Find out what you need to know about the Bajaj home insurance policy before you sign up! We will tell you what you need to know about this policy and how you can sign up for it. Read more here.
The new Bajaj Allianz home insurance policy will be available starting tomorrow. And it’s not a bad deal at all, considering that the policy covers maximum possible risks and is priced competitively. But there is one problem.
If you have taken home loan from ICICI bank, HDFC bank, Axis bank, SBI or Kotak Mahindra bank then you will be asked to sign for Bajaj Allianz home insurance policy along with your loan. If you don’t sign then the bank will not disburse your loan.
I have taken a loan of Rs 5 Lacs from HDFC bank, Palladium branch and they have asked me to buy a home insurance from them. This is strange because I have taken the loan from bank and not from the insurance company. Is it compulsory for me to buy home insurance policy from HDFC bank for getting the loan? I cannot understand this.
How Bajaj home insurance works?
Bajaj Allianz General Insurance, one of the best insurance companies in India, offers a range of insurance products to protect your home, health, car and other assets. Bajaj Allianz General Insurance offers home insurance online in India for 1 or 2 BHK houses with just a few clicks.
You can choose from a variety of home insurance plans to protect your home and family from unforeseen circumstances. Choose from 1 or 2 BHK home insurance plans to protect your home and family from unforeseen circumstances. Get started by choosing the option below to buy home insurance online in India.
Hey Why Bajaj home insurance policy important?
Bajaj Allianz General Insurance Company Limited is the insurer of the Bajaj Finserv Home Loan. However, it is not mandatory for a loan applicant to buy the insurance policy, but the company insists that the policy is term-linked and will expire at the same time as the loan does.
According to the loan agreement, all the policies are “subject to credit approval by Bajaj Finserv Home Finance Limited and Bajaj Allianz General Insurance Company Limited. The loan amount and the insurance premium will be due and payable by the borrower to Bajaj Finserv Home Finance Limited and Bajaj Allianz General Insurance Company Limited, respectively, on the date of disbursal of the loan.
” It is also mentioned that “the policy will be in force for the term of the loan and will expire on the last day of the term of the loan. The loan amount and the insurance premium will be due and payable by the borrower to Bajaj Finserv Home Finance Limited and Bajaj Allianz General Insurance Company Limited, respectively, on the date of disbursal of the loan.”
The answer to the most common question.
A lot of people are confused about what exactly the “home insurance” is. Many people think that it is the same as a normal insurance policy. They are wrong! A home insurance policy is something different. A standard insurance policy covers risks associated with your vehicle, health, travel and more.
A home insurance policy is a special one that covers your home and its contents against natural disasters and theft. A home insurance policy is something you must have if you have a home. A home insurance policy is available in two main forms, the first one being a special one that is designed only for home insurance and the second one, which is actually a normal one, is designed for multiple purposes.
The home insurance policy that is designed for home insurance only is cheaper and is available at a very affordable cost. You can compare the home insurance policy along with its premium online, so why not compare now to get the best deal?
Bajaj home insurance policy for residents of Indian.
Bajaj Allianz General Insurance Company Ltd. sells home and accident insurance for home loan borrowers. The company tied up with most of the banks to sell its insurance products to home loan customers. In fact, the company even offers discounted premium for customers who buy its policies along with the home loan.
However, the company came under fire after a forum called “Bajaj Allianz Insurance – Victims of Fraud” was registered on Facebook. This forum called out the company for allegedly forcing customers to buy its product. According to the forum, the company insists on signing the home insurance policy before releasing the loan amount, which is a violation of banking rules.
The forum alleges that the company threatens to cancel the loan agreement if the customer refuses to sign the policy. According to the forum, when a customer approaches the bank, the bank officials advise them to sign the policy as it is a must for the loan disbursal.
Tells you what you should ask before you buy a policy?
Though Bajaj Allianz has a good name in the market, I feel that their insurance agents are not doing a good job. The customer relations executive (I didn’t get his name) was rude to me. I asked him if my existing Bajaj Allianz policy will be renewed along with this new policy.
He said, “No, you have to buy a new policy.” I told him that I have an existing policy and it will be renewed automatically. He said that they cannot do that and they will not renew the policy. I said that I don’t want the policy and I want out of it. He said, “Then you have to pay the annual premium for the last year.” I told him that I have paid the premium for the last year. He said, “No, you haven’t paid.” I said, “Yes, I have paid.” He said, “No, you haven’t paid.” I said, “Yes, I have paid.” Then he said, “I’m not going to renew your policy.” I said, “Okay. Take the payment.” He said, “No. I’m not taking your payment.” I said, “Okay, take the payment.” He said, “No, I’m not taking the payment.” I said, “Okay, then I’m not taking the policy either.” He said, “No, you have to take the policy.” I said, “No, I don’t want the
How to choose the right bajaj home insurance for your home ?
Insurance is one of the best ways you can protect yourself and your family from the financial impact of an unfortunate turn of events. It can even help you protect your business from risk. The best insurance is the one that fits your needs and situation. The process of choosing the right insurance should be easy. But due to the overwhelming number of insurance providers and policy options, the process can become complicated. Therefore, it is helpful to have a checklist of questions to ask your insurance agent.
Why you should buy home insurance?
There is no doubt about the fact that buying a home is one of the biggest investments that an individual can make in their lifetime. Therefore, it is important to protect your home from various financial risks. Home insurance is one of the most convenient and cost effective means to protect your home from the financial risks. Here are some of the benefits of buying home insurance: 1. Your home is protected against a wide range of financial risks. 2. You can claim tax deductions on your home insurance premium. 3. You are provided with a wide range of benefits. 4. Your loan will be sanctioned only if you buy a home insurance policy.
Conclusion: (bajaj home insurance policy)
I have bought EMI from Bajaj finance for home loan on 4th Sept 2017. When we visited their office for taking the receipt for the EMI, they insisted to sign for an insurance policy along with the loan. My loan amount is Rs.7.50 lac.
They said that it is a Bajaj home insurance policy and it is compulsory to sign for the same. I told them that I already have an insurance policy and I don’t need another policy. They said that it will be cancelled automatically after signing for this policy. I asked them to explain me the details and they said it is an annual policy and I have to pay Rs.2500 per year for the same.
The agent who was assisting me did not explain me properly and I signed for the policy. I asked for the details of the policy and the agent gave me a brochure. I did not read the policy details as I was in a hurry to leave for my office.
I could not understand the Home insurance is a must have, whether you are a first time home buyer or an experienced one. Be sure to ask all the right questions before you buy your home insurance policy.