An insurance policy provides monetary compensation for any unfortunate loss or damage incurred. There are various types of insurance policies offered in the market, one being electronic insurance.
An electronic insurance plan is an insurance for electronic devices that are consumed for commercial and domestic purposes. It is generally termed as an extended warranty by the shopkeepers or sellers. Every electronic product comes with a basic warranty plan, however, it does not offer complete coverage.
Extension in the basic warranty plan comes with minimal payment but includes a wide range of perks and benefits that are beneficial for the product consumers in case of any wear or tear.
When it comes to choosing the right Electronics Appliances Insurance policy, you need to keep a few things in mind. Those are
The claim settlement ratio typically differs across various companies. A higher ratio denotes the higher credibility of the insurer.
While purchasing an Electronic Appliances Insurance Policy, it is very important for you to learn all the key features and the benefits offered by that plan. You can also compare it against other policies and finally choose the one that works best for you.
Last but not least, your budget is another important thing to remember. You should always look for a plan that fits your budget and not the other way around.
We have over 100+ clients spanning different states of India. Now is your chance to be a part of our journey.
Settle all your claims quickly and get prompt support only at Bajaj Markets.
Our team of experts are available at your service 24*7 so that you do not face any kind of problems while claiming Electrical Appliances Insurance benefits. Reach out to this toll-free number, 18002095858 to avail all the benefits of the plan.
We have different payment options available just for you so that you can complete all your transactions smoothly.
No tedious paperwork will be required if you are filing your claim. Some basic documentation can get your claim approved.
The following list highlights all the things that are covered under the Electrical Appliances Insurance plan:
Accidental Damage Due To Fire
Cost Of Repair And Replacement Due To Accidental Damages
Electrical Appliances Malfunction
Damage Due To Natural Calamities
The below-mentioned items are not included under the guidelines of the Electrical Appliances Insurance policy:
Damage Due To Pollution
Damage Due To Act Of Terrorism
Damage Incurred During Maintenance
Damage Caused During Hostile Situations
There are a few eligibility criteria that need to be fulfilled before you can apply for an Electronic Equipment Insurance Plan, which are:
You can purchase an Electronics insurance plan if you are the owner of an electrical appliance.
An organisation that leases electronic equipment.
Bankers that bear the purchase cost of the electrical equipment.
Once you have checked all the boxes, you can easily buy your Electronics Insurance Plan following these few steps:
Click on the ‘Buy Now’ option once you have decided on the product from the Electronics Insurance Plan page.
Enter all the necessary information and details in the online application form.
After you have successfully filled out and submitted the form, you will be presented with different payment options. Choose accordingly, and make the payment.
Electronics, especially smartphones, cameras and tablets, have become a very crucial life of your everyday life, so much so that a day without them is unimaginable. However, when they stop working or get damaged, the cost of repairing or replacing the same can be, at times, too much to bear. That is where electronics insurance comes into play. However, before opting for an Electronic Equipment Insurance plan, there are a few key things that you need to keep in mind.
Often, especially for those who already have homeowners or renters insurance, chances are that the electronic devices of these said individuals are already covered. Therefore, it is very crucial for you to check for any existing insurance policies that provide sufficient financial protection before buying Electronics Insurance.
Yet another important thing to look after before opting for Electronics Insurance is extended warranty benefits. Often, when you purchase any electronic appliances with a credit card such as Visa, Mastercards or American Express, it comes with an added benefit of extended warranty coverage onto the original manufacturer's warranty at zero cost. However, there are certain limitations to the coverage plan as well. Therefore, checking thoroughly before buying an Electronics Insurance plan is important.
To claim the coverage offered under this policy, you can contact the insurer via:
Visit the customer service website
Some important documents that are required while claiming the policy benefits includes:
A copy of the FIR, in case your device gets stolen
Bill or Invoice Copy of your purchase order
Filled Claim Form
Only that particular item is covered under the policy for those opting for a single-item policy. However, there are also various multi-item appliance insurance policies available in the market that you can choose from if you want to cover more than one item.
Yes, insurance companies need to verify whether you are the appliances' owner. The best way to ensure that is by producing the original receipt. However, in cases where you do not have an original receipt, you can also offer other documents, such as a credit card or bank statement.
Yes, comprehensive coverage is provided to insured appliances that may get damaged due to unforeseen circumstances such as earthquake, fire, flood and lighting.