Mobile phones are the day-to-day gadget that we carry along, and those are most prone to accidental damages. We use them as per convenience, and it’s nothing different than the sole intent of using a mobile phone. Providing flexibility and comfort of usage. High worth gadgets could be connected with an insurance plan that can cover such expenses during the need of the hour.
Mobile phones like iPhone, Samsung, OnePlus etc., allow you to experience the best in technology and performance. However, users of such reputed brands are generally worried about securing themselves from mishaps considering the high prices and potential repair expenses.
Mobile phone insurance is one way to live stress-free. Incidents like loss of phone, damage to the screen, physical damage, battery damage or damages arising from liquid pose an enormous risk on these devices and might render them inoperable.
With a wide variety and unique features, top brand devices have captured a significant portion of the market across the globe, and India is not an exception to this. You may find almost every brand within mobile phones getting a good grip on the Indian market. It is not to our surprise that most of our important business or personal communications, meetings, internet access and connectivity requirements are majorly dealt with with the help of these handheld and easy to use devices.
Apple, Samsung, OnePlus etc., are the most prominent brand in this category of products, and they offer the best-in-class features. With the fantastic experience of using these mobile phones comes a responsibility to keep them secure and protect these expensive gadgets from any unwelcome incidents like theft, loss or damage.
Types of insurance plans available in the market
There are two significant types of insurance plans available in the market. They differ based on the benefits they offer. Some of the plans in the market cover the damages arising from unforeseen events. Some plans are specifically designed to provide insurance on the loss of devices.
If you want to opt for mobile theft insurance, screen protection plan, or damage protection plan from a reliable brand, Bajaj Finserv Mobile Phone Damage Protection & Mobile Screen Protection Plan are the most promising plans in the market, offering you comprehensive coverage for both mobile screen and device damage due to any accidents or liquid damages too.
Along with the serenity of mindset for being secure from unwanted expenses, the benefits of these plans also offer F-secure Mobile Security, a one-year free subscription to Zee5 and Gaana Plus Subscription, adding more entertainment to your daily life. These impressive benefits add more value to the plan when compared with the competition.
Let us look at the premium fees charged for these plans. Bajaj Finserv’s policies for safeguarding your iPhone come with an affordable price starting at Rs. 649 only. Specific to Apple as a manufacturer, it is starting at Rs. 1499 per year.
Following are the two major categories of this type of insurance offered by Bajaj Finserv:
CPP Mobile Device Protection Plan (with complementary mobile device insurance)
- Covers cost of the device (up to 100% of base invoice value*)
- Smartphones, laptops and tablets subscription could be availed
CPP Fonesafe Lite (with complementary Mobile Screen Protection insurance)
- Mobile Protect should be availed within 15 days of the device purchase
- CPP Fonesafe Lite should be purchased within 45 days of the purchase of the device
High worth mobile phones like leaders in the market viz. insure iphone, Samsung Mobiles and a few of the top-ranking mobile brands offer a variety of features, but they do impose a risk of heavy expenses when they require any repairs. This is generally observed as an understood fact amongst the users of these brands. However, when such incidents happen, which are most likely to happen considering daily usage of these gadgets. They take out a significant amount of your savings accumulated over time. Leading to financial stress and deep distress of owning expensive gadgets. Undoubtedly, owning quality devices has become a necessity for many businesses or even personal usage, considering the plethora of possibilities these devices offer. Opting for insurance on your devices to avoid stress and manage any unfortunate events like these are a way to better address these stressful events.
Few points to keep in mind before enrolling on this plan –
The coverage offered through this plan cannot exceed the actual invoice value of the smartphone being insured. Maximum 2 claims could be addressed during the membership period, subject to maximum coverage value at the time of loss. The insurer can make another claim if the first claim has incurred a partial loss. This coverage is offered complementarity through a registered General Insurance of India.
Also, depending upon the duration of usage, the disbursed amount in case of claims. Is based on the device’s depreciated amount.