Bajaj Allianz General Insurance- Musical Instrument Insurance at Rs. 715
Product highlights
Note: This policy is available only for existing Bajaj Finance Limited customers. By proceeding, you agree to the terms and conditions
Key features and benefits
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Coverage up to Rs. 40,000, Premium of Rs. 715
Get coverage up to Rs. 40,000 in case financial loss suffered due to accidental damage or breakdown of the insured musical instrument.
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Standard fire and special perils cover
Get coverage for any damage to your musical instrument due to fire breakout, explosion, strikes/riots, or any other environmental disasters such as a storm, flood, earthquake, etc.
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Accidental damage cover
Get coverage against any accidental damage to your musical instrument where the musical instrument was in your possession at the time of damage.
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Cover for theft and burglary
Get protection against robbery or burglary or attempted burglary or robbery of your insured musical instrument.
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End-to-end online process
You can buy the policy online through our 100% digital and paperless process.
Eligibility criteria and documents required
You need to fulfil the following criteria to buy a Musical Instrument Insurance plan. If you meet all the eligibility criteria, we will need a few details to complete your application process.
Eligibility criteria
- Exclusively for Bajaj Finance customers
- Nationality: Indian
- Age: 18 - 65 years
Documents required
No documents are required to buy the policy.
You only need to provide the following details at the time of buying the policy:
- Name
- Address
- Email address
- Mobile number
- Details of the musical instrument
Step-by-step guide to buy this policy
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Step 1
Click on the ‘Buy Now’ button on this page.
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Step 2
Enter your full name as on your PAN card and mobile number and press the ‘Proceed’ button.
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Step 3
Enter the One Time Password (OTP) received on your registered mobile number for verification.
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Step 4
If your mobile number is present in our records, your details on the form will be pre-filled. All you need to do is to check if the details are correct.
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Step 5
At this point, the payment page will open. Complete the online payment via one of the following options: UPI, net banking, credit/debit cards and wallet.
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Step 6
After the payment is successful, you can download the policy receipt instantly.
You can also download the policy document from ‘My Account’ after 5 to 7 working days from the date of purchasing the policy.
Policy details
Here’s a quick look at the policy details of – Musical Instrument Insurance
| Policy details | Description |
|---|---|
| Sum insured (in Rs.) | 40,000 |
| Premium including GST (in Rs.) | 715 |
| Policy tenure | 1 year |
Key inclusions and exclusions
Here’s a quick look at the inclusions and exclusions under the Musical Instrument Insurance plan:
- Key inclusions
- Key exclusions
| Key inclusions | Description |
|---|---|
| Standard fire and special perils cover | The plan provides coverage against perils such as fire, explosion/implosion, lightning, flood, earthquake, cyclone, etc. You can also get coverage against damage due to riots and strikes. |
| Mechanical breakdown cover | The plan offers coverage for repair and replacement expenses incurred against unexpected mechanical breakdown of your instrument. |
| Accidental damage cover | The plan also provides coverage against repair and replacement costs for accidental damage of your instrument. |
| Key exclusions | Description |
|---|---|
| Gadgets older than 30 days | To seek the benefits of this insurance coverage, you need to apply for a musical instrument within 30 days of purchasing the filter. |
| Deductibles applicable | The deductible of the first 5% of every claim amount subject to a minimum of Rs. 2,000 will be applicable for all categories having a sum insured more than Rs. 20,000, and up to Rs. 40,000. |
| Terrorist activity | If any loss, damage or destruction is caused to your filter due to terrorist activities. |
| Damage due to pollution | Any loss sustained due to the effects of pollution or contamination. |
Product information
For complete details on product benefits, features, terms and exclusions, please read the product sales brochure and policy wordings carefully before concluding a sale.
How to claim
You can contact the insurer (Bajaj Allianz General Insurance) to claim the benefits of the Musical Instruments Insurance by email or phone:
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Insurer’s email address
Share your policy document and medical reports at bagichelp@bajajallianz.co.in.
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Insurer’s toll-free number
You can also call on the toll-free helpline number 1800-209-5858 and claim the benefits.
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Documents required to claim
To claim the benefits of the Musical Instrument Insurance, you need to present the following documents:
1. Invoice or bill copy
2. Duly filed claim form
3. FIR copy- in case of burglary or theft -
Contact Bajaj Finance Ltd.
In case you have any queries related to coverage, exclusions, or product policy, please write to us at wecare@bajajfinserv.in
Frequently asked questions
Musical Instrument Insurance provides coverage for the loss, theft, or damage of musical instruments. It can include coverage for a wide range of instruments, from guitars and drums to orchestral instruments like violins and cellos.
Musical instruments can be expensive and valuable investments, and they are also prone to damage or theft during transport or performance. Musical Instrument Insurance provides protection and peace of mind in the event of loss or damage.
The Bajaj Allianz Musical Instrument Insurance offered through Bajaj Finance is available at an annual premium of Rs. 715 for coverage up to Rs. 40,000.
When choosing a musical instrument insurance policy, it's important to consider factors such as the coverage provided, the cost of the policy, the deductible, and the insurer's reputation and financial stability. It may be helpful to compare policies from multiple insurers to find the best fit for your needs.
