A home inverter is an essential device that powers the electronic appliances in your household during power cuts. However, it is vulnerable to breakdown due to fluctuating voltage and regular wear and tear of the capacitor. This implies substantial repair and replacement costs which can be covered by a home inverter insurance cover. This insurance policy covers financial loss arising from accidental damage, theft, etc., of a home inverter against a nominal premium of Rs. 249 per year. Find out its features, benefits, and other crucial details discussed in the upcoming segments. 

Features and Benefits of Home Inverter Cover

Mentioned below are the features and benefits of the home inverter insurance plan that makes it a valuable insurance product:

Substantial coverage of up to Rs. 25,000

Get a high monetary coverage of up to Rs. 25,000 against accidental damages caused to the inverter in your household.

Standard fire and special perils cover

Avail coverage against damages caused due to fire, strikes, natural disasters like typhoons, floods, implosions, explosions, etc.

How to Purchase a Home Inverter Insurance Plan?

Purchasing a home inverter insurance plan online is hassle-free. You only need to follow a few steps to complete your purchase:

1. Click on Buy Now 

Select 'Buy Now' on the product page.

2. Provide the Essential Details 

Fill in the online application form with relevant information.

3. Pay Online

Pay the premium online using any digital payment mode of your choice.

You will get all the membership and policy details on your registered email ID.

What’s Covered under the Home Inverter Insurance?

The home inverter insurance plan provides financial coverage for the following circumstances:

  • Covers accidental damages

Claim reimbursements up to the insured amount for financial losses due to accidental damage to the inverter while in use at the insured’s premises.

  • Covers robbery and burglary

This insurance plan covers the financial loss or damages caused to the inverter at your home due to an actual or attempted robbery.

  • Covers damages caused due to electrical or mechanical Breakdown

This insurance policy covers the financial loss arising from replacing or repairing a damaged inverter due to an electrical or mechanical breakdown.

Policy Details & Specifications

Check out the policy details below:

  • Membership fee

Rs. 249/annum

  • Coverage limit

Rs. 25,000

What’s not Covered under Home Inverter Insurance?

You cannot file a claim against the home inverter insurance policy in the following situations:

  • Inverter older than 30 days

You cannot get financial coverage if the inverter is insured after 30 days from the date of purchase or the invoice date.

  • Damages caused due to pollution

This insurance policy excludes any financial loss arising from damages caused due to contamination or pollution.

  • Damages caused due to terrorism

You cannot file a claim against this insurance plan for the financial loss or damages caused due to a direct or indirect result of an act of terrorism.

How to File a Claim?

You can file a claim against this home inverter insurance plan in case you meet a situation covered under this policy. You can select either of the four ways to contact your insurance provider and file a claim:

  • Call

You can call on a toll-free number -1800-209-5858 to inform your insurer about the incident.

  • Send an email

Send an email mentioning the incident and policy details to bagichelp@bajajallianz.co.in.

  • Send the information via mailing address

You can send the information about the incident to your insurance provider via its mailing address - Bajaj Allianz General Insurance Co. Ltd, Bajaj Allianz House, Airport Road, Yerwada, Pune – 411006.

Documents Required to File a Claim

You need to submit the following documents to help your insurance provider to process the claim:

  • Copy of an invoice or bill of the inverter

  • Duly filled and signed claim form

  • A copy of an FIR in case of theft or burglary

Home Inverter Insurance Customer Care Details

You can connect with us at Bajaj Markets on insuranceconnect@bajajfinservmarkets.in and we will address your queries. 

FAQs on Home Inverter Cover

Is there any deductible payable towards the home inverter insurance plan?

You need to pay the first 5% for each claim you file against the home inverter insurance cover. This percentage is subjected to a minimum amount of Rs. 1,000 for the maximum insured amount of Rs. 20,000 or Rs. 2,000 for the maximum insured amount of over Rs. 20,000 to 50,000. This is valid unless your insurance provider particularly reviews or changes it and mentions the details in the Certificate of Insurance. 

Within how many hours do you need to contact your insurance provider after meeting an incident covered under this home inverter insurance plan?

You must contact your insurance provider's customer care support team within 24 hours of the incident to file a claim.

Where will you receive the membership details after purchasing the home inverter insurance cover?

You will get the membership details on your registered contact number or email ID after purchasing a home inverter insurance plan.

What is the maximum amount of financial coverage I can get under Home Inverter Insurance Cover?

A Home Inverter Insurance policy offers up to Rs. 25,000 worth of financial compensation.

Do I have to visit the insurer to get a Home Inverter Insurance Cover?

No, you can simply apply for Home Inverter Insurance Cover online on your chosen insurer’s official portal.

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