Car Insurance

What is Car Insurance?

Car insurance is a protective cover that helps you manage expenses from accidents, theft, fire, or natural disasters involving your car. In India, third-party car insurance is mandatory by law and covers damage caused to other people or their property.

Bajaj Allianz General Insurance Company offers a range of car insurance plans online—third-party, own-damage, and comprehensive policies. A comprehensive policy covers both your own vehicle damage and third-party liabilities, along with personal accident cover and optional add-ons like zero depreciation, engine protection, and 24x7 roadside assistance.

With Bajaj Allianz General Insurance Company, enjoy affordable premiums, over 7,200+ cashless garages, instant online policy issuance, and a high 98%+ claim settlement ratio. Choosing the right car insurance plan becomes easy with digital tools like the premium calculator and policy comparison features on our website. Always review the policy details, inclusions, exclusions, and terms carefully before purchasing.

Why Should You Buy A Car Insurance Policy?

Owning a car is one thing, but protecting it is another. Roads are unpredictable—accidents, negligence, or bad luck can lead to costly damages. From minor dents to major accidents or natural disasters, your car faces risks daily. Car insurance helps cover these expenses, making it essential for every owner.

Key Reasons to Get Car Insurance

- Covers Own Damage
Cars can be damaged due to accidents or natural disasters. Insurance helps cover repair costs, reducing your financial burden.

- Third-Party Liabilities
If your car causes damage to someone’s property or injures a third party, you are legally responsible for compensation. Car insurance takes care of these costs.

- Personal Accident Cover
Car insurance provides financial support in case of injuries, disability, or even death due to an accident. It also covers passengers for accidental death or disability.

- Legal Requirement
As per the Motor Vehicles Act, third-party car insurance is mandatory in India. Driving without it is an offence and can lead to penalties.

- Enhanced Protection with Add-Ons
You can boost your policy with add-ons like engine protection, breakdown assistance, and zero depreciation cover for extra security.

- Easy Online Process
Digital policies offer paperless applications, quick claim settlements, and instant support, making car insurance more convenient than ever.

Types Of Car Insurance In India

A four wheeler insurance is a must. If you’re looking for an ideal car insurance policy, Bajaj Allianz offers you three types of car insurance policies to choose from. Car insurance prices vary depending on their coverage type. Based on your requirement and budget, you can choose the one that is most appropriate to you.

Let’s look at some of the types of car insurance we offer:

Package Car Insurance (Comprehensive Car Policy)

Comprehensive Car Insurance or a Package Car Policy, covers a broad range of incidents including damage to your car and other vehicles or property. This is the most complete car insurance policy you could get for your four-wheeler. Apart from third-party liability, package car insurance covers own damages expenses such as burglary, explosion, flooding, water clogging and more.

A Package car insurance policy offers you the liberty to include add-ons to your policy and bring in a range of extensive benefits for the protection of you and your car. This includes engine protector, personal baggage, depreciation shield, accessories cover and more.

This is the ultimate online four-wheeler insurance that gives you a holistic protection.

Key Benefits

- Third-party liability

- Own Damage expenses

- Options to include add-ons

- Option to include personal accidental cover

Third-party Car Insurance

This is the most basic and mandatory car insurance policy you can take for your car. When you third-party car insurance, you are letting us – your insurance company – take care of legal obligations that could arise due to an accident caused by you. Your insurer will take care of your legal liability you incur due to your car accident that could be death, injury, disability, or damage to third-party life and property.

Key Benefits

- It covers legal liabilities arising from injuries or damages caused to a third party (another person or their property) due to an accident involving your insured vehicle. 

- It is a mandatory requirement in most countries to have at least a third-party car insurance policy. 

- It protects you from financial losses if you are held legally responsible for damages or injuries caused to others in an accident.

Standalone Own damage Car Insurance

You can purchase a separate own-damage (OD) policy for your car, even if you have a liability-only policy from another insurance company, provided that the third-party (TP) policy is active on the date the standalone OD policy becomes effective.

Pay As You Consume (Usage-based Motor Insurance)

Like the name suggests, this type of car insurance policy lets you pay a premium that is based on the number of kilometers driven. This is a new class of motor insurance policy that requires you to estimate the amount of kilometers you intend to drive or are most likely to drive during your premium tenure.

This is highly beneficial for you if you don't use your car frequently and would like to keep car insurance prices at bare minimum. There are three slabs you are required to declare from - 2,500km, 5,000km and 7,500km.

It’s simple to buy car insurance that is usage-based and all you have to do is go to the website or an app and select a usage-based motor insurance option to get your car insured in three minutes.

For more details: Pay As You Drive Insurance

Usage-based Motor Insurance

As the name suggests, this type of car insurance policy lets you pay a premium that is based on the number of kilometers driven. This is a new class of motor insurance policy that requires you to estimate the amount of kilometers you intend to drive or are most likely to drive during your premium tenure. This is highly beneficial for you if you don't use your car frequently and would like to keep car insurance prices at a bare minimum. There are three slabs you are required to declare one from - 2,500km, 5,000km, and 7,500km. It’s simple to buy car insurance that is usage-based and all you have to do is go to the website or an app and select a usage-based motor insurance option to get your car insured in three minutes.

Read more about: Pay As You Drive Insurance.

While this may give you an overview of car insurance coverage, you should always check with insurance providers, to know more about your desired policy. Also, to peruse the detailed list of inclusions & exclusions, refer to the car insurance policy wordings.

Also read: Partial & Full Car Insurance Coverage.

Compulsory Personal Accident Cover for Owner Driver In Car Insurance

There have been quite misconceptions around personal accident cover being mandatory. So, let us shed some light on this.

According to the Motor Vehicles Act of 1988, car owners and drivers are mandatorily required to have third-party liability insurance as a minimum car insurance policy. Like you know, this covers expenses on 3rd party lives and property damages because of an involvement in an accident.

However, what also needed attention was the losses car owners or drivers incurred because of the accident. From car damages to bodily harms of drivers, the expenses were significantly high for them as well. To decrease the financial burden for car owners and drivers, it was made mandatory for owners to have personal accident cover as well. From January 2019, the Motor Vehicles Act made it compulsory for car owners to include personal accident cover in their policy.

There are two major changes implied -

- A waiver that can be offered to car owners/drivers when they have personal accident cover in their policy with a minimum insured amount of Rs.15lacs

- The vehicle owner/driver having this personal accident cover in their policy for an existing vehicle does not have to buy a fresh insurance policy for a new vehicle Regardless of which car insurance policy you choose, you can include personal accident cover in your policy seamlessly.

Also read: Driver/Passenger Cover Under Car Insurance

How to Compare Car Insurance Online?

Comparing car insurance online quotes is not a tedious task anymore. Comparison of the policy quotes is an integral step to avail the best insurance policy for your car. It enables you to avail an effective insurance premium and have the best coverage against adversities.

To avail of the insurance quotes online you will have to provide important details related to the car. It primarily includes the make and model of the car, manufacture year, variant, fuel type, etc. You can also include add-on riders to the base plan and make it more enhanced.

Standalone Own Damage vs Third Party vs Comprehensive Car Insurance 

In India, there are mainly three types of insurance for car plans. You may pick the one that ideally fits your requirements. However, it is to be noted that a third-party car insurance is compulsory for all vehicle owners.

Also read: Car Insurance Comparison

There have been quite misconceptions about personal accident cover being mandatory. So, let us shed some light on this. According to the Motor Vehicles Act of 1988, car owners and drivers are mandatorily required to have third-party liability insurance as a minimum car insurance policy. As you know, this covers expenses on 3rd party lives and property damages because of an involvement in an accident.

However, what also needed attention was the losses car owners or drivers incurred because of the accident. From car damages to bodily harm of drivers, the expenses were significantly high for them as well. To decrease the financial burden for car owners and drivers, it was made mandatory for owners to have personal accident cover as well. From January 2019, the Motor Vehicles Act made it compulsory for car owners to include personal accident cover in their policy.

There are two major changes implied -

- A waiver that can be offered to car owners/drivers when they have personal accident cover in their policy with a minimum insured amount of Rs.15lacs

- The vehicle owner/driver having this personal accident cover in their policy for an existing vehicle does not have to buy a fresh insurance policy for a new vehicle Regardless of which car insurance policy you choose, you can include personal accident cover in your policy seamlessly.

Also read: Driver/Passenger Cover Under Car Insurance

Calculate Your Car Insurance Premium

When it comes to buying an insurance policy, a premium plays an extremely crucial role. The insurance premium is dependent on various factors. A car insurance calculator is an online tool that helps to determine the vehicle insurance premium. Knowing the premium amount helps to make an informed decision. With the help of the calculator insurance buying decision makes it easier, simpler, and quicker.

Steps To Calculate Car Insurance Premium Online

With our quick and simple car insurance premium calculator, you can get car insurance quotes online in seconds. To know your premium amount, just follow the steps below.

Step 1

Head to our car insurance calculator

Step 2

Enter your name & provide additional details like your existing Bajaj Allianz policy and your contact details

Step 3

Provide the registration number of your car or specify it’s a new car if your car is yet to roll out. Specify details of your car’s make, model and variant

Step 4

Mention the geographical location of your car’s registration and specify the date of registration. Mention your pin code

Step 5

Your premium would reach your email address instantly

Let us understand the important factors that help to calculate the insurance premium of the car:

Insured Declared Value: The present value of the four-wheeler is referred to as the Insured Declared Value (IDV). It is the highest sum for which the policyholder can raise a claim. It simply implies that the higher the value of the car, the higher would be the IDV and likewise.

No Claims Bonus: A No Claims Bonus is also known as an NCB. This is offered by your insurance company as a reward for not availing claim for a specific period of time (Minimum 1 year). Depending on your insurer, this duration varies depending on number of consecutive claim free years. This bonus only increases with the increase in the number of years you haven’t claimed any insurance. And this bonus can fetch you discounts on your four wheeler insurance premium, thereby decreasing the price you pay every year.

For instance, if you don’t claim insurance for two consecutive years, you are likely to get a discount of up to 25% on your insurance premium. To get an extensive idea about No Claims Bonus in Car Insurance, check out the table below

Voluntary Excess: Voluntary excess is when you step forward to pay extra for your car insurance to share a portion of your car’s risks. In voluntary excess, you voluntarily pay excess to your car insurance policy so that when you have to make a claim, this amount is deducted by your insurer and the remaining amount of your claim is taken care of by your insurance company. This is otherwise called deductibles in Motor Insurance. For instance, let’s assume you buy car insurance online. When buying you have paid a voluntary excess of ₹ 4500. Now when the value of your claims is ₹. 9000. Your insurance company will bear the half of the value and you the other half. The benefit of availing a voluntary excess is it allows you to get discounts on your car premiums. So, depending on this, your four wheeler insurance premium would be higher or lower. Depending on how much you have paid as an excess voluntarily, you are eligible for a specific discount slab. 

Car Insurance Claim Procedure

Once your car insurance is active, you can claim compensation for accident-related damages. A motor insurance claim requests your insurer to cover costs based on your policy’s terms. For third-party insurance, claims involve your insurer handling settlements for damages caused to others.

There are two types of claims: cashless and reimbursement. Let’s explore both and their procedures.

Cashless Car Insurance Claims

Availing cashless insurance claims is easy. Simply follow the steps mentioned below:

- Call your insurance provider or visit your provider’s website or an app to register your cashless claim.

- Receive the claims registration number that is sent to you on successful registration.

- Move your damaged car to an authorized cashless garage shed to initiate the repairs. For a cashless garage, you can take your vehicle only to network garages as transactions between your insurance provider and the garage happen directly.

- Submit the required documents to your surveyor.

- Once surveyed, your insurance company confirms the liability.

Also read: Cashless Car Claim Settlement

Reimbursement Claims Insurance Policy

In this, you have to shell out money from your wallet to recover the damages to your car. Your insurance company then intervenes and reimburses the expenses you incurred in the process after successful verification of documents and coverages.

Here’s how you can avail reimbursement claims:

- Call your insurance provider or visit your provider’s website or an app to register your reimbursement claim.

- Receive the claims registration number which is sent to you on successful registration.

- Move your damaged car to a garage near you. In this case, it is not mandatory to get your car serviced from a network authorized garage.

- Submit the required documents to your surveyor.

- Once surveyed, your insurance company confirms the liability and initiates the reimbursement procedure.

- Car Insurance OTS Claims

- This is the latest offering that has been made seamless because of tech intervention. OTS stands for On-The-Spot and like the name suggests, this allows you to make spot claims of your insurance.

Also read: How to file car insurance claim using the Motor OTS feature

What Happens If Your Car Insurance Expires?

As imperative as it is to buy car insurance, it is even more important to renew car insurance timely. The vehicle insurance policy should be active as it financially protects from any adversity. Now, let us understand what happens if the insurance policy gets expired:

- Financial Liability: If the car incurs any loss or damage after the car insurance policy lapses, the individual will end up paying from their pocket.

- Not Abiding by Laws: In India, third-party motor insurance is a mandate. If found driving the car without a valid insurance policy, it could lead to legal or financial implications. Driving a car without insurance implies not abiding by the laws and makes you liable to pay a hefty penalty and sometimes also leading to imprisonment.

- Loss of No Claim Bonus: No Claim Bonus is a reward given to the insured as a reduction on the insurance premium for every claim-free year. The accumulated NCB that is earned from the vehicle insurance over the years will get nullified if the policy is not renewed timely. The period for the same may vary from insurer to insurer.

Why Should You Buy Car Insurance Policy Online?

If you are planning to buy new car insurance, then it’s important to make an informed decision. Let us now look at understanding the key reasons for buying Package car insurance

Adhering to the Law

As per the Motor Vehicles Act, it is a mandate for all vehicle owners to have third-party insurance in place. Anyone found going against the law is liable for legal implications and penalties. Hence, ensure to have a suitable insurance policy that complies with the law.

Remain Fully Protected

A package insurance plan is ideal as it offers protection against any third-party liability. It offers protection to the policyholder as well. The insured remains covered for any incurred loss or damage due to natural calamities such as earthquakes, etc. Moreover, it also covers man-made calamities like theft, and so forth.

Cost-effective in the long run

Comprehensive insurance plan is helpful if the insured car incurs any damage or dent in an adverse situation. At times, the repairing or replacement costs could be heavy and could put you under financial strain. Having an optimum vehicle insurance cover keeps you protected in the long run. Before you zero down on a plan, you may consider comparing various car insurance prices.

No Claim Bonus

The comprehensive plan offers a ‘No Claim Bonus in Car Insurance’. Under it, the policyholder gets some monetary relaxation during the renewal of car insurance for every claim-free year. Besides, the No Claim Bonus coming into the picture makes the insurance premium more lucrative for the policyholder.

Also Read: Reasons Why You Should Choose A Comprehensive Car Insurance Plan

Benefits Of Buying Car Insurance Online

The internet is all about experiencing convenience. The technological advancements in recent times have allowed mankind to operate vehicles from remote places and send rovers to distant planets. Buying car insurance online is not a big deal. It’s easy, user friendly and allows you to avail one in minutes. 

If you have been apprehensive about buying a car insurance online, let us remind you that buying online is one of the simplest and quickest ways to insure your car or 4 wheeler. To help you get a better idea of how convenient it is. Here are some benefits of buying car insurance online. 

Car Insurance Comparison

Deciding on a car insurance policy is as difficult as deciding on a car or four wheeler. From one showroom to another, you walk around for the best price, offers, specifications, preferred colour, deals and more and finally zero-in on one. Buying four wheeler insurance is similar to this.

You explore multiple options – from the basics to comprehensive car insurance policies with add-ons – you extensively check out plans, calculate premiums, look for discounts and more before deciding on one.

But this complexity in finding a car insurance policy is simplified by the internet as it allows you to compare car insurance policies simultaneously under your preferred parameters and instantly get an idea of which policy makes more sense and affordable. This way, you avoid going from one provider to another in search of savings and benefits.

Though an agent can offer you the details, there could be times they are biased as well. So, a computer-generated quote with no agenda is what you need. This makes buying car insurance online an ideal choice.

Completely Customizable

Like we saw, a four wheeler insurance policy is very subjective and depends on a lot of factors. From generic ones like your car manufacturer and modifications to personal decisions like options for specific add-ons and discounts, you need to tailor your insurance policy.

And buying car insurance online is the simplest way to get an insurance policy. By simply checking on boxes and features, you can customize your insurance policy, modify add-ons and requirements, generate quotes and checkout to buy your insurance policy online

Transparent

As far as buying car insurance online is concerned, what you see is what you get. All charges are marked on your quotes and there are no last-minute hidden charges that suddenly pop out of nowhere. You always know how much you would pay and the benefits you get for what you pay before you buy a car insurance. Besides, reading through the terms and conditions are also simple and there are several audio-visual elements to explain complex insurance-related concepts.

Convenience

Imagine you are on your way home in a cab and your car is about to arrive the next day. You immediately pull out your app or a website on your smartphone and get car insurance in a few minutes before you reach home. Buying a car insurance online is as convenient as it gets because regardless of where you are, you can get car insurance almost instantly.

Zero Agents Involved

Like we mentioned, you won’t be subjected to an agent’s bias when buying a car insurance online and regret later. With online facilities, you directly interact with your service provider and every little detail you need to know to buy insurance is provided to you. You can make informed decisions without an agent and walk away with an insurance policy that only works in your favour.

Verify Insurer’s Credibility

One of the best benefits of buying car insurance online is that you can validate your insurer’s credibility. You can explore your insurance provider’s website and review portals to look for their settlements ratio and records and see in detail how they assist their customers when it comes to claims and support. Depending on reviews and records, you can make a wise choice of going ahead with them or checking out more options.

Validity Of Policy

Online policies are as legitimate as traditionally-purchased policies. When you buy car insurance online, your copies are immediately sent to your email address you specify and become valid the moment you make your payment. You can then take a print out of your paper and document them for use. With online insurance, there is no need to feel paranoid at all.

Instantly Receive Policy

Once you make your payment, all you need to do is head to your email inbox. You would see your car insurance policy waiting right there for you. You can check for the details and print them out for use. No hassles. No interruptions. Buying car insurance online is the best.

Zero Paperwork

Imagine protecting your car and your environment from risks. That’s what happens when you buy car insurance online. There is no form-filling involved, no document submission and more. You mention your details, upload documents, and the policy reaches you as a document. End of process.

Buy/Renew Four Wheeler Insurance For Old/Second Hand Car

Similar to your brand new car, a pre-owned car requires a substantial insurance policy as well. But there are several overlapping layers attached to this as the previous owner of your car would have already gotten a valid car insurance online. If there is insurance, get it transferred to your name. This happens in less than two weeks.

So, when you intend to buy car insurance online for your pre-owned car, ensure to look at the following factors

- Look for your car’s claims history as it will give you an idea of the previous claims made. Once the policy is transferred to your name, you can simply enter your policy number on your provider’s website and get the details.

- Ensure you transfer your no claims bonus to your car insurance to continue to avail benefits.

- If there is no insurance availed by the previous owner or if it has expired, you can get new insurance for your car immediately.

- Once the transfer of a car insurance policy happens, make sure you check for its expiry date. If the validity of your four wheeler insurance is about to expire soon, renew it on time.

Also Read: Old Car Insurance

If you are planning to buy new car insurance, then it’s important to make an informed decision. Let us now look at understanding the key reasons for buying Package car insurance

Renew Long-term Car Insurance

In case you bought your four-wheeler after September 1, 2018, you would have compulsory 3-year third-party insurance, which is a mandate. Perhaps your car insurance renewal is around the corner.

If you are an existing Bajaj Allianz Car Insurance customer, all you need to do is just enter your car policy number. Next enter the vehicle registration number and begin the process of renewal in a hassle-free way. Renew your motor vehicle insurance and be secured for the long run.

Also read: How To Find Vehicle Registration Details Online

How to Reduce the Cost of Your Car Policy?

Now, let us know some of the key ways of reducing car insurance premiums. Yes, you read it right! You can reduce the premium amount without compromising insurance coverage. Here are some tips to reduce the vehicle insurance premium:

- Do Not Make Small Claims: By now you would know, that for every free claim year, you earn a No Claim Bonus status and can further enjoy its benefits.  For a claim-free record, you could save money as high as 50% (On basic OD premium) at the time of renewal. So, if you make even the smallest claim, you will not be able to enjoy the NCB benefit.

- Opt Voluntary Deductible: You may decrease insurance premium by increasing  the voluntary deductible. It helps to reduce the insurance premium amount.

- Choose the Right Car Insurance Cover: Choosing the cover that is essential for the car. With an array of add-on covers, it is not necessary to include all of them. Rather be mindful and tactful of what coverage you want.

- Install Security Devices: Installing a security device is indeed a smart choice as it not only keeps the car safe but also reduces the risk of your vehicle being stolen. It implies that low risk is equal to low insurance premiums.

*Standard T&C apply

Also read: Proven Tips to Get Concessions on Car Insurance

How Can You Save on Your Car Insurance Premium?

Listed below are some easy tips that may help you to reduce or save on the car insurance premium:

Have a Good Driving Record:

Driving safely and responsibly is extremely important. Do not over-speed your vehicle as doing so may lead to accidents. It's better to have a good driving track record as insurance companies offer a lower insurance premium to the ones with a clean record as compared to those with a history of traffic offences.

Choose the Add-on Wisely:

Undoubtedly, including the add-on riders enhances the overall security of the plan. However, it is recommended to only choose the add-ons that are required and are going to be advantageous in the long run. Hence, be selective and pick the add-ons that are going to be beneficial.

Increase the Voluntary Deductible:

In case no claims were made in the recent 4-5 years or you paid for the damages from your pocket, you may look at increasing the voluntary deductible. Increasing the voluntary deductible helps to decrease the insurance premium for the four-wheeler

Important Terminologies Related to Car Insurance

Furthermore, let us now get an understanding of the various important car insurance terminologies listed below:

- Coverage: It refers to the financial security of the plan. The coverage of the vehicle insurance policy will differ on the premise of the plan that has been bought.

- Premium: It is the sum that the policyholder needs to pay as per the policy. To enjoy the maximum benefits of the policy, it's important to pay the insurance premium timely.

- Depreciation: Every year the value of the car gets decreased by a specific percentage. The decrease in the value is known as depreciation. Also during partial loss claim certain % of deductions are applied on the allowed parts depending of the nature of parts are also called depreciation.

- Own Damage: Any losses or damages incurred by the owner fothe cart by way of damage to the car is referred to as own damage. It could be due to various factors such as natural or man-made calamity, etc.

- Fixed Deductible: It is an amount that needs to be paid during an insurance claim fixed as per the standard wordiong decided by the regulator . The fixed deductible charges are also known as compulsory or file charges.

- Consumables: These include the parts of the car like fuel filters, gearbox oil, grease, engine oil, etc. These are referred to as consumables.

- Voluntary Deductible: It is that part of the claim that is to be borne by the policyholder voluntarily. In case the voluntary deductible is high, the insurance premium of the car will be low.

*Standard T&C apply

What Factors Impact Insured’s Declared Value (IDV)?

Insured Declared Value is important as it offers an estimated market value of the vehicle. It also gives an idea about the amount that the insurance company would offer in case the vehicle incurs a complete loss.

Here’s a rundown of the factors that impact the IDV of the car:

- Age of the Car: Yes, the age can easily increase or even decrease the IDV of the car. As the car gets older, the Insured Declared Value does take a dip. It is because of the car parts being depreciated over the years.

 - Make and Model of the Car: Over the conventional car, an advanced car offers the higher Insured Declared Value. It is because high-end cars have a better market value and remain in trend too. The overall make of the car impacts the IDV.

 - Place of Registration: The market value of the vehicle is also dependent on the geographical location where it is registered. For instance, for any four-wheeler bought in a metro city, the IDV for it will be higher compared to the ones bought in Tier-III cities.

Why Should You Renew An Expired Car Insurance Policy Immediately?

It is absolutely vital that you renew your expired four wheeler insurance as early as possible. Like we saw, the primary reason for this is to avoid legal complications as it is illegal to drive without a valid insurance policy. Apart from this, there are two major reasons you should renew your car insurance immediately –

To Avail Your No Claims Bonus

When you don’t renew your policy, you will lose out on your no claims bonus you are eligible for. Your bonus accumulates over the years to fetch you good discounts and other benefits. If you don’t renew, they will lapse. 

Financial Burden

 Without a car insurance policy, you should bear the financial burden that stems out of misfortunes like accidents or damages to your car. You will have to pay from your savings or pocket for the recovery of your car. To prevent financial burden of any sorts, renewing four wheeler insurance is highly recommended. You can renew car insurance online seamlessly. 

New Vehicle/Car Insurance Policy

When purchasing a new vehicle, securing the right insurance is essential. Bajaj Allianz General Insurance Company offers a New Vehicle Insurance Policy designed to provide comprehensive coverage, ensuring your car is protected from unforeseen damages, accidents, theft, and third-party liabilities. The policy also includes additional features like Zero Depreciation Cover, Personal Accident Cover, and an extensive network of 7,200+ cashless garages. With 24x7 Roadside Assistance and On-the-Spot Claim Settlements, you are guaranteed prompt support during emergencies.

Here’s how you can secure a New Vehicle Insurance Policy from Bajaj Allianz General Insurance Company in easy steps:

- Visit the Website or Mobile App

- Enter Vehicle Details

- Choose Coverage and Add-ons

- Complete Payment and Receive Documents

Protect your new car with Bajaj Allianz General Insurance Company today!

Documents Required to Buy Car Insurance Online

When you buy car insurance online, ensure you have the soft copies of the following documents in hand to seamlessly complete the car insurance application or process in minutes -

- Details about your vehicle including registration number

- A valid driver’s licence

- Bank details

- Tax receipts

- Filled insurance forms

We are one step ahead when it comes to providing you with hassle-free and straightforward motor insurance. Give us one minute to show you how by watching this video

Car Insurance Add-On Covers

Add-ons are additional features or benefits you add to your car insurance to make it more extensive. The add-on covers you add only decrease any financial burden you are likely to incur at the event of an accident or a calamity. At the same time, the more the add-ons you include in your policy, the higher the premium you have to pay. For the most ideal four wheeler insurance, we recommend you adding features that are value additions to your policy. Let’s look at some of the add-ons we offer.

Depreciation shield

This is an add-on you could add to your comprehensive car insurance policy. To understand what zero depreciation is, let’s first look at depreciation.

Zero Depreciation

This is an add-on you could add to your comprehensive car insurance policy. To understand what zero depreciation is, let’s first look at depreciation.

Cars are highly valuable until you purchase them. From the time you purchase, your car is subjected to depreciation, which means that it is losing its value in the market as it gets older. Not just the car but the spare parts powering your car as well. That is why older cars have a lower pricing in the market than their recently-purchased counterparts.

With the zero depreciation cover add-on, what you are basically doing is nullifying the depreciation associated with your car. This means that your car, technically, does not lose value in the market as the depreciation of your car is not considered by your insurer.

So, when you claim your insurance, you receive full value for your car and all of its spare parts. Bumper to bumper cover incurs the most expensive premium and is worth every penny shelled. We highly recommend this add-on especially if your car is less than 5 years old.

Features:

- Depreciation shield for the car

- Depreciation shield for the spare parts

Engine Protector

The engine is one of the most crucial parts of a car. Unfortunately, however, the expenses you incur on the damages to your car’s engine are not covered under standard car insurance. Being one of the most expensive parts for servicing, you end up spending more to recover your car’s engine from an accident.

That’s why the engine protector add-on is the most ideal solution to feature in your insurance policy. It covers expenses arising due to water ingression, oil leakage, hydrostatic lock and more. This helps you save up to 40% of the amount you would spend on getting your car’s engine fixed.

Features

- Protection against damages to engine and engine parts

- Protection against damages to differential parts

- Protection against damages to gear box and gear box parts

24/7 Spot Assistance

One of the most helpful add-ons for your car insurance, this ensures you are never stranded on the road due to any concern associated with your car. Our team is just a call or a click away to assist you or get to you to help you deal with a car situation regardless of where you are stuck in India.

So, no matter if you have to get a tire changed, or have an expert look into your car’s engine or need assistance in settling an accident, you can reach out to us at any time and we will be there by your side in a very short duration.

Features

- Pan India Coverage

- Spot Assistance for diverse car situations

Key And Lock Replacement

Car keys are some of the most misplaced items in the world. From forgetting them at a restaurant to losing them at your own home, car keys are easily overlooked. Sadly, there are expenses involved in getting new keys for your cars as it’s not just the key that has to be replaced but the entire locking system as well.

That’s why this add-on is here to reduce the expenses you are likely to incur because of misplaced or lost keys. We take care of the entire purchasing and replacing of your car’s lock and keys.

Features

- Expense coverage on key replacement

- Expense coverage on lock replacement

Consumable Expenses

Like we said, buying a car and maintaining a car are two different things. There are frequent expenses involved when it comes to the maintenance of your car. From servicing spare parts to replacing them, there are expenses surrounding your car all the time. And we are not even talking about the different types of car oils that need to be changed every now and then and during an accident.

With the consumable expenses coverage, you can let us take care of the expenses involved in the use of consumables for your car at the time of claim or post-accident.

Features

Consumables expenses involving

- Engine oil

- Brake oil

- Coolant

- Gear box oil and more

Personal Baggage

A car is your personal and private safe where you leave your belongings inside until your work outside is done. From laptops and expensive gadgets to money or money’s worth of valuables, you keep materials inside your car very frequently.

But this is not without its threat, where it is subjected to instances like thefts and burglaries especially when you leave your car in less populated avenues or remote places. That’s why the personal baggage add-on protects your personal belongings and covers the loss you incur because of damage or their theft from the car.

Features

- Indemnification for damage to personal baggage

- Indemnification for loss of personal baggage

Conveyance Benefit

Another highly convenient add-on, where we take care of the little yet significant concerns you are likely to face in your everyday life post an accident.

When your car is getting repaired in a garage and after your claim is accepted by us, this add-on ensures you get paid from us for your everyday commute. With this, you don’t have to worry about burning a hole in your wallet for the daily cab or transportation charges you are likely to pay during your car’s servicing.

Features

- Conveyance for your everyday commute

VPAY

Industry’s first game changing add-on cover that can simplify motor insurance related worries like never before. This new age cover offers 360° coverage and umbrella protection for all motor own damage needs of Insured vehicles. It will liberate you from not only answering numerous questions asked at the time of claim but will also free from the hassles of choosing an array of add-ons to protect your private car. An add-on cover that provides a balanced solution for the vehicle insured catering to both conventional risks, addresses emerging risks and increasing cost of ownership. Under the Own Damage section of V-PAY, we are offering two plans to customers: Elite and Classic cover. VPAY plans offer below unique benefits such as:

Features

- A one-time smart repair option enables car owners to address minor damages in one visit.

- Protection for the vehicle's digital sense devices, especially with the rise of connected cars and advanced driver assistance systems (ADAS).

- Waiver of compulsory deductible.

- Cyber Risk Protection for software issues, cyber extortion, and theft of funds resulting from cyber-attack.

- Safeguard of electric and hybrid vehicles from damages caused by power surge, explosion, water ingress, and short circuit.

- Coverage of mechanical and electrical breakdowns that are not a result of accidents, which are typically excluded from standard motor insurance policies.

- Repair cost in case of vehicle towing and retrieval.

- Covering damages if the vehicle is left unattended on the accident spot.

- Covering accessories and CNG fitment if customers forgot to declare during the policy.

*T&C apply

Basis of Arriving at Insured Declared Value (IDV) of the Insured Vehicle:

List of products specified in the list above are governed by the Indian Motor Tariff. 

The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured’ and it will be fixed at the commencement of each policy period for each insured vehicle.

The IDV of the vehicle (and accessories if any fitted to the vehicle) is to be fixed on the basis of the manufacturer’s listed selling price of the brand and model of the insured vehicle at the commencement of the Policy. The IDV shall change according to the depreciation grid below for each block of one year within the policy period. 

THE SCHEDULE OF DEPRECIATION FOR FIXING IDV OF THE VEHICLE

The IDV arrived as per the above method may be further adjusted basis various factors such as location, make and model etc, with agreement of the Insured and as captured in the Policy Schedule.

The age-wise depreciation schedule shown above is applicable only for Total Loss/Constructive Total Loss (TL/CTL)/Cash Loss claims.

IDV of vehicles beyond 5 years of age and for obsolete models (i.e. models that manufacturers have discontinued) is to be determined on the basis of mutual agreement between the Insurer and the Insured.

IDV shall be treated as the Market Value throughout the Policy Period without any further depreciation for the purpose of Total Loss (TL)/Constructive Total Loss (CTL)/Cash loss claims.

Basis of Arriving at TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle:

The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and/or repair of the vehicle, exceeds 75% of the IDV of the vehicle, subject to terms and conditions of the policy.

The liability of the Company shall not exceed the Insured's Declared Value (IDV) of the vehicle in the event of total loss/ constructive total loss/cash loss for the year in which loss has occurred. IDV as on date of loss shall be computed as specified under basis of arriving at Insured Declared Value (IDV)

If a damaged motor vehicle is assessed as being unrepairable and hence a wreck i.e. a ‘total loss’ or ‘write-off’, You shall have the option to retain the wreck and accept a ‘cash loss’ settlement (being the IDV less the assessed value of Salvage based on competitive quotes procured by the Insurer including any submitted by or through the Policyholder).

Note: For the purpose of computation TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle aggregate cost of retrieval shall mean Company’s aggregate liability as per the terms and conditions of the policy.