Bajaj Allianz Bike Insurance

Third Party Bike Insurance

Comprehensive Bike Insurance

Own Damage Bike Insurance

Get Quotes Without Bike Number

Year of Inception

2001

No. of Branches

582+

Cashless Garages

6,500+

About Bajaj Allianz Bike Insurance

Bajaj Allianz General Insurance Company has been formed as a joint venture between Allianz SE and Bajaj Finserv Limited. The company was founded in the year 2001 for conducting general insurance business. 74% of the company’s stake is held by Bajaj Finserv while the remaining 26% is held by Allianz SE. Bajaj Allianz’s paid-up capital is INR 110 crores and the company enjoys an impeccable reputation in the general insurance industry.
Bajaj Allianz offers a range of general insurance products designed for retail as well as corporate customers. Two-wheeler insurance plans are also offered by the company under motor insurance coverage. The company also offers different types of two-wheeler insurance plans for suiting the varied needs of customers.

Bajaj Allianz Claim Settlement Ratio

98%

Bajaj Allianz

94.67%

Industry Average

Bike claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. Bajaj Allianz has a claim settlement ratio of 98%, as compared to the industry average of 94.67%.

Bajaj Allianz Bike Insurance Plans Overview

Bajaj Allianz bike insurance offers 2 types of bike insurance plans: Comprehensive and Third Party. The premium of these plans start from Rs. 714/yr. The coverage under Bajaj Allianz two wheeler bike insurance would depend on the type of policy you choose, check the details below:

Comprehensive

Starting Premium- ₹ 885/yr

Comprehensive coverage which has two coverage sections

Third party liability cover which covers
1. Third party death
2. Third party physical injury
3. Third party property damage
Own damage cover which covers
1. Damages to the bike due to natural causes (earthquakes, cyclones, floods, landslides, etc.)
2. Damages to the bike due to man-made causes (riots, malicious activities, fire, etc.)
3. Theft of the bike
4. Damages to the bike during transportation

Third Party

Starting Premium- ₹ 714/yr

Third party liability coverage which covers the following

Third party death
Third party physical injury
Third party property damage

Where ‘third party’ is defined to be any other individual apart from the bike owner and the insurance company

Bajaj Allianz Premium Calculator

Use our Bajaj Allianz bike insurance premium calculator to estimate Bajaj Allianz bike insurance premium for your bike within 30 seconds

Get Quotes Without Bike Number

Add-ons Available Under Bajaj Allianz Two Wheeler Insurance Plans

Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the bike insurance policy. Bajaj Allianz two wheeler insurance plans offer the following types of add-ons with the comprehensive policy:

Under this cover the company promises to provide you on the spot help in case your bike breaks down in the middle of the road. This assistance is provided every day and at any time. If your bike breaks down and you are unable to use it, you can call the helpline number of the insurance company at 1800 103 5858 24*7 and seek assistance.

When the bike is used, it undergoes normal wear and tear and depreciates over time. Since depreciation is not covered under bike insurance plans, in case of a claim, the company deducts the applicable depreciation from the claim amount and then pays the claim.You, however, would face the total cost of repairing the bike. The depreciation deducted by the company would, therefore, have to be paid from your pockets. If you choose this add-on, this can be prevented. The zero depreciation cover removes the effect of depreciation from claim calculation.The insurance company does not factor in the depreciation of the bike and pays the total costs incurred in repairs. This, therefore, increases your claim amount and reduces your out of pocket expenses.

Bike insurance policies have a mandatory personal accident cover for the owner/driver of the bike. However, the pillion rider is not covered. With this add-on the personal accident cover can be extended to cover the pillion rider too. The cover would pay a lump sum benefit if the pillion rider faces accidental death or disablement when travelling on the insured bike.

Features Of Bajaj Allianz Two Wheeler Insurance Plans

Features of Bajaj Allianz two wheeler insurance policies
Here are some features which make Bajaj two wheeler insurance beneficial for customers

The company has been bestowed with iAAA rating from the rating agency ICRA. This rating has been awarded for 11 successive years showing the claim settlement efficiency and trust in the company
At the 21st Asia Insurance Industry Awards, Bajaj Allianz bagged the Technological Initiative Award for introducing the digital motor insurance service called ‘Drive Smart’. It also won the Digital Insurer Award at the function
As on the financial year ending on 31st March 2019, the company had strong financial stability with a profit before tax of INR 1078 crores and a profit after tax of INR 728 crores
The company’s gross written premium grew by 30.3% in the financial year 2018-19 to INR 7687 crores compared to the premium collected in 2017-18
The company has a high claim settlement ratio which stands at 98%Benefits of Bajaj Allianz two wheeler insurance plans

Buying a two wheeler insurance policy from Bajaj Allianz gives you the following benefits

You can file your two-wheeler claims right from your phone through the company’s Motor-On-The-Spot feature. The claim can be filed by uploading images of the damages suffered by your bike
The Caringly Yours Application offered by the company allows you to file your claims through your phones. Claims up to INR 10,000 get settled within 20 minutes when filed through the application of the company
You can buy the policy online in a matter of 3 minutes
The company is tied up with more than 4000 garages all over India to offer you easy cashless claim settlement services
You get 24*7 assistance from the company’s customer care helpline for all your insurance related queries and grievances

Exclusions Under Bajaj Allianz Two Wheeler Insurance Plans

Exclusions under Bajaj Allianz two wheeler insurance
The following instances of claims are not covered under both third party and comprehensive bike insurance cover

Claims when driving without a valid driving license
Claims when driving under the influence of intoxicating substances
Claims when driving outside India
Claims when using the bike to commit a criminal act
Claims due to wear and tear or depreciation of the bike
Claims due to consequential losses
Claims due to electrical or mechanical breakdown of the bike
Claims due to war and nuclear perils
Claims when the bike is used in violation of its usage limitations
Theft of the accessories of the bike

How To Raise A Claim Under Bajaj Allianz Two Wheeler Bike Insurance

Claims under your Bajaj Allianz two wheeler insurance policy occurs if you incur a third party liability, if your bike is damaged or if the bike is stolen.The claim process is as follows

You would first have to register your claim with Bajaj Allianz.To register, you can either choose the online medium or call 1800 209 5858 and register the claim
You would have to provide the details of your bike and policy at the time of registration.These details include the engine and chassis number of the bike, the registration number, policy number, place and time of the accident, etc.
The company’s executive would guide you with the claim process and ask the vehicle to be taken to the nearest networked garage for cashless claim
The insurer’s surveyor would, then visit the garage to estimate the damages suffered
Based on the report submitted by the surveyor, the insurance company would approve the claim
Once the claim is approved, the repairs would start
After the repairs are done, you can settle the claim and take possession of your bike
In case of theft or third party claims, you should file a police FIR
Theft claims would be settled by the company once the police issue a non-traceable report on the bike
Third party claims,on the other hand, would be paid after the motor accidents tribunal gives its ruling stating the claim amount .

Claims for your two wheeler insurance plans can also be made through Turtlemint. If you have bought your policy from Turtlemint’s website, you can inform the company in case of a claim to help you with claim settlements. Turtlemint has a dedicated team of claim experts who take all the necessary steps for getting your claims settled sparing you from the trouble. Just inform the company by phone (1800 266 0101) or by an email (claims@turtlemint.com) and the company would take up the claim process.

Documents Required For Claims

For your claims to be processed and settled, the following documents would have to be submitted

Claim form
Police FIR (if you claim for theft or third party liability)
Driving license
RC book
PUC certificate
Identity proof of the policyholder
Policy bond

Bajaj Allianz Customer Care

Customer Care Number

1800 2090 144

Email ID

bagichelp@bajajallianz.co.in

Bajaj Allianz Two Wheeler Bike Insurance Renewal Process

Renewal of Bajaj Allianz two wheeler insurance policy is also easy as you can renew instantly online

Just visit https://www.bajajallianz.com/general-insurance-renewal.html, choose Bajaj bike insurance renewal, provide your policy number and check the details of your existing policy. You can pay the renewal premium online and the renewal would be done
Even Turtlemint allows Bajaj insurance renewal. If you are an existing customer of Turtlemint, you can log into your account to view the policy. Then click on the ‘renew’ button to pay the renewal premium and renew the policy online within minutes.

How To Buy Bajaj Allianz Bike Insurance

You can buy Bajaj Allianz two wheeler insurance policy online from the company’s website. Just visit https://www.bajajallianz.com/motor-insurance/two-wheeler-insurance-online.html and choose the policy that you would like.Provide the details of your bike to view the premium rate.Pay the premium online and the policy would be issued instantly.

You can also buy a two wheeler insurance plan through Turtlemint. Turtlemint allows you to compare the best two wheeler insurance plans available in the market and then choose the most suitable policy for your requirements. Just visit https://www.turtlemint.com/two-wheeler-insurance, fill in the registration number of your bike, provide the details of the bike (make, model and variant, registration year, previous policy history, fuel type, etc.) and see the available plans. You can check the coverage benefits and premium rates of all the available plans and then make a choice. Then you need to pay the premium online to buy the policy instantly.

Documents required for buying Bajaj Allianz two wheeler insurance plans

RC book of the bike
Driving license
Identity proof, address proof and age proof of the owner of the bike
Invoice of the bike
PUC certificate
Proposal form for buying the policy

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FAQs

Every two wheeler insurance policy has a component of compulsory excess which is the amount of claim payable by the policyholder. In case of a claim, you would have to pay the compulsory excess from your pockets and the insurance company would pay the rest.

Voluntary deductible is that portion of the claim which you choose to pay yourself voluntarily. While compulsory excess is the mandatory amount which you need to bear, the voluntary deductible is optional. You might or might not choose it. If, however, you choose a voluntary deductible, you would have to pay both the compulsory excess and the voluntary deductible part of the claim before the insurance company pays the rest.

Here are some ways in which you can reduce the premium of your bike insurance policy

Do not make small claims in the policy. This would help in preserving the no claim bonus which would give you a premium discount when the plan is renewed
Always renew the policy on time so that you can retain the no claim bonus and claim a premium discount
Always compare the available bike insurance plans before buying. Comparing helps you choose the policy with the lowest premium rates
Install safety devices in your bike which would earn you a premium discount
You can buy long term policies too for availing premium discounts
Being a member of an automobile association would also get you premium discounts and lower the premium
Choose a voluntary deductible to get a premium discount

IDV is calculated by deducting the age based depreciation from the market value of the car. The rate of depreciation and the consequent IDV are determined as per the following table

Age of the bike	Depreciation rate	IDV
Up to 6 months	5%	95% of the market value
More than 6 months but less than 1 year	15%	85% of the market value
More than a year but less than 2 years	20%	80% of the market value
More than 2 years but less than 3 years	30%	70% of the market value
More than 3 years but less than 4 years	40%	60% of the market value
More than 4 years but less than 5 years	50%	50% of the market value

The rate of depreciation on the different parts of the bike are calculated using the following table

Types of parts of the bike	Depreciation applicable
Rubber, plastic or nylon parts	50%
Fibreglass parts	30%
Tyres and tubes	50%
Metal parts	As per the depreciation of the Insured Declared Value of the bike

The no claim bonus starts at 20% and then increases every year in which you do not make a claim.

The rates are as follows

Claim history	No claim bonus allowed
No claims in the first policy year	20%
No claims in the two successive policy years	25%
No claims in three successive policy years	35%
No claims in four successive policy years	45%
No claims in five or more successive policy years	50%