Appliances like washing machines have become one of the most common household necessities in today’s lives. These machines can be found in every modern household, used to significantly decrease the manual labor or washing, rinsing, and drying clothes.

With the advancement of technology, these appliances have become significantly more affordable, starting from below Rs.10,000 and ranging up to Rs.70,000 depending on the capacity, functionality, brand, and features.

Unfortunately, like most other electrical appliances, washing machines are also susceptible to a number of electrical and mechanical malfunctions, as well as external damages. Repairing or replacing such expensive machines can put significant strain on one’s finances. Repairing a washing machine can easily cost upwards of Rs.8,000 to Rs.9,000, which might be only slightly less than that unit’s retail price.

To mitigate this issue, customers often resort to insurance policies like the Washing Machine Insurance offered by Bajaj Finserv under Pocket Insurance & Subscriptions.

A washing machine insurance policy offers comprehensive cover against accidental damage caused by man made or natural calamities, ensuring minimum financial burden to the insured individual for the necessary repairs or replacement.

washing machine

Insurance for washing machine – A detailed look

This insurance policy provided by Bajaj Finserv acts as a Personal All Risk policy that covers financial loss experienced for both repair and replacement cost of a washing machine, or the cost of replacing the unit if it cannot be repaired. It offers several attractive features and benefits; let’s take a look at some of them.

● Large sum insured against an affordable premium

Washing machine insurance policy offers a large sum insured, up to Rs. 35,000, against a nominal premium of Rs.199 per year. It ensures that the policy stays affordable for everyone, without compromising on the financial backing required to repair the unit when it malfunctions. Customers can easily pay the due premium online using payment portals like UPI, debit or credit cards, mobile wallets, etc., eliminating the hassle and time taken.

● Comprehensive damage cover

Washing machine insurance plan extends its coverage for loss or damage caused due to specific reasons. In such cases, the insured individual will receive the invoice value, or the sum insured, whichever is lower.

Why purchase an insurance policy for a washing machine?

There are several reasons why one should purchase an insurance policy instead of a washing machine extended warranty. Primarily, extended warranties act as an add-on to the existing manufacturer’s warranty, which limits the coverage and implements several clauses to avail a repair. On the other hand, an insurance policy acts as a standalone financial service, offering comprehensive coverage to the insured product.

Moreover, customers also have the provision to extend the insurance cover by availing other plans, like a home protection insurance. This insurance cover provides an all-inclusive coverage against any damage, loss or theft for items (like furniture, electronics and audio equipment, money, clothes, etc.) in or from the secured premises. It is advisable to have such a policy in place before going on a vacation, ensuring peace of mind.

One can also avail insurance plans like Price Protection Cover provided by Bajaj Finserv to ensure financial protection of a high-value purchase made against price difference, i.e. if the printed price is higher than the advertised price of the same product.

Coverage offered by an insurance policy for a washing machine

When customers buy a washing machine insurance policy, he or she insures that particular unit against the following types of incidents –

● Accidental damages

Cost of repairing any accidental damage on the insured machine is covered under this policy. Customers can also claim the expense incurred to replace the unit under special circumstances.

● Damage caused by fire

Financial loss incurred to repair the insured unit damaged because by fire is also covered under washing machine insurance policy.

● Damage incurred because of theft or burglary

The insured individual will benefit from compensation if the insured unit is stolen or suffers any damage because of cases of theft or burglary.

How to apply and claim an insurance policy


The entire process to buy washing machine insurance policy can be completed online. Customers can apply for the insurance policy in the official website, fill up an application form and pay the premium online. Claiming the insurance plan is also simple; one will have to reach the insurance aggregator within 24 hours of the incident via phone, email, or SMS. An executive from the financial institution will get in touch and help navigate the settlement process.

Customers have to submit some documents while filing a claim, these include –

1. Detailed incident report.
2. Duly filled claim form.
3. Original invoice of the insured unit and bills of repair (if any).
4. Copy of first incident report from the fire brigade (in case of loss incurred because of fire).
5. Copy of first incident report from the local police station (in case of theft or burglary).

Washing Machine Insurance policy introduced by Bajaj Finserv offers complete peace of mind against any possible damage incurred to such a necessary home appliance. With its affordable premium and high sum insured, it offers the necessary protection without financially burdening anyone’s personal budget.

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