Bajaj Allianz Car Insurance Company

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9 min read

About Bajaj Allianz General Insurance Company:

Bajaj Allianz General Insurance Company Limited was formed as a joint venture between the leading insurer in the world Allianz SE and Bajaj Finserv Limited. Registered in May 2001, the company started with the various insurance businesses and has now become a robust insurance provider in the Indian industry

Bajaj Allianz General Insurance is amongst the largest private insurance company in the insurance sector catering to the insurance needs of individuals as well as corporates. The company offers a wide range of insurance products and services that go beyond insurance. Its products include health insurance, car insurance, two-wheeler insurance, home insurance, travel insurance, commercial insurance, and cyber safe insurance.

Key Highlights of Bajaj Allianz General Insurance Company:

Bajaj Allianz General Insurance company is known for its excellent customer service and wide distribution channel. Let us have a look at some of the key highlights of the company:

Gross Return Premium 12,624 crores for Financial Year 20-21
Number of customers 11 crore customers
Number of employees 9,000 employees
Number of agents 80,000 agents
Number of dealers and Bank partners 9,000 motor dealer partners and around 240 bank partners

Awards and Achievements of Bajaj Allianz Car Insurance:

Bajaj Allianz General Insurance company has completed 20 years of service and insurance care on May 2nd 2021. The company has risen from a humble start-up to a leader in the industry in its journey of two decades. In its continuous endeavor to provide seamless and satisfactory service to customers, the company has been recognized various times for its contribution to the insurance industry. Some of the achievements of the company are listed as follows:

  • Honoured as ‘Best Insurance Provider in India, 2020’ by IDC Financial Insights Innovation Awards.
  • Bajaj Allianz General Insurance company received the ‘Best Motor Insurance Provider of the Year Award 2020’ by Money Today.
  • The company won four prestigious awards at ‘Quantic BFSI Excellence Award 2021.’
  • Bajaj Allianz General Insurance company has also received the ‘Digital Insurance Award’ twice in 2018 and 2017 at the Asia Insurance Industry Awards.

Key features of Bajaj Allianz Car Insurance plan:

Bajaj Allianz car insurance policy offers comprehensive coverage. The coverage of the policy depends on the type of policy that you choose to buy. Bajaj Allianz General Insurance company offers to arrange add-ons to customize your car insurance policy as per individual requirements. Coverage features of the Bajaj Allianz car insurance plan are as follows:

  • Third-party liability: Third-party liability means the liability arising to the third party in case of damage to any third party or person due to your car. Third-party liability is also mandatory coverage under the Motor Vehicles Act.
  • Own damage cover: Damages suffered by your car in an accident, or due to any natural and man-made calamities, such losses would also be covered in the Bajaj Allianz car insurance policy. Own damage cover is available only in a comprehensive car insurance plan and is not covered in third-party liability-only policies.
  • Theft: If your vehicle is lost or stolen, then the insurance company will indemnify your loss by paying you a lump sum amount to buy a new car.
  • In transit loss: Damages suffered in transporting your car from one place to another are also covered.
  • Personal accident cover: Personal accident covers offers a lump sum payment of up to 15 lacs in case of permanent total disablement or accidental death suffered by the owner or driver of the car in an accident.

Things Not Covered – Exclusions under Bajaj Allianz Car Insurance plans:

Bajaj Allianz Car insurance policies are quite comprehensive in their coverage. However, certain events are not covered in the Bajaj Allianz car insurance policy and are referred to as common exclusions. Common exclusions are the events in which no claim would be paid if the loss or damage is suffered due to the following reasons:

  • Driving without a valid driving licence
  • Consequential losses which are not a direct result of the incident
  • Driving under the influence of drugs or alcohol
  • Using the vehicle for criminal acts or hazardous activities
  • Electrical or mechanical breakdowns
  • Driving outside the geographical location of India
  • Losses or damages suffered when the policies in lapsed state

Car insurance plans offered by Bajaj Allianz:

Bajaj Allianz General Insurance Company offers different types of coverage options for your car. Two of its most popular policies, also available at PayBima, include the following –

  • Standalone own damage plan: This plan is available if you already have an existing third-party coverage on your car. The addition of this cover gives you a bundled policy. The features of the standalone own damage cover are as follows –
    • It is available for a term of 1-year
    • You can renew the policy continuously
    • You earn a no claim bonus if you don’t make claims in the previous years. This bonus helps you avail of a premium discount when you renew the plan
    • There are optional add-ons available that help in enhancing the scope of the policy
  • Comprehensive car insurance plan: A comprehensive car insurance policy provides the most inclusive coverage on your car. The features of the policy are as follows –
    • You get coverage for both third party liabilities as well as the damages that your car might suffer due to natural and man-made causes
    • Theft of the car is covered under the policy
    • More than seven add-ons are available so that you can customise your policy as per your needs
    • Bajaj Allianz allows digital claim settlement which gets your claims approved within 20 minutes
    • Through the Caringly Yours App, you can get on-the-spot claim settlement in your policy

Process to buy Bajaj Allianz Car Insurance plan:

You can buy Bajaj Allianz Car insurance policy through PayBima. It is a digital platform that provides a quick and easy process to buy a suitable car insurance plan. Follow the following steps to buy a Bajaj Allianz car insurance policy online through Paybima:

  • Go online: Visit the website of PayBima or simply click on www.paybima.com and choose ‘car insurance’.
  • Fill in the details: After you select car insurance, you will have to fill in certain details of your vehicle such as the make, model, and registration number of your car. Also provide your personal details like your name, contact number, type of policy, and location. PayBima provides personalized assistants to help you select a car insurance plan which suits your insurance requirements.
  • Compare available plans: After filing in the details, a list of available car insurance plans would be displayed on the screen with coverage benefits and premium costs. You may find Bajaj Allianz’s car insurance policy on the list. Before selecting a car plan, ensure to compare it with other leading car insurance policies available in the market. Just buying a policy with the lowest premium would not fulfill your insurance requirements. Buy a car insurance policy that offers comprehensive coverage at an affordable premium.
  • Fill out the proposal form: After finalizing your policy, simply fill in a proposal form with your personal details and your car’s details. The proposal form is an application to the insurance company to issue you the policy. Provide correct details in the proposal form and submit it online.
  • Payment of Premium: After all the paperwork is done, just pay the premium through any of the secure payment gateway offered by PayBima. Once the premium is received by the company, it will instantly issue the policy.

You can also buy a Bajaj Allianz car insurance policy online by visiting the nearest branch office of the insurance company.

The process to renew the Bajaj Allianz Car Insurance plan:

Car insurance have a fixed tenure and requires renewable to enjoy uninterrupted coverage. You will have to renew your insurance after a fixed tenure and if you fail to do so you might lose coverage benefits. Bajaj Allianz General Insurance offers a period of 30 days after the expiry of the tenure of a car insurance policy to renew it or else your policy, as well as accumulated no-claim bonus, will lapse and coverage will cease.

You can renew your car insurance policy online within minutes. PayBima offers simple steps to renew your policy through its website. You can do so by visiting the official website of PayBima and entering your car insurance policy number. You can review your existing coverage in the plan before paying the renewal premium. You can also add or remove add-ons at the time of renewing your plan. However, the premium of our plan would be adjusted accordingly on the addition or deletion of add-ons. Claim your no claim bonus and pay the premium as shown. Your policy would be renewed within minutes.

You can reach us by calling us at 1800267 6767 or through mail at paybima.care@mahindra.com for any help or assistance to renew your Bajaj Allianz car insurance policy.

The process to claim Bajaj Allianz Car Insurance plan:

Bajaj Allianz General Insurance Company offers a convenient, quick, and easy claim settlement process. You can make a claim on the Bajaj Allianz car insurance policy through the PayBima website. The steps are as follows:

  • Inform the insurance company: No sooner an incident occurs, the first thing you need to do is inform the insurance company about the claim. You can call Bajaj Allianz on its toll-free number or file an intimation online by visiting its official website and providing your policy number and car registration number.
  • Search for the nearest network garage: The company has tied up with many workshops across India to provide you with the cashless  settlement of your claim. If you want to avail cashless settlement, you will have to take your car to a networked workshop. You can locate the nearest network workshop on the official website of the insurance company.
  • Assessment of damage: Bajaj Allianz General Insurance will send a surveyor to assess the damage caused to your car. The surveyor will check the extent of damage and submit a report to Bajaj Allianz. The network workshop will begin repairing your car only after receiving a confirmation from the insurer.
  • Fill up the claim form: After verification of your claim, duly fill and sign a claim settlement form and submit it to the insurance company. The claim form can be downloaded from the website of Bajaj Allianz General Insurance or can also be collected from the company’s nearest branch.
  • Settlement of claim: Once all documentation has been completed and your claim has been approved, you can collect your car from the network garage and the insurer will directly pay the cost of repairs to the garage.
  • Reimbursement of claim: Bajaj Allianz General Insurance also offers a reimbursement claim facility in which you can repair your vehicle in a non-network garage and later get a reimbursement of the cost of repairs incurred. To get reimbursement of repair cost, submit a claim form along with all the original repair bills to the insurer. The company will access your bills and documents and then credit the cost of repairing incurred by you in your bank account.Certain documents are required to be submitted along with the claim form for the successful settlement of the claim. The documents include the following:
    • Car registration document
    • Valid driving license of the person driving the car
    • Duly filled and signed claim form
    • Original policy document
    • Original repair bills for reimbursement claims
    • Bank account details to credit the reimbursement amount
    • Inspection officer’s report and Police FIR in case of robbery or theft of the

Review of Bajaj Allianz Car insurance plans:

Bajaj Allianz General Insurance Company is continuously expanding its operations to suit the various needs of its customers and reach out to them. Some highlights of the car insurance plans offered by Bajaj Allianz are as follows:

  • The company is associated with major e-commerce platforms, brokers, and web aggregators so that its customers can buy car insurance policies both offline and online without any hassle.
  • The company has tie-up with 6,500 + network garages across India allowing you to select a network garage easily for cashless claims.
  • The company has been recognized for providing the best customer experience and best brand experience numerous times for its excellent products and customer service.
  • The company has embraced digitization to enhance the quality of its customer’s experience and provide an easy, quick, and hassle-free claim service and settlement.
  • The company has introduced for the first time in India, a user-based car plan by installing Telematics devices in the vehicle for the first time in India.

FAQs on Bajaj Allianz Car Insurance

What details would be needed to buy the car insurance policy online?

You would have to provide the following details when buying a car insurance plan online –

o Registration number of the car and the registration location
o Make, model, and variant
o Driving license number
o The type of policy that you need
o Details of the existing policy, if any
o Claim history, if any
o Add-ons required
Based on these details the premium would be calculated. You can, then, pay the premium online and the policy would be issued instantly.

How much no claim bonus can I earn?

You can earn a no-claim bonus starting from 20% and going up to 50% depending on the number of successive claim-free years that you have.

What add-on covers are available with Bajaj Allianz car insurance plans?

Bajaj Allianz offers the following types of add-on covers with its car insurance policies –

o Zero depreciation – it nullifies the effect of depreciation on the claim amount
o 24/7 spot assistance – it provides round-the-clock assistance in the case of car breakdowns
o Engine protector – it covers engine damages due to water seepage
o Key and lock replacement – it covers the cost of replacing the cost of lock and keys if there is any damage or loss
o Consumable expenses – it covers the cost of consumables used in repairing the car
o Personal baggage – it covers the financial loss suffered if your personal baggage is stolen from the car
o Conveyance benefit – when the car is being repaired, after a claim, the add-on covers the cost of alternate conveyance

You can choose one or more of these add-ons and customise your policy.

Can I renew the policy after it has expired?

Yes, you can renew the policy after it has expired. However, such a renewal might require an inspection of the car before the renewal is approved. There would also be no coverage on the car after the policy has expired and before it is renewed. Moreover, if you do not renew within 90 days of expiry, you would lose the accumulated no claim bonus.

What would happen if I do not buy a car insurance policy?

A car insurance policy is mandatory as per the Motor Vehicles Act, 1988. Just like you need a valid driving license to drive the car, you need a valid third-party cover too. So, you have to buy a car insurance policy on the car. However, if you don’t and you are caught by traffic authorities or engaged in an accident, you would face a legal offence, fines, or penalties and might also suffer imprisonment. So, to avoid possible legal complications, a car insurance plan is a must.

Jul 19, 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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