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Purchase Protection Cover

Purchase Protection - Overview

Want to protect yourself financially against loss or damage to your purchases? Insure your purchases easily with the Purchase Protection cover from Bajaj Finserv. A quick online application process and hassle-free claim settlement make the Purchase Protection insurance policy ideal for when you want to go shopping and stay worry-free!
 

 

Purchase Protection Plan Features and Benefits

  • High coverage limit

    Get coverage up to Rs. 1,50,000 for just Rs. 199 per annum

  • Easy reimbursement

    Get reimbursed for items that you purchase, from loss due to burglary, theft or accidental damage

  • What is Covered in Purchase Protection Cover?

  • Coverage for financial losses

    Get covered against financial loss due to burglary, accidental damage, or theft of items that you purchase with your payment card or otherwise, within 30 days from the date of purchase

  • What is Not Covered in Purchase Protection Cover?

  • Items

    These items are not covered under Purchase Protection Cover:

    •    Items carried with you during a trip
    •    Items that were lost or stolen from a vehicle are not covered under purchase protection cover
    •    Travelers cheque(s), cash, tickets of any kind, negotiable instruments, bullion, rare or precious coins or stamps, plants, animals, consumables, perishables and services
    •    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) are also not covered in Purchase Protection Insurance plan.
    •    Items you have rented or leased are also not covered in purchase protection plan
    •    Used, rebuilt, refurbished, or remanufactured items at the time of purchase

  • Motor vehicles

    Any motor vehicle including automobiles, boats and airplanes, and any equipment and/or parts necessary for their operation and/or maintenance

  • Household and business fixtures

    Permanent household and/or business fixtures are not covered in purchase protection policy

    For the full list of purchase protection cover exclusions, please download the policy brochure here.

Purchase Protection Insurance Policy Terms and Conditions

Damage or loss within policy period
The damage or loss of the items must be within number of days as specified in the policy from the purchase date

Gifts
Items given as gifts are included within the policy scope

Decision for repair, replacement or reimbursement
We will decide whether to have the item repaired or replaced, or to reimburse you (cash or credit) up to the amount charged to you, not exceeding the original purchase price

Compensation
If the item is part of a pair or set, you will only receive compensation for the value of the stolen or damaged item unless the articles are unusable individually and/or cannot be replaced individually

Coverage limitation for lost or damaged pair or set
The theft or damage of an item that is part of a pair or set will be viewed as one occurrence and the coverage limitation still applies

Deductions of product rebates, discounts or money received
Product rebates, discounts or money received from Price Protection will be deducted from the original cost of the item

Theft claims
For theft claims, you must provide an official police report regarding the incident to us within the required time frame
 

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 [email protected] 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. Police F.I.R. (In case of Burglary and theft)
3. Original Purchase Invoice/Payment receipt
4. credit/Bank account statement showing expense
5. Any other requirement stated by claim examiner.

Completing 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  Other relevant documents we may ask you to provide, including but not limited to police reports and/or the repair estimate (for damage claim only)

Returning the claim form
You must return the claim form and accompanying documents to us within 3 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
 

How to Apply for Purchase Protection Insurance?

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

How to Claim under Purchase Protection Cover?
 


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

• E-mail - [email protected]
• Toll free number - 1800119966

 

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