Comprehensive Insurance

Comprehensive insurance is the ideal way to protect your car from every unforeseen risk every time you are on the road. While a third-party insurance only handles the repair bills of others, you should have an insurance plan that helps you cover personal damages along with legal liabilities. This is where comprehensive insurance in the Private Car Package Policy and Two Wheeler Package Policy from Bajaj General Insurance becomes your  safety net.

It protects your car from every type of danger on the road, from accidents and theft to fire, and even natural disasters. Therefore, you can prevent a moment of bad luck from becoming a lifelong financial burden.

A comprehensive insurance coverage is a type of motor insurance that is a combination of third-party liability insurance and own damage insurance. Therefore, it not only maintains your legal compliance but also ensures your vehicle is protected from every man-made and natural disaster. For instance, floods, cyclones, earthquakes, riots or vandalism.

In fact, this isn't all; you can also enhance the coverage benefits with a variety of add-ons, including zero depreciation cover, engine protector, return to invoice cover, and more.

Who Should Buy Comprehensive Motor Insurance?

Comprehensive insurance for a vehicle is beneficial to everyone who wants to give their two or four-wheeler an all-around protection. However, here is the list of people who must get this motor insurance.

New Car Owners

Purchasing a new car is the result of years of savings and financial investment. This is why comprehensive insurance coverage becomes necessary to get complete financial protection from all kinds of risks, not just third-party claims.

People Staying in Metropolitan Cities

People living in metropolitan cities are more exposed to high risks and congested roads. In fact, the repair charges are also higher here than in rural areas. Therefore, the ideal way to be financially protected from any type of damage under such scenarios is comprehensive insurance.

Expensive Car Owners

The owners of expensive cars such as BMW or Rolls Royce have to pay higher repair charges due to their exclusivity than regular cars. Apart from that, these cars are an easy target for theft. This is the reason owners of these cars can’t overlook comprehensive insurance for reducing their financial burden in case of damage or theft.

Daily or Frequent Users

If you use your two or four-wheeler daily, its chances of encountering more risks on the road become higher. At the same time, any damage or long repair time can significantly hamper your daily schedule. Thus, under such a situation, you can easily avoid paying high repair charges and return to your daily life with comprehensive motor insurance.

What are the Features and Benefits of Buying a Comprehensive Motor Insurance Policy?

Take a look below to understand the key features and advantages of comprehensive insurance.

Wide Coverage

One of the best features of comprehensive insurance is its wide range of coverage. This insurance offers compensation for damages caused by personal accidents, earthquakes, riots, etc. Moreover, if your car gets damaged while being transported, this insurance will cover the repair costs.

Legal Compliance

With its feature of covering the third-party damage, which is mandatory under the Motor Vehicles Act, 1988, this policy helps you avoid any legal liability on the road. In fact, under the comprehensive plan called Private Car Package Policy and Two Wheeler Package Policy of Bajaj General Insurance for causing physical injury to any third party, the coverage amount is unlimited. However, in case of property damage, it is limited to a specific sum insured.

Cashless Repair Facility

Having proper cash during severe vehicle damage can be a matter of huge concern for two or four-wheeler owners. However, if you are covered under a comprehensive insurance plan, you will get a cashless repair facility at the preferred network garages. This means your insurer will directly settle the bill with the garage owner, reducing your out-of-pocket expenses.

Easy Customisation with Add-ons

Comprehensive insurance gives you the flexibility of customising your coverage benefits with its variety of add-ons. For instance, add-ons like 24/7 roadside assistance will provide you with immediate help for emergencies like flat tyres or towing. You can include these benefits in your standard coverage while purchasing or renewing the insurance.

No Claim Bonus (NCB)

As per the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI), every insurance provider is bound to give a maximum 50% discount to policyholders for claim-free years. Therefore, with NCB on your comprehensive insurance, you'll receive a reduction on your bike insurance renewal premium.

Coverage for Theft

According to a report covered by the Economic Times, vehicle theft in India has increased 2.5 times in recent years. This is why, to reduce your heavy financial loss, comprehensive insurance compensates for your stolen car or bike based on its Insured Declared Value (IDV).

At Bajaj General Insurance, we design our comprehensive insurance coverage to protect you from numerous unforeseen events on the road. In fact, as first-time buyers, you can also get a whopping early bird discount.

The table below shows the difference between comprehensive coverage and a third-party policy:

How to Calculate Comprehensive Car Insurance Premium?

You can easily calculate your comprehensive insurance premium with Bajaj General Insurance’s personalised calculator. The steps for calculating the premium amount follow,

Step 1: Open our car insurance premium calculator and click on the 'Get Quote' option.

Step 2: Provide your car’s registration number, your mobile number, and PIN code to log into your account.

Step 3: Select "Brand New vehicle" if you are a new registered user and enter your RTO city, name and mobile number.

Step 4: After registering your details, you will receive an OTP on your entered mobile number.

Step 5: Enter the details of your vehicle, such as its man/make/ model/year, fuel type, and registration year.

Step 6: Once you have entered all the necessary details, click on 'submit', and our calculator will show you an estimated premium instantly.

Factors that Affect Comprehensive Car Insurance Premium

The premium amount of a comprehensive insurance plan can be different across policyholders due to the given factors:

IDV (Insured Declared Value)

The Insured Declared Value (IDV) indicates the current market value of your two or four-wheeler. Thus, your premium amount will increase if your IDV is high. For instance, the owner of expensive cars such as the Range Rover Velar has to pay a higher premium due to the car’s exclusivity. The IDV is generally based on the make, model, and market price.

Bike’s Age

Age is an important factor in determining your car or bike's insurance premium. Older bikes have a lower premium due to their depreciating value over time. In fact, as it gets older, its replacement parts also become affordable, reducing the chances of costly claims. Meanwhile, a brand-new car has a higher IDV and a greater cost of repair or replacement, which increases the premium amount.

Make/Model/Variant

Luxury cars, which have expensive parts, maintenance costs, and repairs, will generally have a higher premium. Moreover, the high-end vehicles also have larger engine capacities (CC), resulting in higher premiums compared to regular family cars.

Policyholder’s Location

The policyholder’s location can increase the premium of comprehensive insurance. When a car is registered in a metropolitan area, the premium becomes higher. The reason is its increased traffic density and higher risk of accidents, theft, and damage compared to cars registered in rural or less populated areas.

Policyholder’s Driving Record and Claim History

Individuals with more claims become high-risk policyholders to the insurer. Therefore, their premiums might be higher at the time of renewal. Meanwhile, if your driving history is clean with no or few claims, you can get a premium discount.

Deductibles

The deductible is generally the amount you agree to pay out-of-pocket when you make a claim. It can be compulsory and voluntary. Therefore, if you agree to pay a higher voluntary deductible, your premium amount will automatically be lower.

Add-Ons

A comprehensive insurance coverage, benefits increase with add-ons, resulting in higher insurance premiums. However, these extra amounts are worth it as they protect you from high future expenses. 

1. ID Proof (PAN Card or Aadhar Card)

2. Duly filled and signed claim form

3. Copy of your valid policy.

4. Vehicle's Registration Certificate (RC

5. Driving License (DL)

6. Police FIR copy (if required)

Points to Consider While Raising A Comprehensive Car Insurance Claim

With an easy digital process, making comprehensive insurance is extremely quick and easy. However, to avoid any hassle while raising a claim, you should keep the following things in mind.

1. In case of a third-party claim or a theft, a police FIR is a mandatory document, so you need to prepare it as soon as possible to get the claim benefit.

2. Always take clear photos of the damaged vehicle at the accident scene to serve as proof to the insurer.

3. Properly fill out the claim document and cross-check it before submission, as one wrong piece of information can delay your claim.

4. Ensure to submit all the necessary valid documents, including policy copy and FIR copy (for theft/accident), to make the verification easy for the insurer.

5. Once your claim is approved, always have your vehicle repaired at your insurer’s associated network garages only to get the cashless benefits. 

Among countless insurance providers in India, the comprehensive insurance plan, Private Car Package Policy, and Two Wheeler Package Policy of Bajaj General Insurance stand out due to the following reasons:

Easy Purchase and Renewal

You can easily purchase or renew your comprehensive Insurance through Bajaj General Insurance Limited’s website or app. In fact, you can complete the entire steps and transaction in just a few clicks.

Network of Cashless Garages

We designed our plans to support you from accidents and mishaps in a vast location with our 7,200+ network garages across the nation. To easily find your nearest garage, use our network garage locator and get cashless repairs and other services.

Hassle-free Claims Settlements

You can easily file a claim online. Simply log in to your account, fill in the necessary details, and upload the required documents. If everything is in place, we ensure you don't have to wait long for compensation.

24/7 Assistance

At Bajaj General Insurance, we have a dedicated team of customer service assistants to answer your queries any time, anywhere. You can contact us at our toll-free number, 18002095858, or email us at careforyou@bajajgeneral.com.

Driving gives a feeling of liberation. At the same time, it is a big responsibility as you are in control of the vehicle that may cause harm or damage to others or their property. Besides, it is prudent to be aware of the other vehicles around them. Moreover, it is important to drive safely and responsibly.

In India, third-party insurance is a legal mandate. Adversity doesn’t come with prior notice. If you are a vehicle owner ensure to opt for a suitable comprehensive insurance policy. Let us delve into understanding comprehensive motor vehicle insurance.

WHAT IS COMPREHENSIVE INSURANCE?

In case of an accident having the insurance policy provides financial assistance to the insured in case of accidental damage to the vehicle. A cover will also be provided to the third party for any property damage or any bodily injury.

Having comprehensive motor insurance in place gives the assurance of security for not only the own vehicle damage but the liability of a third party involved in a mishap. The insurer can easily settle the claim in the case of demise as compensation. In case of death because of an accident, the nominee is going to be indemnified by Motor Accidents Case Tribunal (MACT).

WHAT IS COVERED IN COMPREHENSIVE INSURANCE?

In India, third-party insurance is a mandate but having full comprehensive insurance is not. It depends upon the vehicle owner to opt for a plan as per the requirement. Ideally, it is recommended to choose suitable insurance coverage and safeguard yourself financially.

While driving on roads, there are chances that the vehicle may meet with an accident. At times, the extent of damage could be massive. The repairing costs for the incurred damages sometimes might not be that pocket friendly and may take a toll on the finances. Henceforth, going ahead with comprehensive motor insurance should not be neglected

Here's a rundown of the comprehensive coverage:

• Third-party Cover

  It is important to note that comprehensive vehicle insurance also covers third-party liability as well. Having a third party cover offers protection against the damages incurred to the third party or their property

• Damage Due to Natural Disaster

  In case any damage or loss is incurred due to natural calamity a cover for the same is provided. The calamities generally include storms, floods, etc. The cover may vary from insurer to insurer

• Personal Accident Cover

  In case of a permanent disability or demise of the person the vehicle owner or the driver provides compensation to the third party

• Add-on Covers

  One may also enhance the security of the existing motor insurance policy by simply including add-ons to the base policy. You may think of including add-on benefits like a consumables cover , zero depreciation cover, etc.

Regardless of the vehicle you own, it is better to choose a comprehensive motor insurance policy. Being adequately covered lets you remain in peace and not worry about financial obligations.

*This is not an exhaustive list. Please refer to the motor insurance policy wording carefully. Standard T&C apply

WHAT ARE THE BENEFITS OF BUYING A COMPREHENSIVE MOTOR INSURANCE POLICY?

To keep any financial liabilities away, it is recommended to opt for comprehensive coverage in insurance. Take a look below to understand the advantages of the same:

• Own Damage Cover

  Having the comprehensive cover implies that the vehicle remains covered throughout for its own damage that may arise due to an untoward incident. For instance, if in a situation, where you happen to bang the car with a tree, the vehicle will need repair for the damage incurred. Having a comprehensive cover will never leave you financially stranded at any point in time.

• Convenience

  You can easily avail of comprehensive coverage in insurance online. Buying motor insurance from Bajaj General GIC is simple and quick. Choose a plan that fulfills your requirements. Once the purchase is done, the policy-related documents will be shared with you via mail.

• Network Garages

  The network garages are the service stations wherein you can avail of the service and no money needs to be paid for the vehicle. The repair costs will be settled by the insurance company directly. We have a strong network garage of 6500+ PAN India.

• Claim Settlement

  We have the best claim settlement ratio in the industry which is 98%*. At the same time, we also offer 24x7 roadside assistance. You may also benefit from our Motor On-the-Spot service which simplifies the process of filing and settling car insurance claims. Any two-wheeler insurance claims under Rs 20,000 and for cars up to Rs 30,000 gets settled within 20 mins* via our Bajaj General App.

WHAT IS NOT COVERED BY COMPREHENSIVE INSURANCE?

Now, let us also know what remains excluded under comprehensive coverage:

• Wear and Tear

  In case the damage is incurred to the vehicle because of normal wear and tear or due to aging leading to consequential loss remains uncovered.

• Alcohol Influence

  If a mishap has incurred and it is found that the driver was under the influence of alcohol or any other substance no claim will be provided. Driving is a social responsibility and safe driving is imperative.

• Illegal Driving

  If you are found driving without a valid driving license in India, comprehensive vehicle insurance will get nullified.

• War Like Situations

  If damage or loss is incurred to the vehicle insured due to war-like situations like nuclear attacks, mutiny, and so forth that is uncontrollable.

*This is not an exhaustive list. Please refer to the motor insurance policy wording carefully. Standard T&C apply

What is the Difference Between Comprehensive and Third Party Policies?

The table below shows the difference between comprehensive coverage and third-party policy:

*This may vary from insurer to insurer. Standard T&C apply