Bajaj Allianz Two Wheeler Insurance

What Does It Cover?

?Section I: Own Damage

Bajaj Allianz Two Wheeler Insurance provides coverage for loss or damage to your vehicle and its accessories in the event of -

• Fire, lightning, self-ignition or explosion.
• Theft, burglary, or housebreaking.
  • Riots and strikes.
• Earthquakes, including fire and shock damage.
• Hailstorms, floods, hurricanes, storms, cyclones, typhoons, tempests, inundation, frost.
• Accidental external sources.
• Malicious acts leading to damage.
• Terrorist activities.
• While in transit, whether by road, inland waterway, rail, elevator, lift, or air.
• Landslides or rockslides.

The coverage involves deducting depreciation rates for replaced parts in the following manner –

• 50% depreciation for rubber, nylon, plastic parts, tires, tubes, batteries and airbags.
• 30% depreciation for fibreglass components.
• No depreciation for glass parts.
• The depreciation rate for all other parts, including wooden ones, will follow this table –

• For painting, a 50% depreciation rate is applicable only to the material cost within the total painting charges. In the case of a consolidated bill for painting, 25% of the total painting charges will be considered as the material cost when applying depreciation.

?Section II: Liability to Third Parties
Bajaj Allianz Two Wheeler Insurance will provide compensation to you for –

• Bodily injury/death caused to any person.
• Damages to property, other than your property or the one held under your care or custody.  

?Section III: Personal Accident Coverage for Owner Driver
Personal Accident (PA) coverage in two-wheeler insurance is a financial safeguard from the risk of physical disability or death due to an accident. This coverage is provided alongside your vehicle insurance, just like general insurance, which offers financial compensation.

Bajaj Allianz Two Wheeler Insurance will provide coverage in case of death or bodily injury suffered by the owner-driver, as outlined in the table below –

Note: Personal accident coverage is subject to terms and conditions.
 

What Is Not Covered?

The insurer will not be liable/responsible to honour any claims related to the following situations –

• Consequential loss, depreciation, regular use causing wear and tear, mechanical or electrical failures or breakages.
• Damage to tyres and tubes, unless your vehicle is damaged at the same time. In such cases, the insurer will only be responsible for covering 50% of the replacement cost.
• Loss or damage resulting from accidents while you or anyone driving the vehicle with your consent is under the influence of alcohol or drugs.

Insured Declared Value (IDV)

The IDV is essentially the market value of your bike and it represents the maximum compensation your motor insurance company will provide in case your vehicle is stolen or suffers irreparable damage. In other words, this is the highest cover amount available for your vehicle in a bike insurance policy.

Here’s the depreciation schedule used to determine the IDV of your vehicle –

General Exceptions

Under Bajaj Allianz Two Wheeler Insurance, the insurance company will not be liable or responsible to cover the following circumstances –

• Any accidental loss, damage, or liability that occurs outside the specified geographical area.
   
• Any claims arising from contractual liabilities.
   
• Any accidental loss, damage, or liability occurs while your vehicle is used in ways not in line with the 'Limitations as to Use'.
   
• Any accidental loss, damage, or liability occurs when your vehicle is driven by someone other than the driver specified in the driver's clause.
   
• Accidental property damage, loss, or related expenses, as well as any resulting consequential losses.
   
• Any liability, whether directly or indirectly, resulting from ionising radiations or radioactivity contamination, nuclear fuel or the combustion of nuclear fuel. The term "combustion" in this context includes any self-sustaining nuclear fission process.
   
• Any accidental property damage, loss, or liability directly or indirectly linked to nuclear weapons material.
   
• Any accidental loss, damage, or liability, whether it is directly, indirectly, closely, or remotely connected to war, invasion, actions by foreign enemies, hostilities, or war-like activities, whether before or after a formal war declaration and any direct or indirect consequence of these events. In case of a claim, you must prove that the loss, damage, or liability did not have anything to do with or result from these events or their consequences. If you fail to provide such proof, then the insurer will not be liable to pay your claim.

 
Add-Ons Available With Bajaj Allianz Two Wheeler Insurance

Here are some of the add-ons you can opt for with Bajaj Allianz Two Wheeler Insurance -

1️⃣Zero Depreciation Add-On
With time, your two-wheeler ages and gets used more. This leads to a decrease in its value, known as ‘depreciation’. When you file a claim with your bike insurance company, this depreciation can lead to a reduced payout. And, this can leave you with out-of-pocket expenses, especially if the loss/damage is more.

Enter - the Zero Depreciation Add-On! It’s available at an extra premium and can be a valuable addition to your Bajaj Allianz Two Wheeler Insurance policy. With this coverage in place, you will not have to worry about any depreciation in your two-wheeler’s value as you receive the full claim amount you are entitled to, without any deductions. This add-on ensures that the insurer covers all expenses incurred without deducting the depreciation.

2️⃣NCB Protect Add-On
If you don’t make any claims within a policy year, insurance companies generally reward you with a No Claim Bonus (NCB) annually, which gives you a discount on your renewal premium. But did you know this bonus can reduce the moment you make a claim? With the NCB Protect Add-On, included within your Bajaj Allianz Two Wheeler Insurance policy at an extra premium, your NCB and the associated premium discount remain intact. It safeguards your accumulated NCB even if you make a claim!

3️⃣24x7 Roadside Assistance Add-On
A two-wheeler is a machine made up of many parts and you never know when anything might break down or malfunction. This can be extremely worrying if you’re on a long journey without any help available for miles ahead. Don’t worry, there’s a helpful add-on for such contingencies as well!

The 24x7 Roadside Assistance Add-On, available at an extra premium, is invaluable for riders who frequently go on long journeys. Say your bike undergoes a sudden breakdown, leaving you stranded in the middle of the road. In such cases, all you need to do is ring up your insurer and tell them you need help.

This add-on offers round-the-clock support for various roadside assistance scenarios. It covers services such as -

• Fixing flat tires
• Jump-starting your bike
• Managing breakdowns and electrical issues
• Providing fuel assistance
• Handling electrical or mechanical breakdowns
• Towing your vehicle
• Delivering your repaired two-wheeler
• Urgent relay of messages when needed

And more.

4️⃣Engine Protection Add-On
A two-wheeler’s engine is a complex machine made up of many parts, cogs, and wires. It can veritably be called the heart of the two-wheeler, the key aspect behind its functioning and smooth running.

But, what if something happens to the engine? Will Bajaj Allianz Two Wheeler Insurance cover the costs or any repairs or part replacements?

Yes, with the Engine Protector two-wheeler insurance add-on - available with your policy if you pay an extra premium. Many individuals opt to enhance their standard bike insurance with the Engine Protection Add-On.

The engine protection add-on financially safeguards you against situations like water damage, gearbox issues, lubricant leaks, and more. Furthermore, it provides coverage for the replacement or repair of critical engine components such as pistons, cylinder heads, crankshafts, etc.

Please note: The extent of this add-on’s coverage can vary depending on your location.

5️⃣Consumable Expenses Add-On
The repair or parts replacement of a two-wheeler involves the use of many consumable items like motor vehicle oil, refrigerants, coolants, electrolytes, fluids, nuts, bolts, screws, filters, bearings, washers, clips, and similar components.

Standard two-wheeler insurance policies typically do not cover the costs of consumables. But, when your motor vehicle sustains damage, the Consumables Expenses Add-On steps in to cover various essential consumable items.

Note: This add-on is available at an extra premium.

6️⃣Personal Accident Cover for Pillion Rider
A bike ride often involves riding the roads with a pillion rider or co-passenger. Standard two-wheeler insurance policies generally come with a Personal Accident Cover for the driver, but not the pillion rider.

But, what if something happens to them during an accident? How do you protect them?

Besides your own safety, you are also responsible for the pillion rider travelling with you. The Personal Accident Cover for Pillion Rider comes in handy when the passenger riding with you gets injured in an accident. With this add-on, you can be assured and have the peace of mind that it covers the treatment expenses of your co-passenger or pillion rider in case of an accident.