Bharti AXA has been one of the leading insurance brands in the country for quite some time. The brand came into existence in 2008, when Bharti Enterprises and AXA group joined hands. Bharti Enterprises is a leading Indian business group and the AXA Group is a leading international finance protection company. The insurer has more than 104 branches across the country along with a myriad of smart and effective insurance solutions.
Bharti AXA received the Asia Insurance Industry award, given by the Institute of Economic Studies. In a relatively short period of a little more than 10 years, Bharti AXA has managed to expand its portfolio in both life insurance products and general insurance products. The insurance company has issued more than 9.8 million policies and settled more than 1.3 million claims. Bharti AXA has healthy claim settlement ratios of 81.74% for motor insurance and 98.5% for health insurance policies.
Bharti AXA Car Insurance has found several homes in India due to the following reasons.
How often does it happen, that a person might not be at mistake yet ends up in an accident? Quite a lot. While your safe driving surely makes the roads a bit safer, but there are several other unruly riders or drivers on the road. And it is their mistake or carelessness that causes several accidents or incidents on the roads. India is no stranger to road accidents, in fact, it witnesses one of the highest numbers of accidents in the world.
Does it mean that you should stop driving? Certainly no. You can secure yourself against such occurrences with the help of Bharti AXA Car Insurance. While it might not prevent accidents or incidents on the road, it will equip you to handle such situations more seamlessly. Bharti AXA Car Insurance offers comprehensive plans that provide all-round protection for their subscribers.
The following are some of the major features and benefits of Bharti AXA Car Insurance.
You can buy Bharti AXA Car Insurance either as a third-party liability policy or as a comprehensive policy. Here are the details.
The Motor Vehicles Act of India makes it compulsory for cars to have a third-party liability policy at the minimum. Third-Party Liability coverage provides coverage for accidents that lead to property damage or bodily injuries for other individuals. The policy covers damages incurred by pedestrians, drivers or passengers of the other vehicle and even properties.
The plan offers a very basic form of coverage and thus is relatively lighter on your pockets. And the Insurance Regulatory and Development Authority of India (IRDAI) decides the premiums for the third-party liability policy. A recent amendment to the Motor Vehicle Act now mandates three years of third-party liability policy for new cars.
The comprehensive insurance offers all-round protection for a policyholder, their car and third-party liabilities. It includes third party liability cover and offers coverage against natural calamities such as floods, landslides, storms, etc. It also covers man-made calamities such as strikes, riots, theft, etc.
Bharti AXA Car Insurance Comprehensive Plans also offers a personal accident cover for the owner or driver of the car. By paying a predefined premium annually, the policy provides a personal accident cover of INR 15 lakh for the insured.
Before you invest your money in a car insurance policy, it is important that you are aware of some of the policy wordings. While it might sound like a tedious job to go through the policy documents, you must go through a couple of sections at least, namely coverage and exclusions. All the scenarios where your car insurance offers you assistance is called as coverage or inclusions. Exclusions, on the other hand, are all the places where you will not have the backing of your car insurance policy. The following are the inclusions and exclusions of the Bharti AXA Car Insurance policy.
The list of exclusions for Bharti AXA Car Insurance plans includes:
Opting for Bharti AXA Car Insurance renewal gives you access to a host of features, including add-ons for the policy. Add-ons are additional features that you can plug into your existing policy to enhance its capabilities further. Though these come at a small premium, they can make your Bharti AXA Car Insurance policy much more potent. Here are the add-ons that you can opt from.
Zero or Nil depreciation is one of the more popular add-ons when it comes to buying a car insurance policy. During claims, the insurance company compensates for repairs or replacements not the actual price of the parts but after deducting depreciation. This might mean significant payments from your end. The zero depreciation cover ensures that the insurer pays the amount in full and that depreciation is out of the equation. It is ideal for a car that is not older than 5 years.
A few places are more prone to floods, heavy rainfall or even cyclones. If you happen to be in any such place, this cover can come in handy. The aftermath of such events can have a bad impact on your car. If water enters the engine, you would be looking at a hefty repair bill. The hydrostatic cover will ensure such damages are well taken care of. The only limitation being, the cover is applicable only till the car is 5 years old.
No Claims Bonus is a great way to save money on your Bharti AXA Car Insurance premium. For every year that you do not make any claims, the discount only increases. It starts at 20% for the first year and goes up to 50% for the fifth consecutive year. However, not making any claims for five straight years can be a stretch at times. You can rely on the no claim bonus cover for it. With this cover, you can retain your NCB discounts, yet makeup to two claims during the duration. Should you exceed the minimum quota of 2 claims, the NCB will become zero.
While you are on the drive, a lot of things can go against you. Things such as an empty fuel tank, a flat tyre, lost key, etc. are common examples. The roadside assistance cover is for such times. A quick call to Bharti AXA and you will get the necessary assistance. You can use the service to tow your car to the nearest garage, help with lost keys, help for minor breakdowns, changing of a flat tyre, etc.
During claims, the insurance companies do not consider the expenses of consumables. And these consumables can constitute a significant portion of the expenses. The consumable cover will ensure that you no longer have to pay for the consumables while making a claim. The add-on covers the expenses of engine oil, lubricants, bearings, screws, oil filters, brake oil, etc. This cover is not applicable to cars that are older than 5 years.
The comprehensive Bharti AXA Car Insurance offers a personal accident cover for the driver or owner of the car of up to INR 15 lakhs. However, it does not cover the co-passengers in the car. The co-passenger add-ons offer coverage of INR 1 lakh for the co-passengers of a car.
Any breakdown of the engine or gearbox can lead to hefty repair bills. Having the engine and gearbox add-on provides you with financial protection against such occurrences. If there is any water ingress to the engine or loss of oils or lubricants in the engine or gearbox, the add-on will take care of the financial side.
This add-on will provide cash benefits of INR 10,000 for you and your co-passengers for treatment related to an accident.
As your car gets old, depreciation comes into the picture. The following is the rate of depreciation applicable to your car.
Depreciation in %
Up to 6 months from buying the plan
Between 6 months and a year of buying the plan
Between 1 year and 2 years of buying the plan
Between 2 years and 3 years of buying the plan
Between 3 years and 4 years of buying the plan
Between 4 years and 5 years of buying the plan
Between 5 years and 10 years of buying the plan
Above 10 years of buying the plan
As a policy buyer, you have the option to buy the policy either online or offline. In the offline mode, you would have to interact with an insurance advisor or reach out to a local branch office. However, the online mode is more convenient. You can visit the website of Bharti AXA and look to a buy car insurance policy.
A better alternative is to visit Turtlemint. Turtlemint is a website, which allows potential buyers the opportunity to buy the best car insurance policy out there. It has tied up with Bharti AXA and offers its plans. You can compare Bharti AXA Car Insurance with car insurance policies from other providers and decide which policy you want to buy. Here are a few simple steps to follow on Turtlemint.
Bharti AXA Car Insurance renewal process is easier than you think. You must visit Bharti AXA’s website and look for car insurance renewal. Once you receive the quotes, you can proceed to buy the policy. You can also visit Turtlemint for a more fuller purchase experience. After entering some basic information about your car, you will be able to view all the plans that are applicable to your car. You have the liberty to compare policies and pick up a plan that suits your budget and needs. If you are registered on the website, the renewal process is even more seamless since your details are stored on the website.
The whole point of buying Bharti AXA Car Insurance is to be able to claim it at the time of need. Should you need to claim your policy, here are the steps that you need to follow.
You can also visit Turtlemint to file your claims. An experienced and dedicated team will help you with the claims. And this facility is available even for policyholders, who haven’t purchased their policy from Turtlemint.
To buy a new policy, you would need to furnish the following documents.
For your Bharti AXA Car Insurance renewal, there aren’t any specific documents that you need. During the renewal process, you must provide the previous policy details and vehicle details.
You can buy Bharti AXA Car Insurance from the Bharti AXA’s website, by visiting a local branch office or with the help of Turtlemint.
As per the recent amendments to the Motor Vehicles Act, a new car must be sold with a minimum of three-year third-party liability policy. For existing car owners, there isn’t any such mandate. However, you can choose to buy a long-term plan and stay away from the hassle of renewing your policy every year.
No, the add-ons mentioned above are not included with a comprehensive car insurance policy. It must select them during your car insurance renewal and pay an additional premium for the same.
No, you cannot pay the premium of your Bharti AXA Car Insurance in instalments. This is according to Section 64VB of the Insurance Act of 1938. You must pay the car insurance premium in full.
All you need to know about Bharti Axa Car Insurance Plans