Pen Insurance

If you are someone who has a premium collection of pens, the Pen Insurance policy from Bajaj Finserv can be of significant advantage. The policy offers comprehensive coverage for your pen against any accidental loss or damage due to mechanical breakdown, fire, natural disasters, theft, burglary and other associated perils.

• Features and Benefits

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  High Sum Assured:

  You can claim up to Rs.10,000 as compensation in the event of loss or damage caused to the insured pen. The policy can be purchased for a nominal premium of Rs. 399.

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  Easy Application Process:

  A Pen Insurance policy can be purchased online in a hassle-free manner. The payment of premium can be made using any of the online payment modes available.

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  Pen Insurance Pricing

  Duration	1 Year
  Premium	Sum insured of up to Rs.10,000 at just Rs.399
  Deductible	5% of the claim amount, subject to a minimum of Rs.1,000 for each claim

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• What Is Covered Under Pen Insurance?

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  Accidental damage or loss:

  This insurance policy offers coverage against accidental damage or loss of your pen. This means, the insurer will pay for the repair or replacement cost if your pen gets accidentally damaged or lost.

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  Standard Fire And Special Perils Cover

  Loss or damage caused to your pen due to fire, lightning, explosion, implosion, riots, strikes, impact damage, and natural disasters like landslides, typhoons, earthquakes, etc.

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  Coverage against theft, burglary, and robbery:

  This policy covers any loss or damage of your pen incurred as a result of a theft, burglary, or robbery taking place at your premises. This means, if your pen is stolen by somebody the cost will be borne by your insurer.

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  Mechanical Breakdown:

  Mechanical breakdown of your pen also comes under the coverage of the policy.

• What Is Not Covered Under Pen Insurance?

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  Pens older than 30 days

  Pens older than 30 days from the date of policy purchase as per the original invoice date.

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  Loss Due To Pollution

  Loss or damage of the pen due to pollution or contamination is not covered.

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  Loss or Damage Due To Terrorism

  Damage or loss caused to your pen, directly or indirectly, as a result of an act of terrorism.
  
  To read the complete list of inclusions and exclusions of the policy, please refer to the policy document.

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  Delayed Insurance Application

  Pens older than 30 days (as per the original invoice date) will not be covered.

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  Deductibles Applicable

  The deductible for the first 5% of each claim amount is subject to a minimum of Rs. 1,000 for sum insured up to Rs. 20,000, or Rs. 2,000 for sum insured more than Rs. 20,000 up to Rs. 50,000. These slabs apply to every claim raised unless revised or altered by the insurer in the Certificate of Insurance.

The Pen Insurance policy can be purchased online by filling in the online application form and making the premium payment using your preferred mode of payment. Here’s the step-by-step process.

Step 1: Fill in the online application form with your full name, date of birth, and mobile number.
Step 2: Authenticate your purchase by entering the OTP received on your phone number.
Step 3: Complete the payment process using mobile wallet, credit card/debit card, mobile wallet, or any other preferred mode of payment.

You can claim for compensation under this policy up to the sum insured amount if your pen is lost or damaged as a result of any of the reasons covered under the policy. You must intimate the insurer within 24 hours of discovering the loss or damage of the insured pen through any of the following modes:

• Call 1800 209 5858 (24-hour toll-free helpline number)
• Write an email to bagichelp@bajajallianz.co.in
 

Once you inform the insurer about the claim you need to submit all the relevant information pertaining to your pen insurance claim, including policy information and other claim-related details.

Note: In case of theft and burglary, file an FIR at the local police station within 24 hours of discovering the loss.

• Duly filled and signed claim form
• Incident report by the customer
• Original and copy of the invoice bill of the pen
• Copy of the report from the Fire Brigade, in case of fire loss
• Copy of the FIR, in case of theft or burglary

Besides these, certain other documents may also be required at the time of claim settlement.