Purchasing something that may be something which is the need of the hour for you or your most awaited gift to self, it remains precious. But, what if something would end up destroying your asset. What you need is to be financially protected against the loss or harm of your purchases. With the Purchase Protection cover, you can easily insure your purchases. The Purchase Protection insurance policy, now available on Bajaj Markets is perfect for times when you need coverage to take care of your newly bought products. So, the next time you want to go shopping you need not worry about anything!
Features & Benefits
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High Coverage
For only Rs. 199 per year, you can get coverage of up to Rs. 1,50,000.
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Cover against Financial Losses
Within 30 days of the date of purchase, you will be insured against financial loss due to burglary, accidental damage, or theft of items purchased with your credit card or otherwise.
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Easy Reimbursements
Get reimbursed for items you bought that were stolen, burglarized, or damaged accidentally.
What is Not Covered?
Purchase Protection Cover does not apply to these items:
- Items you bring with you on a trip
- Purchase protection does not cover items that have been lost or stolen from a car.
- Travelers' checks, funds, all types of tickets, negotiable instruments, bullion, rare or valuable coins or stamps, plants, animals, consumables, perishables, and services, to name a few.
- Art, antiques, weapons, and collectibles are all available.
- Purchase Protection Insurance does not cover furs, jewelry, gems, precious stones, or articles made of or containing gold.
- The purchase protection plan does not cover items that you have rented or leased.
Vehicles are used for transportation
Any motor vehicle, including cars, boats, and aircraft, as well as any equipment and/or parts required for its operation and/or maintenance
Fixtures for the home and company
The purchase protection policy covers permanent household and business fixtures only.
Purchase Protection Insurance Policy Terms and Conditions
Within the policy period, any damage or loss
- The items must be damaged or lost within the number of days specified in the policy from the purchase date.
- The scope of the policy includes items given as gifts.
- Repair, substitution, or reimbursement decision
We'll decide whether to repair or replace the item, or refund you (cash or credit) up to the amount charged to you, but not more than the original purchase price.
Reimbursement
Unless the articles are unusable and/or cannot be replaced individually, you will only be compensated for the value of the stolen or destroyed item if it is part of a pair or set.
Limitation on coverage for a lost or destroyed pair or set
Theft or damage to an item that is part of a pair or set will be treated as a single incident, and the coverage limit will remain in effect.
Product rebates, discounts, or money earned are deducted
The original cost of the item will be reduced by any product rebates, discounts, or money earned from Price Protection.
Theft claims
In the case of theft claims, you must submit an official police report to us within the appropriate time frame.
How to Apply for Purchase Protection Insurance?
Applying for a Purchase Protection 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 Purchase Protection 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
You can make a claim on your existing purchase protection insurance policy by contacting us through one of the methods listed below:
● Email: general.claims@tata-aig.com
● Call: 1800119966
Documents required during 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.l.R. (In case of Burglary and theft)
● Purchase Invoice/Payment Receipt Original Purchase Invoice/Payment Recei
● Expenses are shown on the credit/bank account statement.
● Any other conditions specified by the claim examiner.
Manage your queries related to Purchase Protection Insurance here
What exactly is a Purchase Protection Plan?
A Purchase Protection Cover is a type of pocket insurance policy that protects you from financial loss if items you've recently bought are stolen or damaged inadvertently. For only Rs. 199 per year, you can get coverage of up to Rs. 20,000. You can apply for a purchase protection plan online, and you can buy it in a matter of seconds.
When should I consider buying Purchase Protection Insurance?
Anytime you want to go shopping, a Purchase Protection Insurance Cover comes in handy. If you do a lot of shopping, you can get a buy protection plan as soon as possible. If you purchase a purchase protection policy, it will cover you in a variety of situations such as theft, lost articles, stolen items, and accidental harm.
What are the benefits of purchasing Purchase Protection Coverage?
You should get a Purchase Protection cover because it guarantees that you will not lose money if the items you purchase while shopping are stolen or accidentally damaged.
Is it possible for me to submit multiple claims?
Yes, you will file multiple claims during the contract's duration. You are covered for various repairs up to the original purchase price of the product.
Is there any kind of deductible?
There are no out-of-pocket expenses.
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