BAJAJ BIKE INSURANCE

About Bajaj Auto Limited

Bajaj Auto Limited is one of the most respected and well-known global companies from India, recognized as a leader in the production of two-wheelers and three-wheelers. Established in 1945, the company has grown to become a prominent motorcycle manufacturer globally and a market leader in the three-wheeler segment in India.
Bajaj Auto operates in more than 70 countries, making it one of the most prominent Indian automobile manufacturers. Its commitment to innovation, quality, and affordability has solidified its position as a pioneer in both the Indian and global automotive industry.

Bajaj Two Wheeler Insurance

Bajaj two-wheeler insurance is a comprehensive plan that provides financial coverage for two-wheelers. It is primarily offered by Bajaj Allianz General Insurance, a joint venture between Bajaj FinServ Limited and Allianz SE.

Key Characteristics of Bajaj Two Wheeler Insurance

• Personal Accident Cover: Provides compensation for the owner-driver in case of accidental injury, disability, or death while riding the vehicle.
• Long-Term Policy: Offers long-term plans (up to 3 years) that avoid the hassle of annual renewals and ensure continuous coverage.
• No-Claim Bonus: Premium discounts are available for claim-free years, encouraging responsible riding. Ideal for riders with a good claim-free history.
• Cashless Garage Network: Access to a vast network of cashless garages for hassle-free repairs.
• Quick Claim Settlement: Bajaj Allianz is known for its quick claim processing and minimal paperwork.
• 24/7 Customer Support: Round-the-clock assistance for claims, renewals, and inquiries, with hassle-free online claim filing and minimal documentation.

Types of Insurance Policies for Bajaj Bikes

1. Third-Party Bike Insurance for Bajaj Bikes
   Riding a Bajaj bike without third-party insurance is illegal and can lead to fines. As per Indian law, third-party insurance is mandatory for all Bajaj bikes. It covers damages to third-party property, injuries, or death.
   Third-party bike insurance is cost-effective compared to comprehensive policies, making it accessible for all bike owners. It's particularly useful for older Bajaj bike models where own-damage coverage may not be economical.
2. Comprehensive Insurance Policy for Bajaj Bikes
   A comprehensive policy offers full coverage for the vehicle as well as third-party liabilities.
   It compensates for damage to your two-wheeler caused by accidents, theft, natural disasters (like earthquakes, floods), or man-made disasters such as riots or vandalism.
3. Own Damage Cover for Bajaj Bikes
   A standalone own damage cover insurance policy for Bajaj bikes is designed to cover damages to your bike, offering financial protection and peace of mind. It's especially useful if you already have third-party liability insurance and want additional protection for your bike.

Why Purchase Bike Insurance for Bajaj Two Wheelers?

Purchasing bike insurance for your Bajaj two wheeler is essential for various reasons as:

Legal Requirement: Under the Motor Vehicle Act, it is mandatory in India to reduce the number of accidents. Riding a bike without insurance can result in legal action or fines.

Economic Security: Bajaj bike insurance, whether third-party or comprehensive, covers damages or injuries caused by your two-wheeler. It also covers accidents, theft, fire, or natural disasters.

Peace of Mind: Knowing that you're financially protected from unexpected expenses gives you peace of mind.

No-Claim Bonus (NCB): If you don't make any claims during the policy term, you can earn a discount on premium renewals, saving money in the long run.
Having Bajaj two-wheeler insurance ensures that your bike is protected against unforeseen events while also providing you with legal and financial protection.

Bike Insurance Premium for Bajaj Bike Variants

The premium for Bajaj insurance is contingent on the bike’s model, version, and horsepower of the engine.

Sr.No	Model Name	Third Party Insurance Price
1	Bajaj Avenger Street 150	Rs. 714
2	Bajaj Avenger Street 220	Rs. 1366
3	Bajaj Dominar 400	Rs. 2804
4	Bajaj Pulsar 180F	Rs. 1366
5	Bajaj Platina	Rs. 714
6	Bajaj Discover	Rs. 714
7	Bajaj CT 100	Rs. 714

** these prices are indicative

Insurance premiums vary based on several factors such as:

• Insured Declared Value (IDV)
• Year of manufacture
• Rider’s age and driving history
• Add-ons picked (e.g. zero depreciation, roadside assistance)

You can estimate the premium by visiting the website of any bike insurance provider or contacting their customer care service.

How to Buy Bike Insurance Online for a Bajaj Bike

Follow these simple steps to insure your Bajaj two-wheeler online:

1. Visit the website: https://quickinsure.co.in/two-wheeler-insurance
2. Enter your bike's registration number, model, RTO, NCB, and manufacturing year in the form, and select a policy plan to determine the premium. Click on the ‘Continue’ button.
3. Select the right bike insurance add-ons based on your needs and budget.
4. Fill in your personal details (Full Name, Mobile Number, Email ID, Pincode, etc.) and authenticate via OTP sent to your registered mobile number.
5. Complete the payment using UPI, debit/credit cards, or net banking for secure checkout.
6. Once completed, you'll receive a soft copy of the policy document via email.

Key Aspects to Verify After Bajaj Bike Insurance Purchase

• IDV (Insured Declared Value): Ensure it reflects the bike's current market value.
• Claim Settlement Ratio: A higher ratio indicates better services.
• Add-on Covers: Check if opted add-ons like roadside assistance or engine protection are added.
• Policy Renewal Options: Choose insurers that offer easy renewal processes.

How to Claim Two-Wheeler Insurance for Bajaj Bikes
It’s simple to claim cashless insurance for your Bajaj bike. Follow these steps for a hassle-free experience:

1. Notify the Insurer Immediately
   To report the incident (accident, theft, or damage), contact the insurer’s customer service or helpline. Provide all necessary details such as policy number, incident date, time, location, and a description of the loss or damage.
2. Report an FIR (if necessary)
   File a First Information Report (FIR) at the nearest police station for serious accidents, theft, or third-party damages. Keep a copy of the FIR for your claim process.
3. Visit a Network Garage
   Access an authorized Bajaj bike network garage. The list of network garages is available on the insurer’s mobile app or website. Make sure your bike is taken to the network garage for repairs.
4. Prepare Paperwork
   Keep the following documents ready:
   • Policy certificate
   • Vehicle Registration Certificate (RC)
   • FIR (for theft or serious accidents)
   • Claim form (available at the garage or online)
5. Surveyor Inspection
   The insurance company may send a surveyor to assess the damage at the network garage.
6. Approval and Repairs
   Once the surveyor approves the claim, the garage will begin repairs. The insurance will pay the garage directly, except for:
   • Deductibles
   • Depreciation
   • Non-covered costs (e.g., consumables)
7. Claim Negotiation
   After repairs, pick up your bike from the garage. Ensure you obtain repair invoices and payment receipts for your records.

For quick claim processing, you can use the insurer's app or helpline. Always check the network garage coverage and policy terms to ensure smooth claims.

Insurance Renewal Process for Bajaj Two Wheelers
You can renew your Bajaj bike insurance online by following these steps:

1. Visit Quickinsure.
2. Enter your bike’s registration number and insurance details.
3. Choose the desired policy type.
4. Evaluate the premium amount.
5. Pay online using UPI, debit/credit card, or net banking.
6. Your insurance policy copy will be emailed to you.

To avoid fines and inspections, ensure you renew your policy before it expires. Most insurers send reminders by phone, email, or SMS. If your policy has expired, the insurer may conduct a physical inspection. Premiums and coverage may change based on the inspection.

Insurance Add-Ons for Bajaj Bikes
You can enhance your coverage by adding supplementary options when you buy or renew insurance for your Bajaj bike. Popular add-ons include:

• Zero Depreciation Cover: Increases the claim amount, especially beneficial for new bikes, as it covers the full cost of repairs or replacements.
• Engine Protection Cover: Covers engine repairs due to water penetration, oil leakage, or mechanical breakdowns. Ideal for bikes used in flood-prone or extreme weather areas.
• 24/7 Roadside Assistance: Provides emergency support like towing, minor repairs, fuel delivery, and help with flat tires.
• Personal Accident Cover: Extends coverage to the pillion rider for accidental injuries or death.
• Consumable Cover: Covers the cost of consumables like engine oil, nuts, bolts, and materials typically excluded from standard policies.
• No-Claim Bonus: Helps you retain your NCB discount on premiums, even after making a claim.
• Key Replacement Cover: Covers the cost of replacing lost or damaged keys.
• Tyre Protection Cover: Covers damage to tyres caused by punctures, bursts, or cuts.

Be mindful that each add-on might increase your insurance premiums, but the enhanced coverage typically justifies the additional cost.

For more details, consult your insurance provider or visit their official website.

FAQs

Is it mandatory to have insurance for Bajaj bikes?

Yes, in India, it is mandatory to have insurance for all Bajaj bikes as per the Motor Vehicles Act, 1988.

Which Add-ons should I buy with comprehensive insurance for my Bajaj Bike?

You can think of the following add-ons while purchasing comprehensive insurance for your Bajaj bike like Zero Depreciation, Roadside Assistance, Engine Protection Cover, Consumable Cover, Key replacement Cover, Tyre Protection Cover.

Where can I buy an insurance policy for my Bajaj Bike?

You can purchase an insurance policy for your Bajaj bike through various online portals provided by insurers such as ICICI Lombard, Bajaj Allianz, HDFC ERGO, New India Assurance, and TATA AIG.

Which insurer has the best claim settlement ratio for Bajaj bikes? 

In India, insurers with a strong claim settlement track record include National Insurance, Liberty General Insurance, TATA AIG, and more. However, Bajaj Allianz is often considered one of the top insurers in terms of claim settlement ratio.