insurance online, make sure you completely understand the nature and terms & conditions of the policy. Bajaj Allianz Team is here to help you navigate the journey of having our own car insurance with a seamless process.  

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Why Should You Buy A Car Insurance Policy?

Buying a car is one thing and maintaining it is something that is completely different. The roads are some of the most uncertain places, where negligence, ignorance, carelessness or just sheer bad luck can bring about a lot of consequences to you and your car.

And as a car owner, these consequences do cost you a lot. From a small dent on the trunk to major accidents and natural disasters, a car on the road is subjected to diverse threats on a daily basis. Moreover, money is involved in every stage of the car’s recovery and safety. That’s why a car insurance policy becomes inevitable in today’s day and age.

If you haven’t taken four wheeler insurance for your car yet or if you’ve just bought a new car and are looking for a car insurance policy, here are some extensive reasons you should get one today.

Covers Expenses On Own Damage

Apart from accidents, cars can be damaged due to natural disasters, natural instances or their own technical glitches and malfunctions. Regardless of the reason, expenses are involved in getting the car serviced. That’s why it’s ideal to buy a car insurance as it covers damages arising due to uncommon reasons.

Third-party Liabilities

A car is a machine that is subjected to technical issues. A car gone out of control is a threat to civilians and public properties. If there has been an accident with you on the driver’s seat, you are bound to compensate for the damages caused. If you have a car insurance policy, your insurance company would take care of the expenses.

Personal Accidents

Having a four wheeler insurance is like driving with a lifeguard. There is a backup you have to cover the expenses incurred due to car accidents. A proper car insurance policy also compensates for permanent disability arising due to a car accident. This is an ideal financial support that is inevitable for families.

Mandatory By Law

If you are a car owner, you should mandatorily have a minimum of a third-party car insurance according to the Motor Vehicles Act. Failing to have is an offence and you could be penalized for it when caught.

Extended Benefits with Add-ons

Apart from the benefits you just saw, you could include add-on benefits such as zero depreciation cover, consumables cover, breakdown assistance, conveyance benefits and more when you buy car insurance. This only makes your policy more airtight.

Additional Convenience

An extensive online four wheeler insurance policy also allows you to experience benefits like coverage of personal baggage theft/damage, paperless-digital insurance applications and processing, online claims, spot services and more.

Why Choose Bajaj Allianz Car Insurance?

There are several reasons to choose Bajaj Allianz Car Insurance:

Key Feature Bajaj Allianz Car Insurance Benefit
Cashless Services Across 4,500+ Network Garages
Cashless Hospitalization Across 6,500+ Hospitals
Time to Get a Car Insurance Less than 3 Minutes
Claim Facility Cashless
No Claim Transfer Bonus Transfer Yes, up to 50%
Tailored Add-ons 7+ Including Engine Protector
Claims Process Digital - Within 20 Minutes
Claims Settlement Ratio 98%
On-The-Spot Settlement Yes, Through Caringly Yours App

Types Of Car Insurance In India

A four wheeler insurance is inevitable. If you’re looking for an ideal car insurance policy, Bajaj Allianz offers you three types of car insurance policies to choose from. Car insurance prices vary depending on their type. Based on your requirement and budget, you can choose the one that is most appropriate to you.

Let’s look at some of the types of car insurance we offer.

Comprehensive Car Insurance

This is the most complete and airtight car insurance policy you could get for your online four wheeler insurance. Apart from third-party liability, comprehensive car insurance covers own damages expenses such as burglary, explosion, flooding, water clogging and more.

A comprehensive car insurance policy offers you the liberty to include add-ons to your policy and bring in a range of extensive benefits for the protection of you and your car. This includes engine protector, personal baggage, zero depreciation, accessories cover and more.

This is the ultimate online four wheeler insurance that gives you a holistic protection from all forms of threats, dangers and consequences.

Key Benefits

  • Third-party liability
  • Own Damage expenses
  • Options to include add-ons

Third-party Car Insurance

This is the most basic and mandatory car insurance policy you can take for your car. When you third party car insurance, you are letting us – your insurance company – take care of all legal obligations that could arise due to an accident caused by you. Your insurer will compensate for the financial losses you incur due to your accident that could be death, injury, disability, or damage to third-party life and property.

As far as the pricing of the premiums are concerned, it depends on your engine capacity. Take a look at the chart below to get an estimate of your monthly premium.

Engine Capacity Third-party Premium for Renewal Third-party Premium for New Vehicle
Below 1,000CC Rs.2,072 Rs.5,286
Above 1,000CC and Below 1,500CC Rs.3,221 Rs.9,534
Above 1,500CC Depending on IDV Depending on IDV

Key Benefits

  • You don’t have to pay for the damages caused for your involvement in an accident.
  • Your expenses would be taken care of by the insurance company when you experience damage, death or disability.

Standalone Car Insurance

When you buy car insurance, you could also look for a standalone car insurance. The expenses you incur in recovering your car from any damages to your car is covered under a standalone car insurance. There are three types of expenses you can cover with this type of insurance:

  • Theft of your car
  • any road accident
  • mishaps due to natural calamities like floods, earthquake and more

One of the primary aspects you should understand is that a standalone car insurance does not cover any third-party liabilities. It is not comprehensive car insurance either. This is just to protect your wallet (and your car) from damages.

As you know, third-party insurance is mandatory for your car. Once you have this insurance, you could opt for a standalone insurance for your car. Similar to your comprehensive car insurance, you could also include add-ons to further make your insurance airtight.

Standalone Car Insurance Exclusions

The following expenses or damages are not covered under a standalone car insurance –

  • Mechanical or electrical malfunctioning
  • Your car’s depreciation
  • And damages due to driving under influence

Like any other car insurance, you can buy standalone car insurance online in a few simple steps. So, if you’re looking to buy a standalone car insurance, go for one today.

Usage-based Motor Insurance

Like the name suggests, this type of car insurance policy lets you pay a premium that is based on the number of kilometres driven. This is a new class of motor insurance policy that requires you to estimate the amount of kilometre you intend to drive or are most likely to drive during your premium tenure.

This is highly beneficial for you if you don’t use your car frequently and would like to keep car insurance prices at bare minimum. There are three slabs you are required to declare one from - 2,500km, 5000km and 7,500km.

It’s simple to buy car insurance that is usage-based and all you have to do is go to the website or an app and select usage-based motor insurance option to get your car insured in three minutes.

Key Benefits

  • Coverage of expenses due to own damage
  • Third-party liability expenses

Car Insurance Covers After IRDAI’s New Rule

IRDAI announced a new regulation with respect to car insurance covers that came into effect August 1, 2020. According to this new rule, general insurance companies were asked to withdraw insurance packages that were long-term (3 to 5 years) on third-party liability and own-damage.

This regulation arrives modifying the announcement in 2018 that was made in favour of long-term packages. This move ensures that car owners now incur less expenses when they buy car insurance online and save further on their monthly premiums.

Here’s a table that explains the new regulation in detail.

Insurance Package IRDAI 2018 Regulation IRDAI 2020 Regulation
Long-term Package 3 Year Third-party and 3 Year Own Damage Scrapped
Bundled Package 3 Year Third-party and 1 Year Own Damage Retained - 3 Year Third-party and 1 Year Own Damage
Basic 3 Year Third-party only Retained - 3 Year Third-party Only

Car Insurance Coverage

Each car insurance policy covers a range of standalone and overlapping features. Depending on your requirements and budget, your policy coverage would change accordingly. Here is a comprehensive outlook of the plans and features covered.

Insurance Package Pay-As-You Go Third-party Liability Comprehensive
Expenses on 3rd Party Vehicles Yes Yes Yes
Expenses on own car damage Yes No Yes
Burglary/Theft No No Yes
Damage due to fire No No Yes
Damage due to natural disasters No No Yes
Personal accident No Yes Yes
Engine protection No No Yes
CNG Kit Coverage No No Add-on
Depreciation Shield No No No
Accessories Cover No No Add-on

While this may give you an overview of car insurance coverage, you should always check with insurance providers, to know more about your desired policy. Also, to peruse the detailed list of inclusions & exclusions, refer to the car insurance policy wordings.

Compulsory Personal Accident Cover In Car Insurance

There have been quite misconceptions around personal accident cover being mandatory. So, let us shed some light on this.

According to the Motor Vehicles Act of 1988, car owners and drivers are mandatorily required to have third-party liability insurance as a minimum car insurance policy. Like you know, this covers expenses on 3rd party lives and property damages because of an involvement in an accident.

However, what also needed attention was the losses car owners or drivers incurred because of the accident. From car damages to bodily harms of drivers, the expenses were significantly high for them as well.

To decrease the financial burden for car owners and drivers, it was made mandatory for owners to have personal accident cover as well. From January 2019, the Motor Vehicles Act made it compulsory for car owners to include personal accident cover in their policy.

There are two major changes implied -

  • A waiver that can be offered to car owners/drivers when they have personal accident cover in their policy with a minimum insured amount of Rs.15lacs
  • The vehicle owner/driver having this personal accident cover in their policy for an existing vehicle does not have to buy a fresh insurance policy for a new vehicle

Regardless of which car insurance policy you choose, you can include personal accident cover in your policy seamlessly.

Third Party Vs Comprehensive Car Insurance Policy

If this is the first time you are getting a care insurance policy or if you’re looking for the most suitable policy, it is vital that you completely understand the differences between a third-party policy and a comprehensive car insurance policy. The table below distinguishes between the two across several crucial factors that would help you take the right decision.

Factors Car Insurance Third-party Comprehensive Car Insurance
About The foundational car insurance policy that only takes care of the liabilities arising due to a car accident. This includes the damages you cause to third-party lives and property. The most extensive policy that factors some of the most prominent expenses you are likely to incur during a mishap.
What It Covers It covers damages caused to people because of your accident and damages to 3rd party property and materials because of your car.
It also includes a mandatory personal accident cover to take care of your expenses on personal injuries arising due to an accident as well.
It includes third-party coverage plus coverage on expenses you incur for the servicing or repairing of your car.
Also covers expenses on damage to own car due to natural disasters or undesirable activities like flooding, theft and more.
Benefits You don’t have to shell out money from your wallet for 3rd-party settlements for accidents involved. You don’t have to shell out money from your wallet for 3rd-party settlements as well as the recovery of your own car and health.
Limitation It excludes the expenses you would incur on your car’s recovery. It is comparatively more expensive than your 3rd-party insurance policy.
Add-ons No option to include add-ons It gives you the liberty to tailor your insurance policy according to your needs. You could feature add-ons such as depreciation shield, engine protection, conveyance and more.
Premium Charges IRDAI governs the policy pricing based on the engine capacity of your car. Comparatively higher and dependent on your car’s model, brand, usage and more but offers complete protection against all forms of threats.
Bajaj Allianz Recommends 3rd-party insurance if you drive occasionally or own an old car Comprehensive insurance if you are a frequent or an everyday driver and require extensive coverage. If no claims have been made in your tenure, you can also opt for a No Claims Bonus in the end.
Bajaj Allianz Recommends 3rd-party insurance if you drive occasionally or own an old car Comprehensive insurance if you are a frequent or an everyday driver and require extensive coverage. If no claims have been made in your tenure, you can also opt for a No Claims Bonus in the end.
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Exclusions of A Car Insurance Policy

While it is important to know what features are included in four wheeler insurance, it is equally vital to understand the exclusions so you are always on the safer side of your financial conditions. The following features are excluded from a car insurance policy –

  • Expenses on damages or losses when the policy is not in force
  • Expenses on damages or losses that are beyond the guidelines of your car’s manufacturer
  • Depreciation of your car and its spare parts
  • Expenses on damages or losses due to drunk-and-driving cases
  • Expenses on damages or losses due to leakage of oil
  • Expenses on damages or losses due to driving without a valid licence

How To Select A Suitable Car Insurance Cover?

Car Type Ideal Car Insurance Cover
Old Car (> 5 Years) Third-party Cover
Pre-owned Car Comprehensive Cover
Car Prone To Frequent Floods Comprehensive Cover + Engine Protector Add-on
Car Used For Long Distance Driving Comprehensive Cover + 24X7 Spot Assistance Add-on
Luxury Car Comprehensive Cover + Add-ons (Depreciation Shield + Engine Protector + Consumables Expenses)
New Car Comprehensive Cover + Depreciation Shield Add-on

Factors That Affect Four Wheeler Insurance Premium

So, you have finally bought your dream car. You have insured it as well. You finally drive your car down to your office to share this pleasant news with your colleagues and friends. Just then a friend of yours asks you about the premium you pay every month. And when you share, he reveals that his premiums are comparatively lesser in price. Both of you have bought a car at similar times but you end up wondering how the difference in premiums stems in the first place.

It’s simple. Car insurance prices are not generic. Meaning, insurance companies do not offer a one-size-fits-all policy to their customers. A lot of factors go into consideration that directly affect or influence how much you pay as a premium for your car’s insurance.

To give you a quick idea, here are some of the most prominent factors considered.

Car Type

The make and manufacturer of your car are important factors that affect your car insurance premium. Car insurance companies maintain a separate report of claim ratios of diverse car manufacturers and their models. This is a crucial factor as car models with more claims ratio usually tend to have higher premiums.

Also, high-end and luxury cars have a significantly high four wheeler insurance premium when compared to their mid-range and low-end counterparts.

Apart from this, your car’s fuel type and accessories (or modifications) also affect your premium rates. Your insurance premium is likely to be higher if your car runs on diesel or CNG. As far as modifications are concerned, they are generally not included in an insurance policy. And you would end up paying more if you intend to insure them as well. This includes spoilers, rails, paint job and more.

Insured Declared Value

Your car has a market value set by your insurer. This is called an Insured Declared Value or IDV. Due to the regular wear and tear of spare parts and your car caused by ageing, your car loses its market value with the passage of time. This in-turn reduces your car’s IDV.

This IDV has a direct influence on your four wheeler insurance premium. The more your car’s IDV, the higher the insurance premium.

The general formula to determine your car’s IDV is this –

Insured Declared Value = your car manufacturer’s listed price or selling price – your car’s depreciation.

To the formula, add the costs you incurred in getting car accessories to your car’s selling price if you have modified your car.

To help you understand better, here is a table that shows in detail the depreciation percentage with respect to the increase in the car’s age.

Car’s Age Depreciation %
< 6 Months 0
6 Months – 1 Year 5%
1 – 2 Years 10%
2 – 3 Years 15%
3 – 4 Years 25%
4 – 5 Years 35%
5 – 10 Years 40%
> 10 Years 50%

Location Of Registration/Zone

Where you live or buy a car immensely influences your four wheeler insurance premium. If you live in a zone or city with prominent traffic, you are more likely to pay a higher premium. That’s why premiums tend to be higher in metropolitan and tier-2 cities, where traffic is usually high.

Type Of Coverage

The type of insurance policy you have availed for your car has a direct impact on your insurance premium. If you have chosen a basic car insurance policy like third-party insurance, your premium will be low. And if you choose a comprehensive four wheeler insurance with add-ons to ensure maximum risk coverage, you are bound to pay a higher premium.

Additional Covers

Also called add-ons, these are additional benefits you attribute to your car insurance for maximum benefits. Generally, add-ons address specific and unique aspects of car protection that are not included in an insurance policy. If you opt for engine protector, personal baggage protection, key and lock protection, 24/7 spot assistance and more to your car insurance, your premium will be higher.

No Claims Bonus

A No Claims Bonus is also known as an NCB. This is offered by your insurance company as a reward for not availing an insurance amount for a specific period of time. Depending on your insurer, this duration varies. This bonus only increases with the increase in the number of years you haven’t claimed any insurance. And this bonus can fetch you discounts on your four wheeler insurance premium, thereby decreasing the price you pay every month.

For instance, if you don’t claim insurance for two consecutive years, you are likely to get a discount of up to 25% on your insurance premium. To get an extensive idea about No Claims Bonus, check out the table below.

Claim-Free Years Discount
One 20%
Two Consecutive 25%
Three Consecutive 35%
Four Consecutive 40%
Five Consecutive 50%

Voluntary Excess

Voluntary excess is when you step forward to pay extra for your car insurance to share a portion of your car’s risks. In voluntary excess, you voluntarily pay excess to your car insurance policy so that when you have to make a claim, this amount is deducted by your insurer and the remaining amount of your claim is taken care of by your insurance company. This is otherwise called deductibles. For instance, let’s assume you buy car insurance online. When buying you have paid a voluntary excess of Rs. 4500. Now when the value of your claims is Rs. 9000. Your insurance company will bear the half of the value and you the other half. The benefit of availing a voluntary excess is it allows you to get discounts on your car premiums. So, depending on this, your four wheeler insurance premium would be higher or lower. Depending on how much you have paid as an excess voluntarily, you are eligible for a specific discount slab. The table below gives you a holistic view of this.

Voluntary Excess Discount
Rs. 2,500 20% discount on premium (up to Rs. 750)
Rs. 5,000 25% discount on premium (up to Rs. 1,500)
Rs. 7,500 30% discount on premium (up to Rs. 2,000)
Rs. 15,000 35% discount on premium (up to Rs. 2,500)

Anti-Theft Features

Anti-theft features include any security systems or digital locks installed for an added layer of your car’s security. When you have such accessories installed, your four wheeler insurance premium is more likely to go down.

Special Discounts

There are several discounts which you can avail from your four wheeler insurance provider. When you avail such discounts, your premiums are bound to reduce comparatively. With Bajaj Allianz, you can avail the following discounts when you -

  • are associated with a recognized automobile association as a member
  • have anti-theft features and devices installed in your car
  • have opted for voluntary excess
  • coverage is specific to a particular geographical location

Steps To Calculate Car Insurance Premium Online

With our quick and simple car insurance premium calculator, you can get car insurance quotes online in seconds. To know your premium amount, just follow the steps below.

Step 1

Head to our car insurance calculator

Step 2

Enter your name & provide additional details like your existing Bajaj Allianz policy and your contact details

Step 3

Provide the registration number of your car or specify it’s a new car if your car is yet to roll out. Specify details of your car’s make, model and variant

Step 4

Mention the geographical location of your car’s registration and specify the date of registration. Mention your pin code

Step 5

Your premium would reach your email address instantly

Benefits Of Buying Car Insurance Online

The internet is all about experiencing convenience. The technological advancements in recent times have allowed mankind to operate vehicles from remote places and send rovers to distant planets. Buying car insurance online is not a big deal. It’s easy, user friendly and allows you to avail one in minutes.

If you have been apprehensive about buying a car insurance online, let us remind you that buying online is one of the simplest and quickest ways to insure your car. To help you get a better idea of how convenient it is. Here are some benefits of buying car insurance online.

Car Insurance Comparison

Deciding on a car insurance policy is as difficult as deciding on a car. From one showroom to another, you walk around for the best price, offers, specifications, preferred colour, deals and more and finally zero-in on one. Buying four wheeler insurance is similar to this.

You explore multiple options – from the basics to comprehensive car insurance policies with add-ons – you extensively check out plans, calculate premiums, look for discounts and more before deciding on one.

But this complexity in finding a car insurance policy is simplified by the internet as it allows you to compare car insurance policies simultaneously under your preferred parameters and instantly get an idea of which policy makes more sense and affordable. This way, you avoid going from one provider to another in search of savings and benefits.

Though an agent can offer you the details, there could be times they are biased as well. So, a computer-generated quote with no agenda is what you need. This makes buying car insurance online an ideal choice.

Completely Customizable

Like we saw, a four wheeler insurance policy is very subjective and depends on a lot of factors. From generic ones like your car manufacturer and modifications to personal decisions like options for specific add-ons and discounts, you need to tailor your insurance policy.

And buying a car insurance online is the simplest way to get an insurance policy. By simply checking on boxes and features, you can customize your insurance policy, modify add-ons and requirements, generate quotes and checkout to buy your insurance policy online.

Transparent

As far as buying car insurance online is concerned, what you see is what you get. All charges are marked on your quotes and there are no last-minute hidden charges that suddenly pop out of nowhere. You always know how much you would pay and the benefits you get for what you pay before you buy a car insurance. Besides, reading through the terms and conditions are also simple and there are several audio-visual elements to explain complex insurance-related concepts.

Convenience

Imagine you are on your way home in a cab and your car is about to arrive the next day. You immediately pull out your app or a website on your smartphone and get car insurance in a few minutes before you reach home. Buying a car insurance online is as convenient as it gets because regardless of where you are, you can get car insurance almost instantly.

Zero Agents Involved

Like we mentioned, you won’t be subjected to an agent’s bias when buying a car insurance online and regret later. With online facilities, you directly interact with your service provider and every little detail you need to know to buy insurance is provided to you. You can make informed decisions without an agent and walk away with an insurance policy that only works in your favour.

Verify Insurer’s Credibility

One of the best benefits of buying car insurance online is that you can validate your insurer’s credibility. You can explore your insurance provider’s website and review portals to look for their settlements ratio and records and see in detail how they assist their customers when it comes to claims and support. Depending on reviews and records, you can make a wise choice of going ahead with them or checking out more options.

Validity Of Policy

Online policies are as legitimate as traditionally-purchased policies. When you buy car insurance online, your copies are immediately sent to your email address you specify and become valid the moment you make your payment. You can then take a print out of your paper and document them for use. With online insurance, there is no need to feel paranoid at all.

Instantly Receive Policy

Once you make your payment, all you need to do is head to your email inbox. You would see your car insurance policy waiting right there for you. You can check for the details and print them out for use. No hassles. No interruptions. Buying car insurance online is the best.

Zero Paperwork

Imagine protecting your car and your environment from risks. That’s what happens when you buy car insurance online. There is no form-filling involved, no document submission and more. You mention your details, upload documents, and the policy reaches you as a document. End of process.

How To Buy Car Insurance Online In India?

With Bajaj Allianz, you can get car insurance online in just five simple steps.

Step 1

Go to our website

Step 2

Specify the details of your car such as its model and manufacturer, variant and city

Step 3

Choose your plan that best suits your needs

Step 4

Mention the details of any existing insurance policies such as its validity, any claims made and no claims details

Step 5

Your quote is automatically generated. If you have opted for a comprehensive plan, you can include add-ons for further protection, mention your car’s IDV and see the overall price for your premiums

Step 6

Simply make the payment and instantly receive your insurance on email in seconds

Buying car insurance online is as simple as that.

Car Insurance Claim Procedure

The moment your car insurance is live and valid, you are eligible to make claims when an accident happens. In simple words, a motor insurance claim is when you ask your car insurance company to take charge or compensate for the damages caused due to an accident. Depending on the inclusions and exclusions in your plan, your insurer will back you up financially.

As far as third-party insurance is concerned, claims are when you call your insurer to represent you or intervene for settlements to the damages caused because of your accident to a third-party. This may be damages to life or property.

There are two types of insurance claims - cashless claims and reimbursement claims. Let’s look at both in detail and their distinct procedures.

Cashless Car Insurance Claims

In a cashless claim, you don’t have to pay for the recovery of any damage to your car out of your pocket. Your insurance provider will pay for the damages directly to your garage or workshop and take care of the entire recovery process as specified and mentioned in your car insurance policy.

Availing cashless insurance claims is easy. Simply follow the steps mentioned below:

  • Call your insurance provider or visit your provider’s website or an app to register your cashless claim.
  • Receive the claims registration number that is sent to you on successful registration.
  • Move your damaged car to an authorized cashless garage shed to initiate the repairs. For cashless garage, you can take your vehicle only to network garages as transactions between your insurance provider and the garage happen directly.
  • Submit the required documents to your surveyor.
  • Once surveyed, your insurance company confirms the liability.

Reimbursement Claims Insurance Policy

In this, you have to shell out money from your wallet to recover the damages to your car. Your insurance company then intervenes and reimburses the expenses you incurred in the process after successful verification of documents and coverages.

Here’s how you can avail reimbursement claims:

  • Call your insurance provider or visit your provider’s website or an app to register your reimbursement claim.
  • Receive the claims registration number which is sent to you on successful registration.
  • Move your damaged car to a garage near you. In this case, it is not mandatory to get your car serviced from a network authorized garage.
  • Submit the required documents to your surveyor.
  • Once surveyed, your insurance company confirms the liability and initiates the reimbursement procedure.

Car Insurance OTS Claims

This is the latest offering that has been made seamless because of tech intervention. OTS stands for On-The-Spot and like the name suggests, this allows you to make spot claims of your insurance.

Yes, with the OTS feature, you can now avail claims of up to Rs. 30,000 on the spot and get the amount transferred for services and recovery in 20 minutes or less.

How to Avail OTS Claims?

  • Download the mobile app and sign in with your details.
  • Click pictures of your damaged car and upload them to your app.
  • The images will be verified and the claimed amount will reach your bank account in a very short time.

Benefits Of Renewing Car Insurance Online

All car insurance policies have a specific duration of validity and you have to be mindful of your plan’s expiry date. This is because when your four wheeler insurance policy is expired, you are completely vulnerable to the risks involved. To secure your car and your financial standings from taking a dent, you need to ensure your insurance policies are renewed consistently. For those of you who are new to this, driving without a valid insurance is an offence as well.

So, car insurance renewal becomes all the more crucial. However, renewing your insurance policy shouldn’t be complex as you can do them instantly online. Here are some benefits you experience when you renew car insurance online.

Save Time

Similar to buying a new car insurance policy online, renewing one is time-saving, too. In just a few clicks, you can renew your policy and get it delivered directly to your inbox.

Modify Your Plans

If you require a different plan because your car has become old or if you intend to pay lesser premiums, you can do them seamlessly when renewing online. From customizing your plan to modifying existing plans, renewals can be done in the simplest of ways.

Prolong Your No Claims Bonus

When you renew, you also get to avail your no claims bonus if you haven’t availed an insurance during your previous tenure.

Post-Sales Services

Because you are extending your collaboration with your insurance provider, you also get added perks and bonuses for your continued patronage and support.

Expert Consultation

If you have any questions about your car insurance renewal or looking for better and more ideal plans, you could get in touch immediately with your insurance company’s experts and get your questions answered. Better decisions are just a call away.

Safe

Online car insurance renewals are safe and convenient. All you have to ensure is that you are renewing through a verified or credible website. The best options would be to go to your insurance provider’s official website or an app.

Buy/Renew Four Wheeler Insurance for a Secondhand Car

Similar to your brand new car, a pre-owned car requires a substantial insurance policy as well. But there are several overlapping layers attached to this as the previous owner of your car would have already gotten a valid car insurance online. If there exists an insurance, get it transferred to your name. This happens in less than two weeks.

So, when you intend to buy car insurance online for your pre-owned car, ensure to look at the following factors.

  • Look for your car’s claims history as it will give you an idea of the previous claims made. Once the policy is transferred to your name, you can simply enter your policy number on your provider’s website and get the details.
  • Ensure you transfer your no claims bonus to your car insurance to continue to avail benefits.
  • If there is no insurance availed by the previous owner or if it has expired, you can get new insurance for your car immediately.
  • Once the transfer of car insurance policy happens, make sure you check for its expiry date. If the validity of your four wheeler insurance is about to expire soon, renew it on time.

Buy/Renew Four Wheeler Insurance for An Old Car

Old cars deserve equal amounts of attention and protection as do new cars. If you have purchased an old car or if you are looking for a solid insurance policy for your old car, you can get car insurance online. But Bajaj Allianz recommends paying attention to three major factors when you buy car insurance online for your old car.

Check them out below.

Insurance Type

Because you have an old car, its usage would depend on your very specific needs. So, we recommend getting an appropriate insurance policy according to your car usage requirements. If your driving is restricted to weekends or occasions, we suggest you third-party insurance which is a basic insurance policy.

If you intend to use your old car frequently and wish to have added benefits and protections for it, you could go for a comprehensive plan with add-ons.

Insured Declared Value

Or IDV, it stands for the value of your car at a given point of time. Since your car is old, your IDV is bound to be low as well. This further means that you will pay less premiums for your insurance policy. However, you could opt for add-ons and optimized protections for your car and get an insurance policy accordingly.

Add-ons

We have been constantly mentioning add-ons for your old four wheeler insurance policy. By add-ons, we refer to the additional and option protections and coverages your old car could benefit from. There are coverages that take care of expenses arising out of consumables, engine malfunctions, personal baggage losses and more. We suggest you look for options and decide accordingly. Also, because your car is old, some add-ons cannot be included as part of your policy. This includes zero-depreciation shield as your car has already exhausted the slab of five years.

You can satisfy your ‘need for speed’ without worry!

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DOCUMENTS REQUIRED TO BUY CAR INSURANCE ONLINE

When you buy car insurance online, ensure you have the soft copies of the following documents in hand to seamlessly complete the process in minutes -

  • Details about your vehicle including registration number
  • A valid driver’s licence
  • Completed claim form
  • Bank details
  • Tax receipts
  • Filled insurance forms

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ADD ON COVERS

Add-ons are additional features or benefits you add to your car insurance to make it more extensive and airtight. The add-on covers you add only decrease any financial burden you are likely to incur at the event of an accident or a calamity. At the same time, the more the add-ons you include in your policy, the higher the premium you have to pay. For the most ideal four wheeler insurance, we recommend you adding features that are value additions to your policy. Let’s look at some of the add-ons we offer.

Zero Depreciation

Also known as bumper to bumper cover, this is an add-on you could add to your comprehensive car insurance policy. To understand what zero depreciation is, let’s first look at depreciation. Read more

Zero Depreciation

Also known as bumper to bumper cover, this is an add-on you could add to your comprehensive car insurance policy. To understand what zero depreciation is, let’s first look at depreciation.

Cars are highly valuable until you purchase. From the time you purchase, your car is subjected to depreciation, which means that it is losing its value in the market as it gets older. Not just the car but the spare parts powering your car as well. That is why older cars have a low pricing in the market than their recently-purchased counterparts.

With the zero depreciation add-on, what you are basically doing is nullifying the depreciation associated with your car. This means that your car, technically, does not lose value in the market as the depreciation of your car is not considered by your insurer.

So, when you claim your insurance, you receive full value for your car and all of its spare parts. Bumper to bumper cover incurs the most expensive premium and is worth every penny shelled. We highly recommend this add-on especially if your car is less than 5 years old.

Features

  • Depreciation shield for the car
  • Depreciation shield for the spare parts

Engine Protector

Engine is one of the most crucial parts of a car. Unfortunately, however, the expenses you incur on the damages to your car’s engine is not covered under standard car insurance policies. Being one of the most expensive parts for servicing, you end up spending more to recover your car’s engine from a malfunction or an accident. Read more

Engine Protector

Engine is one of the most crucial parts of a car. Unfortunately, however, the expenses you incur on the damages to your car’s engine is not covered under standard car insurance policies. Being one of the most expensive parts for servicing, you end up spending more to recover your car’s engine from a malfunction or an accident.

That’s why the engine protector add-on is the most ideal solution to feature in your insurance policy. It covers expenses arising due to water ingression, oil leakage, hydrostatic lock and more. This helps you save up to 40% of the amount you would spend on getting your car’s engine fixed.

Features

  • Protection against damages to engine and engine parts
  • Protection against damages to differential parts
  • Protection against damages to gear box and gear box parts

24/7 Spot Assistance

One of the most helpful add-ons for your car insurance, this ensures you are never stranded on the road due to any concern associated with your car. Our team is just a call or a click away to assist you or get to you to help you deal with a car situation regardless of where you are stuck in India. Read more

24/7 Spot Assistance

One of the most helpful add-ons for your car insurance, this ensures you are never stranded on the road due to any concern associated with your car. Our team is just a call or a click away to assist you or get to you to help you deal with a car situation regardless of where you are stuck in India.

So, no matter if you have to get a tire changed, or have an expert look into your car’s engine or need assistance in settling an accident, you can reach out to us at any time and we will be there by your side in a very short duration.

Features

  • Pan India Coverage
  • Spot Assistance for diverse car situations

Key And Lock Replacement

Car keys are some of the most misplaced items in the world. From forgetting them at a restaurant to losing them at your own home, car keys are easily overlooked. Sadly, there are expenses involved in getting new keys for your cars as it’s not just the key that has to be replaced but the entire locking system as well. Read more

Key And Lock Replacement

Car keys are some of the most misplaced items in the world. From forgetting them at a restaurant to losing them at your own home, car keys are easily overlooked. Sadly, there are expenses involved in getting new keys for your cars as it’s not just the key that has to be replaced but the entire locking system as well.

That’s why this add-on is here to reduce the expenses you are likely to incur because of misplaced or lost keys. We take care of the entire purchasing and replacing of your car’s lock and keys.

Features

  • Expense coverage on key replacement
  • Expense coverage on lock replacement

Consumable Expenses

Like we said, buying a car and maintaining a car are two different things. There are frequent expenses involved when it comes to the maintenance of your car. From servicing spare parts to replacing them, there are expenses surrounding your car all the time. Read more

Consumable Expenses

Like we said, buying a car and maintaining a car are two different things. There are frequent expenses involved when it comes to the maintenance of your car. From servicing spare parts to replacing them, there are expenses surrounding your car all the time. And we are not even talking about the different types of car oils that need to be changed every now and then and during an accident.

With the consumable expenses coverage, you can let us take care of the expenses involved in the use of consumables for your car at the time of servicing or post-accident.

Features

Consumables expenses involving

  • Engine oil
  • Braking oil
  • Coolant
  • Gear box oil and more

Personal Baggage

A car is your personal and private safe where you leave your belongings inside until your work outside is done. From laptops and expensive gadgets to money or money’s worth of valuables, you keep materials inside your car very frequently. Read more

Personal Baggage

A car is your personal and private safe where you leave your belongings inside until your work outside is done. From laptops and expensive gadgets to money or money’s worth of valuables, you keep materials inside your car very frequently.

But this is not without its threat, where it is subjected to instances like thefts and burglaries especially when you leave your car in less populated avenues or remote places. That’s why the personal baggage add-on protects your personal belongings and covers the loss you incur because of damage or their theft from the car.

Features

  • Indemnification for damage to personal baggage
  • Indemnification for loss of personal baggage

Conveyance Benefit

Another highly convenient add-on, where we take care of the little yet significant concerns you are likely to face in your everyday life post an accident. Read more

Conveyance Benefit

Another highly convenient add-on, where we take care of the little yet significant concerns you are likely to face in your everyday life post an accident.

When your car is getting repaired in a garage and after your claim is accepted by us, this add-on ensures you get paid from us for your everyday commute. With this, you don’t have to worry about burning a hole in your wallet for the daily cab or transportation charges you are likely to pay during your car’s servicing.

Features

  • Conveyance for your everyday commute

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WHY SHOULD YOU RENEW AN EXPIRED CAR INSURANCE POLICY IMMEDIATELY?

It is absolutely vital that you renew your expired four wheeler insurance as early as possible. Like we saw, the primary reason for this is to avoid legal complications as it is illegal to drive without a valid insurance policy.

Apart from this, there are two major reasons you should renew your car insurance immediately –

To Avail Your No Claims Bonus

When you don’t renew your policy, you will lose out on your no claims bonus you are eligible for. Your bonus accumulates over the years to fetch you good discounts and other benefits. If you don’t renew, they would lapse.

Financial Burden

Without a car insurance policy, you should bear the financial burden that stems out of misfortunes like accidents or damages to your car. You will have to pay from your savings or pocket for the recovery of your car. To prevent financial burden of any sorts, renewing four wheeler insurance is highly recommended.

You can renew car insurance online seamlessly. 

All you need to know about your car insurance policy.

IMPORTANT POINTS TO NOTE BEFORE BUYING CAR INSURANCE

  • Inclusions
  • Exclusions

Loss due to natural calamities

We may not have the power to prevent them but we will cover your car against naturally occurring calamities such as fire, explosion, self-ignition or lightning, 

Read more

Loss due to natural calamities

We may not have the power to prevent them but we will cover your car against naturally occurring calamities such as fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide. 

Loss Due to Man-Made Calamities

Man-made calamities reveal the dark side of humanity but we will help lessen the blow by covering your car against burglary, theft, riot, strike, malicious act, 

Read more

Loss Due to Man-Made Calamities

Man-made calamities reveal the dark side of humanity but we will help lessen the blow by covering your car against burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity and any damage during transit by road, rail, inland waterway, lift, elevator or air.

Personal Accident Cover

Your car is precious, yes, but so are you. The Personal Accident cover provides coverage of Rs 15 lakh to the owner-driver of the car while driving or travelling and while mounting or dismounting.

Read more

Personal Accident Cover

Your car is precious, yes, but so are you. The Personal Accident cover provides coverage of Rs 15 lakh to the owner-driver of the car while driving or travelling and while mounting or dismounting. Optional personal accident cover for passengers and paid driver is also available.

Third Party Legal Liability

If you happen to be involved in an accident that results in damage to property or loss of life of a third party individual, we help you cover the legal obligations arising from it.

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Depreciation

Normal wear and tear and general ageing of the vehicle and consumables like tyres and tubes is not covered. Neither is depreciation or any consequential loss. 

Influence of Substances

We promote safe driving and hence, any damage caused to the vehicle by a person driving it under the influence of substances like liquor or drugs is not covered.

Invalid license

Since getting your wheels on the road without a valid license is illegal, we too do not cover damages caused by a person driving the vehicle without a valid license. 

War, Mutiny or Nuclear Risk

Just like in a zombie apocalypse, the situation during war, mutiny and nuclear risk, is chaotic and uncontrollable and any damage to your car during such events is not covered. 

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Customer Stories

Average Rating:

 4.67

(Based on 18,050 reviews & ratings)

Shankar. N

“Got my car insured in minutes.”

It was only in a Monday morning that I realized my car insurance had expired. I had a few minutes during breakfast before I left for work. Never realized renewing...

Rahul

“A range of options to choose from.”

Being a perfectionist, I prefer the best of everything. I wanted my car insurance policy to be airtight as well. With the add-ons and comprehensive plans,...

Meera

“OTS claims was a blessing in disguise.”

I was in the middle of the road when a mishap happened. With cash crunch, I was looking for ways to get my car serviced without affecting my monthly budget...

Car Insurance FAQs

Why do I need to insure my vehicle?

The Motor Vehicle Act of 1988 mandates that every vehicle shall have an insurance policy. An insurance policy provides a blanket cover protecting you from losses, accidental, theft, or otherwise. Additionally, car insurance also compensates for damages to co-passengers and other vehicles. 

How much fine do I have to pay in case I do not have Car Insurance?

The first time offence of driving without car insurance levies fine of INR 2000/- and/or incarceration of up to 3 months. Repeated offence will invite charges of INR 4000/- and/or imprisonment of up to 3 months.

What are the types of car insurance in India?

Out of the two types of car insurance, Third-Party and Comprehensive Insurance, the latter covers damages to you, your property, along with damages to the third party (body and property). In contrast, the third-party insurance body injury or death and property damage of the other person. 

What are the different types of vehicles that can be insured online?

For better accessibility, customers can avail of Two-Wheeler, Car Insurance, and commercial vehicle insurance online. Following a simple process of submitting the details, you can obtain the final quote before moving ahead. However, the quotes may vary depending on several factors. 

What are the things to remember before buying a car insurance policy?

Select a reputed insurance provider followed by their claim settlement time and ratio. Check for the added features like garage network, cashless claims, accessibility benefits (online payments and claims). Run a comparative analysis before selecting your ideal insurance provider. 

What are the stepwise procedures to get car insurance?

Follow the procedure to get car insurance online:

#1 For new car insurance click on “Get a Quote.”

#2 To renew the existing policy, click on Renew.

#3 Fill in the vehicle and your details.

#4 Select a quote.

#5 Pay the said amount, and the policy will be emailed in the pdf format. 

Is it safe to buy car insurance online?

Buying insurance online is akin to shopping from any online store. The product differences apart; the entire process is similar to what you are exposed to with any other domain. With top-notch SSL security certifications, data privacy and security is ascertained. 

How much time will it take to buy/renew a car insurance policy online?

The online car insurance policy buying process will be over before you know it. This is provided that you have all the documentation and information ready. In this case, it won’t take more than 5 minutes to complete the process. 

Once the inspection request is logged online, how long does it take to get the car policy?

From the time the inspection request is submitted, it takes 24 hours to process the car insurance claim. After the surveyor’s recommendation, you have 48 hours to visit the website and alter the insurance policy. Failure to adhere will set the process anew.

How do I get a copy of my car insurance policy online? Will the printout of the softcopy serve as the original document?

Your insurance policy is available on the Bajaj Allianz website, and it can be accessed and downloaded with your account details. A coloured or monochrome printout of the policy will be legible and accepted as the original copy.

How to find my car insurance policy number?

Well, the answer to this question lies in your policy documents. It is a unique 8-10 digit number provided by your car insurance company. It is generally present in the insurance documents, or on the statements issued by the company.

How to check car insurance status?

The paperwork of your car insurance policy contains the data of inception and expiry of the policy. To stay updated about its status, you need to check the date of creation periodically. It is also essential to renew it before expiry.

How can the insured obtain a duplicate car insurance policy? What are the charges?

If you have lost your car insurance policy document, inform us immediately by either contacting the customer service representative at 1800-209-0144 or sending a message via live chat portal on the Bajaj Allianz website.

What are the different modes of payment accepted online? Are there different schemes?

While buying a car insurance policy online, you will be offered with various payment methods like:

●     Internet Banking

●     Credit card payment

●     Debit card payment

●     Online Wallets with UPI Payments

Is it possible to switch to a different type of car insurance plan?

You can switch to a different plan but switching your insurance policy midway is not recommended. However, it is beneficial to switch after 2 to 3 years which can help cost saving by 5 to 15%, depending on the insurance provider. 

What is meant by Private Car?

Contrary to popular opinion, any car that is used for domestic, residential, and social causes, including business purposes is a private car. However, the vehicles that are fitted with a carriage for loading goods for the insured individual or the passengers is not a private car. 

What are the discounts that can be allowed under Private Car policies?

Discounts and offers including the Claims Free Experience, Opting Voluntary Excess, Membership with Approved Automobile Associations, and Installing approved Anti-Theft Devices are applicable under private car insurance policy. 

What is Roadside Assistance (RSA)?

In case your car breaks down or meets with an accident in the middle of the road without access to mechanical help nearby, the Roadside Assistance program services are available for the insured under Bajaj Allianz. 

When should I opt for the Road Side Assistance service?

Any event that leaves you stranded without adequate help or assistance, like in case of a mechanical breakdown or an accident. 

What is a cover note?

Until and unless you receive the original documents pertaining to the insurance, a cover note is issued to certify the vehicle’s insurance. The agent issues a cover if you wish to take the offline route for getting car insurance. 

What is depreciation in car insurance?

Over time, any object loses its value perpetrated by factors such as age, damages, wear and tear, among others. Similarly, the reduction in the monetary value of the car due to such factors is called depreciation.

What is 'compulsory deduction/deductible/compulsory excess' under car insurance?

While executing the claim process, every insurance company deduct some amount from the final claim value. The deductible amount varies with the type of vehicle under question. The deducted amount is called a compulsory deductible. 

What is a voluntary deductible?

This amount that you agree to pay in the wake of a claim executed by the policyholder. However, this amount is in addition to the compulsory deductible. Higher voluntary deductible means lower premium and vice versa. 

What is the meaning of the phrase ‘legal liability of the paid driver’?

In case your driver incurs an injury or loses his life while driving your car, you are liable to pay for the losses to him or his family. At Bajaj Allianz, we will cover the cost for you at an additional premium. 

Am I eligible for a discount if I am a member of the Automobile Association of India?

Provided that you state your membership status at the time of purchasing the insurance policy, you are eligible to claim a discount. 

What is the period for which the car insurance policy is issued?

For a new car, a minimum of 3 years Third Party insurance policy is compulsory in addition to a 1-year of 3-year Own Damage cover. For old cars, however, a 1-year policy cover is mandated. 

My motor insurance policy expired; how can I renew in case of a break-in of my policy?

Post-expiration, you can do a self-inspection of the car, upload the pictures for the surveyor to review and get an instant online 4 wheeler insurance policy after successful online payment. This arrangement is, however, possible for private insurance and not applicable for TP cover. 

Can I buy four wheeler insurance if I have a learner's license?

Car insurance for a holder of learner’s license is essential; a novice driver might be more vulnerable to untoward incidents. It is possible to buy insurance for a learner’s license holder, but the premium will be higher than the average.

In the case of my job and place change, what happens to my motor policy?

The car insurance policy is applicable for use across the country. However, in case of an address change, it is advised to inform the insurance company to reduce friction in the claims processing, if needed. 

What is an endorsement? What is premium and non-premium bearing endorsement?

Endorsement acts as evidence of the pre-agreed edits or alterations to the insurance cover. Out of the two types of endorsements, premium-bearing invites extra fees for changes in the cover. On the contrary, non-premium bearing endorsements do not include any charge for the same. 

What changes can I make in my car insurance policy? How do I send that for an endorsement?

You can submit an endorsement request online for a limited number of changes. These include; Address, Car, RTO, LPG or CNG Kit addition, anti-theft devices, policyholder name, car’s engine number, or even the chassis number. 

What is loading?

Loading is a type of cost added to the premium amount in the event of renewing the car insurance policy. However, the applicability of this additional amount is subject to the assessment of the policyholder’s risk continuum. In case, the risk is higher than normal, loading is added. 

What is NCB, and in what way does it benefit me?

Expanded as No Claim Bonus, this form of arrangement is awarded to the policy owners if they have never lodged a claim on the policy. Consecutive NCBs can lead to discounting the premium amount by up to 50%. 

I have to sell my car. Can I transfer my existing car insurance policy to the buyer?

The transfer of the existing insurance policy on your car is possible by an endorsement. To complete the process, you need to submit a copy of the RC (old) and some other essential documents.            

Is my NCB transferable when I change my car or insurer?

You can transfer the No Claim Bonus to the new car insurer with a few easy to do formalities. In addition to this, some insurance providers also allow the transfer of NCB to a different insurance provider. 

Will my No Claim Bonus get migrated if I want to renew my car insurance with you?

Yes, of course. According to relations with Car Insurance Company, and an NCB earned through your insurer, we will gladly provide you with new and better NCB offers and discounts. We believe in providing the best service to our customers.

What are the documents required to renew my Car Insurance Policy Online?

With certain simple steps and easy processes, your Car Insurance online policy documentation is complete. We require no absolute paperwork but, in some instances where VIR is required, satisfactory documents are to be inspected and submitted on demand. 

Can a customer cancel his policy during the tenure of his policy?

The four wheeler insurance policy can be cancelled after the customer submits a cancellation request. However, it is obligatory to insure your vehicle with another provider before initiating the cancellation process. It is a seven days process, and if there is a premium overdue on the insurer’s side, it will be paid back. 

Can I get my money/unused car insurance premium refunded?

Premiums are refunded with certain conditions and calculations on the pro-rata basis. We recommend you to calculate all short rates before cancelling the Car Insurance Policy because once the Car Insurance Company cancels the Policy, only then the refund is possible.

What happens if my car insurance lapses?

According to The Motor Vehicles Act, 1988, owners of uninsured vehicles can be charged with imprisonment and/or penalties. With the lapsing of the car insurance policy, all the accrued benefits are also eliminated.

What can be done to renew my car Insurance during Coronavirus Lockdown?

The process of renewing your car insurance online policy is pretty simple. Just visit the Bajaj Allianz website, click on renew, and enter all your necessary details to renew your policy. Some of those essential details are vehicle model, variant, RTO, no claim bonus, type of plan, etc.

Is my car insurance policy valid pan India?

Car Insurance is regulated by the Motor Vehicles Act, 1988 which is a nationwide legislation. Seeing to this, any car insurance policy that you purchase will be applicable in pan India provided that you renew it before the lapse date. 

What risks are covered under a car insurance policy?

A comprehensive car insurance policy covers damages caused due to a variety of risks. This includes cover against collisions, theft, fire, lightning, personal accidents, calamities like earthquakes & landslides, inundation, and even third-party liabilities.

How to obtain a third party only cover?

A third party only cover is another type of insurance policy that offers you the minimum level of insurance cover. To obtain the TPO, you can either get in touch with one of our agents or follow the iterative process online. 

Where can I check the details of the comprehensive car insurance policy’s cover?

All the relevant details related to the comprehensive car insurance policy cover can be found on the Bajaj Allianz website’s policy page. To get a more in-depth insight into the terms and conditions, download the policy-specific terms or wordings from the website.

Can I buy a standalone own-damage car insurance policy for my vehicle?

Yes, you can easily buy a standalone own-damage car insurance policy for protecting your vehicle. However, it is necessary for you to have a long term third party insurance policy with Bajaj or any other insurer.

The repair damage to my vehicle cost around Rs.20,000 but my cover is of Rs.15,000. Do I have to pay Rs.5,000 from my pocket?

As it is clearly stated that the vehicle’s repair damage is less than your insurance cover, all of the additional amount required to repair your damaged vehicle has to be paid by you as per your car insurance online policy conditions.

What is the meaning of exclusion?

There are some conditions in the vehicle insurance policy for which the insured person does not get any claim in case of a mishap. Those conditions are termed as inclusions. If your reason for claiming is in the exclusions section, you will not get the compensation.

What do you mean by add-on cover?

If you want to customise your vehicle insurance policy for some extra benefits and protection, opt for the add-on covers. Add-on Covers by Bajaj Allianz includes 24*7 spot assistance, Engine Protector, and Lock and Key Replacement Cover.

Why do I need motor add-ons?

Even though our policy provides a blanket cover for the major incidents that a drier can face, apart from this, there are a few instances exclusive to a specific area or region, type of car, and so on. 

Can I buy add-on covers without buying four wheeler insurance from Bajaj Allianz?

Add-on covers are always attached to the pre-existing insurance on your car. Thus, you cannot purchase add-ons without first buying a policy cover from Bajaj Allianz.

Is there any limit to the number of add-ons I can opt for with my car insurance policy?

Add-on covers provide an extra layer of security and safeguards you from additional expenditure due to unprecedented situations. Seeing to their importance, there are no restrictions to buy add-ons over your car insurance policy. 

Is the person driving a car insured under the car insurance policy?

To insure the person driving the car, you need to buy car insurance policy with the Premium Personal Guard policy in addition to the comprehensive policy for your car. This provides a 360° coverage of costs for the losses to the car and the driver.  

Are passengers covered by car insurance?

The personal accident policy or premium personal guard provides you with the option to inculcate the policy coverage for the passengers. In addition to the driver, this policy can insure 1 to 3 passengers. 

Is the engine covered by car insurance?

The Engine Protector Add-On gives you policy coverage for the damages done to the engine. With a small addition to the car insurance online premium, you can get the extra coverage safeguarding from the engine repair expenditure.

Does car insurance cover electrical fires?

In case, the electrical fire is sourced from an accident; then it will be covered under the comprehensive insurance policy. 

What is bumper to bumper car insurance?

A bumper to bumper insurance policy ignores the car’s depreciation and provides the absolute compensation of the car at the market value in case of damage or total loss. However, this policy coverage invites a higher premium.

What are electrical and non-electrical accessories? How do you calculate their value?

Electronic accessories are all the appliances in the car which run with electricity. Non-electrical accessories consist of car seat covers, wheel covers, mats and others. Both types of accessories can get protection in exchange for some extra premium over and above the standard premium. 

If I have an LPG or CNG kit fitted in the car, but it’s not endorsed in the RC book, will it be covered in the policy?

Only the company or manufacturer-fitted LPG or CNG kits are included in the Registration Certificate. Bajaj Allianz cannot provide four wheeler insurance coverage for the kit that is not mentioned or addressed to in the RC.

If I purchase new accessories for my car, can I get them insured in the middle of the insurance policy term?

Any sort of additional accessory can get insurance policy coverage subject to a formal request addressed to the four wheeler insurance provider. However, the additional coverage will also lead to a higher premium. 

What is the RTI add-on in car insurance?

A regular four wheeler insurance policy provides you with an insured declared value of the car in case of a total loss. RTI (return to invoice) is an add-on that provides you with the full (on the road) value of the car in case of theft or loss.

Can I buy two policies for a single car?

Yes, having two insurance policies for a single car is possible and legal. However, one car insurance online provider will not insure one vehicle twice, so, you need to buy the following policy from a different provider. Having two insurance policies is not recommended.

Why should one have a comprehensive car insurance policy, when the law mandates insurance only for 3rd party injury, death, property loss?

Third-party insurance benefits the other affected party, but a comprehensive insurance policy will help the primary policyholder (you) recover your losses in case of an accident. A comprehensive car insurance policy ensures financial cover in case of fire, theft, accidents, earthquake, etc.

Can I pay the car insurance premium in instalments?

No, it is not possible to pay the insurance premium in instalments. If you are purchasing a car insurance policy, it is mandatory to deposit the entire premium amount in one go. No insurance provider will accept the premium in instalments.

Does the car model affect the cost of Car insurance?

Yes, the model of your car affects the final acceptable value of your car insurance. This is because the brand and model of your car decides its price and the insured sum in your policy is dependent on the cost of the car.

Does the place of residence affect the premium amount?

Yes, the geographical location has an impact on the four wheeler insurance premium. If you live in a densely populated area of the country, the chances of accidents will be more. Hence, the amount of your insurance premium will be proportional to such specific conditions.

Which factors affect/reduce the premium or insurance quote of my car?

When you buy car insurance policy, the final quote can vary because of various factors. Some of the prominent ones are:

●     Car’s Model and Make

●     Car’s Age

●     IDV (Insured Declared Value)

●     Add-on covers

●     Type of four wheeler insurance cover

●     No-claim bonus

●     Geographical location

●     Cubic Capacity

How to calculate car insurance premium?

The procedure to calculate the car insurance premium is pretty simple. Visit the Bajaj Allianz’s website and submit a few details like a car manufacturer, model, age of the car, location, the type of insurance cover along with other details. The website will calculate the premium amount for you.

Will the premium reduce if I select a lower Insured Declared Value?

Yes, the premium of your car insurance will be less if you choose a lower IDV. However, it is not recommended. Low IDV will lead to less premium for your car, but in case of theft or total loss, you will not get the correct market value for your car.

How to pay car insurance online?

Online payment of four wheeler insurance premium is the most convenient way. In addition to this, there are various modes through which you can pay your car insurance premium online like:

●     Internet banking

●     Debit card

●     Credit card

●     UPI      

Will car insurance premium reduce if I do not raise a claim during the previous policy period?

With the NCB feature, the Car Insurance premium may reduce up to a specific percentage year after year, if no claim is raised. It is certainly proven to be a beneficial factor in the long term Insurance policy with the same company.

How much is my car insurance premium expected to increase with add-ons?

The increase in premium is subject to the needs, and it majorly falls within the affordable range. We provide four wheeler insurance policy services stating all add on benefits and factors, specifically suiting your vehicle type, model, age, etc.  You can select and apply accordingly.

Is it possible to get a discount on the premium if I stay with a single insurer for several years?

Staying with a single insurer for several years does not entitle you for a discounted premium Car Insurance policy. It is not incorporated in the policy of the firm, but we offer other benefits which return the favour beneficially.

What is an ARAI approved car theft device?

With your own installed anti-theft device, you provide an extra security blanket for your vehicle. If ARAI approves it, your policy integrity improves, and you enjoy a relatively low car insurance premium and other additional offers and discounts. 

Am I eligible for a car insurance discount if I install an anti-theft alarm and locking system?

Special discounts are specified for ARAI approved anti-theft alarm and locking systems. With the installation of the system, the Car Insurance policy premium is discounted further based on the guidelines of the insurance company. So yes you are eligible for the discount.

I have an electric car. Will I get a discount on its premium?

The Insurance Regulatory and Development Authority of India has sanctioned 15% of discounted premium rates if you buy car insurance for electric cars in comparison to general private cars. It is under the New Third Party cover premium rates.

Are there any special discounts available for handicapped people?

Very few 4 wheeler insurance providers offer special discounts for critical illness insurance to differently able insured. Various schemes are introduced by the government, which covers basic medical treatments. 

What should be my first action to initiate a claim?

Let us know when you want to raise a claim on 4 wheeler insurance, and we will guide you on each step. Contact on toll-free customer care number, or your insurance agent directly on the number available with you. All the required steps will be detailed and guided.

Steps to initiate an insurance claim:

1. Inform your car insurance company or agent to inform us about your current situation.

 2. Source of information could be email, call, text or an online application.

 3.  Filing an application and providing us with all the required information.

How do I register my claim?

Claims should be registered on the same day as the damage occurs to the insured vehicle. An immediate update with the 4 wheeler Insurance Company will be highly appreciated. Complete the claim application through an online process and let us help you further on.

Can I shift the vehicle from the spot of the incident/accident?

If you plan to claim the car insurance, do not move your vehicle from the accidental spot until after you have informed the insurance company. Take the pictures as a valid proof for the claim. If you move the vehicle, it may complicate the procedure.

What if someone else is driving my vehicle and an accident takes place?

Regular rules of the policy apply even when someone else was driving your vehicle. Act quickly and inform your agent after reporting the accident to the police, so that the car insurance online claim can be processed. Documenting the accident helps in the procedure.

What is the process to file car insurance claims in case of theft?

1.  FIR filing with the police department nearest to the place of theft occurred.

2.  Informing the online 4 wheeler Insurance company and submitting the claim form along with the documents required.

3.  The agents allotted in your case will take the procedure forward and assist in claiming the insurance.

What documents are required to file a claim?

Documents such as claim form, Policy number, Details of 4 wheeler Insurance, Policy cover/ note copy of insurance, the original Driving license of the person driving at the time, FIR in case of an accident, RTO intimation theft application, repair bills and payment receipts for repairs and any other documents demanded for the process.

When should I report to the police?

Right after the accident. Filing the first information report with the police is the first step towards the process. It is mandatory either in case of accident or theft of the vehicle. In any situation, keep your car insurance online policy on you or in a vehicle and inform your online four wheeler insurance company.

Can I choose not to claim if the damage is minimal? What do I gain out of it?

For not claiming the minimal damage, the additional bonus or discount is accumulated with the NCB, next year. It provides you with minimal cost of the premium on your car insurance policy and lesser repair amounts too. It benefits you in the long term.

If I lodge my claim after the vehicle insurance policy expires for the event that occurred during the policy term, will the claim be valid?

The claim will be verified even after the policy expires because the incident which occurred is within the timeline of the car insurance policy. You are eligible for the claiming process, as the claim will be valid with the Insurance Company.

How much time does it take for a claim to be settled?

The timeline for a claim to settle is dependent on the extent and type of the online car insurance policy. For a simple damage claim, the process is rather simple and can be settled on the same day. For more convoluted issues, the proceedings can be delayed based on the requirements of the documents. 

What is the meaning of cashless car insurance claims?

With the tie-ups with the selected garages, most Insurance companies provide cashless car insurance policies. In this type of policy, the insurance company directly pays the garage for the repairs. But the parts which are not covered under the policy are payable by you.

Where can I view the list of cashless garages in my city?

It is a straightforward process to locate our garages in your current city:

1. Go to our website

2. Go to the options menu > go to the Level 1 option > select Branch Locator

3. Branch Allianz locator > select Find a Network Garage > select Bajaj Allianz map

You can punch your pin code, and our garages will be presented on your screen.

Can I select a garage of my choice for repairs?

You can, and we will reimburse you for your expenses at the garages of your choices. However, if the customers need our assistance to explore the garages in our network, our team can also provide the pick service.

What is the meaning of reimbursement claims?

The Reimbursement claim underlines the process whereby a customer claims the insurance amount after paying himself for the repairs done on the vehicle. The claim amount is reimbursed based on invoices submitted by the customer with the car insurance company.

What to do in case of an Own Damage Claim?

First and foremost inform the police and document the situation, if you can. In case of an accident, do not move the vehicle and inform the agent or car insurance company to inspect. Documents requested should be submitted depending on the claim.

What is Constructive Total Loss in car insurance policy?

The term CTL is accorded to a situation when the monetary extent of the loss or damage to your vehicle is higher than 75% of Insured Declared Value or IDV of the vehicle stated in the four wheeler insurance policy.

How many times can we claim four wheeler insurance in a year?

It depends upon the car insurance company or on the exhaustion of IDV. Further, is the prerogative of the insurance company whether to allow multiple claims or not. More details about the claims are mentioned in the policy documents. 

How can I cancel my claim?

You can contact your car insurance company or your agent to cancel your claim. Your agent will be available to help you through the process. If not this, then you can also use our online services

Contact us on: bajajallianz.com.

Services Chat: +91 75072-45858

Customer care: 1800-209-0144

In what scenarios can I make a personal accident claim?

Personal accident claims can be raised only when you are the owner of the vehicle, driving the car yourself. Also, it applies when the car insurance policy of the vehicle is in your name. 

Thank You for Your Interest in Bajaj Allianz Insurance Policy, A Customer Support Excecutive will call you back shortly to assist you through the Process.

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I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

Written By: Bajaj Allianz - Updated: 29th September 2020

Disclaimer

I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

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