Price Protection Insurance – Get Reimbursed for Extra Money Paid While Buying Product

Price Protection Insurance – Overview

Want to ensure you don’t overpay for an item you purchase? Cover yourself against financial loss in such a situation with the Price Protection cover from Bajaj Finserv. Easy online application and a hassle-free claim process make the Price Protection insurance cover ideal for when you want to shop!

Price Protection Insurance Policy Features and Benefits

High coverage limit

Get coverage up to Rs. 75,000 for just Rs. 399 per annum
Coverage for financial losses

Get covered against price difference, when the price on a printed advertisement for an item you bought is less than the price you paid
What is Covered in Price Protection Cover?
Reimbursements

Get reimbursed for the difference between the price you paid with your debit/credit card or paid otherwise for an item, and a lower printed advertised price for the same item (same brand, make, model name and/or number)
What is Not Covered under Price Protection Insurance Policy?
Items

Here are the items that are not covered:

•    Any item with an original purchase price less than Rs.2500
•    Art, antiques, firearms, and collectable items are not covered in price protection policy.
•    Furs, jewellery, gems, precious stones and articles made of or containing gold (or other precious metals and/or precious stones)
•    Any perishable item including food, beverages, tobacco and fuel
•    Pharmaceutical and other medical products, optical products and medical equipment
•    Customized/personalized, unique and one-of-a-kind items
•    Any items acquired illegally are also not covered in price protection cover.
•    Living animals and plants
Cash or tickets

Cash, travellers’ cheque(s), transportation tickets, show tickets, securities and other negotiable instruments, bullion, stamps, lottery tickets or tickets to events, admission or entertainment tickets
For the full list of price protection cover exclusions, please download the policy brochure here.

Price Protection Cover Terms and Conditions

• Printed lower price
The lower price must be on a printed advertisement

• Printed advertisement
The printed advertisement must be published within 30 days of your purchase

• Contact us about your claim
You must contact us about your claim within 7 days of the advertisement being printed

• Payment on any claim
Payment on any claim will not include merchant's credit, discount and/or manufacturer's rebates, and shipping and handling fees

• Claim payment
The claim payment will not be more than the actual amount charged for the item

Duties in the Event of a Loss

In the event of a covered loss:

• Contact us
You must contact us at 1800119966 or provide written intimation within 24 hours of discovery of loss to obtain a claim form and instructions on how to proceed

Please contact our 24-hour Toll Free Call Center on 1800-11-9966* - 1800-266-7780 (*Toll free from MTNL/ BSNL lines only) or 1800-22-9966 (only for senior citizen policy holders). Please intimate the Call Center as soon as a claim occurs, in order for us to provide you prompt and effective assistance. You may also register the claim by sending below details on general.claims@tata-aig.com or sending a SMS on 5616181 as “Claims”

Documents required at the time of claim
Below is the tentative list of documents required for processing of claims -

1. Duly filled and signed Claim Form
2. The printed advertisement proving the difference in price between purchased item and the same, lower priced item along with the date of price drop.
3. Original Certificate
4. Original Purchase Invoice/ Bills
5. Any other requirement stated by claim examiner

• Complete claim form
You must complete, sign and return the claim form to us with the following documents (and any other documents we may ask you to provide):
o An original receipt of the item
o A printed advertisement proving the difference in price between your item and the same, lower priced item

• Return claim form
You must return the claim form and accompanying documents to us within 3 days of making the original claim

How to Apply for Price Protection Insurance?

Applying for a Price Protection cover is hassle-free and quick. All you need to do is log on to our website, fill out the price protection online application form, and make the premium payment. That’s all!

How to Claim under Price Protection Cover ?

You can lodge a claim against your existing price protection insurance policy by contacting us through one of the following ways:

• E-mail - general.claims@tata-aig.com
• Toll free number - 1800119966