What is an extended warranty insurance?
An extended warranty plan covers the cost of certain repairs after the standard manufacturing guarantee expires. It covers the repair or replacement costs of an insured asset that damages due to a manufacturing defect during the extended warranty period.
You can choose an extended warranty plan from the Bajaj Finance Insurance Mall. These Pocket Insurance plans can safeguard your appliances for up to 36 months, even after the manufacturer’s warranty expires.
How does extended warranty work?
An extended warranty is a service agreement that provides additional coverage beyond the manufacturer's warranty. It is designed to protect consumers from unexpected repair expenses due to defects or breakdowns. Unlike the manufacturer's warranty, a consumer can purchase an extended warranty at an additional cost.
When a product covered under an extended warranty requires repair, the consumer contacts the warranty provider, who arranges for the product to be repaired or replaced. Extended warranties come in different types and levels of coverage, so it is essential to understand the terms and conditions before making a purchase.
Why should you buy an extended warranty?
Home appliances are an expensive investment and any functional defect in them can result in a hole in your pocket. To ensure that you do not have to pay extensively for the repairing cost of appliances, an extended warranty plan can be extremely beneficial.
Key features and benefits of Extended Warranty plans
-
Extend the warranty period of your appliances
Get an extension on repair and replacement costs coverage of your appliances for 36 months. An additional extended warranty for coverage after the manufacturer’s warranty expires.
-
Annual membership fees start at Rs. 699
The membership fee depends on the appliance model and the sum insured on the invoice value.
-
Free one-time maintenance service for appliances
Get a one-time free preventive maintenance service for your purchased appliance. This includes appliance cleaning and functional checking.
-
List of appliances covered
The extended warranty plans cover washing machines, LED TVs, refrigerators, and air conditioners up to their invoice value.
-
Multilingual assistance helpline
You can call on 1860-258-3030 between Monday and Sunday from 11 am to 9 pm to get policy-related assistance in multiple Indian languages.
-
400+ services centres
This plan offers the convenience of repairing your appliances across 400+ nationwide service centres.
-
Single-call debit/credit and ATM card blocking facility
Get add-on benefit of blocking all your payment cards at one call. Call on a 24-hour helpline number 1800-419-4000 to block your lost credit, debit, or ATM cards.
Step-by-step guide to buy an extended warranty plan on Bajaj Finance Insurance Mall
-
Step 1
Click here to visit our online application form.
-
Step 2
Enter your asset details – asset category, invoice amount, and your full name and mobile number. Check the terms and conditions and click on the Get Plans button.
-
Step 3
A list of plans will appear based on your invoice amount and asset category. Select your preferred plan by clicking Buy Now.
-
Step 4
Next, you need to enter your personal details. Enter your name, date of birth, and email ID. Also, your residential address and PIN code. Proceed by clicking the ‘Next’ button.
-
Step 5
Enter some details about the asset that you are purchasing cover for. Give the manufacturer name, model name, and manufacturer warranty. Also, the asset serial number, invoice number, and date. Click the ‘Review Details’ button to proceed.
-
Step 6
Review the filled details carefully and purchase the plan. Make the payment through any of the preferred online payment modes available.
Plans and pricing for Extended Warranty
Given below are the pricing details for extended warranty plans offered through Bajaj Finance:
Extended warranty plan |
Premium |
Coverage details |
CPP Asset Assure |
Starting at Rs. 1,049 |
Up to 12 months extended warranty, post manufacturer warranty expires |
CPP Asset Secure |
Starting at Rs. 950 |
Up to 36 months extended warranty, post manufacturer warranty expires |
CPP Asset Secure (LED Panel only) |
Starting at Rs. 699 |
Up to 12 months extended warranty, post manufacturer warranty expires |
CPP Refrigerator Extended Warranty + |
Starting at Rs. 1,190 |
Coverage up to Rs. 1.5 lakh |
CPP Air Conditioner Extended Warranty + |
Starting at Rs. 1,163 |
Coverage up to Rs. 1.5 lakh |
CPP LED TV Extended Warranty+ |
Starting at Rs. 1,054 |
Coverage up to Rs. 1.5 lakh |
CPP Washing Machine Extended Warranty+ |
Starting at Rs. 1,088 |
Coverage up to Rs. 1.5 lakh |
Extended warranty plans for assets
Given below is the list of appliances for which you can get coverage for an extended warranty plan through Bajaj Finance:
Air cooler |
Digital camera |
|
DSLR camera |
Water heater |
Handy camera |
Home theatre |
Kitchen appliances |
|
Microwave oven |
Music system |
|
Printer |
||
Tablet |
Vacuum cleaner |
|
Water purifier |
|
|
How to claim your extended warranty plan?
You can follow the steps given below to claim the benefits of your extended warranty plan:
Step 1: Contact the service provider, in this case, CPP Group India.
Step 2: You can call them on their 24x7 toll-free number 1860-258-3030 to intimate your claim. Ensure contacting them within 7 days of the appliance breakdown.
Step 3: Submit the documents, as asked by the service provider.
Step 4: CPP will generate a claim number and schedule a visit from the authorised service provider for inspecting the damaged device.
Things to keep in mind when buying extended warranty plans for your appliances
When purchasing appliances for your home, it is essential to consider buying an extended warranty plan to protect your investment. However, before making a decision, it is important to keep the following things in mind:
Consider the type of appliance that will benefit from extended warranty coverage.
Research the warranty provider's reputation, customer service, and network of repair technicians.
Compare warranty plans from multiple providers to find the best value for your money in terms of coverage, cost, deductibles, and terms and conditions.
Consider the overall cost of the appliance and the length of coverage offered by the warranty plan.
Read the fine print of the warranty plan to understand the limitations and exclusions of coverage.
Consider extended warranty plans that offer more than just repair coverage, such as replacements in case of irreparable damage or breakdowns.
Frequently asked questions on Extended Warranty plans
CPP’s Asset Secure offers an extended warranty to secure your valuable assets. You can get assistance to manage unexpected expenses against service benefits for your valued home and personal appliances.
You can avail yourself of the benefits of asset insurance plans by paying a one-time membership fee. The plans are generally available for terms of 1, 2 and 3 years.
CPP Asset Assure appliance extended warranty plans cover AC, refrigerators, LED TVs, and washing machines.
CPP Asset Assure is an extended warranty plan. The plan covers the repair and replacement cost of appliances after the manufacturer’s warranty has expired. Basically, it gives you financial coverage for any damages caused to the appliance post the manufacturer’s warranty period. Also, it offers you an additional feature of blocking your cards at a single call.
Yes. You can block your lost/stolen debit or secure yourself from credit card fraud with a single call. Call on the 24-hour toll-free number 1800-419-4000 to block all your lost payment cards. This is an additional feature offered by the CPP Group India. Protect yourself from ATM fraud and avoid being a victim of it.
The primary advantage of having an extended warranty is that it provides additional coverage beyond the manufacturer's warranty. This means that if your product develops a fault due to defects or breakdowns, you will not have to pay for repair or replacement costs out of pocket. Extended warranties also provide peace of mind and protection against unexpected expenses for a longer period.
The value of an extended warranty depends on several factors. This includes the product's cost, frequency of use, and the length and type of coverage offered. If the product is expensive and heavily used, an extended warranty may be worth it. It is essential to research the provider's reputation and network of repair technicians before deciding if it is worth the cost. Also, go through the terms and conditions of the plan.
Yes, there are a few service providers that provide an extended warranty when buying the product. Some providers may have specific time frames within which you can add the extended warranty. While others offer the option to add it at any point during the manufacturer's warranty period.
