Claims Process:
a) Call Our Toll Free No. 1-800-209-5858
b) Submit completely filled Claim Form at the nearest Bajaj Allianz
General Insurance Office
Disclaimer: The above mentioned information is only indicative in nature.
For details of the coverage and exclusions, please refer to the Policy
Wordings.
Policy Period
Policy Period for this policy can be either Two years or Three Years.
Premium
• Rates for Third Party Premium will be as prescribed by IRDA.
• To get an estimate of the premium payable for your two-wheeler,
kindly fill up the Long Term Two-wheeler Package Policy Proposal
Form. Based on the information furnished, we shall inform you of the
premium amount to be paid.
Cancellation
A. Cancellation due to Total Loss (TL) of the Vehicle
i. Liability premium to be refunded in full for the unexpired period
ii. Own Damage (OD) premium to be refunded as per below table
Policy Period Policy period in Refund Rate
which TL has occurred
2 years Not exceeding 12 months 40% of OD premium
Exceeding 12 months 0% of OD premium
Not exceeding 12 months 60% of OD premium
3 years Exceeding 12 months but 30% of OD premium
not exceeding 24 months
Exceeding 24 months 0% of OD premium
B. Cancellation by Insurer
The Company may cancel the policy by sending seven days notice by
recorded delivery to the insured at insured's last known address and
in such event will return to the insured the premium paid less the pro
rata portion thereof for the period the Policy has been in force. Under
normal circumstances, Policy will not be cancelled except for reasons
of mis-representation, fraud, non-disclosure of material facts or non-
cooperation of the Insured
C. Cancellation by Insured
The policy may be cancelled at any time by the insured on seven days'
notice by recorded delivery and provided:
I. In case of no Claim
The insured shall be entitled for premium refund at the
Company's Short Period Scale provided in table below. Where the
ownership of the vehicle is transferred, the policy cannot be
cancelled unless evidence that the vehicle is insured elsewhere is
produced.
% of Premium Two Years Policy Three Years Policy
to be refunded
80% Not exceeding 4 months Not exceeding 6 months
70% Exceeding 4 months but Exceeding 6 months but
not exceeding 6 months not exceeding 9 months
60% Exceeding 6 months but Exceeding 9months but
not exceeding 8 months not exceeding 12 months
50% Exceeding 8 months but Exceeding 12 months but
not exceeding 10months not exceeding 15 months
40% Exceeding 10 months but Exceeding 15 months but
not exceeding 12 months not exceeding 18 months
30% Exceeding 12 months but Exceeding 18 months but
not exceeding 14 months not exceeding 21 months
20% Exceeding 14 months but Exceeding 21 months but
not exceeding 16 months not exceeding 24 months
10% Exceeding 16 months but Exceeding 24 months but
not exceeding 18 months not exceeding 27 months
0% Exceeding 18 months Exceeding 27 months
ii. If case of partial loss claim
a. For Two Years Policy period:
• If the request for policy cancellation is received in first year, we
shall refund 30% of the premium.
• If the request for policy cancellation is received in second year,
no premium refund shall be made.
b. For Three Years Policy period:
• If the request for policy cancellation is received in first year, we
shall refund 50% of premium.
• If the request for policy cancellation is received in second year,
we shall refund 10% of premium.
• If the request for policy cancellation is received in third year, no
premium refund shall be made.
A policy can be cancelled only after ensuring that the vehicle is
insured elsewhere, at least for Liability Only cover and after surrender
of the original Certificate of Insurance for cancellation.
Other Conditions
All other conditions which are not specifically mentioned in the policy
document will be as per Indian Motor Tariff (IMT) 2002 and premium
charged for the same shall be 2 times or 3 times of the annual rate of
Two Wheeler Package Policy for 2 years policy or 3 years policy
respectively.
Short Period Scale
BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.
BAJAJ ALLIANZ HOUSE, AIRPORT ROAD, YERAWADA,
PUNE - 411006. IRDA REG NO.: 113.
FOR ANY QUERY (TOLL FREE)
1800-209-0144 /1800-209-5858
www.bajajallianz.com
Policy holders can download Insurance Wallet for one -touch access Available on:
For more details on risk factors, Terms and Conditions, please read the sales
brochure before concluding a sale.
CIN: U66010PN2000PLC015329 | UIN: BAL-MO-P16-65-V01-15-16
BJAZ-B-0243/15-Feb-19
CIN: U66010PN2000PLC015329 | UIN: BAL-MO-P16-65-V01-15-16
BAJAJ ALLIANZ
LONG TERM
TWO WHEELER
PACKAGE POLICY
ONE LESS THING TO REMEMBER
Optional Extensions
By paying an additional premium, You can also opt for the following
extensions as part of Long Term Two-Wheeler Package Policy:
1. Loss or damage to electrical and non electrical Accessories
2. Personal Accident Cover for the insured and any named or unnamed
passengers
3. Legal Liability to Paid Driver, Cleaner or any Workman
Exclusions
We will not be liable to pay for the following cases:
1. Any accidental loss damage and/ or liability caused sustained or
incurred outside the Geographical Area.
2. Any Claim arising out of any Contractual Liability.
3. Any accidental loss damage and/or liability caused sustained or
incurred whilst the Vehicle insured herein is:
a. Being used otherwise than in accordance with the Limitations as
to Use or
b. Being driven by or is for the purpose of being driven by him/her in
the charge of any person other than a Driver as stated in the
Driver's clause.
4. a. Any accidental loss or damage to any property whatsoever or any
loss or expense whatsoever resulting or arising there from or any
consequential loss
b. Any liability of whatsoever nature directly or indirectly caused by
or contributed to by or arising from ionising radiation or
contamination by radioactivity from any nuclear fuel or from any
nuclear waste from the combustion of nuclear fuel. For the
purposes of this exception combustion shall include any self-
sustaining process of nuclear fission.
5. Any accidental loss or damage or liability directly or indirectly caused by
or contributed to by or arising from nuclear weapons material
6. Any accidental loss damage and/or liability directly or indirectly or
proximately or remotely occasioned by or contributed by or
traceable to or arising out of or in connection with War, Invasion, the
Act of foreign enemies, hostilities or Warlike operations (whether
before or after declaration of war), Civil War, Mutiny Rebellion,
Military or usurped power or by any direct or indirect consequences
of any of the said occurrences and in the event of any claim
hereunder the Insured shall prove that the accidental loss damage
and/or liability arose independently of and was in no way connected
with or occasioned by or contributed to by or traceable to any of the
Bajaj Allianz
Bajaj Allianz General Insurance Company Limited is a joint venture
between Bajaj Finserv Limited (recently demerged from Bajaj Auto
Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and
strength. This joint venture company incorporates global expertise with
local experience. The comprehensive, innovative solutions combine the
technical expertise and experience of Allianz SE, and in depth market
knowledge and good will of Bajaj. Competitive pricing and quick honest
response have earned the company the customer's trust and market
leadership in a very short time.
Long Term Two Wheeler Package Policy
You have invested your valuable time and efforts in selecting your dream
two-wheeler. We understand that you would also like to ensure protection
for your vehicle against unforeseen eventualities. Our Long Term Two-
Wheeler Package Policy has been designed to ensure that your two-
wheeler is protected when you need it the most. Moreover, with having
options of Policy Period as Two years and Three Years, you can get more
convenience out of this policy.
With this policy, there is no need to renew your Two Wheeler Package
Policy every year up to the period of three years and the Insured will also be
protected from any upward revision of the premium rates.
Scope of Cover
Section 1: Own Damage
We will cover the accidental loss or damage to your two-wheeler caused
by any of the following:
Fire, explosion, self ignition or lightning; Burglary housebreaking or theft;
Riot and 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;
Landslide/rockslide.
Policy may be issued covering the vehicle for the restricted Liability Only
with Fire and /or Theft risks only.
Section 2: Liability to Third Parties
We will cover your legal liability arising out of bodily injury to and/or
property damage of third parties caused due to an accident involving your
two-wheeler.
Section 3: Personal Accident Cover
In the unfortunate event of your (owner-driver) death and/or permanent
total disability arising out of an accident while traveling on your two-wheeler,
we will pay the specified Sum Insured to you/your legal heir.
AGE OF VEHICLE % OF DEPRICIATION
FOR FIXING IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%
IDV of vehicles beyond 5 years of age and of obsolete models of the
vehicles (i.e. Models which the manufacturers have discontinued to
manufacture) is to be determined on the basis of an understanding
between the insurer and the insured.
IDV shall be treated as the 'Market Value' throughout the Policy Year as
provided in the Policy Schedule without any further depreciation for the
purpose of Total Loss (TL) / Constructive Total Loss (CTL) claimsThe
insured vehicle shall be treated as a CTL if the aggregate cost of retrieval
and / or repair of the vehicle, subject to terms and conditions of the policy,
exceeds 75% of the IDV of the vehicle.
Deductible
a. Compulsory Deductible: The Company shall not be liable for each
and every claim under Section - 1 (Loss or Damage to the Vehicle
Insured) of this policy in respect of the deductible stated in the policy
schedule.
b. Voluntary Deductibles: Insured may opt for higher deductible over
and above the compulsory deductible in which case suitable discount
will be allowed as per the following table:-
NCB Slab
Policy term NCB (in %) No Claim One Claim Two Claims Three Claims More than
of the at the time during during during during three Claims
Expiring of inception the Policy the Policy the Policy the Policy during the
Policy of Policy Period Period Period Period Policy Period
% of discount on Own Damage Premium
2 Years 0 35 25 0 0 0
20 45 35 25 0 0
25 50 45 35 0 0
35 50 45 35 0 0
45 50 45 35 0 0
50 50 45 35 0 0
3 Years 0 45 35 25 0 0
20 50 45 35 25 0
25 50 45 35 25 0
35 50 45 35 25 0
45 50 45 35 25 0
50 50 45 35 25 0
NOTE:
i. Maximum NCB that can be earned by an Insured is 50%
ii. An Insured becomes entitled for NCB only at the time of renewal of
policy after the expiry of the full duration of the Policy.
Voluntary Deductible Discount on OD Premium
Rs. 500 5% on the OD premium of the two wheeler
Rs. 750 10% on the OD premium of the two wheeler
Rs. 1000 15% on the OD premium of the two wheeler
Rs. 1500 20% on the OD premium of the two wheeler
Rs. 3000 25% on the OD premium of the two wheeler
ii. For Vehicles having IDV more than Rs. 75000, the below table will be
used for options of voluntary deductibles and respective discounts.
Voluntary Deductible Discount on OD Premium
Rs. 500 5% on the OD premium of the two wheeler
Rs. 750 10% on the OD premium of the two wheeler
Rs. 1000 15% on the OD premium of the two wheeler
Rs. 1500 20% on the OD premium of the two wheeler
Rs. 3000 25% on the OD premium of the two wheeler
Rs. 4000 30% on the OD premium of the two wheeler
Rs. 6500 35% on the OD premium of the two wheeler
Rs. 10000 40% on the OD premium of the two wheeler
Rs. 15000 45% on the OD premium of the two wheeler
No Claim Bonus
NO CLAIM BONUS (NCB)
The Provisions in respect of NCB for this Long Term Policy shall be as
follows:
i. NCB Entitlement (in %) at the time of inception of Policy
a. For Expiring Policy having Policy Period as 1 year- NCB will be
same as per existing provisions as mentioned in GR 27 of Indian
Motor Tariff 2002.
b. For Expiring Policy of other insurance companies having Policy
Period more than 1 year- NCB will be calculated on the basis of
following table:
NCB (in %) Eligibility NCB (in %) to be
as per Expiring Policy transferred to this Policy
0 0
0.01- 20.00 20
20.01 - 25.00 25
25.01-35.00 35
35.01-45.00 45
>45.00 50
ii. NCB Entitlement (in %) at the time of Policy Expiryi. For Vehicles having IDV upto Rs. 75000, the below table will be used
for options of voluntary deductibles and respective discounts:
said occurrences or any consequences thereof and in default of such
proof the Company shall not be liable to make any payment in
respect of such a claim.
Sum Insured - Insured's Declared Value (IDV)
The Insured's Declared Value (IDV) of the vehicle will be deemed to be the
'SUM INSURED' for the purpose of this policy which is fixed at the
commencement of each policy period for the insured vehicle.
The IDV of the vehicle (and side car / accessories, if any, fitted to the vehicle)
is to be fixed on the basis of the manufacturer's listed selling price of the
brand and model as the insured vehicle at the commencement of
insurance / renewal and adjusted for depreciation ( as per schedule below ).
The schedule of age wise depreciation for fixing IDV at the time of
commencement of the policy, as shown below is applicable for the
purpose of Total loss / Constructive Total Loss (TL / CTL) claims only.
Discounts Offered Under The Policy
S. No. Feature Discount %
1. Voluntary Deductible Details Provided Above
2. Discount for 2.5% discount on OD premium
Anti Theft Devices subject to maximum of Rs. 1000 and
Rs. 1500 for policies having tenure
as 2 years and 3 years respectively
3. Automobile Association 5% discount on OD premium subject
Membership Discount to maximum of Rs. 100 and Rs. 150
for policies having tenure as 2 years
and 3 years respectively
4. Concession for Specially 50% discount on OD premium
Designed / Modified
Vehicles for the Blind,
Handicapped and
Mentally Challenged
Persons
5. Discount for Side 25% discount on OD premium
car attached
