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Here are the Key Highlights for the Downtime Protection Add-on Cover

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Most people tend to purchase car insurance as a compulsion to meet the legal standards and not more as a safety tool for their four-wheeler. This is why the trend of buying third-party insurance is comparatively much higher than comprehensive insurance.

However, the value of a competent comprehensive plan is understood the hard way after a mishap that pinches your pocket. One of the biggest perks of having a comprehensive plan is that you can enhance its coverage span by adding suitable riders to it. Some popular riders include Zero Depreciation cover, Roadside Assistance cover, Downtime Allowance cover, etc.

This article will focus on Downtime insurance coverage protection.

Downtime insurance coverage

The term “downtime" is referred to “something that isn’t readily available to use". The implication of this coverage means that money for the time a particular thing is remaining idle and not being used. This is usually implied for mechanical or technical faults. In the context of vehicles, downtime coverage comes in handy when it is under repairs up to a specified limit as per the plan terms.

If you use your vehicle daily to go to work, it meets an accident. It needs a week to get repaired. Your insurance will cover the amount spent for travelling to work using an alternate route provided you have Downtime cover.

Claiming for Downtime Allowance

You can file a claim against Downtime Allowance when your vehicle remains immobilised due to damage caused by either manmade calamities like strikes, riots, etc. or natural calamities like floods, earthquakes, tsunamis, etc. To ensure a smooth claim settlement you need to follow these few simple but effective steps:

1. Claim intimation:

Inform your respective insurer at the earliest to intimate them regarding the development. Depending on the respective company policy the claim settlement procedure may differ. You can seek information and guidance regarding the same from the customer care cell.

2. Documents:

You need to submit certain documents like the claim application form, duly filled-in and signed; a written claim application; an FIR copy if required; a copy of the vehicle insurance; a copy of the DL of the person who was driving the car during the accident; other additional documents as needed.

3. Verification:

Once all the documents are verified to be correct, you will receive the approved claim amount at the earliest.

How to buy Downtime Protection cover

Since Downtime Allowance is an additional rider, you need to purchase it along with a comprehensive plan. You can do so at the time of plan renewal or while purchasing a new plan. You cannot buy it with third-party cover as they do not offer any rider facility.

Downtime Allowance cover can be bought with your insurance either online or offline.

Online

While purchasing online, you need to compare and analyse all plausible car insurance options available to you as offered by different insurance companies. After choosing one competent plan, you have to ensure if that company offers Downtime Allowance cover or not. This is essential as all companies do not offer all sorts of add-on covers.

Once the plan is sorted along with this rider, you can open the official website page of the concerned insurance company. Click to buy a new plan or opt for plan renewal. Enter all the necessary details as required and upload your identity proof in the case new plan purchase. Once all this is done, pay the premium amount using any reliable online medium like credit card, debit card, UPI, e-wallet, etc.

As you complete the entire process, you will shortly receive the policy papers to your registered email address.

Offline

In the case of offline purchases, you need to visit the nearest branch of your chosen car insurance provider, provided you have confirmed beforehand that they offer Downtime Allowance coverage. Consult the respective official(s) and follow the process as stated by them. Enter all the relevant details on the insurance purchase application form and submit it along with other necessary documents like address proof, identity proof, previous policy papers (in the case of plan renewal), etc. Make the payment using cheque/DD/online mediums like credit/debit cards, e-wallets, UPI, etc., other than cash.

Once the procedure is completed, you will receive the policy documents at your registered address within a short span.

Advantages of Downtime Protection

By now, we have well understood that Downtime insurance can come in handy when your vehicle remains immobile due to certain specific reason(s). Some of the most significant advantages of having a downtime cover include:

1. Convenience:

Downtime Protection allows convenient coverage of the commuting cost during the immobility phase of your vehicle. This proves to be especially helpful for those who use their vehicles for daily commute to work.

2. Daily travel allowance:

If you have Downtime Protection, it allows you to receive a daily travel allowance and avoid paying for commuting out of your pocket. You can utilise this money to ensure an uninterrupted mode of travel as long as your car is undergoing repairs.

3. Zero compromise:

You can contact your insurance provider to discuss the best mode of daily travelling that you would prefer to undertake as per the plan terms.

Exclusions

Certain standard conditions where Downtime allowance does not allow coverage include:

1. In the case of claim rejection, the allowance is not paid to the policyholder

2. The claim will not be honoured in the case of windshield damage or damages restricted to only the vehicle’s glass parts.

3. You cannot raise a claim against this cover if the total number of days essential for repairing the concerned vehicle is lower than the minimum number of days specified in the plan.

Conclusion

While raising a claim on Downtime Allowance, you need to inform your insurance provider at the earliest to receive proper guidance maintaining complete transparency on both sides. Ensure to provide all the necessary documents and enjoy the benefits of this coverage.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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