6 Things to Know About Insurance on Your Air Conditioning

  • by Editor

February 24, 2020
ac-insurance

Air conditioners have become one of the most sought after gadgets in our homes. It offers comfort and respite from the sweltering summer heat in our country. AC repairs or other issues to the appliance become an unavoidable inconvenient situation. Adding to that, the repair and replacement of an AC unit can be quite expensive.

Consequently, if you have an AC insurance policy in place, you can benefit from financial coverage of the repairs and related expenses. But before you opt for an AC insurance plan, check out these tidbits to have made the most out of it –

Financial coverage –

Insurance aggregators Bajaj Finserv provide Pocket Insurance & Subscriptions including the AC Insurance cover which provides you with ample monetary assistance for damages caused by unanticipated situations, viz. –

Fire – In case of damage caused by accidental fires, the air conditioner insurance policy will provide coverage for the expenses incurred to replace or repair the AC unit.

Robbery and burglary – If your AC unit has been damaged because of theft or burglary at your home, you will be financially compensated for it by the insurance provider. Furthermore, if you reside in an area where robbery or burglary occurs frequently, and you have to be away from your home often; you can opt for an insurance policy like home protection cover. It will financially safeguard your valuables in case of theft and burglary beyond just the AC.

Breakdown – Apart from fires and burglary, your AC unit can be damaged or can malfunction due to unforeseen reasons. In such cases, the expenses related to replacement or repairs of your AC will be borne by your air conditioner insurance provider.

Affordable premium –

When you opt for an AC insurance policy, you can avail a substantial coverage amount up to Rs.50,000 to meet all expenses related to replacement or repair your AC unit in case of unplanned incidents. However, you will only have to pay a nominal premium of Rs.399 per year.

  1. Quick online payments methods –

    Making time for direct offline transactions can be slightly inconvenient for those with a busy schedule. Consequently, insurance aggregators like Bajaj Finserv offer multiple online payment options which include – net banking, UPI, mobile wallets, debit/credit cards, and the likes. You can pay your insurance premium via any of the above payment methods.
  2. Application procedure –

The online process to apply for AC insurance policy is quick and straightforward. Refer to your insurance provider’s official website. Enter the required details on the online application form. After submission, the premium can be paid via any preferred online payment options.

Claim procedure –

The insurance claiming procedure is simple too. You can claim the insurance amount by informing your insurance provider via a call at their toll-free number, via email or other methods as intimated to you by your insurance aggregator.

  1. Documentation required –

However, you need to submit some documents when you are lodging a claim under your insurance policy. The documents are –

  1. A copy of the incident report.
  2. Original invoice of your AC unit.
  3. In case of partial damage, receipts for AC repairs.
  4. Duly signed the insurance claim form.
  5. In case of theft or robbery, a copy of the FIR.
  6. In case of loss or damage due to fire, a copy of the report from the fire brigade.

If you have recently purchased your AC unit, apart from the AC insurance plan, you can also avail insurance cover like purchase protection cover. However, go through the policy terms and conditions of any insurance policy before buying one to avoid any later complications.