Bajaj Allianz Bike Insurance

Bajaj Allianz General Insurance is a well-recognized private insurance provider which offers two-wheeler insurance at a competitive price point. Bike insurance, often known as two-wheeler insurance, is a safety plan that protects two-wheeler owners from the expense of repairs for their own damage as well as any third-party liabilities that may emerge in case of a mishap. While purchasing an insurance policy for your two-wheeler you must know that there are three types of two-wheeler insurance policies available in India. Bajaj Allianz offers three major types of two-wheeler insurance policies namely Third Party, Comprehensive, and Standalone Own-Damage two-wheeler insurance policies.

Key Features of Bajaj Allianz Bike Insurance

Benefits of Buying Bike Insurance

There are multiple reasons why you should buy bike insurance such as those listed below:

• Protection Against Natural Calamity: A bike insurance plan provides protection against natural calamities. This means if your bike is damaged due to an earthquake, flood, or any other natural calamity, then Bajaj Allianz bike insurance provides appropriate coverage.
• Third-party Coverage: A third-party bike insurance provides financial coverage in case a third party gets injured due to the insured bike.
• Mandatory by Law: Having valid third-party bike insurance is mandatory as per Motor Vehicle Law. Third-party bike insurance is at least a must-have according to the Motor Vehicle Act of 1988.
• Coverage from Man-made Disasters: If your bike is lost or damaged due to riots, a bike insurance plan will provide relevant coverage.

Types of Bajaj Allianz Bike Insurance

The three types of bike insurance policy that you can buy with Bajaj Allianz are listed below:

• Third-party Bike Insurance: Bajaj Allianz Third-Party Two-Wheeler Insurance policy provides coverage and compensation for third-party liabilities that arise due to a mishap. This type of two-wheeler insurance policy is mandatory for two-wheeler owners as per the Motor Vehicles Act, 1988. In terms of legality, the rider is extremely beneficial to the two-wheeler owner because the third-party two-wheeler insurance policy protects both the two-wheeler owner and the other parties involved in the mishap.
• Standalone Own-damage Bike Insurance: Standalone own-damage insurance provides financial compensation if a two-wheeler is damaged. This type of cover compensates for road accidents, theft, vandalism, fires, and natural and manmade calamities.
• Comprehensive Bike Insurance: A comprehensive insurance policy, on the other hand, is the best option if you are seeking all insurance. It combines both own-damage and third-party liability insurance into one policy, making it both convenient and cost-effective.

List of Documents Required to Buy Bajaj Allianz Bike Insurance

Some of the documents required to buy the Bajaj Allianz bike insurance plan are as follows:

• Identity proof: Voter id, Driving license, passport
• Bike registration certificate
• Old policy number
• Address proof: Aadhaar card, Voter’s ID, Passport

Why Should You Buy Bike Insurance with Bajaj Allianz?

On buying bike insurance with Bajaj Allianz, you can enjoy multiple benefits such as those listed below:

• The process of buying bike insurance with Bajaj Allianz can be easily done online. You need not go through the tedious buying process and simply complete all the required steps from the comfort of your home.
• With Bajaj Allianz, you can also enjoy a claim settlement of Rs. 20,000 within 20 minutes of raising your claim.
• Policyholders are eligible for getting discounts when they choose to buy long-term bike insurance plans with Bajaj Allianz.
• You can get your Bajaj Allianz policy renewed without any inspection process involved.
• Bajaj Allianz also offers cashless claim settlement. At any of the associated network garage, you can raise a cashless claim with Bajaj Allianz.

Add-ons Available with Bajaj Allianz Bike Insurance

Some of the add-ons that you can buy along with your Bajaj Allianz bike insurance plans are as follows:

• Zero-depreciation add-on
• NCB protector add-on
• Roadside Assistance add-on
• Engine protection cover
• Consumable expenses cover
• Personal accident cover for pillion rider

Inclusions and Exclusions of Bajaj Allianz Bike Insurance

There are certain inclusions and exclusions that you need to check while buying a Bajaj Allianz bike insurance such as the following:

Inclusions:

• Any loss or damage due to a natural calamity
• Any loss or damage due to man–made calamity
• Personal accident cover
• Third-party liability cover

Exclusions:

• Normal wear and tear of the bike
• Any kind of mechanical failure
• If there is any damage to the bike due to involvement in adventurous activities
• Any damage that takes place when the driver is riding without a valid driving license or is found under the influence of alcohol or drugs

Things to Keep in Mind While Buying Bike Insurance

Some of the important things that you must keep in mind while buying a bike insurance plan are as follows:

• Type of Bike Insurance Plan: You should always check the coverage offered under different bike insurance plans before buying. Depending on the type of plan you choose to buy, the coverage will accordingly vary.
• Discounts Available: You should always check the discounts available while buying bike insurance. This will help you in buying bike insurance plans at affordable premiums.
• Optional Coverage: Another thing to keep in mind is the optional coverage or add-ons available. Depending on your requirements, you can include all the necessary add-ons to your bike insurance plan.
• Online Purchase: In today’s digital time, everyone now prefers buying bike insurance online. So, you should choose an insurer that offers you the option to buy as well as renew bike insurance online.

Important Terms to Know in Bike Insurance

Listed below are the important terms that you must keep in mind when purchasing bike insurance with Bajaj Allianz:

• NCB: NCB or No Claim Bonus is a reward that is given to the policyholder if you raise no bike insurance claim in a given year. The No Claim Bonus benefit ranges from 20-50%, which is given at the end of the policy term.
• IDV: Insured Declared Value or IDV is the maximum amount that you will receive while raising a bike insurance claim. The IDV directly affects the bike insurance premium, so the higher the IDV, the higher will be the bike insurance premium.
• Zero Depreciation: This is a type of add-on cover that is added to your bike insurance policy. With this add-on, policyholders are given the relevant coverage for their two-wheeler without considering the depreciation factor.
• Deductibles: Deductibles refer to the amount that is paid by the policyholder towards the protection of the two-wheeler. There are two types of deductibles, compulsory and voluntary deductibles.

Things That Affect Bike Insurance Premium

There are a number of things that affects the bike insurance premium such as those listed below:

• Add-ons: The more add-ons you include to your bike insurance plan, the higher will be the bike insurance premium.
• NCB: If you have NCB added to your bike insurance plan, the bike insurance premium will be lower.
• IDV: The Insured Declare Value or IDV directly affects the bike insurance premium.
• Age: The more the age of the bike, the higher will be bike insurance premium.
• Make and Model: Depending on the make and model of the bike, the bike insurance premium will vary. For instance, the premium of a sports bike will be higher as compared to other bikes.
• Location: There are some areas that are at a higher risk of man-made and natural disasters. So, if you are buying bike insurance in such locations, the bike insurance premium will be higher.
• Anti-theft Devices: With the installation of anti-theft devices, the risk of a bike getting stolen decreases and so does the bike insurance premium.

How to Calculate Bajaj Allianz Bike Insurance Premium Online?

Listed below are the steps in which you can easily calculate Bajaj Allianz bike insurance premium:

• Go to the two-wheeler premium calculator page on the Bajaj Allianz website
• Enter the bike model and age
• Also, enter bike registration number and location details along with NCB details
• Based on the details entered by you, you will get the exact bike insurance premium you need to pay

Tips to Reduce Bike Insurance Premium

Some of the easy ways in which you can save on bike insurance premium are as follows:

• Firstly, select the right IDV or Insured Declared Value for your bike. This is because, based on the IDV you enter, the bike insurance premium will vary.
• You can also save on bike insurance premiums by installing anti-theft devices.
• To further reduce bike insurance premiums, NCB is very important. Now, to avail of NCB, you should avoid making claims for minor damages.
• You can also opt for higher deductibles for a lower bike insurance premium.

Benefits of Buying/Renewing Bike Insurance Online

There are numerous benefits of buying and renewing bike insurance online such as those listed below:

• When you buy bike insurance online, it becomes easier for you to compare the different plans available.
• On buying and renewing bike insurance online, you will also be able to save a great deal of time as well as effort. You need not visit the Bajaj Allianz office and instead complete all the required steps from the comfort of your home.
• There is very little paperwork involved when you buy or renew bike insurance with Bajaj Allianz online. You can easily submit all the documents online and be done with the process.
• The process to renew and buy bike insurance online is a transparent process. There are no additional steps involved when you perform all the relevant steps online.

Steps to Renew Bajaj Allianz Bike Insurance

Here is how you can easily renew Bajaj Allianz Bike Insurance plans:

• Go to the two-wheeler page on the Bajaj Allianz website
• Next, fill in all the required details such as bike insurance number, vehicle registration number, and others
• You can now modify or alter the bike insurance plan you wish to buy. Based on it, a new premium break-up will be visible to you
• Finally, make the premium payment, after which you will receive the policy details on your registered email address

Bajaj Allianz Bike Insurance Claim Process

Here is how you can raise bike insurance claims with Bajaj Allianz:

• First, register your bike insurance claim either by calling on the toll-free number or sending an email to Bajaj Allianz team. You can also directly raise a claim on the Bajaj Allianz website.
• Next, submit the documents and enter details like name, number, vehicle inspection address, accident date and time, bike registration number, bike insurance number, and others.
• Also, click pictures of the damaged parts of the bike for reference.
• Once you are done with these steps, you will receive a claim registration number which you can use for tracking purposes.
• In case of cashless claims, your bills will be directly settled at a network garage and in reimbursement claims, you will receive a reimbursement of the total amount spent towards repair.