Bajaj Allianz Own Damage Car Insurance

As a reputed insurance provider in different sectors of general insurance, Bajaj Allianz has offered a wide range of insurance plans. Car insurance is an integral part of these services, and own damage car insurance is a value added addition. Car owners who don't have a comprehensive plan can purchase standalone own damage car insurance along with the third-party plan.

What is Own Damage Car Insurance?

Own damage car insurance, which is also popularly known as standalone own damage car insurance, is a financial support for car owners that helps in getting claims for the damage of the policyholder’s own car. According to the guidelines of IRDAI (Insurance Regulatory Authority of India), vehicle owners are allowed to buy standalone OD from or after 1st September, 2019 (1). It helps many car owners who have an existing third party insurance to purchase own damage car insurance policy for proper coverage of their car.

Key Features of Bajaj Allianz Car Insurance

There are several key features of the standalone car insurance policy. These features make the Bajaj Allianz OD plan an exceptional car insurance plan.

• Own Damage Coverage: This insurance plan provides exclusive coverage of your own car. It is an added benefit to get financial aid at the time of emergency.
  
• Spot Assistance: With Bajaj Allianz standalone own damage car insurance, the car owner gets 24*7 on-spot assistance. If the car is damaged in a stranded place, you can avail of this benefit.
  
• Add-ons: There are different add-ons available with the own damage car insurance policy. These add-ons tick the boxes of uncovered benefits and make it a complete car insurance policy.
  
• Claim Assistance: With a staggering CSR (claim settlement ratio), Bajaj Allianz offers 7200+ cashless garages(2) facility for a convenient cashless claim.
  
• Pocket Friendly: While you purchase the standalone OD along with a third party, it saves you money compared to directly buying a comprehensive plan. This is an exclusive feature of your own damaged car insurance plan.
  
• NCB: No claim bonus (NCB) is added to the car insurance if there is no claim in a particular year. The NCB goes up to 50%, and you get 20% for every claim-free year.
  
• Digital Process: Vehicle owners get instant claim settlement (within 20 minutes) if the claim is eligible. Additionally, the Motor On the Spot (OTS) feature and official website are there for digital purchasing, renewing, or claim processing.’

How To Buy Bajaj Allianz Standalone Own Damage Car Insurance?

Purchasing the own damage car insurance plan is now easier than ever before! Vehicle owners have to follow some simple steps in order to get standalone car insurance.

Online Process

The steps you need to follow to buy insurance from InsuranceDekho as follows:

• Go to the official website of InsuranceDekho (www.insuranceDekho.com), log in with your credentials, click car insurance, and choose Bajaj Allianz's own car damage plan.
• Enter your four-wheeler’s details (RC number, chassis number, registration year, model, type, etc.).
• Include an add-on from a list of add-ons as per your demand.
• Request for a call back from InsuranceDekho only if you have any doubts about the insurance details.
• Provide personal details such as Aadhar number, mobile number and email ID for KYC (know your customer) authentication.
• Review all the details and make your own damage insurance premium.
• At last, download the policy document, and the policy soft copy will be sent to your registered email ID. You can take printouts of the car insurance policy for your personal record purpose.

Offline Method

On the other hand, you can initiate buying the Bajaj Allianz standalone OD car insurance by calling 7551196989 or sending your message to support@insurancedekho.com. The customer care executive will visit and complete the process.

Buy From Bajaj Allianz's Website

On the other hand, car owners have the option of buying car insurance directly from their website or app. In a conventional way, you can visit their branch or contact their authorized agents to purchase it.

Add-ons Provided By Bajaj Allianz

Add ons are benefits that you purchase from your insurer to enhance your car insurance plan. By purchasing these add-ons at a minimal cost, vehicle owners save their out-of-pocket expenses, which they have to pay during the claim as there are many deductibles included in car insurance. Some of the top add-ons offered by Bajaj Allianz Car Insurance are:

• Zero Dep Cover: A car is a depreciating asset like many other assets. Every year its value depreciates, and the insurance policyholders have to pay an amount after the insurer approves the claim. Also known as bumper to bumper, this car insurance cover gives you financial support and prevents you from major financial expenses.
• Roadside Assistance Cover: If your car is damaged or breaks down in a lonely place or highway where no garage is available, with this add-on, you get a mechanic at any time, anywhere.
• Engine Cover: The engine is one of the most expensive car spares. Many insurance policies do not give a claim for the damaged engine. This add-on provides financial support during crunch times when your engine needs repair or replacement.
• Personal Baggage: Several times, the vehicle owner’s personal belongings were lost during the collision or attacks. By purchasing this add-on, you are relieved from financial losses incurred due to that. The inclusions within this add on are laptop, documents, clothes, etc.
• Consumables Cover: Consumables of a car consists of steering oil, gearbox oil, engine oil, nuts, bolts, etc. These consumables can be damaged during accidents and are not covered under car insurance. This add-on provides this coverage.
• Lock and Key Replacement: There are several instances where lock and key are lost or damaged. With this add-on, you will initiate a claim for this.
• Return to Invoice Cover: While the car is lost or can’t be repaired, then the car insurance policyholders have lost the entire car price. By purchasing this add-on, you are on the safer side and get a claim for the stolen car.
• Daily Conveyance Benefit: While the damaged car is being repaired, the vehicle owner's commute is taken care of with the help of this add on. Your taxi, cab, metro expenses are reimbursed if you have this add on.
• No Claim Bonus Protection Cover: If you apply for a claim for your car, and if you have no NCB or no claim bonus cover, you get protection from your bonus amount being cut.

Documents Required to Buy Bajaj Allianz Standalone Own Damage Car Insurance

You must keep the required documents near at the time of purchasing the standalone OD of Bajaj Allianz. These documents include:

• A valid car driving license
• Insurance filing form
• A RC (registration certificate copy)
• Address proof (Aadhar card, voter ID or electric bill)
• Government-issued ID proof such as a PAN card, Aadhar or voter ID
• An active mobile number and email ID

How Does a Standalone Own Damage Car Insurance Policy Work?

Standalone OD is completely different from other four-wheeler insurance policies. While third-party car insurance provides damages for the third-party liabilities and a comprehensive plan for the third-party and vehicle owner’s car, standalone own damage or SAOD car insurance only approves claims for the damage to the own car. This is a significant difference.

Bajaj Allianz Own Damage Car Insurance Claim Process

Bajaj Allianz has one of the most user-friendly and easy claim processes in the insurance industry. You have to know the claim process clearly. The digital process of raising the claim is:

• Inform the Insurer: At first, it is compulsory to inform the Bajaj Allianz by dialing at 1800-209-5858 or from the official website or with the app’s Motor On the Spot (OTS) feature. The insurer provides a claim reference number and claim ID subsequently.
• Notify the police: As the car is damaged due to an accident or any other reason, it’s a must to file an FIR (First Information Report) with the nearest police station.
• Collect the Evidence: It is necessary to click the picture of the damaged car and the offender’s car. Those evidences are required for further processing of the claim.
• Submit Documents: Every document, such as a claim form, vehicle details, etc., must be submitted to the insurer through the official website (www.bajajallianz.com) or through the app.
• Car Inspection: The concerned person of the insurer will inspect the damaged vehicle and note down the details.
• Vehicle Repair: Now, the vehicle owner can visit the network or non-network garages to repair the car.
• Review and Payment: The insurer verifies and reviews all the documents and approves the claim if it’s eligible. The claim amount will be credited to the car insurance policyholder’s account.

Documents Required for Claim

The essential documents required during the claim process are:

• Valid driving license
• Properly filled and signed claim form
• Car’s RC copy
• Car insurance’s copy
• FIR copy
• Evidence (photograph or video)
• Canceled Cheque
• Government-issued ID cards such as voter ID, Aadhar or PAN card

Claim Assistance

The swift claim assistance process is one of the reasons that car owners choose InsuranceDekho. For any kind of claim assistance, the standalone own damage insurance policyholders can write to us at support@insurancedekho.com or contact us at our toll-free number, 7551196989. We just assist you with any claim step or query; the claim approval entirely depends on Bajaj Allianz and your policy’s terms and conditions.

Now it’s time to look at the details of which coverages are included or excluded under the Bajaj Allianz standalone OD.

Inclusions

There are multiple coverages included with the Bajaj Allianz own damage car insurance, and those are:

• Accidental Cover: If the car is damaged due to any kind of collision, it will be covered under this standalone own damage cover.
• Manmade Calamities: While the four-wheeler is damaged because of strikes, riots, or stone pelting, you will get the cover.
• Natural Disasters: Various natural disasters like floods, earthquakes, cyclones, and typhoons can damage the car severely. There is a provision for providing the claim under this standalone OD.
• Theft: When your car is under a theft or burglary attack, you can register for a claim under these circumstances.
• Commutable Damage: If the car is damaged while it is in transit (railways, waterways or in flight), the coverage is included for this damage.

Exclusions

Not all the time you will get the coverages, and there are some exceptions, and those are:

• Third-party Liabilities: As it’s a standalone OD, only the insurance policyholder’s car damage is included, not the third-party liabilities (vehicles and their passengers).
• Alcohol or Drug: If the driver has taken alcohol and drugs, the insurance claim will be rejected. The police can impose penalties and charges as it violates the traffic law.
• Without a License: When the driving licence has expired or when the driver does not have a license at the time of driving the four-wheeler, the car insurance claim will not be approved.
• Expired Policy: The expired policy is the reason for not getting the claim for own damage car insurance.
• Terror Attacks: Any terror or drone attacks on the car are excluded from the standalone OD.
• Wear and Tear: Any car is minimally damaged due to regular wear and tear, and you will not be allowed to get a claim for those.
• Intentional Damage: If the car is damaged intentionally by the driver, you are not eligible for receiving the coverage.

Factors that Affect Your Own Damage Car Insurance Premium

Different factors contribute to the standalone OD premium of a car. Let’s look at some of those factors:

• Age of the Car: First of all, the car’s age or registration date is one of the deciding factors for the insurance premium. The older the car is, the lower the premium you have to pay.
• Registration Location: The car’s location determines the insurance premium. The rural location cars have a lower premium than the urban ones. The reason is the urban location has a better accident rate.
• Car Model and Type: The luxurious cars have more expensive parts than the basic model cars. That’s why the luxurious car has a high premium.
• NCB: No claim bonus (NCB) is the reason for not increasing the car premium significantly. It gives you up to 50% of your car insurance premium. If you have no NCB, your car insurance premium shoots up.
• IDV (Insured Declared Value): The price of the car is decreasing every year. ID is the current value of the car at present. The older car, that’s why, has a lower premium.
• Add-ons: It’s quite natural that including the add-on with standalone car insurance has more premium amount than without the add-ons.