You can buy the downtime allowance add-on with a comprehensive insurance. You can buy the coverage either when you are buying a new policy or when you are renewing an existing plan. You would have to choose the add-on from the complete list of add-ons offered by HDFC ERGO. Then pay the additional premium for the coverage and the coverage would be added to your base policy. It is as simple as that!
The downtime protection add-on is quite beneficial for car owners. Here are some reasons why –
● You receive a flat daily allowance irrespective of the actual costs incurred on alternate transportation. This allows you to meet additional costs too that you might incur when your car is under repairs or when your claim is being processed.
● The additional premium payable for the add-on is quite low
● You get the daily allowance for a specified number of days so that you don’t face any inconvenience after a claim
● The add-on is easily available online when you buy or renew your car insurance policy.
Downtime protection for car insurance is available only if you make a valid claim in your car insurance plan. The add-on, then, pays Rs.5000 per day till your car is repaired in the case of damage. In the case of total loss or theft, the downtime allowance is paid till the claim is settled. The maximum period up to which the claim is paid is 5 days in the case of a partial loss and 15 days in the case of a total loss.
The downtime protection claim is payable only if you have made a valid claim in your car insurance policy. Then too, there is a deductible of 24 hours. The downtime allowance in car insurance would be paid after the first 24 hours. The expenses incurred till the first 24 hours would have to be borne by you.
After you have incurred a valid claim in your car insurance plan, follow the claim process and intimate HDFC ERGO. If you have selected the downtime protection add-on, inform the insurer about the same. The company would then start paying the daily allowance after the first 24 hours.
When you are filing a claim for downtime insurance, here are some aspects that you should bear in mind –
● Find out if you need to submit any documents. If you do, submit the relevant documents so that the claim can be processed easily
● Though the add-on pays an allowance of Rs.5000 for arranging an alternate vehicle, you can use the claim amount as you deem fit
● The downtime insurance claim would affect your no-claim bonus and make it zero
● Make sure that your car insurance policy is active when you are making a claim for downtime protection