Watches are expensive accessories and priced collectibles for many people. Many of the watches are antique or passed down as family heirlooms. Such high-end watches can be costly to repair or replace if damaged, lost, or theft.
Thus, to safeguard your finances against accidents, burglary, or unforeseen events, buy a Watch Secure Insurance policy by CPP on Bajaj Markets at a minimal fee of ₹499 for a year.
Scroll down to learn more about the crucial aspect of watch insurance cover.
Key Features of Watch Secure Insurance Cover
Here is why having Watch Secure Insurance is essential:
How to Apply for a Watch Insurance?
Apply for Watch Secure Insurance seamlessly. Just follow the below steps:
Watch Insurance - Policy Details & Specifications
Here are some of the essential details of the watch insurance:
Coverage Limit:
Insurance coverage of up to ₹40,000 at a premium of ₹449 and complimentary accidental coverage of up to ₹15,000.
Validity:
One year
Documents Required
Here is the list of documents that you need to submit when raising the claim request:
Bill copy or invoice of the insured item
Claim intimation report within 24 hours
Travel safe membership letter
Filled up the claim form
What's Covered Under Watch Insurance?
The Watch Secure Insurance plan includes:
Burglary Coverage
Get financial coverage if you lose your wristwatch due to theft or burglary.
Coverage Against Fire and Calamities
This plan covers loss or damage to your wristwatch due to fire, lightning, or explosion. It also covers damages due to man-made or natural disasters such as riots, cyclones, strikes, and more.
Damage Cover
Get coverage of replacement or repair expenses up to the maximum sum assured value if your watch is damaged accidentally in your possession.
What's Not Covered under Watch Insurance?
Following are the exclusion of the Watch Secure plan:
Damage due to Wear & Tear
The plan does not provide any benefits if the damage happens due to wear and tear or maintenance.
Damage due to Electrical or Mechanical Failure
If the damage takes place due to mechanical or electrical failure the expense will not be covered under the plan.
Damage due to Personal Intentions
Any expenses incurred due to consequential loss or damage, will not be covered under the plan.
Note: You can only buy the best watch insurance policy for watches that are not older than a year as per the invoice date.
How to Make a Claim on Your Watch Insurance Plan
To register your Watch Insurance claim, follow the method mentioned below:
Call
For watch-related claims, call on 18002667780 or SMS ‘CLAIMS’ to 5616181. Senior citizen plan holders can call on 1800-22-9966.
Watch Insurance FAQ's
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✔️My watch was inside my vehicle when it was stolen. Can I file a claim under the Watch Secure policy?
No, unless your car was entirely locked from inside and the windows are closed, theft from inside the vehicle is not covered under the watch insurance policy.
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✔️Can I get additional benefits when purchasing this policy?
Yes, you are eligible to avail the facility of instant card blocking and emergency travel assistance with Watch Secure. So, make sure to carefully read the policy brochure to know more about the policy details.
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✔️Who provides this insurance plan?
CPP is the provider of this insurance policy. You can find this exclusive plan on the Bajaj Markets website under Pocket Insurance & VAS category.
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✔️What are the documents required to file the claim?
The policyholder is required to provide the appropriately filled claim form, invoice/bills of the watch, a copy of fire brigade report in case the damage is due to fire, an FIR copy in case of theft. Other additional documents are required depending on the incident.
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✔️What are the things that are not covered under this policy?
The things that are not covered under this policy includes -
Electrical or mechanical failure
Gradual operating costs
Consequential loss
