Bajaj Allianz General Insurance Launches Add-on Motor Insurance Cover

Bajaj Allianz General Insurance has launched V-Pay, an add-on motor insurance cover that consolidates all vehicle insurance needs into a comprehensive package. With V-Pay, customers no longer need to choose from multiple fragmented covers, as this single add-on provides protection against all major risks, ensuring comprehensive coverage for their vehicles.

V-Pay add-on cover offers the Elite plan, which has 22 inbuilt features that provide a balanced solution for the insured’s vehicle, catering to both conventional risks as well as addressing emerging risks.

Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, said, “Motor Insurance offers multiple add-on covers, but choosing the right ones can be daunting. Likewise, during claims, it is overwhelming for customers to understand what falls under the purview of their policy and what they have to bear from their pocket. Addressing these concerns, our game-changing add-on, V-Pay, streamlines the entire process, from purchasing the cover to a hassle-free claim settlement. With its 360-degree coverage, the V-Pay add-on will simplify the lives of our customers like never before. We deliver as promised to ensure that customers can have complete peace of mind.”

Private car owners can opt for V-Pay add-on cover on their base Own Damage (OD) cover with its policy period up to the policy period of the base policy. Customers can opt for this offering at the time of purchasing a fresh motor insurance OD policy or during the renewal of their existing motor insurance policy.

As per the company, V-Pay includes a Smart Repair feature that allows customers to report minor paint chips and scratches at any time during the policy period, streamlining the claims process for minor damages. Unlike standard motor insurance policies, V-Pay also covers mechanical and electrical breakdowns not resulting from accidents, providing customers with broader coverage.

Furthermore, V-Pay eliminates the need for deductibles during claims through its Waiver of Deductible feature, offering additional convenience and cost savings for policyholders. It also provides coverage for undeclared additional accessories or CNG fitments, protecting vehicles during claims with coverage of up to 1% of the Insured Declared Value (IDV).

The V-Pay add-on offers comprehensive coverage, addressing gaps in traditional motor insurance policies. It caters to the evolving needs of customers in an increasingly connected automotive landscape, ensuring their vehicles are safeguarded against various risks.