Overview
There has been a steady increase in the number of mobile and online transactions as payment methodologies continue to evolve. However, this has resulted in an increase in payment processing errors, hacks, and data breaches. This is why it becomes even more important to take care and not fall prey to fraudsters. And, with the Fraudulent Charges Cover on Bajaj Markets, you can protect yourself from unauthorized charges made on your credit or debit cards, as well as any unauthorized charges made on your payment card.
Features & Benefits
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High Coverage
For just Rs. 349 per year, you can get coverage of up to Rs. 80,000.
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Reimbursement for charges that were not authorized
Payment card information is used to reimburse you for unauthorized charges on your bank or credit account.
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Covers for Stolen Card
In the event that your card is lost or stolen, you will be covered.
What is Not Covered?
Advances on cash
Cash advances made with a card that has been lost or stolen
Household member's losses
Losses incurred as a result of charges made by a family member or anyone else entrusted with your money.
Unauthorized charges made after the time limit has expired
Unauthorized charges made on your credit card if it was not lost or stolen more than 24 hours before you first reported the event to your payment card issuer and 7 days after you first reported the event to your payment card issuer.
Terms and Conditions for Coverage in case of loss or theft
● Under the terms and conditions of your credit card, we will only pay for illegal charges for which you are responsible.
● Report your payment card loss or theft to the issuer(s) within three hours of finding your lost or stolen payment card.
● The terms and conditions for the issuance of your payment card must be followed.
● The plan only includes one credit/debit card. It does not provide coverage for more than one card.
● The covered member's credit card should be in his or her name. The plan does not cover any cards that belong to anyone other than the insured member.
How to Apply for Fraudulent Charges Insurance?
Applying for a Fraudulent Charges Insurance is fairly simple. You could avail the insurance instantly over a few clicks by following the below mentioned steps:
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Visit Bajaj Markets
Visit our website and go to the Pocket Insurance and VAS products page
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Select Product
Select Fraudulent Charges Insurance and click on Buy Now
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Fill Details
Fill out the full details required in the online application form
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Make your payment
Once the application is complete, make the premium payment and you’re good to go now
Claim Process
● Write to the insurer at: pocketservices@bajajfinserv.in
● Call on the toll-free number: 1800119966
Documents Required at the Time of Claim
The following is a list of documents that may be required for claim processing -
● Claim Form that has been properly filled out and signed
● Police F.I.R.
● Purchase Invoice/Payment Receipt Original Purchase Invoice/Payment Receipt
● Expenses are shown on the credit/bank account statement.
● Any other conditions specified by the claim examiner.
Manage your queries related to Fraudulent Chargers Insurance here
Why should I have Fraudulent Charges Coverage?
Having a fraudulent charges insurance policy will protect you from the financial consequences of lost payment cards or other unauthorized card usage.
Will Fraudulent Charges Cover me if I suffer losses as a result of theft?
If your payment card is lost or stolen as defined in the schedule, you will be reimbursed for any losses incurred as a result of unauthorized charges up to 7 days prior to when you first reported the event and up to 7 days after you have reported the event.
If I have my credit card on me, will I be covered?
If you have your credit card, you can request reimbursement for charges made 7 days before and after you first reported the event. These unauthorized charges, on the other hand, must be made on your bank account or credit card using the following methods:
- Telecommunications
- Withdrawals from ATMs
- Using your credit card information to make an online purchase
- In-store purchase
Our liability will be limited according to the policy schedule's occurrence and policy period limits.
Does the Fraudulent Charges Cover protect me from losses that occur after the policy period has ended?
No, the Fraudulent Charges Cover does not cover losses that occur outside of the policy era.
Does the Fraudulent Charges Coverage protect me from losses arising from my professional activities, such as my job?
Losses arising from or related to business pursuits, including your job or profession, are not covered by Fraudulent Charges Insurance Cover.
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