Edelweiss General Insurance inducted to WAF Innovators Club for the SWITCH – Motor Floater Policy

Edelweiss General Insurance

Edelweiss General Insurance aims to bridge the distance between customers and insurance, by making insurance disarmingly effortless. Understanding the pulse of customer requirements, our products are based on real needs and relevant to what is currently needed to protect you and your family.

Backed by a strong regulatory framework and a service that is prompt and caring, we help you protect what you love and take tremendous pride in saying you can take us for granted!

To know more, visit: www.edelweissinsurance.com

SWITCH – Motor Floater Policy

Motor Insurance has remained virtually unchanged since it began as a category, many decades ago. When you buy a vehicle, you pay a premium and take a policy that covers your vehicle for the next 365 days. But here’s the thing: does your vehicle really need accident cover for each of those 365 days? Such continuous cover makes sense for your health insurance, because obviously a person can fall ill anytime. But a vehicle can have an accident only when you’re driving it! And no one uses their vehicle 24/7/365. So why pay a premium at all when you aren’t even using the vehicle, and there’s no risk of an accident? That’s the thinking behind Edelweiss SWITCH, our pay-as-you-use motor. You pay a premium only for the time you switch ‘On’ your cover, when you’re actually using the car. And when your car’s safely parked, you switch your policy ‘Off’ and stop paying the premium. This revolutionary concept is possible because Edelweiss SWITCH is not an old-fashioned paper policy, it is housed on the Edelweiss SWITCH app, which a customer downloads on his phone once he buys the policy.

On one single Edelweiss SWITCH policy, one can cover up to 3 vehicles, and can have up to 3 drivers who are authorised to drive the vehicles. On any given day, the customer can choose which vehicle needs to be covered, with a simple tap on the app. In fact, one can select in advance which vehicle needs to be covered on which days. Of course, we understand that risks like Fire and Theft have no timing – your car could suffer either of these even when it’s safely parked. That’s why, both these covers come on a 24/7/365 basis. And you have to buy Third Party cover separately.