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FAQ for Bajaj Allianz Car Insurance Policy
1. In India, Car Insurance is mandatory?
Yes, In India car insurance is mandatory for many reasons, the first and foremost being the rising number of road accidents in India. Motor Vehicle Act, 1988 states that every owner-driver is legally required to carry car insurance.
2. What is a No Claim Bonus in car insurance?
No Claim Bonus refers to the reward that your insurance company gives you for not filing a single claim throughout the policy period.
3. Is comprehensive car insurance mandatory in India?
No, comprehensive car insurance is not mandatory in India. However, it is always advised to purchase comprehensive car insurance cover third party insurance.
4. What is the best way to keep track of any changes to my car insurance policy?
Any changes to the policy relating to personal information, vehicle structure, or usage will be accomplished through an Endorsement. Depending on the sort of change sought, you may or may not be required to pay an additional premium.
5. Do I have to notify my car insurance company if I install an LPG/CNG system after purchasing a policy?
Yes. The addition of an LPG/CNG kit to your vehicle is a significant alteration, and we must be informed of this as soon as possible.
6. If my car insurance coverage has already expired, how do I renew it?
Car insurance can be obtained even if your policy is no longer valid.
7. Is it obligatory in India to obtain a car insurance policy?
Car insurance is required in India under the Motor Vehicle Act of 1988. In India, you must have at least third-party car insurance.
8. When do I need to purchase commercial car insurance?
If you use or operate a business vehicle with a gross vehicle weight (GVW) of less than 3500 pounds, you must purchase commercial car insurance.
9. Is it necessary to renew my automobile insurance policy every year?
Yes, most insurers will offer 12-month car insurance coverage. As a result, you'll need to renew your car insurance every year. You may also acquire vehicle insurance online and save money on premiums, paperwork, and time.
10. In a car insurance policy, what is an Insured Declared Value?
The value of a car is reflected in the insured declared value.IDV is calculated using the manufacturer's suggested retail price plus depreciation based on the vehicle's age. IDV decreases with age, therefore the cost of car insurance for a new car will be more than for an older vehicle.
11. What is a No Claim Bonus, and how does it work?
There is no claim bonus is a reduction in the insurance company's own damage premium. This incentive will only apply if the policyholder has not made a single claim during the duration of the car insurance policy. Only at the time of policy renewal are you eligible for an NCB.
12. What happens if I want to change insurance companies then my NCB is affected?
In your new insurer's new car insurance, the next slab of an NCB will be allowed. This policy is subject to a no-ownership transfer, there was no claim in the preceding policy, and the previous policy was active for the whole 1-year term. With NCB, you may compare estimates and benefits of getting the best vehicle insurance coverage.
13. Why should you buy car insurance coverage from Bajaj General online?
It is advantageous to acquire a car policy online in India because there are numerous policies to pick from. Buying online also saves you time and money, and you will reap additional benefits.
14. Who is Bajaj Insurance's third-party insurance administrator?
The Vipul is Bajaj third-party insurance administrator. This company offers a simple and speedy approach.
15. Will Bajaj Insurance allow policyholders to make cashless claims?
Yes,Bajaj will allow policyholders to make a cashless claim at a network garage or showroom.