A price protection plan is exactly what the name suggests. Imagine you bought an item at a given price only to find out a discounted version has been announced soon after, this plan will be beneficial.
Price Protection Cover from Bajaj Finserv helps you recover the extra payment made towards the item sold at a lower price. With this plan you can get a refund on the difference of price paid and the lower price printed or advertised on the same item.
Price Protection Cover offers coverage of up to Rs. 75,000 at just Rs. 399 per annum. Make the payment from any of your preferred online payment modes.
Here's what's covered under this policy:
The plan offers coverage against price difference in case the price on a printed advertisement for an item you bought is less than the price you paid.
The plan offers reimbursements on the difference between the price you paid with your debit/credit card or paid otherwise for an item, and the printed advertised price in case it’s less than what you paid for the same item (same brand, make, model name and/or number).
Here are some of the exclusions under the plan:
• Any item with an original purchase price of less than Rs. 2,500
• Art, antiques, firearms, and collectable items
• Furs, jewellery, gems, precious stones and articles made of or containing gold (or other precious metals and/or precious stones)
• Fuel or any perishable item including food, beverages, tobacco
• Pharmaceutical and other medical products, optical products and medical equipment
• Customised/personalised, unique and one-of-a-kind items
• Any items acquired illegally
• Living animals and plants
•Cash or tickets such as travellers’ cheque(s), transportation tickets, show tickets, securities and other negotiable instruments, bullion, stamps, lottery tickets or tickets to events, admission or entertainment tickets
Note: For the full list of price protection cover exclusions, please download the policy brochure here.
Here are the terms and conditions applicable under this plan:
• 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 credits, discounts 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.
Here are the steps to apply for the plan:
To raise a claim, you can contact the insurer within 24 hours of discovery of loss to obtain a claim form and instructions through one of the following ways:
• Call on the toll-free number
You can call on the 24-hour toll-free number 1800-11-9966* - 1800-266-7780 (*toll free from MTNL/ BSNL lines only) or 1800-22-9966 (only for senior citizen policy holders).
• Send an Email of SMS
You can provide with a written intimation to the call centre as soon as a claim occurs, for a prompt and effective assistance. You may also register the claim by sending below details on email@example.com or sending a SMS on 5616181 as ‘Claims’.
• Documents required at the time of claim
Here’s a tentative list of documents required for processing claims:
1. Duly filled and signed Claim Form
2. Police FIR (in case of burglary or theft)
3. Original purchase invoice/payment receipt
4. Credit/bank account statement showing expense
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):
- An original receipt of the item
- Other relevant documents that may be required including but not limited to police reports and/or the repair estimate (for damage claim only)
• Return claim form
You must return the claim form and accompanying documents to us within three days of making the original claim
• Damage claims
For damage claims, you may be required to send in the damaged item(s), at your expense, for further evaluation of your claim
• Police report
You must file a police report within 24 hours of the incident
For queries related to the policy, please write to us on email at firstname.lastname@example.org.
Disclaimer - *Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above-mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third-party products.”