Bajaj Allianz 4 Wheeler Insurance Policy Download

All transactions, whether they are financial or of any other nature, must be conducted exclusively through our branch offices, our online portals www.bajajallianz.com, our insurance agents or POSPs, or via insurance intermediaries registered with IRDAI who are engaged in solicitation. If you require additional clarification, please write to us at bagichelp@bajajallianz.co.in

Bike Insurance is a safety plan that protects bike owners from any liability to third parties, arising due to the usage of two-wheelers. Two wheeler insurance is a contract in which the insurance firm covers financial aspects related to any loss or damage to a bike.

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Third party bike insurance is mandatory to everyone owning two-wheelers, under Motor Vehicle Act, 1988. Two wheeler Insurance covers you financially when accidents cause damage to the vehicle by paying for the repairs. It minimises the blow due to natural calamities or third party liabilities / personal accidents as well.

Two wheelers are a vital part of the economy as it is the most convenient mode of transportation. Two wheeler insurance is required to reduce the risk that generates from being on the road in general. These are the following benefits and facts to have a Bike Insurance Policy:

Earthquakes and floods are less frequent; still, it is something that your bike insurance policy covers. If you become a victim to uncertainties, one can always seek a claim for the damages under the bike insurance policy.

The bike insurance policy also covers the owner and will compensate in case of injuries due to bike accidents. The person can use the money, the amount of bike insurance claim can differ under different circumstances.

Law is the prime leading authority and can abide by the citizens. The bike insurance policy is a mandatory aspect of Indian law. Under the Motor Vehicles Act, every vehicle owner has to have at least a third-party two-wheeler insurance cover.

The two wheeler insurance market is adding new terms and conditions with each passing year. If you want the best bike insurance policy for yourself, here are the 6 things you should know about bike insurance:

Short term two wheeler insurance was valid in India till 2015. Every year one had to renew their two-wheeler insurance. Still, now with the permission of the Insurance and Regulatory authority of India (IRDA), long term insurance plans can be implemented.

The long term coverage plans include two wheeler insurance policies for a maximum of three years. With the working burden and stress, it's not easy to visit an agent every time you need to renew your policy. Just opt for the two-wheeler insurance facility online.

Insurance is a financial cover to take the blow of loss and damage occurred in an accident. The two wheeler insurance policy is a legal obligation in India. The cover type and the premium amount for the bike insurance policy is dependent upon the coverage plans you select.

There are mainly two types of two wheeler insurance in India. Most of the policies concerning two wheelers revolve around them. With adding certain chargeable benefits in the mix, you are eligible to receive the best offers on your possessions.

In this type of two wheeler insurance plan, the third party is insured as well as the rider/ policyholder/ owner/ vehicle itself. These all are benefited in a single policy, and the additional add ons are also applicable at an extra premium cost.

The comprehensive two wheeler insurance policies are fixed and created by every insurance firm individually. They each have different offers based on the comprehensive policy cover. The premium charge is relatively high under this type of two-wheeler insurance.

In this type of two wheeler insurance, only third parties involved in the accidents are covered and compensated. It is beneficial for the rider or the owner in terms of legal obligations as the third party two-wheeler insurance protects them and the other parties involved in the incident. Every two-wheeler must have a third party insurance for bike.

It is a legally regulated and mandatory insurance policy sanctioned by the Insurance Regulatory and Development Authority. The bike insurance premium is cheaper than the comprehensive policy premium, but the coverage is also lesser.

Under the standalone own damage cover, you will get claim benefits in case of accident, theft, natural or manmade damages. This type of two wheeler insurance cover can be coupled with comprehensive bike insurance or long term two wheeler insurance policy.

However, a standalone insurance policy for bike cannot provide cover against the 3rd-Party liabilities. In addition to this, you cannot expect to get coverage against depreciation, electrical damages, mechanical problems/breakdown, and damages incurred due to DUI, drugs usage and underage driving.

Two wheeler insurance is essential for the safety of the rider and vehicle too. Every insurance firm has something different to offer to the customers. Ergo, always compare two wheeler insurance policies beforehand, never rush in such decisions. Some major two wheeler insurance policy benefits include:

Reducing the financial stress: As discussed earlier, the financial benefit with the two wheeler insurance policy shields the policyholder from unwanted stress. A secure and intelligent 2 wheeler insurance plan can reduce the financial liability as the compensation is handled and carried by the insurance firm.

Gives legal protection: If involved in an accident, the fatal injury to the third person involved can land you in legal hazards and burden. To solve this in general, the IRDA has formulated the rule to have the following two wheeler insurance. It safeguards the rider and the policyholder from legal battles.

WEF August 1, 2020 the new two wheeler insurance policy covers will be implemented. The core guidelines stated in the new rules ask the general insurance companies to withdraw the long-term insurance packaged (3 to 5 years) on 3rd Party and Own-Damage Covers.

If the bike is sold or there is a new bike in its place, then even the NCB will stand by the policyholder itself and is not transferred to the bike. 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.

IDV stands for Insured Declared Value; this means that if the IDV of your two-wheeler insurance is higher, your premium amount will be higher as well. With the ageing of the vehicle and depreciation in the IDV lessens the premium paying amount of your bike insurance.

Those who do not have adequate knowledge try to reduce the premium of bike insurance, and they reduce the IDV of the vehicle. In case the vehicle is stolen, the IDV value is considered as compensation and not the market one. If your IDV is lesser, you are going to be at a loss on the theft or total loss of your two wheelers.

Zero depreciation in the bike insurance policy is the add-on cover which has to be purchased at an extra premium cost. This policy is applicable for 1 year, and it covers your two wheelers without considering the depreciation factor.

Deductibles are the out of the pocket costs that are charged and paid by the insured person and then the two wheeler insurance coverage kicks in. The deductibles are like the helping costs for the insurance companies.

Buying a maximum coverage bike insurance with minimum premium is everyone's preference. Several elements are a part of the bike insurance policy. Before buying or renewing a policy, one should have complete knowledge of all the components in a two wheeler insurance policy and how they affect you directly or indirectly, to help you choose wisely.

Two wheeler insurance is a basic requirement when purchasing a bike or other two-wheelers. It was a lengthy and detailed procedure earlier. But now it is a quick and hassle-free process of just sitting at your device and fulfilling the essential details asked online.

There are many choices when it comes to a two wheeler insurance policy, but a third party cover is mandatory in India. Buying a bike insurance policy is rewarding because it gives you peace of mind. These are the benefits of buying two-wheeler insurance online:

Every time one goes out to buy something, considering the cost and benefits of the same is the essential. Same goes for the buying process of two wheeler insurance. Buying bike insurance online policy is the easiest procedure, and one can secure their motorcycle within quickly and safely.

Bajaj Allianz offers many bike insurance policies and covers with add on benefits along with the easiest method for claims. When it comes to claiming a policy, the situation always seems a bit tricky, and one without complete knowledge can feel helpless. To make the two-wheeler insurance claim procedure simple, these following are the steps you can follow:

Because of the connected garages, the consumers will not have to pay at the partner garages. You can go to the listed garage, get the work done, and do not pay for the items covered under the policy. The insurance provider will pay directly to the garage.

Second-hand bikes are readily available in the market at much lesser prices and without hassle as well. Just like the other two-wheeler insurances, the second-hand bike insurance is a basic and mandatory requirement as well. It is just like other policies that protect you and your bike from damage and losses caused to the third parties and self.

Before getting a bike insurance policy for a second-hand bike, check whether the previous owner has an insurance policy or not. If yes, make sure that you get the insurance transferred in your name within the 14-days of purchase.

When a two-wheeler is purchased, the extent of depreciation increments. Buying coverage for a bike which has been used over the years and is depreciated is considered as Old Two Wheeler Insurance. Choosing third-party insurance or comprehensive bike insurance is your decision entirely. 17dc91bb1f