Poorvika & The New India Assurance Policy

Period Of Insurance: One Year From Next Day of Mobile Purchase

We thank for your consent to cover your new mobile phone purchased at “Poorvika Mobile World” under the “Poorvika & The New India Assurance mobile / cellular phone insurance policy” arranged by us. The policy provides insurance cover for the Mobile / Cellular phone from “POORVIKA” shops.

The Policy for Mobile phones provides cover against

1. Fire.
2. Riot, strike, malicious damage and terrorist activities.
3. Theft.
4. Accident.
5. Fortuitous circumstances.

Exclusions under the mobile phone insurance policy are

• Mysterious disappearance.
• Theft from unattended vehicles, except from fully enclosed car that is securely locked.
• Theft, loss or damage during the hire or loan to a third party (ie, other than the Insured person).
• Mechanical and electronic breakdown or derangement.
• Overloading and experimentation involving imposition of any abnormal conditions.
• Damage by wear and tear, vermin, atmospheric or climatic condition or gradual deterioration, inherent defect or from any process of cleaning, repairing or maintenance.
• Loss or damage due to war or nuclear perils, loss or damage by water under any circumstances or from any water borne craft.
• Intentional or willful act of the insured party.
• Loss or damage to SIM / Memory Card / Charger / Accessories

It is mandatory to submit the following:

IN CASE OF THEFT / FORTUITOUS CIRCUMSTANCES

1. Claim form duly filled in all aspects
2. Original Complaint to the nearest police station with their numbered acknowledgment (CSR) & Non Traceable Certificate (NTC)
3. Duly Acknowledged Copy of Letter Addressed to the Service Provider for Deactivating the SIM card
4. Original Mobile Purchase Invoice and Insurance Proposer’s Details
5. Detailed letter to New India Assurance about the Incident resulting in loss/damage.
6. Letter of Subrogation Format in Rs100/- Non Judicial Stamp Paper attested by Notary Public.

IN CASE OF ACCIDENTAL DAMAGES, FIRE, RIOT, STRIKE, MALICIOUS DAMAGES & TERRORIST ACTIVITES

1. Claim form duly filled in all aspects
2. Original Mobile Purchase Invoice and Insurance Proposer’s Details
3. Detailed Letter to New India Assurance about the Incident resulting in loss/damage.
4. Estimate from the Repairer.
5. For Partial Loss – Original detailed paid bill (parts & labour) incurred for repairs. For Total Loss – Damaged mobile to be surrendered with service report issued by the repairer.
6. For loss/damage due to Fire, Riot, Strike, Malicious Damages & Terrorist activities. Original Complaint to the nearest police station with their numbered acknowledgment (CSR) & Non Traceable Certificate (NTC) in case of total loss.

BASIS OF SETTLEMENT:

1. PARTIAL LOSS : The Company indemnifies reasonable repair charges along with replacement of parts with applicable depreciation
2. TOTAL LOSS : The Company will indemnify in case of total loss like THEFT / FORTUITOUS CIRCUMSTANCES / IRREPARABLE, ( Replacement cost on the date of loss less Depreciation) or ( Policy Sum Insured less depreciation ) whichever is less.
3. Depreciation percentage applicable will depend on the age, model of the mobile ranging between 5% and 50%.
4. The sum insured should always represent the new replacement value. In case at the time of claim the sum insured is less than the new replacement value, the claim amount will be deducted proportionately.
5. An excess of Rs.500/- will be deducted for each and every claim.