Named Driver Cover

What is Named Driver Cover?

The Named Driver Cover is an own damage coverage offered when the vehicle is driven by the owner-driver, any declared named driver, or a chauffeur. This industry-first cover promotes and values safe driving.

Named Driver Cover is a type of car insurance policy that specifically covers individuals who are named on the policy. This means that only the drivers listed by name in the insurance policy are covered to drive the insured vehicle. If someone who is not named on the policy drives the car, they will not be covered by the insurance in the event of an accident or other incident. Named Driver Cover is an add-on with Bajaj Allianz Motor Insurance that can be beneficial for households where multiple people drive the same car, as it allows the policyholder to add specific individuals, i.e., additional drivers, to the policy, ensuring they are covered. It can also be a way to potentially reduce insurance premiums, as the insurer can assess the risk based on the driving records of the named drivers rather than offering blanket coverage for any driver.

Benefits of Named Driver Cover

By listing the names of additional drivers on the insurance policy, Bajaj Allianz ensures that these individuals are covered under the same terms and conditions as the primary driver. This not only enhances the flexibility of the insurance policy but also offers peace of mind knowing that all drivers are adequately insured.

Here’s why you should definitely opt for the Named Driver Cover add-on:

● Additional Protection: Named driver cover provides extra protection by allowing other specified individuals to drive your car under your insurance policy. This ensures that if they are involved in an accident while driving your vehicle, they are covered, reducing the financial burden.

● Flexibility: This type of coverage offers flexibility, especially for families or households with multiple drivers. It allows different members to use the same car without needing separate insurance policies, making it convenient and cost-effective.

● Peace of Mind: Knowing that other drivers are covered under your policy provides peace of mind. Whether it's a family member, friend, or colleague, you can be assured that they are protected in case of an accident, reducing stress and worry.

● Cost-Effective: Adding a named driver to your policy can be more economical than having them take out a separate insurance policy. This can lead to significant savings, especially if the named driver is a young or inexperienced driver who might otherwise face high premiums.

● Shared Responsibility: Named driver cover allows for shared responsibility of the vehicle. This is particularly useful for households where multiple people need to use the car regularly, ensuring that everyone is insured and responsible for the vehicle.

● Convenience: It simplifies the process of lending your car to others. You don't have to worry about whether they have their own insurance or if their policy covers driving other cars, as they are already included in your coverage.

● Enhanced Coverage Options: Some insurance providers offer enhanced coverage options for named drivers, such as breakdown assistance or legal protection, providing even more comprehensive protection for all drivers listed on the policy.

Named Driver Cover is an essential feature for those who frequently lend their car to family members or friends, making it a valuable addition to any comprehensive car insurance plan.

How to Add a Named Driver to Your Bajaj Allianz Motor Insurance Policy?

Adding a named driver to your Bajaj Allianz motor insurance policy is a straightforward process. Follow these steps to ensure a smooth addition:

1. Contact Bajaj Allianz: Reach out to Bajaj Allianz customer service via phone, email, or visit the nearest branch. You can find contact details on the official Bajaj Allianz website.

2.Provide Policy Details: Have your current policy number and personal identification ready. This helps the representative quickly locate your policy.

3.Submit Driver Information: Provide the details of the named driver you wish to add. This includes their full name, date of birth, driving license number, and driving history.

4.Documentation: Prepare necessary documents such as the named driver’s driving license, proof of identity, and any other documents requested by Bajaj Allianz.

5.Review Policy Terms: Discuss any changes in premium or policy terms with the representative. Adding a named driver may affect your premium rates.

6.Complete Forms: Fill out any required forms provided by Bajaj Allianz. Ensure all information is accurate and complete.

7.Confirmation: Once the process is complete, Bajaj Allianz will update your policy and provide confirmation. Keep a copy of the updated policy for your records.

By following these steps, you can efficiently add a named driver to your Bajaj Allianz motor insurance policy, ensuring comprehensive coverage for all drivers.

Eligibility Criteria for Named Driver Cover

When considering named driver cover under Bajaj Allianz car insurance, it is essential to understand the specific eligibility criteria that must be met. Below is a detailed list of these criteria:

Age Requirements:

- The named driver must be at least 18 years old.

- Some policies may have an upper age limit, typically around 75 years.

Driving Experience:

- The named driver should have a valid driving license.

- A minimum of 2 years of driving experience is often required.

- Clean driving record with no major traffic violations or accidents in the past 3-5 years.

Insurance History:

- The named driver should not have any history of insurance fraud.

- Previous claims history may be reviewed; excessive claims could affect eligibility.

Vehicle Type:

- The named driver must be driving a vehicle that is covered under the primary policyholder’s insurance.

- The vehicle should not be used for commercial purposes unless specified in the policy.

Health and Fitness:

- The named driver should not have any medical conditions that impair driving ability.

- Regular health check-ups may be required for older drivers.

Residency:

- The named driver must reside in the same country where the insurance policy is issued.

Policyholder’s Consent:

- The primary policyholder must approve the addition of the named driver to the policy.

Meeting these criteria ensures that the named driver is adequately covered under Bajaj Allianz car insurance, providing peace of mind and financial protection in case of an accident or other incidents.

Cost of Named Driver Cover

Adding a named driver to your car insurance policy can impact the overall premium. With Bajaj Allianz, the cost implications of including a named driver depend on several factors, such as the driver's age, driving history, and the type of vehicle insured. Typically, younger drivers or those with a history of claims may increase the premium due to higher perceived risk. Conversely, experienced drivers with clean records might result in a minimal increase. It's essential to compare the additional cost against the benefits of shared driving responsibilities and potential savings on individual policies. Always review the terms and conditions to understand how the named driver cover affects your overall insurance cost.

Why Choose Bajaj Allianz Named Driver Cover?

Named Driver Cover is a valuable addition to your Bajaj Allianz Motor Insurance policy, offering enhanced protection and flexibility. Consider adding this coverage to ensure that all drivers of your vehicle are adequately insured.

Bajaj Allianz, known for its comprehensive and customer-centric insurance solutions, makes it easy to include this add-on to your existing policy. By considering Named Driver Cover, you can enhance your car insurance and ensure broader protection for those who share driving responsibilities.

Basis of Arriving at Insured Declared Value (IDV) of the Insured Vehicle:

List of products specified in the list above are governed by the Indian Motor Tariff.

The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured’ and it will be fixed at the commencement of each policy period for each insured vehicle.

The IDV of the vehicle (and accessories if any fitted to the vehicle) is to be fixed on the basis of the manufacturer’s listed selling price of the brand and model of the insured vehicle at the commencement of the Policy. The IDV shall change according to the depreciation grid below for each block of one year within the policy period.

The Schedule of Depreciation For Fixing Idv of the Vehicle

The IDV arrived as per the above method may be further adjusted basis various factors such as location, make and model etc, with agreement of the Insured and as captured in the Policy Schedule.

The age-wise depreciation schedule shown above is applicable only for Total Loss/Constructive Total Loss (TL/CTL)/Cash Loss claims.

IDV of vehicles beyond 5 years of age and for obsolete models (i.e. models that manufacturers have discontinued) is to be determined on the basis of mutual agreement between the Insurer and the Insured.

IDV shall be treated as the Market Value throughout the Policy Period without any further depreciation for the purpose of Total Loss (TL)/Constructive Total Loss (CTL)/Cash loss claims.

Basis of Arriving at TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle:

The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and/or repair of the vehicle, exceeds 75% of the IDV of the vehicle, subject to terms and conditions of the policy.

The liability of the Company shall not exceed the Insured's Declared Value (IDV) of the vehicle in the event of total loss/ constructive total loss/cash loss for the year in which loss has occurred. IDV as on date of loss shall be computed as specified under basis of arriving at Insured Declared Value (IDV)

If a damaged motor vehicle is assessed as being unrepairable and hence a wreck i.e. a ‘total loss’ or ‘write-off’, You shall have the option to retain the wreck and accept a ‘cash loss’ settlement (being the IDV less the assessed value of Salvage based on competitive quotes procured by the Insurer including any submitted by or through the Policyholder).

Note: For the purpose of computation TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle aggregate cost of retrieval shall mean Company’s aggregate liability as per the terms and conditions of the policy.