It's a joint venture between Bajaj Finserv Limited (recently emerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength. Bajaj Allianz received the Insurance Regulatory and Development Authority (IRDA) certificate of registration on 2nd May,2001 to conduct various businesses (including Health Insurance business ) in India. The company has an authorized and paid up capital of Rs110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE. The Bajaj Allianz has achieved LOKMAT 2014 BFSI Awards for Best Life Insurance Company in Private Sector and received SKOCH Financial Inclusion & Deepening Award 2014. It is known to be the Best Insurance Company in the private sector in the IPE Banking, Financial Services and Insurance (BFSI) 2013.
Motor insurance is commonly known as vehicle insurance that assist you with financial protection against and theft or damage to your four wheeler or two wheeler. Two different types of coverage are included under this- comprehensive and liability coverage. An additional coverage that few insurance companies offer is accidental insurance. It provides complete coverage to the vehicle and makes a person feel secure against several unwanted incidents.
Bajaj Allianz offers three types of motor insurance :
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