Motor insurance: A new add-on cover for private car owners. Know features

Bajaj Allianz General Insurance has launched a new motor insurance offering called V-Pay. The add-on cover is only for private car owners, not for commercial vehicles. Under this add-on, the insuree can report multiple minor paint chips and/or scratches anytime during the policy period. Mechanical and electrical breakdowns that are not a result of accidents would also be covered by V-Pay, Bajaj Allianz said in a press statement.

The V-Pay has an elite plan, comprising 22 features covering small scratches, mechanical and electrical breakdown, cyber risk cover, etc. The V-Pay will also be applicable if losses have occurred by a customer within Bangladesh, Bhutan, Nepal, Pakistan, Sri Lanka, and Maldives.

The V-Pay add-on has a “Recalibration” feature that ensures protection for the vehicle’s digital sense devices as well. In current motor insurance policies, customers are bound to pay a compulsory deductible as per the standard terms and conditions of the policies. However, V-Pay eliminates the need for deductibles during a claim with its Waiver of Deductible feature, Bajaj Allianz mentioned.

Moreover, if customers forget to declare additional accessories or CNG fitments, their vehicles are still protected during claims with coverage of up to 1% of the Insured Declared Value (IDV). Defence Cost is also covered in the Elite plan, which covers the fees of legal assistance to the customer for police and court proceedings.

V-Pay will protect the insured’s vehicle from software issues, cyber extortion, and theft of funds resulting from cyber-attacks. V-Pay add-on cover is further extended to protect the insured’s vehicle with features like rally, depreciation waiver, tyre or rim protection, personal baggage, key replacement, vehicle retrieval, towing, vehicle replacement, 24×7 roadside assistance, and rodent bite.

Period of cover:

According to Bajaj Allianz, the period of insurance of VPay will be identical to the policy period of the base policy to which the addon cover is attached.

Notably, the add-on cover would be available only at the time of purchasing a fresh motor insurance policy.


The company has revealed the details of the premium. The customer will know about premium details after filling out the proposal form.

Cancellation of policy:

Cancellation conditions of the add-on cover will be identical to the base policy to which the add-on cover is attached

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Updated: 19 Jul 2023, 01:59 PM IST

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