Bajaj Allianz All Risk

Whereas the insured described in the schedule hereto has made a proposal to Bajaj Allianz General Insurance Company Limited (hereinafter called the Company) containing certain particulars and statements, which shall be the basis of this contract and be considered as incorporated herein for the Insurance hereinafter contained and has paid the premium as consideration for such insurance. Now this policy witnessed that subject to the terms, exceptions, limitations and condition contained herein or endorsed hereof the Company agrees to indemnify the Insured if at any time during the period of insurance the Property described in the schedule but not exceeding in the aggregate the total sum insured specified in the schedule.


The following words or terms shall have the meaning ascribed to them wherever they appear in this Policy, and references to the singular or to the masculine shall Include references to the plural and to the female wherever the context so permits:

SCOPE OF COVER: All risk cover predominantly covering Fire and Allied Perils, Accidental Damage, Electrical and Mechanical Breakdown caused by accident, Transit and Any Other Fortuitous Cause subject to following exclusions.

Excess for partial loss:

Up to the claim amount of Rs 20,000- excess 5% of the claim amount subject to a minimum of Rs 500.

Up to the claim amount of Rs 20,001 to Rs 50,000- excess 5% of the claim amount subject to a minimum of Rs 1000.

For claim amount more than 50,000- excess 5% of the claim amount subject to a minimum of Rs 1500 .

Excess for Total losses : Nil

Geographical Scope : Anywhere in India


The Insurer shall not be liable for:


This Policy and the Schedule shall be read together as one contract and any word or expression to which a specific meaning has been attached in any part of this policy or of the Schedule shall bear the same meaning wherever it may appear.


Partial Loss: –

Maximum liability for each Insured Equipment shall be cost of repair, subject to excess. If the repair cost or maximum liability at the time of loss exceeds the total loss settlement, Insurer shall settle the claim on total loss under BER (Beyond Economic Repair).

Total Loss: –

Maximum liability for each Insured Equipment shall be Sum Insured, subject to depreciation depending on age of insured equipment from date of purchase at the date & time of loss.

Depreciation Chart. Applicable only for Total loss cases [To any instrument / component]

Completed Age of the Item Depreciation %
0 to 3 months 15% of Purchase price
3 months to 6 months 25% of Purchase price
6 months to 1 year 35% of Purchase price

Maximum of 2 claims shall be addressed by the Insurer, during policy period; subject to maximum value of Sum Insured at the time of loss and prior claim is partial loss.

If the repair or replacement value is more than the compensation payable, beneficiary has to bear the difference between repair or replacement value and approved amount.

In the event of partial loss, at all times during the period of insurance of this policy the insurance cover will be maintained to the full extent of the respective sum insured in consideration of which, upon the settlement of any loss under this policy, pro rata premium for the unexpired period from the date of such loss to the expiry period of insurance for the amount of such loss shall be payable by the insured to the company.

The additional premium referred above shall be deducted from the net claim payable under the policy. This continuous cover to the full extent will be available not withstanding any previous loss for which the company may have paid hereunder and irrespective of the fact whether the additional premium as mentioned above has been actually paid or not following such loss. The intention of this condition is to ensure continuity of the cover to the insured subject only to the right of the company for deduction from the claim amount, when settled, of prorate premium to be calculated from the date of loss till expiry of the policy. In the event of settlement of claim on total loss basis, the Insurance cover offered under this policy for that particular handset shall stop forthwith.

Reinstatement of Sum Insured.


The Insurer shall, upon settling the claim of admission of liability for the claim, be entitled: on the happening of loss or Damage to the Handset/Laptop insured (in case of total loss), to take and keep possession of the Handset/Laptop damaged / recovered and to deal with the salvage in a reasonable manner.

Note: Please keep original copy of Invoice, Charger, Head-phone, User manual and other accessories handy in case of total loss claim. These will be required to be submitted to the Insurance Company. Claim may get prejudiced if original accessories are not submitted.


In the event of loss insured or beneficiary is required to do following steps:-

An immediate intimation (not later than 48 hours from the date and time of loss) about loss should be given to insurer or administrator by opting any of the below options:

On the basis of your call administrator will guide you further course of action.

The claimant will be directed to registered/preferred workshop for repair of the handset in case of partial loss.

Claim Settlement:


Do not get the damaged insured equipment repaired unless intimated over helpline of administrator & further authorized by insurer. Claim may get prejudiced in case Handsets/laptops are repaired at Non-authorized Service Centres or without prior approval of Administrator.

If claim is approved on repair basis

If claim is approved on total loss basis



The policy may be cancelled by or on behalf of the company by giving the insured at least 7 days written notice and in such event the company shall refund to the insured a pro rata premium for the unexpired policy period. For the avoidance of doubt, the company shall remain liable for any claim that was made prior to the date upon which the insurance was cancelled. The policy may be cancelled by the insured at any time by giving at least 7 days written notice to the company. The company will refund premium on a short period basis by reference to the time cover is provided, subject to a minimum retention of premium of Rs 500/-. No refund of premium shall be due on cancellation if the insured has made a claim under the policy.

Short period Scale:

Table of Short Period Rates
Period of Risk Amount of Premium Rate to be Retained by the Insurer
For period not exceeding 15 days 10% of the Annual rate
For period not exceeding 1 month 15% of the Annual rate
For period not exceeding 2 months 30% of the Annual rate
For period not exceeding 3 months 40% of the Annual rate
For period not exceeding 4 months 50% of the Annual rate
For period not exceeding 5 months 60% of the Annual rate
For period not exceeding 6 months 70% of the Annual rate
For period not exceeding 7 months 75% of the Annual rate
For period not exceeding 8 months 80% of the Annual rate
For period not exceeding 9 months 85% of the Annual rate
For a period exceeding 9 months The full Annual rate

Jurisdiction clause:

It is hereby declared and agreed that in case of any claim arising in respect of the property/person(s) hereby insured, the same shall be settled and paid in India and further that all legal proceedings in respect Of any such claim shall be instituted in a competent court of India only and claim would be paid in INR only.



Any and all notices and declarations to the Company shall be submitted in writing and shall be sent to the address specified in the Schedule.

Any and all notices and declarations for Insured’s attention shall be posted to Insured’s address stated in the Schedule.


 The Company shall not be bound to accept any renewal premium nor give notice that such renewal is due. No receipt for renewal premium is valid except on the official form issued by the Company.

Entire Contract

This Policy constitutes the complete contract of insurance. No change or alteration in this Policy shall be valid or effective unless approved in writing by the Company, whose approval shall be evidenced by an endorsement on the Policy.

Governing Law

The construction, interpretation and meaning of the provisions of this Policy shall be determined in accordance with the law of India. The section headings of this Policy are included for descriptive purposes only and do not form part of this Policy for the purpose of its construction or interpretation.

Resolving Issues

We do our best to ensure that our customers are delighted with the service they receive from Bajaj Allianz. If you are dissatisfied we would like to inform you that we have a procedure for resolving issues, as mentioned herein below. Please include your policy number in any communication. This will help us deal with the issue more efficiently. If you don’t have it, please call your Branch office.