3. While rapid urbanisation has promoted growth, it has also made us vulnerable to man-made calamities. Applicable on 3-year plans for 3rd-Party and Own Damage covers. 1800-103-5858, Global Travel Helpline The right type of bike insurance cover for any vehicle and the owner depends on the condition of the vehicle. Then the depreciation is deducted when a claim is generated, and the insured person gets a lesser amount of the claim settlement and has to go through the pocket expenses as well. Considering that two wheeler third party insurance doesn’t have anything to do with your vehicle, it involves lesser and simpler documentation vis-à-vis the conventional motor insurance policy. The Long-Term Two Wheeler policy covers you against damages that your bike or scooter may incur due to any unforeseen … Every two-wheeler must have a third party insurance for bike. Here are the key changes as per the new policy; Comparison between the third party and comprehensive two wheeler insurance policy. Without this add-on coverage, the claim is not provided to the insured. You can sift through a number of policies, compare them and eventually choose one that complements your financial objectives. It not only keeps the motorcycle safe from any external damages but also secures it from any third party liabilities. Life insurance plans from Bajaj Allianz Life - get all types of life insurance plans - ULIP Plans, Term Insurance Plans, Pension Plans etc., at affordable premiums to get your Life Goals Done. Ergo, always compare two wheeler insurance policies beforehand, never rush in such decisions. Due to these factors, the premium can increase as well as decrease every year. If your bike breaks down in the middle of the road and you have no source to take it to the garage, contact us. The financial coverage accompanying a bike insurance policy is a safety net for the policyholder. Tips to lower two wheeler insurance premium are: Two wheeler insurance is a basic requirement when purchasing a bike or other two-wheelers. It can be modified and changed by insurance companies only. The benefit of purchasing a two wheeler insurance online is that it requires minimum documentation and simple process. No, there is no such option provided to the customer to get his/her money/unused premium refunded. various insurance As it’s mandatory for all vehicles running on Indian roads to have third-party cover, our Comprehensive Two Wheeler Insurance Policy covers you financially from the losses, injuries or death suffered by a third-party as well. In case of severe injuries incurred by the insured, the person or their known has to report within 24 hours of the accident. Several risks which are not covered under a two wheeler insurance policy such as damage of the vehicle under an extreme condition like war, damage due to depreciation, normal wear or tear, damage due to driving under the influence of alcohol or substances, damage done by a non-licensed driver, etc. If all the documents are submitted, and there is no delay in the court process, then the maximum time for the settlement is 10-15 days. You can also check the status via the Insurance Information Bureau (IIB). any complaint nor complain to TRAI as to any alleged unsolicited calls by BAGIC to me. PA cover is a Personal Accident cover. Our Bike Insurance Policy provides coverage against theft, burglary, riot, strike, terrorist activities, or accidents by external means. It also protects the policyholder against the theft, loss of the two wheeler, and cover on your vehicle against several calamities. OVERVIEW OVERVIEW. Only the third party cover is compensated. We will send you a reminder when your policy is due for renewal. What’s more, you can also add a personal accident cover for the pillion rider with our policy. No. The NCB or No Claim Bonus is awarded to the policyholder. of my contact number being registered on National Customer Preference Register (NCPR) under either The inspection process is carried out at the time of buying a new two wheeler insurance policy or at the time of renewal. NCB or No Claim Bonus can be carried forward provided the policy is renewed within 90 days of the expiry date of the previous policy. Proof of identity ( Ration card/ voter id, Driving licence/ passport), Proof of address ( voter’s ID card/passport/Aadhaar). Two wheeler insurance is essential for the safety of the rider and vehicle too. The bike insurance includes Rs. Choosing third-party insurance or comprehensive bike insurance is your decision entirely. As the name suggests, this policy is a package policy which is a combination of the third party liability only cover and also own damage cover. Comprehensive policy not only covers the third-party liability but also covers the damage to your vehicle. A comprehensive two wheeler insurance policy is the most suitable plan riders should purchase as it provides comprehensive protection against damages to your vehicle as well as damages to the vehicle or property of the third party. Several people choose to supplement the basic bike insurance package with the engine protection two wheeler insurance cover. Tax benefits are subject to changes in tax laws. There are certain aspects that any insurance company will check before handing out an insurance policy. The company will compensate the partner garages for the work done. The documents required are: Once these documents and the transfer charges are submitted, the insurance company will start the transfer process. registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even Expired policies don’t do you much good! Authority of India [TRAI] restrictions/guidelines on unsolicited telecalls, by my accessing this web Our personal accident cover of Rs 15 lakhs gives you, the owner-driver, the financial muscle to bear treatment costs following an accident involving your bike. While opting for 2 wheeler insurance, one has to choose between the comprehensive and third-party policy. A Bike two wheeler Insurance policy is a contract in which an insurance firm covers the financial aspects related to any loss or damage to a bike. ✓    Making sure you take photographs of the spot of the accident and the exact location and position of the vehicle as it is on the spot of the accident, ✓    In case you are providing a treatment to the any injured person/s, you will need to note the name of the hospital and the treating doctor which would be required to be informed to us. In case of damage to the motor vehicle, the add-on two wheeler insurance cover including consumable expenses will provide coverage for all types of motor vehicle oil, refrigerants, coolants, The Two Wheeler policy covers you against damages that your bike or scooter may incur due to any unforeseen events. There are mainly two types of two wheeler insurance in India. me if required. products/services and or my making a request to call me back, it is deemed that I have expressly authorized You can log in with your registered User-id and Password on the portal and check the status of bike insurance online. Bajaj Two Wheeler Insurance Bajaj Allianz General Insurance is a private insurance company in India. He/she will take the photographs of the damaged vehicle, check the driver's license, RC copy, Insurance copy, Affidavit in case no damage is caused to the third-party, FIR if any. This rule has been scrapped in the new policy. If purchasing a new bike and a new policy, the no claim bonus from your previous two wheeler insurance policy will be accumulated with the new one. Fill the details asked and your previous policy information. A comprehensive car and two wheeler insurance plan offers better coverages that you can hope for. Thanks. Factors considered when buying two wheeler insurance policy are: When you buy a new two wheeler, you want it to be safe and work for a long time without costing you too much in maintenance and repair costs. Convert Your Saving into Investments to Fulfil … Policy lapse: If your bike insurance is expired and hasn't been renewed yet, your policy can lapse, and the insurance company will not be entitled to anything. Getting your two-wheeler insurance to renew an expired bike immediately is for your safety and peace of mind. Buying coverage for a bike which has been used over the years and is depreciated is considered as Old Two Wheeler Insurance. Enter the policy details such as policy number, etc. This period can be as long as 30 days or as short as 24 hours depending upon the insurance company policy. No Claim Bonus: The benefits of no claim bonus are terminated if the 2 wheeler insurance is not renewed within 90 days of the date of expiration. But if once a claim occurs, the NCB is lost. The insurance firm itself fixes the premium rates under the comprehensive policy. Losses and Damages Suffered Due to Man-made Calamities. It is a joint venture between Allianz SE, a German financial services company and Bajaj Finserv Limited owned by the Bajaj Group of India. All these documents are very necessary to proceed with the claim. While choosing for the best two wheeler insurance policy for your bike, also keep an eye on IDV being given in the policy, not just the payable amount. The premium rates are fixed by the Insurance Regulatory and Development Authority of India. The surveyor enquires about the entire incident. At first, one has to fill the form either online or get the Claim Intimation form from the insurance company office. A non-premium bearing endorsement is a type of endorsement where you do not have to pay for the alterations or changes you want to make to your insurance policy document. You will be issued a duplicate copy of your policy. call you back shortly to assist you through the Process. Like the correction in contact details, name correction, rectification in the engine or chassis number, the addition of hypothecation, etc. ✓    In case of Property damage - An inspection officer’s report from the motor accident claims tribunal, original bills and surveyor’s report to make an estimation of the loss incurred to the third-party property will be needed to be submitted. Bajaj Allianz two wheeler insurance renewals ensure coverage against any legal liabilities in case there is a road accident involving your bike. There are several cases of damage claims of the bike. It also covers the cost and repairs of vehicle parts. 1800-103-2529, 24x7 Roadside Assistance Several elements are a part of the bike insurance policy. They are the same across nations and all firms. In this regard I shall not have Yes, to have a Personal Accident cover by a two wheeler driver and owner is mandatory. Over the time of usage of the vehicle, the wear and tear can depreciate its amount. Documents will be mailed to the registered email address. The company then pays the amount to the insured. Your two wheeler gives you a sense of freedom and our Bajaj Allianz long term insurance policy has been designed to keep you secure for 3 years. 2. It can be yearly, for 2 years or 3 years. The maximum amount accumulated in the no claim bonus is up to 50%. After calculating the premium, GST is the tax applied on it @18%, due to which the amount of premium to be paid by the customer increases. Although the insured has not made any claim in the policy period, they are awarded the NCB discount in the premiums when renewing the policy. One must read this under any policy before taking it. There several different types of payment options a customer can opt for purchasing bike insurance. Do not move the vehicle in the accidental case if it can enhance the damage to your two-wheelers. It can be done by following methods. Policy With This Guide, Written By: Bajaj Allianz - Updated: 24th December 2020. With the ageing of the vehicle and depreciation in the IDV lessens the premium paying amount of your bike insurance. As maximum policyholders are aware of the no claim bonus, where the bonus is given after two wheeler insurance. In case of damage to the motor vehicle, the add-on two wheeler insurance cover including consumable expenses will provide coverage for all types of motor vehicle oil, refrigerants, coolants, electrolytes, fluids, nut, bolt, screw, filters, bearings, washers, clips and other similar items that are a part of the vehicle. There is a grace period of 90 days to renew the policy. Our Bike Insurance Policy provides coverage against theft, burglary, riot, strike, terrorist activities. If the policy is expired, even with the benefit of NCB accumulated, insurance firms are not liable in case of any accidents to the expired insured vehicles. Watch the video to know more. Write an Application to Your Insurance Provider. In both cases, approximately all the damage is covered by the company. The insurance company usually sets differently based on the price of these accessories. Damage from stunts with the bike is not covered under the two wheeler insurance policy. Protection is provided against third-party damage, property damage and bodily injuries caused to a third-person. You can always check your claim status by providing your claim reference number with customer care. that needs to be insured. Click the accidental pictures of the vehicle and situation of the accident. All you need to do is click on the Two Wheeler (Liability Only) option and our user-friendly portal will guide you thereon. In this case, the insured has to immediately inform the insurance company, and the latter will ask a surveyor to review the situation. Life Goals Loading… About Us; NRI; Become An Agent; Careers; Contact Us; Life Assist App; Awards; Bajaj Group; Life Insurance Guide; Smart Assist; 11. It is so because the company will pass the claim for the insured two wheeler and not for the repair. To make the two-wheeler insurance claim procedure simple, these following are the steps you can follow: Bajaj Allianz is providing its customers with three ways to register the claim. A bumper to bumper insurance cover is a vital add-on cover for the owner of a two wheeler. false. In the event of the death of the policyholder, the insurance policy is transferred either to the legal heir or to the Nominee of the policyholder. Comprehensive cover with Engine Protection add-on. If involved in an accident, they won’t be compensated at all. After the selection, set the Insured Declared Value of the two-wheelers, which will get you closer to a payable premium amount. Thus bike insurance which protects you completely is required. Just like buying a new policy is easy, renewing the old one is much easier. Renewing your bike third party insurance policy isn’t optional any longer, as is mandated by relevant sections of the Motor Vehicles Act, 1988. The premium calculation in the third party two wheeler insurance policy is based on the engine capacity only. Policy and two-wheelers registration number.