Bajaj Allianz Introduces 3-Year Insurance Policy for Two-Wheelers

Bajaj Allianz has introduced a new policy for two-wheelers providing cover for up to three consecutive years. The first-of-its-kind offering negates the need for renewing one's two-wheeler insurance every year with one policy certificate issued to the owner for the said period. Bajaj Allianz is also offering 24x7 roadside assistance with its new policy to customers, which the women owners will receive free of cost for the first year.

The three-year insurance policy will see no premium hikes during the entire term, even if the third party motor premium witnesses a hike. Furthermore, the insurer will be eligible for extra no-claim bonus on renewal of the policy after three years, only if no claim has been made during the policy's tenure. Bajaj Allianz also promises to allow the refund of of premium, if a claim of partial loss will be made during the policy's timeline.

The three-year policy extends to all two-wheelers on offer

Talking about the roadside assistance service, Bajaj Allianz is providing 24x7 roadside support and will provide assistance in situations like an accident, flat tyre, lost key, low battery, minor repairs and even legal advise. In fact, the assistance extends to the provision of accommodation, taxi benefits as well as medical co-ordination. The company is currently providing the service in 80 cities across the country and claims to have designed the assistance keeping in mind the challenges faced by women on the road.

The move is a sure welcome and will see more owners opting for the policy in order to avoid annual renewals. The move will also help have a larger set of insured two-wheelers on-road plying on the road.

Commenting on the launch, Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance said, "Every year, a large number of two-wheeler owners do not renew their insurance policies. As a result, India today has the highest number of uninsured two wheelers plying on the road. This long term policy will not only ensure that they are covered for a longer period of time, but will also help save their outgo towards their motor premium in comparison to a single year policy. Most importantly, the two wheeler customers now have an access to 24x7 road side assistance. In our attempt to make travel worry free and safe for women, this facility will be offered complimentary to our women customers."