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Standalone Own-Damage Insurance V/S Third Party Insurance V/S Comprehensive Insurance
| Feature | Standalone Own Damage Insurance | Third Party Insurance | Comprehensive Insurance |
|---|---|---|---|
| Coverage | Covers damage to your own bike only. | Covers damages or injuries to others only. | Covers both your own bike and third parties. |
| Legal Requirement | Not required by law. | Mandatory by law for all bike owners. | Not mandatory, but offers extensive coverage. |
| Cost | Moderately priced; depends on coverage. | Usually less expensive. | More expensive due to broad coverage. |
| Protection against theft and damage | Covers theft and damage to your bike. | Not covered. | Covered. |
| Protection from natural disasters | Covered. | Not covered. | Covered. |
| Add-on available | Add-ons available for enhanced coverage. | Limited or no add-ons. | Several add-ons are available. |
| Ideal for | Good for new or expensive bikes. | Required for legal compliance. | Best for comprehensive protection. |
Bike Insurance Plans By Bajaj Allianz
What is Covered & Not Covered by Bajaj Allianz Standalone Own-Damage Two-Wheeler Insurance?
This insurance covers:
Crashes and collisions on the road that damage your two-wheeler.
Damage to your bike from fire or explosions.
Acts of vandalism on your bike.
Theft of your bike or situations where it is completely damaged.
Damage from natural or human-made disasters, like cyclones.
This insurance does not cover:
Breakdowns due to mechanical or electrical problems.
Damage from accidents while driving illegally.
The natural decrease in the value of your bike over time.
Accidents or damage that happen outside the area the insurance covers.
How to Buy Bajaj Allianz Own Damage Bike Insurance From Square Insurance
Step 1
Go to the Square Insurance official website at "https://www.squareinsurance.in/".
Step 2
Click on the "Bike Insurance" option under the "Insurance Products" menu.
Step 3
If your bike is new, click on "Got a New Two-Wheeler."
Step 4
If your bike is old, type in your bike's registration number and then click "View Plans."
Step 5
Enter details like RTO, make, model, variant, and the year it was registered.
Step 6
You'll see different plans on your screen. Look through them and choose the one from Bajaj Allianz.
Step 7
Pay for your chosen plan, and you will receive your policy document by email from the insurance provider soon.