Policy exclusions
The exclusions are:
Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown, failure or breakages
Any damage to tyres and tubes unless the vehicle is also damaged at the same and the liability of the Insurer will be restricted to 50% of the cost of replacement; and
If the private car is driven by a person who is under the influence of intoxicating liquor or drugs at the time of loss
Driving without a Valid Driving Licence
Using the vehicle for hire or reward, carriage of goods other than samples, racing and other racing related purposes and motor trade purposes
Any accidents outside the geographical area
Monday, October 29, 2007
Key Benefits
Assured Best deals on your Car Insurance
Transfer existing No Claim Bonus (NCB*) ranging from 20%-50%
Cashless claims at over 1500 garages in India.
0% EMI option available if paying by Citibank Credit Card
Instant claims status via sms
Renew your policy online in 3 easy steps logon to www.bajajallianz.com now
Transfer existing No Claim Bonus (NCB*) ranging from 20%-50%
Cashless claims at over 1500 garages in India.
0% EMI option available if paying by Citibank Credit Card
Instant claims status via sms
Renew your policy online in 3 easy steps logon to www.bajajallianz.com now
Claims procedure
All insurance contracts are based on the information provided by the insured in the proposal form. The proposal form forms the basis of insurance contracts.
Some important points, which would help you in the claims procedure.
The loss or damage should be reported to the insurer immediately.
In the event of you needing to make a claim, please call our Customer Service Executives at the following numbers
30305858
(dial your city code if calling from a mobile)
1800 22 5858
Toll free from MTNL/BSNL/Reliance network
1800 102 5858
Toll free from Bharti/Airtel network
Or
SMS "CLAIM" on 9860685858
We will take all the details and if appropriate give you the telephone number and location of your nearest Bajaj Allianz preferred workshop (for cashless claims) and inform you of any further action you may need to take. We are committed to dealing with each claim quickly and effectively
On receipt of claim intimation, the insurer will forward a claim form.
Submit the completed claim form along with an estimate of the loss to the insurer. It is preferable to submit an itemized estimate with separate values.
The insurer will arrange for inspection of the damaged items to assess the loss. In case of major losses, a specialist-licensed surveyor is deputed.
The insured has to provide the required documents to substantiate the extent of loss.
In case the cause of loss is not established, it is for the insured to prove that the loss or damage has occurred due to an insured peril.
On agreement of claim amount between the insured and the insurer, the claim is settled.
Average Clause - As per the Terms and Condition of the Policy ·
Excess as stated as per the Policy terms and condition will be deducted from the claim payable.
Some important points, which would help you in the claims procedure.
The loss or damage should be reported to the insurer immediately.
In the event of you needing to make a claim, please call our Customer Service Executives at the following numbers
30305858
(dial your city code if calling from a mobile)
1800 22 5858
Toll free from MTNL/BSNL/Reliance network
1800 102 5858
Toll free from Bharti/Airtel network
Or
SMS "CLAIM" on 9860685858
We will take all the details and if appropriate give you the telephone number and location of your nearest Bajaj Allianz preferred workshop (for cashless claims) and inform you of any further action you may need to take. We are committed to dealing with each claim quickly and effectively
On receipt of claim intimation, the insurer will forward a claim form.
Submit the completed claim form along with an estimate of the loss to the insurer. It is preferable to submit an itemized estimate with separate values.
The insurer will arrange for inspection of the damaged items to assess the loss. In case of major losses, a specialist-licensed surveyor is deputed.
The insured has to provide the required documents to substantiate the extent of loss.
In case the cause of loss is not established, it is for the insured to prove that the loss or damage has occurred due to an insured peril.
On agreement of claim amount between the insured and the insurer, the claim is settled.
Average Clause - As per the Terms and Condition of the Policy ·
Excess as stated as per the Policy terms and condition will be deducted from the claim payable.
Bajaj Allianz - Policy Coverage
The private car can be used for social, domestic and pleasure purposes and also for business purposes excluding the carriage of goods other than samples by the
insured or his employees.
The Insurer undertakes to reimburse the expenses incurred for
repair/replacement against any loss or damage to the Private Car and its
insured accessories whilst thereon for the following events:
Fire, explosion, self ignition or lightning
Burglary, housebreaking or theft
Riot or strike
Earthquake (fire and shock damage)
Flood typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
Accidental external means
Malicious act
Terrorist activity
Whilst in transit by road, rail, inland- waterway, lift, elevator or air
Land slide, rock slide
The additional Personal Accidents covers available under Private
Car policies
The various PA covers under Private Car policies are:
PA to the Owner Driver
PA to the Paid driver
PA to the Unnamed occupants
PA to the Named occupants
insured or his employees.
The Insurer undertakes to reimburse the expenses incurred for
repair/replacement against any loss or damage to the Private Car and its
insured accessories whilst thereon for the following events:
Fire, explosion, self ignition or lightning
Burglary, housebreaking or theft
Riot or strike
Earthquake (fire and shock damage)
Flood typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
Accidental external means
Malicious act
Terrorist activity
Whilst in transit by road, rail, inland- waterway, lift, elevator or air
Land slide, rock slide
The additional Personal Accidents covers available under Private
Car policies
The various PA covers under Private Car policies are:
PA to the Owner Driver
PA to the Paid driver
PA to the Unnamed occupants
PA to the Named occupants
Policy Exclusions
Under this policy, you are not covered against -
Normal wear, tear and general aging of the vehicle
Depreciation or any consequential loss
Mechanical/ electrical breakdown
Wear and tear of consumables like tyres and tubes
Vehicle being used otherwise than in accordance with limitations as to use
Damage to/ by a person driving the vehicle without a valid license
Damage to/ by a person driving the vehicle under the influence of drugs or liquor
Loss/ damage due to war, mutiny or nuclear risk
Normal wear, tear and general aging of the vehicle
Depreciation or any consequential loss
Mechanical/ electrical breakdown
Wear and tear of consumables like tyres and tubes
Vehicle being used otherwise than in accordance with limitations as to use
Damage to/ by a person driving the vehicle without a valid license
Damage to/ by a person driving the vehicle under the influence of drugs or liquor
Loss/ damage due to war, mutiny or nuclear risk
Sum Insured
The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff.
If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.
If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.
Key Benefits
A digitally signed policy is issued immediately through online facility.
You can claim towing charges up to Rs 1,500 through 24*7 call centers.
Cashless claim settlement at network garages all across India.
Avail of the following bonuses and discounts -
No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.)
Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy to another company.
Additional discounts: You can also avail of additional discounts if you are a member of a recognized Automobile Association in India.
ARAI devices: In case you have installed ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500.
You can claim towing charges up to Rs 1,500 through 24*7 call centers.
Cashless claim settlement at network garages all across India.
Avail of the following bonuses and discounts -
No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.)
Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy to another company.
Additional discounts: You can also avail of additional discounts if you are a member of a recognized Automobile Association in India.
ARAI devices: In case you have installed ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500.
Policy Coverage
Our Motor insurance Policy is governed by the Indian Motor Tariff. It covers you for:
Loss or damage to your vehicle: The policy covers you against any loss or damage caused to the vehicle or its accessories due to the following natural and man made calamities.Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. Man made Calamities – Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.The rates of the vehicle and its parts are subject to depreciation as per the schedule provided by the Indian Motor Tariff.
Personal accident cover: The motor insurance provides compulsory personal accident cover for individual owners of the vehicle while driving. You can also opt for a personal accident cover for passengers.
Third party legal liability: This protects you against legal liability arising due to accidental damages - Permanent injury/ death of a person-Damage caused to the property.
Loss or damage to your vehicle: The policy covers you against any loss or damage caused to the vehicle or its accessories due to the following natural and man made calamities.Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. Man made Calamities – Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.The rates of the vehicle and its parts are subject to depreciation as per the schedule provided by the Indian Motor Tariff.
Personal accident cover: The motor insurance provides compulsory personal accident cover for individual owners of the vehicle while driving. You can also opt for a personal accident cover for passengers.
Third party legal liability: This protects you against legal liability arising due to accidental damages - Permanent injury/ death of a person-Damage caused to the property.
Car Insurance - Introduction
ICICI Lombard brings to you a comprehensive Package Policy for your four-wheelers, which covers Third Party Liability (TPL) for bodily injury and/or death, Personal Accident cover for owner-driver and loss or damage to the vehicle insured (Own Damage or OD).
Insurance Claim Procedure
In case of an accident claim, following documents are to be submitted to the insurance company.
Proof of insurance-Policy
Original and a Copy of Registration Book.
Original and a Copy of Motor Driving Licence of the person driving the vehicle at the material time.
FIR, in case of accident involving Third Party Injury or Damage.
Claim form along with the original estimate of repairs obtained from the workshop.
On submission of these documents the insurance company appoints a surveyor, who inspects the damaged car and verifies the authenticity of the estimate of repairs. The car can be repaired only after the insurance surveyor has inspected it.Submit the final bill for damaged parts that have been replaced and the stamped receipt for payment made to the workshop. Once the car has been repaired, you need to make the payment as per the final estimate and submit the final estimate and stamped receipt to the insurance company for settlement of the claim. The repaired car is surveyed again by an insurance surveyor and only then you can take delivery of your car.In case your car is stolen, you need to inform about the theft to the nearest police station and your insurance company immediately. You also have to intimate about the stolen car and missing documents to the concerned registering authority where the car was initially registered. Obtain a duplicate RC Book from the RTO office immediately In case of theft, the procedure for the insurance claim is similar to the accident claim, however, in case of theft the settlement of insurance claim takes longer as the RTO and the police is given a reasonable period of time to recover the stolen vehicle.
Proof of insurance-Policy
Original and a Copy of Registration Book.
Original and a Copy of Motor Driving Licence of the person driving the vehicle at the material time.
FIR, in case of accident involving Third Party Injury or Damage.
Claim form along with the original estimate of repairs obtained from the workshop.
On submission of these documents the insurance company appoints a surveyor, who inspects the damaged car and verifies the authenticity of the estimate of repairs. The car can be repaired only after the insurance surveyor has inspected it.Submit the final bill for damaged parts that have been replaced and the stamped receipt for payment made to the workshop. Once the car has been repaired, you need to make the payment as per the final estimate and submit the final estimate and stamped receipt to the insurance company for settlement of the claim. The repaired car is surveyed again by an insurance surveyor and only then you can take delivery of your car.In case your car is stolen, you need to inform about the theft to the nearest police station and your insurance company immediately. You also have to intimate about the stolen car and missing documents to the concerned registering authority where the car was initially registered. Obtain a duplicate RC Book from the RTO office immediately In case of theft, the procedure for the insurance claim is similar to the accident claim, however, in case of theft the settlement of insurance claim takes longer as the RTO and the police is given a reasonable period of time to recover the stolen vehicle.
Transfer of Insurance Policy
In case you purchase a used car, you can transfer the existing insurance policy to your name by informing the insurance company within 14 days from purchasing the car.
Renewal of Insurance Policy
The insurance policy has to be renewed within the period of validity. Any delay in the renewal of the policy renders the policy invalid and you will not be able to avail any benefit of the policy. Also, driving without a valid insurance policy is a legal offence. No Claim BonusYou are eligible for a discount in the premium of a comprehensive insurance policy at the following rate:
20% for the 1st year.
35% for the 2nd year.
50% for the 3rd year.
65% for the 4th year and afterwards
The value of the discount depends upon the insurance claims you have made in that particular year.This discount is adjusted against renewal premium. You can avail the no claim bonus when you renew your policy. In case your policy expires, you can still avail the no claim bonus if you renew the policy within 90 days of its expiry.Incase you are buying a new car you can transfer the no claim bonus from the policy of your old car to the new one.You need to intimate the insurance company in case you sell your car and you are eligible for the no claim bonus. The no claim bonus is adjusted against the premium of a new car, if the purchase is made within a period of three years.
20% for the 1st year.
35% for the 2nd year.
50% for the 3rd year.
65% for the 4th year and afterwards
The value of the discount depends upon the insurance claims you have made in that particular year.This discount is adjusted against renewal premium. You can avail the no claim bonus when you renew your policy. In case your policy expires, you can still avail the no claim bonus if you renew the policy within 90 days of its expiry.Incase you are buying a new car you can transfer the no claim bonus from the policy of your old car to the new one.You need to intimate the insurance company in case you sell your car and you are eligible for the no claim bonus. The no claim bonus is adjusted against the premium of a new car, if the purchase is made within a period of three years.
Comprehensive Insurance Policy
A comprehensive insurance policy includes:
Third party cover.
Loss / Damage to vehicle as a result of an accident, fire or theft.
Risks against floods, earthquake, riots and strikes.
Accessories like music system, air-conditioner, etc. can also be covered by paying additional premium.
Risk of loss/damage while in transit by road, rail, watercraft, air, elevator, etc.
The insurance policy is valid for one year. It becomes effective from the moment the payment of premium is received by the insurance company, and ends at midnight, exactly a year later.The insurance policy can be obtained through an insurance agent or a development officer of the insurance company. Usually, the new car dealer is also an insurance agent. The insurance premium depends on the car's value, the engine power, its seating capacity, and the value of other accessories like the air-conditioner.
Third party cover.
Loss / Damage to vehicle as a result of an accident, fire or theft.
Risks against floods, earthquake, riots and strikes.
Accessories like music system, air-conditioner, etc. can also be covered by paying additional premium.
Risk of loss/damage while in transit by road, rail, watercraft, air, elevator, etc.
The insurance policy is valid for one year. It becomes effective from the moment the payment of premium is received by the insurance company, and ends at midnight, exactly a year later.The insurance policy can be obtained through an insurance agent or a development officer of the insurance company. Usually, the new car dealer is also an insurance agent. The insurance premium depends on the car's value, the engine power, its seating capacity, and the value of other accessories like the air-conditioner.
Car Insurance
Legally, no motor vehicle is allowed to be driven on the road without valid insurance. Hence, it is obligatory on your part to get your vehicle insured. There are two types of motor vehicle insurances - "Act Only Risk - Motor Policy A" (also known as third party risk) and "Motor Policy B" (also known as comprehensive insurance policy). Although legal requirement is met by Motor Policy A, it would be sensible on your part to go for comprehensive insurance policy.Motor Policy 'A' (Act Policy)Policy A covers risks required to be covered under the Motor Vehicles Act. It is mandatory that every car owner be covered against Act Risks under Section 146 of Motor Vehicles Act 1988.The scope of cover is to pay compensation for death of or bodily injuries to third parties and damage to the property of third parties. While the Insured is treated as the first party and the Insurance Company second party, all others would be third parties. For private vehicles and cars, the 'Act Only Policy' covers third party property damages only upto Rs. 6000/-. Fire and theft risk can be covered by paying additional premium.
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