What is and Why Mobile Insurance:
The insurance called mobile insurance has been recent trend among the youth to get it done. The main reason behind doing do is that the youth are getting the phones purchased of their need and the trend in the youth have seen they want phones costing Rs. 30,000 to Rs. 40,000 which is a Hugh amount and if anything happens to the phone than they might not get to it. So the phone costing more than the above should definitely be insured as the premium amount is very less in comparison with the actual cost to be incurred in case of the repairing of the phone or theft. Must read – Travel Insurance Most of the mobile companies provide 1 year of the warranty for the phone, but does not provide any cover for the theft or the accidental damage or physical damage cover, so it is advisable to take the insurance of the product. As the phone warranty is upto 1 year, but in the 1st year of the product purchase, nothing majorly happens, it happens only after using it for more than 1 year. So it is very much necessary to get the costly phones insured. Now we would see what is covered and what is not covered in insurance policy.
Coverings in insurance policy:
Damage to the phone due to fire or explosion or lightening or other circumstances.Stealing of the phones may on the road or any where else as per the policy of the company.Liquid fluid went inside the phone which caused the phone to stop down.Phone breaking during the riots or strikes.Accidental breakage damages such as fell down from your pocket which caused the screen to break down.Another unexpected situations.
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Exclusions from the insurance cover:
Intentional or wilfully done act which caused breaking of the phone.The insurance cover does not cover the wear and tear of the product due to the natural climatic situations or the atmospherical changes.Abnormal activities being carried out on the phone for may be experimenting on it.If you have handed over the phone to someone else and if breaks than the other person will not get the benefit as he is not the owner of the phone.The phone has disappeared in a mysterious way which no is aware about.Theft of the mobile from the unattended vehicles of which keeping mobiles in the storage given by the vehicles are not permitted.
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How to get the claim passed:
First and foremost you need to do is to retain the invoice of the mobile which says about the ownership of the phone.You need to file an FIR within 24 hours from the phone being lost or stolen.After filing an FIR, you need to apply for claim with relevant documents to the insurance company within 48 hours.Documents required for the process are Duly authorised and signed SIM blocking letter of your authorised telephonic company, KYC documents, cancelled cheque.The market value of the product needs to be attached with relevant proofs so it becomes easy for the insurance company for clearing the claim.
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