Need of Insurance for Pharmaceutical Industry

One of the imperative industries which face the complex range of risk is the Pharmaceutical Industry. Nowadays, the huge risk and major challenges faced by the Pharmaceutical Industries include counterfeiting and intellectual properties, and product recalls owing to the increase in the outsourcing and enhanced efficiency involved to save cost and maintain quality. Product safety is one of the important and top priorities of these pharmaceutical companies. Faulty drugs not only lead to reputation damage but may also cost the life of the people. Other issues include System Crisis in Healthcare, Strict Legal Environment, Sophisticated Supply Chain, Increase in the Distribution Cost, Growing Regulation and Intense Competition in the market.

Therefore, there is a need for a professional, sophisticated risk management program and tailored insurance cover for this industry. It is a must for the pharmaceutical industry to opt for an insurance company that not only has the knowledge and expertise to support them but also have the financial strength to provide major capacity and worldwide resource to provide immediate help in case of a claim. The policy offered by this company must be efficient enough to cover the worldwide operations of the clients and particularly expertise in clinical trials liability insurance, and at the same time offer specialist cover around the world ranging from single studies to multi-location research program. Today, there are many insurance companies which are expertise in this specialist industry and are dedicated to offer enhanced service to their customers.

The reason to opt for this pharmaceutical insurance policy is that it provides a tailored solution to the clients (be they pharmaceutical producers, distribution companies or research centres). The policy covers specialist property, liability covers (including the clinical trials liability insurance), supply chain risk management and marine cargo solutions. It also covers property damage which includes physical damage from natural calamities such as windstorms, earthquakes, flooding etc.

The insurance provides pharmacy insurance, professional indemnity, clinical trials, policy wording specifically designed to provide broad cover, drug licences, manufacturing of product, errors and omissions, avoiding malpractice, financial exposures, requirements for licence agreements, contract issues, product and medicine recalls.

Before selecting the insurer, it is also essential to consider that the insurance company you select understands all the legality and potential exposures you face especially when you are in a high-risk pharmaceuticals industry. The company with the backing of a leading team of legal professional’s experience and index specialist knowledge can give you the best possible advice on risk management and the insurance.

It is a wise thing to take the risk, without it there is no room for your business to grow. But it is also important to connect to a broker that helps to empower you to embrace your risk.

Aadhaar linking with insurance policies-several advantages for policyholders?

Even as government has announced the timeline to link Aadhaar details with financial services from 31st December 2017 to 31st March 2018

-policholders needs to mandatory do it before the end of this financial year. Earlier the Insurance Regulatory and Development Authority of India (Irdai) had announced to link Aadhaar with insurance policies. There are several concerns raised by many people on compulsory linkage of Aadhar with financial products. But, advantages outweigh the apprehensions as policyholders might reap the final benefits of this exercise.

Is it only for insurance policies?

No, in the recent past we have seen government making it mandatory for consumers to link many important services with Aadhaar. Customers might be getting frequent reminders to link their banks account, mutual fund and mobile number with Aadhaar. Recently, the Reserve Bank of India also clarified that it is mandatory to link bank accounts with Aadhaar. With this linking of Aadhaar, fake claims arising in insurance sector might come down which could eventually benefit policyholder. Even the government claims to have removed millions of fake beneficiaries for government benefits by Aadhaar linking. As reported in various media, over 22-23 million fake ration cards have been scrapped, potentially saving the government Rs14,000 crore in food subsidy every year. While three states discovered that about 2.7 lakh fake students were availing the mid-day meal (MDM) scheme due to the Aadhaar.

Impact of linking Aadhaar with insurance policies and its advantages

Insurance regulator had stated that linking of Aadhaar number to insurance policies is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. As said earlier linking of Aadhaar with insurance policies has numerous benefits like cleaning out duplications and fake policies and provides accurate data. It is very important to note that, insurance frauds have cost industry over Rs 10,000 crore annually, suggest the figures. Linking of Aadhaar with financial services will help eradicate fake accounts and fake insurance policies.

In Indian insurance industry there are many fraudulent activities like accounts opened with fake signatures or duplications in PAN. Due to the surge in such activities there are many areas in state like Gujarat, Karnataka and Haryana where insurance companies take utmost care while giving a policy. With this linking of Aadhaar, such duplicity will reduce, and fake claims might come down for industry which could eventually benefit policyholder. Apart from this issue, many times insurance companies face problems while paying out the claims or when the policy gets matured. Policyholder sometimes forgets to update the change in address or bank accounts which would result is non-payment of claims. This exercise will ensure that, maturity proceeds are directly transferred to the banks account of the policyholder when policy gets matured.

Few obstacles in the process

On the flip side, there are many arguments that, linking of such services will lead to having all information on an individual at a single place, which could make surveillance easier and increase the risks if this information is hacked. However, with direction from the regulator, policyholders needs to complete the procedure in time as insurance companies will require Aadhaar linkage, during renewals or during claims registrations.  The insurer can also keep in waiting the claim payments until the linkage and authentication has been completed. So, it is advised for policyholders to complete the process at the earliest to avoid any future difficulties while getting the maturity proceeds.

The Aadhaar linking is applicable for all the life as well as non-life insurance companies. This move will create a combined platform for all the financial services and also strengthen government’s digitization initiative. Though, the procedure may be tiring initially, but in the long run will provide unprecedented benefits by preventing fraudulent acts and streamlining all the KYC process.

Process to link Aadhaar with your insurance policies

As discussed above in the article, linking insurance policy with the 12-digit unique identification number is compulsory now. The insurance regulator has made Aadhaar and PAN/Form 60 linking mandatory for availing any financial service. Irdai has directed all the insurance companies to link the new and existing insurance policies to the Aadhar number, without any delay. Failing to complete the procedure may propel insures to hold the claim until the linking is complete. However still there is no clarity on this issue. There are three ways to link Aadhar with an insurance including online, offline and text messaging.

Linking through online mode

This is most convenient and easy way to link your insurance policy with Aadhaar.

Step 1: For registered users (who are paying premiums online) they should visit the insurance company’s portal.

Step 2: Give the exact Aadhaar details as mentioned by the insurance companies, re-check the number and submit

Step 3: One time password will be generated on the Aadhar registered mobile number, put the password and Aadhar will be linked with the policy

However for policyholders who are not registered, they just need to give extra details like PAN, date of birth, e-mail id, policy number and Aadhaar number in the Step 2. All the other steps remains same.

Linking through offline mode  

For any reason if you can do online linking, here how you can link your policies offline. One needs to have, Aadhaar or PAN mandate form, self-attested copy of Aadhaar card and PAN Card or Form 60and policy number. To get the form you can get in touch with our representative at Probus or can download from the website of insurance companies. After filling the form, you can submit this Aadhaar / PAN Mandate Form along with a self-attested copy of Aadhaar card and PAN Card / Form 60 at the nearest Branch or at Probus office for linking your policies. A self attested copy of Aadhaar needs to be furnished to complete the process.

A Tale of ‘No Home Insurance’

KKM Mahesh is a retired government officer, currently residing with his children in Bangalore. He has a beautiful house in Chennai, built over a period of time by the couple, with their life long savings.

Mahesh didn’t want to leave the house lying vacant so has let out half of it as a means to cover up those recurring house expenses.

In fact, the floods which swept Chennai last year did not really affect his house and he was grateful for that. He believes he took a very prudent decision buying his retirement ‘Dream House near the sea and away from the busy central areas of Chennai.

His friend Guruprasad who owns a similar house close by had recently purchased a home owners packaged policy for Rs.1cr. He explained to Mahesh the benefits of the policy, which were as below –

Package policy – Home Insurance

Structure including contents

Sum assured – Rs. 1,00,00,000
Premium/year – Rs. 25,000

This included furniture, electrical items like fridge, television and other gadgets, jewellery, kitchen appliances, other general items and even boundary walls and fences. The policy allowed the contents to be covered for 5 years and structure for 10 years at a stretch.

Guruprasad suggested Mahesh should buy a similar cover for his house. But being a person who thought twice before spending every rupee, Mahesh felt those few thousands were just waste of money. Guess, he was a bit too off mark.

It was during Cyclone Vardah that the need for Home Insurance cover dawned on him.

With the cyclone landing in Chennai, in a matter of few days, the surroundings of his house turned from the beautiful flora to mud and debris. The trees came crashing into the house and all his prized possessions lost their worth. Life came to a standstill!

Gosh! How could he be so myopic in his outlook towards the greater benefits of a Home Owners Packaged Insurance? Under present circumstances, the insurance company paid out sum assured upto the damages incurred (Rs.50Lacs) to his friend Gururprasad while Mahesh had to search for ways to finance the restoration of his house and its contents.

He wondered, only if he had taken the home insurance policy, he would have been at peace of mind today.

14 Tips for Safe Driving In Winter

In India, fog is known to be the most difficult weather condition to drive in. Visibility is down to a few metres in the peak months of December January and mid February.

Moreover, taking side turn is the trickiest aspect of driving, making it practically a blind spot. The whole of North India faces poor visibility due to fog during mornings and evenings, in an already short day.

Few practical aspects you must keep in mind while driving in winter, especially foggy conditions-

1. Drive with fog lamps and low beam headlights – Before driving, ensure that you have proper working fog lamps. The best part about fog lamps is that the light is thrown straight on the road due to the low position of the lamps, reducing the chances of reflection. Further, always use low beam headlights as high beams will reflect back on you.

2. Cars with Reflective tapes and torch lights – Reflective tapes are stuck on the front and back of the car and are visible from atleast 50 metres even in dense fog. This helps vehicles apply brakes on time, whether they are coming from rear or front. Keeping a long beam torch or multipurpose torch in the car can help in managing emergency situations.

3. Clear your windshield and windows of existing fog – Ensure that you clean them of all the fog before starting your drive as foggy windshield is very risky to drive with.

4. Check the weather reports – Check for the weather predictions, in case you are planning to drive long distance. Also inform a friend or relative about the direction you are heading. Further, always be cautious on bridges and overpasses as they are commonly the first areas to become icy.

5. Never change lane – Foggy weather conditions are like playing blind. You never know what will happen in the next second. Hence never ever change lanes while driving, unless necessary and blow horns repeatedly while doing so.

6. Keep safe distance from the front car – Maintain good distance from the car driving ahead of your car. In case you have to take a turn, do keep indicator lights on, as this can be life saving for you as well.

7. Do not stop car mid way while driving – Fog enveloped road is not a good place to stop your car mid way. This can lead to chain reaction of accidents involving the rear cars. In case you have lost way, find a suitable point where you can park your car aside with parking lights on.

8. Maintaining speed and using cruise control – Speed limits of normal weather don’t apply in winter, especially in fog filled weather. Over speeding or jumping red lights is also not a prudent decision. And in case you are driving on icy roads, never move your car to cruise control as you would want a better control on the car.

9. Snow blocking the exhaust pipe – There is a danger of carbon monoxide poisoning if snow blocks the exhaust pipe and can lead to deadly gas build up in your car. Open your window slightly to help prevent the build-up.

10. Applying brakes on slippery surfaces – Know how to apply brake on slippery surfaces. Vehicles with anti-lock brakes operate much differently from those that do not have anti-lock brakes.

11. Avoiding mobiles while driving – Many drivers have the habit of checking mobiles on a slow moving traffic. Avoid the temptation to check your mobile as all your attention should be on arriving safely.

12. Drunk driving – There is a tendency to drink and drive during winter which can increases the chances of a fatal accident, especially on fog filled days.

13. Carry Sufficient fuel – Maintain enough fuel in the tank to keep the car cabin warm, in case you are stuck outside in the cold weather.

14. Highway and expressway driving – Keep all your vehicle indicators on while driving on the highways and express lanes.

Do remember – We might take optimum precaution while driving but in the eventuality of a fatal accident, car insurance won’t be a sufficient cover for your health and life.

Ensure that you have a good personal accident and health cover in place to take care of your medical needs. Also have an adequate life cover in place which can financially support your loved ones, when you are no more.

1

4G ULIPs are here! How to invest to Best Plans – Here’s all you need to know

According to a latest UN report, India has the world’s largest youth population despite having the smaller population than China. India is also termed as “Young Country”, while half of the population is under 25 and two-thirds are under the age of 35 years. It is also projected that this population would probably reach to comprise almost 2/3rd of our total population by 2021. Also, India is likely to have the world’s largest workplace by 2027 with a billion of people between the age group of 15 to 64 years. Additionally, it is expected that by 2020, the average age in India will be 29 and it is set to become the world’s youngest country with 64% of its population in the working age group.

These are the troops of people who believe living their lives by their own set of rules and highly passionate towards following their dreams. Therefore, when it comes to investment options for this young section of people, the insurance industry needs to roll up their sleeves and come with better options that can attract this millennial crowd.

New Age ULIPs or Enter NULIP’s are also termed as 4G ULIPs. This ULIPs offer more flexibility than the traditional ULIPs and come at a comparatively lower cost. The premium allocation charges are least and the fund management goes from 1.35% for pure equity funds to 0.95% for debt funds. The other additional features include zero premium allocation and zero policy admin charge and the mortality cost of the life cover also gets covered on maturity.

Now the important and most common question that lights the mind of these millennial is how to invest in a 4G ULIP. This investment plan is ideal for people in the age group between 25 to 45 years owing to its long-term investment. Adding cherry to the cake, this insurance is readily available online and be bought at just one click.

In addition to this, there are two different ways of investing in a 4G ULIP plan. The first one is annual premiums and the second one is systematic investment plans.

The 4G ULIPs works on the concept of rupee cost averaging which means that the cost at which you purchase the units of a fund are averaged. So in this case, the down the market is, the more units you should buy and if the market is up than the lesser unit one should buy.

Whereas talking about the annual premiums, the only fallback with this premium is that one might not be able to take advantage when the market is low as the payment done would be a lump sum amount.

Also, for the one who cannot invest a lump sum amount, he or she has an option of going with the monthly premium payment mode wherein the market fluctuations would be averaged out.

The 4G ULIPs plans are considered to be one of the optimum investment options in the current market scenarios because ULIPs features options wherein investors can switch between equities and debt irrespective of the SIP or Annual Premium. This shifting can be done even during the first 5 years of compulsory lock-in and you are recommended to utilize these benefits for your advantage by switching funds on the basis of the market status.

Family Health Insurance

Top 7 Benefits of Renewing your Two-Wheeler Insurance on Time

Two-wheelers are one of the majorly used vehicles especially in the metropolitan cities where traffic is a major concern. People use two-wheeler not only for personal use but also for various commercial purposes. Maybe it a weekend travel with buddies or daily commuting to work, two-wheelers are the most preferred options. Two-wheelers are one of the best companions for Indians when it comes to saving time and money. However, people often neglect or forget to renew their two-wheelers against natural or man-made calamities which might end up with lots of unpleasant expenses during any unforeseen mishaps. Renewing your insurance on time is the best way to keep your two-wheeler secured.

As per the Motor Vehicles Act, 1998 it is illegal to ride a two-wheeler without having a valid insurance policy. Out of the total two-wheelers running down the lane of the country only 25% are insured while the other 75% are never renewed which is a matter of major concern. Vehicle owners need to understand the importance of timely renewal of the policy as it not only ensures continuity in cover but also offers you a sense of security.

Below mentioned are Top 7 benefits of renewing your two-wheeler insurance on time:

Security against Natural Perils

Life is unpredictable and you never know what unforeseen situation might come your way. Renewing your two-wheeler insurance on time would aid you in saving your heavy expenses that may incur due to any natural perils. Your two-wheeler insurance policy would bear the huge cost of repairing the damages caused due to natural calamities like Earthquake, Cyclone, landslide, self-ignition, fire etc.

Protection against Man-made Calamities

Renewing your two-wheeler insurance from time-to-time could be a silver lining of economic recovery during any man-made disaster such as strike, war, burglary, theft or any accidents. It covers the replacement charges or service cost whichever is compulsory as per the situation.

Access to various perks

In case if the insured person has not made the claim even once during the policy term, he/she is eligible to avail the benefits of NCB (No Claim Bonus) on the premium amount. One of the major pros of renewing the insurance policy on time is that you can get the perks of NCB and at the same time the policy is renewed at a lower premium. If you fail to renew your policy on time or if there is any kind of break in the policy period than you might be deprived of these perks.

Add-on covers

While renewing your insurance policy you are given a chance to select any desired cover from the various options available which you might have missed adding while purchasing the policy. Some of the add-on covers include zero depreciation cover, personal accident cover for unnamed hirers or pillion riders and covers for loss of accessories.

You can change your policy term

While you are renewing your policy it is possible to change the term of the policy i.e. you can renew the policy for 1, 2 or 3 years as per your requirement. The term of the plan is directly proportional to the discounts or benefits you get i.e. the greater the term of the insurance plan the higher would be the benefits.

Gives you peace of mind

Timely renewal of insurance makes you financial equipped during any mishap which can attain you peace of mind. It assures that you are safe when interrogated by the traffic police and also covers injuries caused during the accident. Moreover, having the Insurance makes you remain on the right side of the law.

Protection of Legal Interest

Renewal of your insurance policy assures that you are covered for any legal proceedings in case your two-wheeler is involved in any road accident causing any damage or injury to a third-party property or person.Renewing your insurance on time ensures that your obligations as an owner of the two-wheeler are fulfilled. In case of unforeseen situations, the cover provides monetary assistance to the insured person.

General Insurance Company

Don't pay hefty penalty. Renew car insurance in just 5 mins.

Vehicle registration number is required. Invalid registration number.Sample: DL-01-KY-3053
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Future Generali General Insurance

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Previous Insurer is required.
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Future Generali General Insurance

The difference between driving safe and driving secure Your car is your pride, a source of joy and your delightful getaway from the mundane life. Imagine if something untoward happens to your car? Behind the wheels, you are a careful driver. However, your car’s safety is not only in your hands. With us, you choose not only a reliable partner but a fast and secure experience for your car.

Benefits

Quick turnaround time & total reliability of service makes this product ideal for you

Instant Policy
Get policy instantly with cashless/direct settlements

Helpline
Customer service and claims registration with Helpline numbers

Renewal Reminder
Automated renewal reminder service

Accident Help
Get towing assistance (within city limits only) for accidents

Quick Surveys
Claims survey is quick

7 Days, All Done
Just 7 working days for claims finalization

Features

Motor Add-ons
You can now opt from a range of comprehensive additional covers on payment of a nominal premium. Come discover how much we take care of you. Be safe. Be assured. Know More

Roadside Assistance
Stranded on the road or met with an accident? Why should such mishaps stop you? Our Roadside Assistance is at your service 24×7. Know More

Future Xpress & Xpress+
A simplified process to offer you a more personalised service at the same time smooth and speedy claims settlement.

Coverage

Car Damage
In the event of ordinary losses/damages to your car, regardless of who is at fault and where the accident took place, a wide variety of cases, from broken windows to theft or destruction is covered.

Personal Accident Cover
A compulsory Personal Accident cover of Rs. 1 lakh is available for individual owners of the car while driving (Available only if the owner of the car holds a valid driving license). You can also opt for a Personal Accident cover for passengers (Named or un-named) up to a maximum amount of Rs. 2 lakhs per person.

Third Party Liability
Any legal liability that you may incur due to the death of or bodily injury to a third party or damage to the property of a third party while using your car, is covered. The policy also covers the legal expenses you might incur to defend this claim. This is a mandatory insurance coverage for your car.

Additional Legal Liabilities
The following additional legal liabilities may also be opted for at an additional premium –

Paid driver/conductor/cleaner employed in operation of the car.

Employees travelling in/driving the car other than paid driver.

Non-fare paying passengers

Bharti AXA General Insurance

Vehicle registration number is required. Invalid registration number.Sample: DL-01-KY-3053
Previous Insurer is required.
Previous Policy Number is required.
Old quotation number is required. Invalid quotation number.Sample: PIBLMTRTW000000000000000

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Bharti AXA General Insurance

Customizing your car insurance as per your needs for superior protection got a lot easier with Bharti AXA GI. We provide you with customized recommendations for motor add-ons specifically suited to your needs based on details pertaining to your vehicle age, make and model among several factors. We understand that each customer is unique with a precise set of needs.

We therefore enable you to choose the right add-ons by not just recommending them but also explaining in a transparent and simple manner how each recommended add-on can benefit you. Our goal is to ensure that you select and combine the right add-ons with Bharti AXA’s comprehensive car insurance so that you have full protection at the time of a claim. Whether it’s coverage for fender benders, keeping your ‘No claims bonus’ intact, protection for your engine from water ingress or maybe just tow-away assistance, we have it all.

With the help of our customized recommendations you can choose from a host of add-ons designed to protect you in practically all kind of situations you may encounter.

Over and above the advantages of our comprehensive motor insurance offering all customers enjoy the benefits of our large cashless network of over 2300 garages pan India irrespective of the plan opted for. In addition we also offer 24×7 claims assistance, an easy claim settlement process and a No Claims Bonus (NCB) up to 50% on car insurance renewal from Bharti AXA GI or any other insurance provider.

After a quick description of our Basic insurance cover given is a list of some commonly used motor insurance add-ons most of our customers benefit from.

Basic Insurance Cover

Cover includes comprehensive car insurance

By fire explosion self-ignition or lightning

By burglary housebreaking or theft

By riot and strike

By earthquake (fire and shock damage)

By flood typhoon hurricane storm tempest inundation cyclone hailstorm frost

By accidental external means

By malicious act

By terrorist activity

Whilst in transit by road rail inland-waterway lift elevator or air

By landslide rockslid.

Third Party Liability (if some third party files a claim against you for injury or damage to their car or property)

Personal Accident cover for the driver offering a compensation of up to Rs. 2 lakhs in the event of death/permanent total disablement arising from car accident

Our Add-ons

Depreciation cover Typically under standard comprehensive motor policy, in case of a claim, the insured receives an amount that is subject to depreciation. He/she therefore receives an amount lower than the actual repair expense. With Depreciation cover the insured receives the depreciation amount deducted on the value of the parts replaced. This is applicable for up to 2 admissible claims.

Hydrostatic Lock Cover Driving or even parking your vehicle in a water-logged area can expose it to the risk of water entering its engine. In such a situation in case you even turn on the ignition key you can cause massive engine damage. Further, your insurance company is likely to consider this damage as a consequential loss and will not cover it. Hydrostatic lock cover covers damage to the engine on account of water entering it and is particularly useful in areas of high rainfall and frequent flooding.

No Claims Bonus Protector You get a No-Claim Bonus (NCB) for every claim free year. This NCB slab increases for every claim free year and can go up to 50%. One single claim reduces your NCB to zero. NCB protector cover protects your NCB up to two claims during your policy period. It is particularly recommended for NCB accumulation of over 25%.

Roadside Assistance A vehicle break down in the middle of nowhere can be very traumatic. Finding tow-away or a mechanic to help can be an exhausting ordeal. Roadside assistance cover provides assistance for on road repair relating to minor breakdowns, towing your car to the nearest garage, changing of a flat tyre, replacing lost keys and arranging for emergency fuel.

Key Features of Depreciation Cover

100% repayment on the depreciated parts at the time of claim settlement

Avail repairing costs of fiber glass, rubber, tyres, batteries, air bags, nylon, and plastic parts.

Vehicle is not more than 5 years old from the date of purchase (i.e. month and year of manufacturing).

The company shall pay the Depreciation amount deducted on the value of the parts replaced for upto 2 admissible claims * under Section I of the policy.

Inclusions

Loss or damage to the insured vehicle due to:

Fire/Earthquake/Flood/Cyclone

Accident/Terrorism/Riots/Strikes

Accident by external means

Transit by road, rail, inland waterways, air or lift

Personal Accident Cover for Owner-Driver Compensation for death or death sustained by the owner or driver of the insured car due to a violent, accidental, external and visible means while travelling in the vehicle or during mounting into/dismounting from the car.

Third Party Bodily Injury Liability Bharti AXA General Insurance will take care of the compensation for damages or liability that causes bodily injury or death to another person following a car accident.

Property Damage Liability Compensation for damage or liability to other’s property will be taken care of by Bharti AXA General Insurance, subject to the limits mentioned in the policy.

Exclusions

Common wear and tear of the vehicle

Loss or damage due to depreciation of vehicle

Electrical & mechanical breakdown

Loss or damage due to depreciation of vehicle

Loss or damage incurred outside the geographical area of India

Loss or damage caused when driving under intoxication

Loss or damage caused by an unauthorized person without a valid driving license

Loss or damage due to nuclear risks

Vehicle being used otherwise than in accordance with restrictions as to use

TWO-WHEELER INSURANCE PLAN

Let go of all concerns of liability, theft and accident and enjoy an untroubled worry free ride with Bharti AXA GI’s Two Wheeler Insurance. Our product gives you access to a vast pan India cashless network constituting over 2,000 garages. Enjoy benefits of 24×7 claims assistance and the convenience of hassle free claim settlement process.

Get a No Claims Bonus (NCB) of up to 50% on your two wheeler insurance renewal even if it’s from another insurance provider. So wait no more and pick from two tailored options to fulfil your two wheeler insurance requirements now!

Basic Insurance Cover

Provides comprehensive two wheeler insurance( covers you when your bike sustains damage due to an accident, fire or is stolen,)

Third Party Liability (Kicks in case of a claim against you for injury or damage to third party person(s), vehicle or property)

Get additional discounts on your online two wheeler insurance premium with Voluntary Deductible.

Basic Insurance Cover + Personal Accident Cover

All benefits of Basic Insurance Cover

Personal Accident Cover for both passengers of the two wheeler (rider and pillion rider) that provides a compensation of Rs. 1 lakh per rider in the event of death/permanent total disablement arising from two wheeler accident

Inclusions

Your bike insurance policy would cover the following:

Loss or damage to the insured vehicle due to :

Fire/Earthquake/Flood/Cyclone

Accident/Terrorism/Riots/Strikes

Accident by external means

Transit by road, rail, inland waterways, air or lift

Personal Accident Cover for Owner-Driver Compensation for death injury/death sustained by the owner-driver of the insured car caused due to violent, accidental, external and visible means while travelling in the vehicle or during mounting into/dismounting from the car.

Third Party Bodily Injury Liability Compensation for damage or liability causing bodily injury or death to another person will be taken care of by Bharti AXA General Insurance.

Property Damage Liability Compensation for damage or liability to other’s property will be as per legal proceedings, subject to the limits mentioned in the policy.

Exclusions

Your bike insurance policy excludes:

Common wear and tear of the vehicle

Loss or damage due to depreciation of vehicle

Electrical & mechanical breakdown

Loss or damage incurred outside the geographical area of India

Loss or damage caused when driving under intoxication

Loss or damage caused by an unauthorized person without a valid driving license

Loss or damage due to nuclear risks

Vehicle being used otherwise than in accordance with restrictions as to use

Bajaj Allianz General Insurance

Vehicle registration number is required. Invalid registration number.Sample: DL-01-KY-3053
Previous Insurer is required.
Previous Policy Number is required.
Old quotation number is required. Invalid quotation number.Sample: PIBLMTRTW000000000000000

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bajaj allianz general insurance

You rely on your vehicle for complete freedom of movement. Motor insurance sustains your freedom by compensating your major claims which can otherwise be very expensive. You love taking long drives and commuting to office with the radio on. Your vehicle is one of your most important possessions. Give it the care and protection it deserves with Bajaj Allianz motor insurance.

Private car insurance or two-wheeler insurance by Bajaj Allianz provides unmatched care and protection for your motoring experience.

Motor insurance is one of the things you need against expensive costs like a breakage or third party claims.

Motor insurance is an important thing to consider even before buying a car.

It also rewards you with a multiplier benefit in case you don’t claim in the policy. The multiplier benefit doubles the sum insured in 2 claim free years!

Buy Car Insurance Online with Bajaj Allianz

Your car insurance policy is the most important document in your vehicle because it protects you against financial loss and legal issues. Millions of car owners across India trust us to insure their car since we provide package policies that would protect them against physical damage, bodily injury / death and cover against third-party liability, bringing them security and peace of mind. All this is backed by our advanced claims servicing capability and fast settlement record for vehicles insured with us.

  • Cashless settlement at over 4000 preferred garages.
  • Hassle free claim settlement.
  • Quick and easy online purchase process.
  • 24×7 claims support.

Key Benefits of Motor Insurance with Us

Instant online policy issuance and renewal in easy steps.

Cashless claims at over 1500 preferred garages. 75% on account payment when cashless facility is not available.

To locate a Bajaj Allianz’s Preferred Garage nearest to you call us at: 1800-209-0144 (Toll Free).

Transfer your existing No Claim Bonus from any insurance provider ranging from 20% – 50%.

Instant claims assistance and SMS updates on your motor claim status through our 24×7 call-centers.

Towing facility in an event of a breakdown/accident 24×7 service by phone or online-even on holidays.

Bajaj Allianz’ preferred workshops give you access to hassle-free inspection, high service standards and cashless settlement of claims in event of an accident/breakdown.

What is Covered?

Loss or Damage to your car and two-wheeler against Natural Calamities
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.

Loss or Damage to your car and two-wheeler against 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.

Personal Accident Cover
Coverage of Rs.1 Lakh for the individual owner/driver of the vehicle while driving or travelling, mounting or dismounting from the two wheeler. Optional personal accident covers for co-passengers available.

Third Party Legal Liability
Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.

What is Not Covered?

Normal wear and tear and general ageing of the vehicle

Depreciation or any consequential loss

Mechanical/ electrical breakdown

Wear and tear of consumables like tyres and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement

Vehicles being used otherwise than in accordance with limitations as to use

Damage to/ by a person driving any vehicles 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

Three Different Plans to Choose From

OptionsBest ValueStandard PlanFlexible Plan
Premium CostLowLowLow
CoverageRegularRegularRegular
Own Damage PremiumEnhancedEnhancedEnhanced
Basic Third Party Liability
PA-Cover for Owner/Driver
Coverage for Electrical accessoriesOptionalOptionalOptional
Coverage for Non-Electrical accessoriesOptionalOptionalOptional
PA-Cover for co-passengerOptionalOptionalOptional
CNG Kit CoverageOptionalOptionalOptional
Driver CoverOptionalOptionalOptional
NCB DiscountOptionalOptionalOptional
Voluntary Deductible - Save PremiumOptionalOptional
Depreciation Shield
Engine Protector
24/7 Roadside Assistance

TWO-WHEELER INSURANCE PLAN

Buy Two Wheeler and Bike Insurance Online Your two-wheeler gives you a sense of freedom and our Bajaj Allianz two-wheeler insurance policy has been designed to keep you secure. Our two wheeler package policy provides complete protection to your bike or scooter against physical damage, theft and third party liability.

With your two wheeler insurance, you get:

Hassle-free claim settlement

Quick and easy steps to purchase bike insurance online

24×7 claim support

Key Benefits of Two Wheeler Insurance with Us

Buy/renew your two wheeler or your bike insurance online in easy steps.

Transfer up to 50% of your existing No Claim Bonus from any bike insurance provider.

Avail our 24×7 telephonic service for claims support and other assistance, even on holidays.

Instant claims assistance and SMS updates on your claim status through our 24×7 call-centers.

Bajaj Allianz provides you hassle-free inspection process thereby offering you a high service standard with two wheeler insurance

What is covered?

Loss or damage to your two wheeler against natural calamities:
Your bike insurance policy covers fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.

Loss or damage to your two wheeler against 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 is covered by two wheeler insurance.

Personal Accident Cover:
With bike insurance, get coverage of Rs.1 lakh for the individual owner/driver of the vehicle while driving or travelling and mounting or dismounting from the two wheeler. Optional personal accident covers for pillion riders / unnamed hirers are available with our two wheeler insurance.

Third Party Legal Liability:
Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.

Exclusions

Normal wear and tear and general ageing of the vehicle.

Mechanical/electrical breakdown.

Vehicles 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.

Loss or damage to accessories by burglary, house breaking or theft unless the vehicle is stolen at the same time.

Wear and tear of consumables like tyres and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement.

THIRD-PARTY MOTOR INSURANCE PLAN

In order to keep moving, it is essential to have your vehicles insured. We cover your legal liability towards third parties for personal injury, death and property damage from any accident involving your vehicles. Your motor insurance with us brings to you confidence and peace of mind.

Bajaj Allianz offers “Liability only” Policies for commercial vehicles across the various classes of vehicles like goods carrying vehicles – private and public carrier, passenger carrying vehicles, miscellaneous and special types of vehicles.

What is covered under "Liability only" Policy to Third Parties?

Covers the legal liability for injury, death, and/or property damage caused to a third party in the event of an accident caused by or arising out of the use of the vehicle.

Death or bodily injury to a third party

Damage to third party property

Personal Accident Cover For Owner-Driver

Accidental Death

Permanent Total Disability