Pen Insurance

Pen Insurance policy from Bajaj Finserv can be of significant advantage for those with a premium collection of pens. The policy offers comprehensive coverage against any accidental loss or damage due to mechanical breakdown, fire, natural disasters, theft, burglary and other associated perils.

• Plan Details

  Pen Insurance offers coverage of up to Rs. 10,000 in the event of loss or damage caused to the insured pen. The policy can be purchased at a nominal premium of Rs. 399. You can choose to make the payment from any of the preferred online payment modes.
  
  Here’s a look at the plan details:
   

  Duration	1 Year
  Premium	Sum insured 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

• What’s Covered

  Here’s what’s covered in this plan:

• 

  Accidental damage or loss

  The policy offers coverage against the repair or replacement cost, if your pen gets accidentally damaged or lost.

• 

  Standard fire and special perils cover

  The policy offers coverage against loss or damage caused to your pen due to fire, lightning, explosion, implosion, riots, strikes, or natural disasters like landslides, typhoons, earthquakes, etc.

• 

  Coverage against theft, burglary, and robbery

  The plan offers coverage against any loss or damage of your pen incurred as a result of theft, burglary, or robbery taking place at your premises.

• 

  Mechanical breakdown

  Mechanical breakdown of your pen is covered under the policy.

• What’s not Covered

  Here are some of the exclusions under the plan:

• 

  Delayed insurance application

  Pens older than 30 days from the date of policy purchase as per the original invoice date will not be covered. Pen Insurance should be taken within 30 days from the date of purchase.

• 

  Loss due to pollution

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

• 

  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.

• 

  Deductibles applicable

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

Here are the steps to apply for the plan:

• Click on ‘Buy Now’ button and share your basic details in the online application form
• Check and confirm your application by entering the OTP received on your mobile number
• Pay the premium via credit/debit card, UPI, mobile wallet, or any other available online payment mode
• You will receive the details of your membership via email/WhatsApp

To raise a claim, you can 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)
• Email: 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.