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LOSS OF
USE COVER (SERIES 2)
 "While
your car is under repair, LOU will take you round"
While your car
is on the road to recovery, it needn't be the
end of the road for you. Hit the road again in
no time with Loss Of Use (LOU) cover, Malayan
Insurance Company's newest innovative service.
With LOU, you
receive a transportation reimbursement of P500.00
per day, for a maximum of fifteen (15) days while
your car is undergoing repairs due to an accident
covered by the policy. Policyholders can include
this added benefit to their Motor Vehicle comprehensive
coverage for a minimum premium of P600.00.
Now you can drive
with confidence because you'll always be on the
go with Malayan and LOU.
Common
Questions
What is the Loss of Use
Cover?
It is an additional
motorcar insurance cover, which provides the policyholder
with an additional benefit of PhP500.00 a day
transportation reimbursement (up to a maximum
of 15 days per policy period) when the insured
vehicle is not available for use as a result of
loss or damage compensable under the Own Damage/Theft
cover of the policy.
Who can avail of the
benefits of the Loss of Use Cover?
Every private
car policyholder insured with Malayan under the
Own Damage and Theft cover can avail of this benefit
through the LOU Endorsement for a minimal amount
added to the basic premiums.
When will the Loss of
Use allowance start?
On the 4th day
the insured vehicle undergoes repair at any repair
shop authorized by the company, the insured is
entitled to the reimbursement of transportation
expenses equal to PhP500.00 per day for a maximum
of fifteen (15) days per policy period.
What must the insured
do in event of a claim?
Upon the filling
of a claim under the Own Damage cover, simply
fill-up part 1 of the LOU availment form which
can be secured from our Claims Department and
submit it together with a photocopy of the LOU
Endorsement to the Claims Department.
If the insured has a
CTPL cover only, can he avail of the Loss of Use
Cover?
No, he cannot.
The vehicle must be insured against Own Damage
and Theft to be qualified for a Loss of Use cover.
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