Bajaj Allianz Construction Equipment Insurance

About Bajaj Allianz

Bajaj Allianz General Insurance was incorporated in 2000 in Pune and began writing business in 2001, originally as an Indo-German joint venture between the Bajaj group and Allianz. After Allianz exited, the company was renamed Bajaj General Insurance in October 2025, and the partnership formally wound up on 8 January 2026, leaving it close to fully Bajaj-owned. It is headquartered in Pune and holds IRDAI registration number 113.

Scale is its calling card. It ranks among India’s largest private general insurers — roughly the second-largest private player, with a market share around 7.4% — with offices reaching across more than 1,100 towns and a cashless garage network of over 7,200. For an equipment owner that footprint matters: a machine working in a remote district is rarely far from a Bajaj presence, and claims run through an in-house team rather than being handed off.

Why insure with Bajaj Allianz

A few reasons make it a sound choice for earthmoving and construction plant. It is one of the oldest and largest private general insurers in the country, writing business since 2001, so there is a long track record behind the cover on your machine. Its nationwide reach is genuinely deep, which is no small thing when your fleet is spread across districts most insurers barely touch. It publishes its CPM policy wordings, so you can read what you are buying rather than guessing. And it handles claims in-house, with a large commercial-vehicle and motor book that keeps its assessors used to heavy, high-value machinery. The current corporate story — a 24-year partnership ending and the business turning fully Indian-owned as Bajaj General Insurance — is worth knowing, but the underwriting muscle and branch network carry straight over.

Coverages available

The core product is the Contractors’ Plant & Machinery (CPM) policy. It meets sudden, accidental physical loss or damage to your scheduled machines — in operation, lying idle, or being moved and dismantled for maintenance — from fire and allied perils, theft and burglary, accidental external damage, overturning, and natural catastrophe such as flood, storm and landslide. Each unit is listed with its own sum insured, generally on a replacement-value footing. Because the wordings are published, you can see exactly where the cover begins and ends.

For projects, Bajaj Allianz writes Contractors’ All Risk for civil works under construction and Erection All Risk for installation and commissioning, with plant foldable into those sections where appropriate. Internal electrical or mechanical breakdown — deliberately outside CPM — is covered by a separate Machinery Breakdown policy, a sensible gap-filler on costly plant. Common extensions include third-party liability, owner’s surrounding property, debris removal, escalation, and an anywhere-in-India basis so cover stays with a machine that moves between jobs.

What's usually not covered

What it's likely to cost

No single price fits, since risk varies machine to machine. As a broad guide, annual CPM premiums in India usually sit between 0.5% and 1.5% of the insured value. For illustration only, a machine insured for ₹50 lakh might land roughly in the ₹25,000 to ₹75,000 band a year before GST. Your actual rate depends on the equipment type and risk group, its age and condition, the insured value, and where and how it is used — hilly, flood-prone, mining and tunnelling work rates higher. Past claims, the chosen excess, the add-ons and the single-site-versus-floater decision all shift it. Taking a higher voluntary excess brings the premium down. The only firm number comes from a quote, which is exactly what Desi Machines arranges.

How claims work

If a machine is damaged or stolen, intimate Bajaj Allianz promptly — a day or two is the safe habit — and file an FIR at once for theft, burglary or any third-party event. The insurer’s in-house claims team takes it from there and appoints an IRDAI-licensed surveyor to settle the cause and quantum. Keep the documents handy: policy copy, completed claim form, registration papers where they apply, FIR for theft, repair estimates and bills, and dated photographs. You can report a claim on the toll-free number 1800-209-5858 or through the ‘Caringly Yours’ app. Where the insurer’s liability is clear, an on-account payment can be released before the final settlement so your project does not grind to a halt while a survey is completed.

24×7 claims: 1800-209-5858

Rules & paperwork worth knowing

Frequently asked questions