Univercell launches mobile theft insurance plan

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Mobile retailer Univercell along with Oriental Insurance Company on Wednesday launched a mobile theft and damage insurance plan for all mobile units, sold from its showrooms.

"Our insurance plan will cover reasons like theft, accidental damages, fire riot, strike, malicious damage and fortuitous circumstances", Univercell Vice President and New Business Development Ramesh Barath said in Chennai.

He said the insurance period was for 12 months from the date of purchase.

"For total loss, the liability of insurer is restricted to the sum insured or the value of the new instrument on the date of claim whichever is lower", he added.

Ramesh said for partial loss, the cost of repair would be paid without any depreciation on parts replaced for loss or damage.

On premium payment, he said "once our customer gets into the insurance agreement, he/she has to pay Rs 25 for every thousand rupee", he said adding "if a customer buys a mobile for Rs 1,000 he has to pay a premimum of Rs 25 every year".

"If a customer loses his mobile, he has to produce only four documents, which includes police complaint letter, duly acknowledged by the officials concerned, purchase invoice, acknowledgement letter of sim card de-activation and submitting insurance claim form", he said.