Bajaj Allianz Private Car Package policy

At a Glance

Owning a car has become more affordable these days. It is the service and maintenance of it that has become expensive and costs the owner in the long run; especially if the car is damaged due to some unavoidable circumstances or in an accident. Our Private Car Package Policy is designed keeping in mind all such situations so that your car is protected when you need it the most.

There are several reasons to choose Bajaj Allianz Car Insurance:

key features

Product Features-

Section 1: Own Damage We will cover the accidental loss or damage to your car 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.

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 car.

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 in your car, we will pay the specified Sum Insured to you/ your legal heir.

Key Inclusions-

1. Loss due to natural calamities - We may not have the power to prevent them but we will cover your car against naturally occurring calamities such as fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.
2. Loss Due to Man-Made Calamities - Man-made calamities reveal the dark side of humanity but we will help lessen the blow by covering your car against burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity and any damage during transit by road, rail, inland waterway, lift, elevator or air.
3. Personal Accident Cover - Your car is precious, yes, but so are you. The Personal Accident cover provides coverage of ₹ 15 lakh to the owner-driver of the car while driving or travelling and while mounting or dismounting. Optional personal accident cover for passengers and paid driver is also available.
4. Third Party Legal Liability - If you happen to be involved in an accident that results in damage to property or loss of life of a third party individual, we help you cover the legal obligations arising from it.

Key Exclusions-

1. Depreciation - Normal wear and tear and general ageing of the vehicle and consumables like tyres and tubes is not covered. Neither is depreciation or any consequential loss.
2. Influence of Substances - We promote safe driving and hence, any damage caused to the vehicle by a person driving it under the influence of substances like liquor or drugs is not covered.
3. Invalid license - Since getting your wheels on the road without a valid license is illegal, we too do not cover damages caused by a person driving the vehicle without a valid license.
4. War, Mutiny or Nuclear Risk - Just like in a zombie apocalypse, the situation during war, mutiny and nuclear risk, is chaotic and uncontrollable and any damage to your car during such events is not covered.

Optional Covers

Extensions- Can also opt for the following extensions as part of Private Car Package Policy:

1. Loss of Accessories
2. Legal Liability to Paid Driver, Cleaner or any Workman
3. Personal Accident Cover for the Occupants.

Add On Covers

Add-ons are additional features or benefits you add to your car insurance to make it more extensive. The add-on covers you add only decrease any financial burden you are likely to incur at the event of an accident or a calamity. At the same time, the more the add-ons you include in your policy, the higher the premium you have to pay. For the most ideal four wheeler insurance, we recommend you adding features that are value additions to your policy. Let’s look at some of the add-ons we offer

1. Zero Depreciation - is this an add-on you could add to your car insurance policy. To understand what zero depreciation is, let’s first look at depreciation. Cars are highly valuable until you purchase. From the time you purchase, your car is subjected to depreciation, which means that it is losing its value in the market as it gets older. Not just the car but the spare parts powering your car as well. That is why older cars have a low pricing in the market than their recently-purchased counterparts. With the zero depreciation cover add-on, what you are basically doing is nullifying the depreciation associated with your car. This means that your car, technically, does not lose value in the market as the depreciation of your car is not considered by your insurer. As per assistant cover incurs the most expensive premium and is worth every penny shelled. We highly recommend this add-on especially if your car is less than 5 years old.

   Features

   Depreciation shield for the spare parts

2. Engine Protector - Engine is one of the most crucial parts of a car. Unfortunately, however, the expenses you incur on the damages to your car’s engine is not covered under standard car insurance policies. Being one of the most expensive parts for servicing, you end up spending more to recover your car’s engine from a malfunction or an accident. That’s why the engine protector add-on is the most ideal solution to feature in your insurance policy. It covers expenses arising due to water ingression, hydrostatic lock and more. This helps you save up to 40% of the amount you would spend on getting your car’s engine fixed.

   Features

   Protection against damages to engine and engine parts

   Protection against damages to differential parts

   Protection against damages to gear box and gear box part

3. 24/7 Spot Assistance - One of the most helpful add-ons for your car insurance, this ensures you are never stranded on the road due to any concern associated with your car. Our team is just a call or a click away to assist you or get to you to help you deal with a car situation regardless of where you are stuck in India. So, no matter if you have to get a tire changed, or have an expert look into need assistance in settling an accident, you can reach out to us at any time and we will be there by your side in a very short duration.

   Features

   Pan India Coverage

   Spot Assistance for diverse car situations

4. Key And Lock Replacement - Car keys are some of the most misplaced items in the world. From forgetting them at a restaurant to losing them at your own home, car keys are easily overlooked. Sadly, there are expenses involved in getting new keys for your cars as it’s not just the key that has to be replaced but the entire locking system as well. That’s why this add-on is here to reduce the expenses you are likely to incur because of misplaced or lost keys. We take care of the entire purchasing and replacing of your car’s lock and keys.

   Features

   Expense coverage on key replacement

   Expense coverage on lock replacement

5. Consumable Expenses - Like we said, buying a car and maintaining a car are two different things. There are frequent expenses involved when it comes to the maintenance of your car. From servicing spare parts to replacing them, there are expenses surrounding your car all the time. And we are not even talking about the different types of car oils that need to be changed every now and then and during an accident. With the consumable expenses coverage, you can let us take care of the expenses involved in the use of consumables at the time of acci

   Features

   Consumables expenses involving

   Engine oil

   Brake oil

   Coolant

   Gear box oil and more

6. Personal Baggage - A car is your personal and private safe where you leave your belongings inside until your work outside is done. Laptops and expensive gadgets or money worth of valuables, you keep materials inside your car very frequently.

   But this is not without its threat, where it is subjected to instances like thefts and burglaries especially when you leave your car in less populated avenues or remote places. That’s why the personal baggage add-on protects your personal belongings and covers the loss you incur because of accident

   Features

   Indemnification for damage to personal baggage

   Indemnification for loss of personal baggage

7. Conveyance Benefit - Another highly convenient add-on, where we take care of the little yet significant concerns you are likely to face in your everyday life post an accident. When your car is getting repaired in a garage and after your claim is accepted by us, this add-on paid from us for your everyday commute. With this, you don’t have to worry about burning a hole in your wallet for the daily cab or transportation charges It is accident repairs and being claimed

   Features

   Conveyance for your everyday commute

8. VPAY - Industry’s first game changing add-on cover that can simplify motor insurance related worries like never before. This new age cover offers 360° coverage and umbrella protection for all motor own damage needs of Insured vehicles. It will liberate you from not only answering numerous questions asked at the time of claim but will also free from the hassles of choosing an array of add-ons to protect your private car. An add-on cover that provides a balanced solution for the vehicle insured catering to both conventional risks, addresses emerging risks and increasing cost of ownership. Under the Own Damage section of V-PAY, we are offering two plans to customers: Elite and Classic cover. VPAY plans offer below unique benefits such as:

   Features

   A one-time smart repair option enables car owners to address minor damages in one visit.

   Protection for the vehicle's digital sense devices, especially with the rise of connected cars and advanced driver assistance system (ADAS).

   Waiver of compulsory deductible.

   Cyber Risk Protection for software issues, cyber extortion, and theft of funds resulting from cyber-attack.

   Safeguard of electric and hybrid vehicles from damages caused by power surge, explosion, water ingress, and short circuit.

   Coverage of mechanical and electrical breakdowns that are not a result of accidents, which are typically excluded from standard motor insurance policies.

   Repair cost in case of vehicle towing and retrieval

   Covering damages if the vehicle is left unattended on the accident spot.

   Covering accessories and CNG fitment if customers forgot to declare during the policy

Key Things You Should Know

Discounts- Discounts are available under Private Car Package Policy for:

1. Claims Free Experience
2. Opting Voluntary Excess
3. Membership with Approved Automobile Associations
4. Installing approved Anti-Theft Devices

Premium Rating Factors

1. Insured Declared Value (IDV)
2. Geographical Zones
3. Age of the Vehicle
4. CC Of the Vehicle

Insured Declared Value

1. Insured Declared Value = Current Ex-Showroom Price (-) Depreciation as per the age of vehicle
2. For Old vehicle IDV will be Current Ex-Showroom Price (-) Depreciation as per the age of vehicle:-

For more details https://www.bajajallianz.com/download-documents/motor-insurance/car-insurance/car-Policy-wording.pdf

Disclaimer

Bajaj Allianz Pvt Car Package Policy is an IRDAI approved product with UIN: IRDAN113RP0025V01200102, which is underwritten and serviced by Bajaj Allianz General Insurance Co. Limited. This brochure is not a contract of Insurance. Please refer policy document for exact terms and conditions and specific details applicable to this Insurance. Your participation in this insurance product is purely on a voluntary basis. We advise you to take your own professional advice before you participate.

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Bajaj Allianz General Insurance Company Limited (IRDA of India Regn.No.113) CIN: U66010PN2000PLC015329 having the Registered office address at Yerwada Pune - 411006. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Pvt Car Package policy by Bajaj Allianz with UIN: IRDAN113RP0025V01200102, is underwritten by Bajaj Allianz General Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. ISNP registration valid.

The contents and product information of this web site are given strictly for your convenience and is indicative in nature and ‘as is’ received from the Insurer. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance. Bank does not guarantee that this website reflects latest amendments/ information at all times or at any time. Bank shall have no liability to the customer for any loss or damage of any kind incurred for reliance on the content and product information available on this website.

For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. Tax benefits are available as per the prevailing tax laws, which are subject to change.

Contact our 24-hour toll free customer service helpline number 1-800-209-4555 / 1-860-267-1234 or our overseas customer service number 91-44-66854555 or write to us at [email protected]. Visit us at: www.dbs.com/in

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