Insurance T&C

Subject Matter of Insurance: New Mobile Handsets/ Tablets/ Laptops (Equipment) purchased along with Mobile Applications and/ or Help Services sold as Products manufactured and/ or marketed by M/s Kochar Infotech Limited (Proposer).

The policy is All Risk Insurance cover (excluding Theft & Burglary) to insured equipment for a period of one year from the date of purchase; subject to the Product purchased along with insured equipment within 15 days from the date of purchase of equipment, AND the product is installed within 7 days from the date of purchase in case of counter purchase and within 7 days from the date of delivery of equipment for online purchase.

Insured: Purchaser of the brand new equipment along with the product of the Proposer, whose name is shown in the invoice, would be termed as the Insured in the said policy. The user can be: If purchased by an Individual – Purchaser or 1st owner his/her Spouse, Parents & Children. If purchased by an Organization – Any authorized representative/employee.

Sum Insured: The Sum Insured would be the value of the purchase price (net of discounts and/ or taxes) of the equipment as shown on the face of the Invoice issued by the medium.

Policy Coverage: All Risk Insurance (excluding Theft & Burglary) against Accidental Physical Damage & Accidental Fluid Damage. Insurer in the event of following occurrence to the Insured Equipment will approve for repair or replace equipment with same or similar equipment or at their option, will arrange for payment if the equipment:

  • Suffers Accidental Physical Damage to the Insured Equipment and/ or such damage cause’s equipment to stop working.
  • Fails to work because fuid has entered its internal circuitry, resulting into stoppage of the insured equipment.

Exclusions: Following are the important exclusions under the policy. The insurer will not approve of the claim under the following circumstances:

  • Theft, snatching, burglary, stolen, lost, fallen and forgotten.
  • Loss due to intentional act or willful neglect.
  • Loss arising after 12 months from the date of purchase of the equipment
  • Any loss due to hire, or loan of the insured equipment to a third party or if ownership is transferred.
  • Loss arising due to unlawful act including Terrorist activity, War, Nuclear Explosion, Radioactive Contamination, Chemical, Biochemical, Biological, Electromagnetic, Cyber Attack etc.
  • Any loss if the insured equipment is not connected to any cellular network of service provider (only for mobiles).
  • Consequential loss of any kind or description including wear & tear, manufacturing defects, any third party liability.
  • Loss caused by incorrect storage, incorrect installation and incorrect set-up.
  • Loss covered by supplier, dealer or manufacturer’s warranty.
  • Any loss of data or software in the equipment.
  • Any loss arising outside the territorial limits of India.
  • Any loss which is cosmetic in nature and does not result in to complete stoppage of/or functioning of the equipment.
  • Any loss effecting to SIM card and any ancillary product etc, even if the equipment results into complete stoppage of working.
  • Any loss or damage to accessories and panels even if forming a part of standard pack or to any complimentary or ancillary products made available under any promotional scheme.
  • If the handset is used by a person other than the insured and relations as defined above.
  • Caused when engaged in criminal or any illegal acts.
  • If documents are found tampered; non disclosure of material facts, frauds/ miss-representations.

Policy Conditions: Insured or beneficiary shall at all times agree & declare that:

  • Will take all reasonable steps to safeguard the insured equipment.
  • Insured equipment and App is purchased on the same day or within 15 days from the date of purchase of equipment.
  • In the event of loss, declare/ disclose all material facts about the incidence or event.
  • In the event of loss, all benefits shall be forfeited, where there are any misrepresentations, mis-descriptions or non disclosures of any material facts significant to admission of liability and assessment of loss.
  • The policy is not transferable.
  • Cover granted for geographical limits within India only.
  • The claims in the policy are restricted to maximum two (02) per equipment during the policy period.

Sum Insured: The Sum Insured would be the value of the product price (net of discounts and/or taxes) of the equipment as shown on the face of the Invoice issued for the Product.

Policy Coverage: Insurance against Accidental damage & Accidental Fluid damage. Insurer in the event of following occurrence to the Insured Equipment will approve for repair or replace equipment with same or similar equipment or at their option, will arrange for payment if the equipment:

  • Suffers accidental physical damage to the Insured Equipment and/ or such damage cause’s equipment to stop working.
  • Fails to work because accidentally fluid has entered its internal circuitry, resulting in stoppage of the insured equipment.

Exclusions: Following are the important exclusions under the policy. The insurer will not approve of the claim under the following circumstances:

  • Loss; such as: lost, forgotten, and misplaced, left unattended, missing, fallen and any loss under mysterious circumstances.
  • Loss resulting from or caused by theft, or attempted theft of insured equipment, left in an unattended vehicle or room except car of fully enclosed saloon type or room, having at the time all the doors/ windows and other opening securely locked and properly fastened.
  • Loss due to intentional act or willful neglect.
  • Loss arising after 12 months from the date of purchase of the equipment.
  • Any loss due to hire, or loan of the insured equipment to a third party or if ownership is transferred.
  • Loss arising due to unlawful act including Terrorist activity, War, Nuclear Explosion, Radioactive Contamination, Chemical, Biochemical, Biological, Electromagnetic, Cyber Attack etc.
  • Any loss if the insured equipment is not connected to any cellular network of service provider (only for mobiles).
  • Consequential loss of any kind or description, including wear & tear, manufacturing defects etc.
  • Loss caused by incorrect storage, poor care and maintenance, careless use, gross negligence, incorrect installation and incorrect set-up.
  • Loss covered by supplier, dealer or manufacturer’s warranty.
  • Any loss of data or software in the equipment.
  • Any loss arising outside the territorial limits of India.
  • Any loss which is cosmetic in nature and does not result in a complete stoppage of/or functioning of the equipment.
  • Any loss effecting to SIM card and any ancillary product etc, even if the equipment results into complete stoppage of working.
  • Any loss or damage to accessories and panels even if form a part of standard pack or to any complimentary or ancillary products made available under any promotional scheme.
  • If the handset is used by a person other than the insured, as defined above.
  • Caused when engaged in criminal acts.
  • For tablets without SIM connectivity; theft/burglary is exclusion.
  • If documents are found tampered; non disclosure of material facts, frauds/ miss-representations.

Policy Condition: Insured or beneficiary shall at all times agree & declare that:

  • Will take all reasonable steps to safeguard the insured equipment.
  • Insured equipment and App is purchased on the same day.
  • In the event of loss, declare/ disclose all material facts about the incidence or event.
  • In the event of loss, all benefits shall be forfeited, where there are any misrepresentations, miss descriptions or non disclosures of any material facts significant an admission of the liability and assessment of a loss.
  • The policy is not transferable.
  • Cover granted for geographical limits within India only.
  • The claims in the policy are restricted to maximum two (02) per equipment during the policy period.

Compensation:

  • The compensation amount approved by the insurer for any Repair/ Loss/ Damage claim will be subject to Excess, Depreciation and Salvage clauses.
  • For cashless claims the payment would be done to the Authorised Service Centre or to the Proposer.
  • For Reimbursement claims the compensation amount would be paid by NEFT to the beneficiary or insured’s bank account.
  • The equipment repairs will be conducted by the authorized service centers only.
  • The claim would be settled on the basis of the lower value arrived by calculating the settlement on repair loss or on total loss basis, which means the claim would be
    settled on repair basis or BER (Beyond Economic Repair), whichever is less.
  • However in case of claim being settled on BER or Total Loss, the policy ceases to operate thereafter inviting no refund of premium as well for the unexpired period.

Excess Clause: The excess is the minimum value which shall be deducted in each and every claim.

  • For Repair Loss: the Excess shall be;
  • 10% of the claim value or INR 1000, whichever is higher for loss within 6 months from the date of purchase of equipment
  • 15% of the claim value or INR 2000, whichever is higher for loss beyond 6 months from the date of purchase of equipment
  • For Total Loss or BER loss the excess shall be 5% of the claim value or INR 1000, whichever is higher.

Depreciation:Depreciation shall be applicable on the equipment value as mentioned in the invoice depending upon the age of the equipment at the time of claim.The rate of depreciation would be charged as per following table:

Age (months) Rate of Depreciation
0-3 15%
3-6 30%
6-12 50%

Depreciation is applicable only in case of total loss. In case of partial loss (repairs) no depreciation will be applied and actual repair cost less excess shall be paid unless the compensation under the claim reaches maximum liability as per age of the equipment or repair cost is beyond economic repair.

Salvage Clause:

Repair Loss: Fixed Salvage of Rs. 200 would be deducted in each and every claim.

Total Loss or Beyond Economic Repair Claims would be settled on Net of Salvage basis. Amount towards Salvage would be deducted from the claim amount. The
damaged equipment would not be accepted or asked for as salvage.

Claim Procedure & Claim Documents:

Intimation of Claim

  • The Insured or beneficiary has to intimate/ report the loss to GizmoHelp Call Centre No. +91 9876298763 of Kochar Infotech Limited (Proposer) within 48 hrs of the occurrence.
  • The GizmoHelp Centre will note down the details and issue a reference no. of the incidence.
  • Immediately after intimation follow the claims procedure as briefed by the GizmoHelp Centre. You can download the claim documents and claim procedure from the Gizmo Help website

For Damage Claims

  • The equipment is to taken to Authorised Service Centre only and Estimate of repair to be obtained first and sent to Gizmo Help Centre.
  • In case the repair estimate is over Rs.30,000/- surveyor would be appointed by the insurer for assessment of the loss. However the insurance company reserves its right to get the claims surveyed irrespective of any amount keeping in view the exigencies.
  • Please download the complete claims process from www.gizmohelp.com and follow the instructions given there in.
  • Repairs conducted without prior repair approval shall not be considered and the claim shall be treated as non payable by the insurer.
  • The damage photographs, claim form, repair estimate of the damaged device should be submitted within 7 days from the date of damage; else the claim shall be treated as non payable.
  • The damaged device should be submitted for repair within 7 days from the date of approval from GizmoHelp/ Insurer; else the claim shall be treated as non payable.
  • The claim documents along with repair invoice should be sent for reimbursement within 15 days from the date of repair invoice; else the claim shall be treated as non payable.

The above is only a brief of the policy terms and coverage. For complete details regarding Policy Coverage, Exclusions, Claim Process, Claims Documents etc, please visit www.gizmohelp.com or call GizmoHelp Centre No. +91 9876298763(10am – 7pm)*.

Please note that the insurance cover is provided by The New India Assurance Co. Ltd. to M/s Kochar Infotech Limited, by issuing a master policy in their favour. This is not a group policy, and no separate individual policies would be issued. The insurance cover is an add-on bundled FREE along with the APPS and/ or Help services sold by Kochar Infotech Limited to their customers under their brand name. Cost of Insurance is borne by Kochar Infotech Limited

The decision of acceptance, approval or rejection of all claims will be of The New India Assurance Co. Ltd. and all communications from the insurer to the claimants related to insurance claims would be done through Kochar Infotech Limited or Financial Heights.

Claim Grievance

In case of any grievance or any complaints regarding insurance claims, please contact the following persons:

GizmoHelp
Mr. Subrat Swain
+91 9876298763
help@gizmohelp.com
Financial Heights
Mr. Inderpal Singh Bindra
+91 9654444500
Grievance@FinancialHeights.in
The New India Assurance Co. Ltd. – (311401)
Mr. Vinay Kumar Singh
011-23313278
nia.311401@newindia.co.in

Disclaimer:

For Mobile Handsets/ Tablets

“This Pack comes with a set of value added features which includes, All Risk Insurance (excluding Theft & Burglary) against Accidental Physical Damage & Accidental Fluid damage. All cost towards the Insurance feature is borne by Kochar Infotech Limited and no cost is charged to the purchaser. The product features may vary depending on product variants and are subjected to change without any prior notice.”

Insurance is the matter of solicitation.

*GizmoHelp call centre timings subject to change. Please visit www.gizmohelp.com for details