How to Insure your Nokia Phone using New India Assurance

When you own something which is costly and you are sure you wont buy it again if that gets broken or gets stolen, you always look out for insurance. While its common when it comes to Car, House and even yourself but getting your mobile insured was something new for me as I never did it before. I have the 1020 which is pretty costly and I wanted to make sure that in case of misfortune, I don’t have to pay up the whole amount.

Nokia announced its partnership with New India Assurance few days ago which gets your Nokia Lumia phones insured for one complete year. So today I walked in one of the retailers around my area to figure out the insurance and how it works.

New Indian Insurance

Phone Check up:

This like a medical checkup which the authorized agent does for your phone to see if its in perfect condition. He looked for scratches, IMEI number, bill and so on.

Explaining the Insurance:

In a nut shell, He explained the complete process of insurance including the price which will depend on your model of the phone. There is a max of 40K insurance available, irrespective of your actual price of the phone. Here are some key points:

The insurance should be taken within a month of purchase of the mobile.
A max of 40K insurance is available.
Its an ALL RISKS Insurance which includes Fire, Lighting, Riot, Strike, Malicious Damage, Theft/Burglary, external factors like liquid. It also includes incidents which is considered as act of god like Flood, Hurricane, Storm and so on.

Exclusions: Handset used by somebody else, not connected to Mobile service provider network, caused by incorrect storage, poor care and maintenance, careless use, incorrect installation, incorrect set-up and neglect and then there is a huge list. Check with the screenshot.
There is a geographical limit which here is India.
In case of any mishap, you need to intimate the insurance company within 48 hours. Then you will have to visit the insurance company website and download few documents. These needs to filled and then submitted within 21 days.
Once everything is approved, the amount will be transferred to your bank account within 7 days.

Deprecation is a crucial factor here . For 0 to 60 days you get 85% of your insured money, 61 to 150 days its 75% and 151 days above its 45%

Insurance Document:

You get an insurance document over which has policy number, invoice no, date of insurance and signed by your and the retailer. This document includes details of claim process for damage, theft etc. It also has a scratch card which includes a unique number which you need to use when activating the insurance.

Setting up the Insurance:

The procedure was simple and quick. It took me around 20 minutes for the insurance process to complete. There is app named DailyAssurePlus which you first need to download from store and signup. You will have to provide details like name, fathers name, date of birth, IMEI number, Policy number etc. Once done, it will be activated online and an sms will be sent to your number.

Regarding this app, it seems that New India Assurance have tied with them to get the policy registration done instantly. The app can take backup of all your contact and save it to the cloud at mobicopy.in

This insurance scheme was given for free for New Lumia 1020 users who buy their phone in India in their Digital Gift Pack.

Summary : That said, the overall experience for applying and getting an insurance was smooth. Its pretty quick and all details are sent out quickly. We can only get to know the real experience when somebody gets his phone in trouble and approach them. In case any of you have registered with them and had some experience, please do share.