Terms & Conditions
Terms And Conditions
1. Eligibility
• Coverage: The insurance policy is available for second-hand mobile phones purchased through authorized shop owners and partners.
• Inspection: The mobile phone must undergo a pre-insurance inspection and meet the condition criteria set by the insurance company.
• Age of Device: The device should not be older than three years from the date of original purchase.
2. Coverage Period
• Duration: The insurance coverage begins 48 hours after the date of purchase and lasts for the duration specified in the policy document.
• Renewal: Renewal of the insurance policy is subject to a re-inspection and approval by the insurance company.
3. Coverage Exclusions
• Theft: This insurance policy does not cover the theft of the mobile phone. • Pre-existing Damage: Any damage identified during the pre-insurance inspection is excluded from coverage. • Misuse or Negligence: Damage caused by misuse, negligence, or unauthorized repairs is not covered. • Intentional Damage: Any intentional damage or fraud will void the policy
4. Claim Process
• Notification: In the event of a claim, the policyholder must notify the insurance company within 48 hours of the incident.
• Documentation: The claim must be supported by necessary documentation, including a detailed description of the incident, proof of purchase, and the pre-inspection report.
• Inspection: The insurance company reserves the right to inspect the damaged phone before processing the claim.
5. Deductibles
• Amount: A deductible amount, as specified in the policy document, will apply to each claim.
• High-Value Phones: For high-value phones, a higher deductible or processing fee may be required.
• Payment: The deductible must be paid by the policyholder before the claim is processed.
6. Policy Activation
• Activation Period: The insurance policy will become active 48 hours after the purchase date.
• Shop Owner Responsibility: If any damage occurs within the first 48 hours after the purchase, the shop owner will be responsible for the damage and not the insurance company
7. Policy Transfer
• Non-transferable: The insurance policy is non-transferable and applies only to the original owner and the insured mobile phone.
8. Inspection and Reporting
• Shop Owner's Responsibility: The shop owner is responsible for conducting a thorough inspection of the mobile phone and providing an accurate report before selling the insurance.
• Discrepancies: Any discrepancies in the inspection report may lead to denial of claims.
9. Payment Terms
• Premium Payment: The shop owner must pay ₹100 per mobile phone to the insurance company at the time of insurance issuance.
• Secure Payments: Payments should be made through the designated secure payment gateway provided by the insurance company.
10. Limit of Liability
• Maximum Liability: The maximum liability of the insurance company is limited to the market value of the mobile phone at the time of the claim, subject to policy terms and conditions.
11. Fraud and Misrepresentation
• Policy Termination: Any fraudulent activities or misrepresentation of facts by the policyholder or shop owner will lead to immediate termination of the policy without any refund.
• Legal Action: Legal action may be taken against the involved parties.
12. Dispute Resolution
• Arbitration: Any disputes arising from or related to the insurance policy will be resolved through arbitration in accordance with the rules of the local arbitration authority.
• Final Decision: The decision of the arbitrator will be final and binding on all parties.
13. Governing Law
• Jurisdiction: The insurance policy is governed by and construed in accordance with the laws of the jurisdiction where the policy is issued.
• Legal Actions: Any legal actions related to the policy must be brought in the courts of the said jurisdiction
14. Amendments
• Policy Changes: The insurance company reserves the right to amend the terms and conditions of the policy at any time with prior notice to the policyholder.
• Effective Date: Any amendments will be effective from the date specified in the notice
15. No Refund Policy
• Non-Refundable Premiums: All premium payments made towards this insurance policy are nonrefundable under any circumstances.
16. Device Value Declaration
• Accurate Information: The policyholder must declare the accurate value of the mobile phone at the time of purchasing the insurance.
• Proof of Value: The insurance company may require proof of value, such as purchase receipts or market evaluations.
17. Repair and Replacement
• Authorized Repairs: All repairs must be conducted by authorized service centers approved by the insurance company.
• Replacement Devices: If a replacement is provided, it will be of similar make and model, and may be refurbished.
18. Device Modifications
• Prohibited Modifications: Any modifications or alterations to the device that are not authorized by the manufacturer will void the policy.
• Software Alterations: Unauthorized software alterations, such as rooting or jailbreaking the device, are prohibited and will void the policy.
19. Claim Limits
• Maximum Number of Claims: The policyholder is limited to five claims per policy period
. • Claim Approval: Subsequent claims will be subject to more stringent review and approval processes.
20. Policy Cancellation
• Voluntary Cancellation: The policyholder may cancel the policy at any time, but no refunds will be provided.
• Involuntary Cancellation: The insurance company reserves the right to cancel the policy for noncompliance with terms and conditions, or for fraudulent activities.
21. Data Privacy
• Information Use: The policyholder's personal information will be used solely for the purpose of administering the insurance policy.
• Data Protection: The insurance company will protect the policyholder's data in accordance with applicable data protection laws.
22. Communication
• Contact Information: The policyholder must provide accurate contact information and promptly notify the insurance company of any changes.
• Official Communication: All official communication will be conducted via the contact information provided by the policyholder.
23. Policy Documentation
• Policy Issuance: A copy of the insurance policy will be provided to the policyholder upon purchase.
• Policy Updates: Any updates or amendments to the policy will be communicated to the policyholder in writing.
24. Policyholder Obligations
• Maintenance: The policyholder must maintain the mobile phone in good working condition and take reasonable precautions to prevent damage.
• Immediate Reporting: Any incidents or damage must be reported to the insurance company immediately to ensure timely processing of claims.
25. Excessive Claims
• Review: Policyholders with excessive claims may be subject to additional review and potential policy adjustments or non-renewal.
26. Shop Owner Compliance
• Responsibility: Shop owners must comply with the insurance company's guidelines and standards when selling the insurance.
• Inspection Accuracy: Shop owners are responsible for providing accurate inspections and reports of mobile phones.
• Fraudulent Activities: Any fraudulent activities or discrepancies by the shop owner will lead to immediate termination of their partnership with the insurance company.
27. Shop Owner Termination
• Termination Clause: Shop owners found engaging in fraudulent activities, misrepresentation, or non-compliance with terms and conditions will be removed from the insurance company's network.
• Non-Eligibility: Terminated shop owners will no longer be eligible to offer insurance policies to their customer
28. High-Value Phones
• Higher Deductible: For high-value phones, a higher deductible or processing fee may be required.
• Policyholder Responsibility: The policyholder must be aware of and agree to the higher deductible before the policy is issued.
By purchasing the insurance policy, the policyholder agrees to abide by the terms and conditions outlined above. For any queries or assistance, please contact our customer support team.