Air Conditioners (ACs) can help one get respite from the scorching heat during summers. However, if your AC stops working, the costs of repairing, maintaining or replacing your air conditioner can be quite high. To avoid incurring these out-of-pocket expenses, consider getting covered with the right AC insurance policy.
Bajaj Finserv offers AC Insurance policy, so you can safeguard your AC against multiple risks and get coverage against any unforeseen expenses. This insurance policy covers air conditioners installed in your home or office against loss, theft, burglary, fire, and other accidental damages.
The policy provides coverage for AC repair or replacement under specific conditions, and helps you beat the heat without worrying about the safety and security of your air conditioner.
This personal all-risk policy offers a high coverage of up to Rs. 50,000 at a minimal premium of Rs. 399 per year.
The AC Insurance policy provides coverage for any AC repair/replacement expenses due to loss or accidental damage, theft, burglary, and fire.
The premium for your AC Insurance policy can be paid via multiple payment options including Net Banking, mobile wallets, UPI, debit cards or credit cards.
Here’s what is covered in this policy.
The plan insures your air conditioner against accidental damages or any unintentional event leading to the damage of your AC.
The Air Conditioner Insurance policy from Bajaj Finserv covers the repair/replacement costs incurred on an AC unit due to loss/damages caused by fire.
Financial losses resulting from theft and burglary of your air conditioner are covered by the insurer. You will receive financial compensation in case of a robbery.
In the above-mentioned circumstances, you will be provided with compensation (repair/replacement cost) as per the invoice value or maximum up to the sum insured amount.
Air conditioners that are more than one year of age from the original purchase date stated on the invoice are not covered. You will have to get your AC insured under this policy within 365 days of its date of purchase.
Faults or defects that already existed in the AC at the time of the commencement of the policy do not come under its coverage.
Any loss or damage caused to your air conditioner, during restoration and servicing processes such as cleaning, dyeing, or bleaching; preventative maintenance, repair and renovation, is not covered under this policy.
Damage or deterioration of your AC occurred as a result of normal wear and tear due to regular use, infestation of moth, vermin, insects, etc., growth of mildew, or other gradually occurring causes, is not included.
Electrical or mechanical failure and derangement of the components or the entire unit are not covered unless accidentally caused by external means or conditions that are clearly specified in the policy.
For each and every claim raised, excess amount (first 10% of claim amount) needs to be paid towards the claim on your insurance.
Loss or damages caused to the AC as a result of an act committed by the insured or any condition he/she has suffered from, which has increased the risks that the appliance was insured against, are excluded from the policy.
Malfunctioning and other issues arising out of misuse, misplacement, negligence, poor maintenance, and wilful or intentional reckless handling of the AC are not covered.
The insurance policy doesn’t offer coverage for any kind of legal liabilities or consequential loss.
To read more about the terms and conditions of the AC Insurance policy please click here.
In order to apply for an AC Insurance policy from Bajaj Finserv, visit our official website and fill the online application form with all the required details. Next, pay the applicable premium amount through your preferred mode of payment.
If you want to register a claim under your AC Insurance policy, contact the insurer through any of the following modes within 24 hours of the incident:
Once you intimate the insurer about the claim, the concerned executives will get in touch with you and help you with settling the claim at the earliest.
While lodging a claim under your AC Insurance policy you are required to submit the following documents:
For any queries related to the policy, please get in touch with us by writing an email to firstname.lastname@example.org.
Disclaimer - *Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third party products.”