Nokia announces handset insurance service with New India Assurance

Nokia today tied up with New India Assurance to offer handset insurance initiative in India. The service would cover every device in Nokia’s product portfolio bought from Nokia’s branded retail store.
The service would cover theft and burglary as well as internal damage including liquid damage. However, the insurance
cover does not apply to regular wear and tear. The insurance premium will be 1.25 percent of the cost of the phone or Rs 50, whichever is higher.
Buyers will have to buy a Nokia phone from a Nokia branded retail store, pay the insurance premium and receive the insurance certificate at the store itself. To claim the insurance, users will have to report the loss to the carrier and inform the police about the loss via a written complaint.
It will have pick and drop service in six cities apart from a mail-in option. Like medical insurance it will be cashless but users will have to pay Rs 50 as service charge in case of claiming the insurance. Nokia says claims will be settled within five days.
The service will be available in 10 cities starting March 14 in NCR, Jaipur, Chennai, Hyderabad, Bangalore, Kochi, Mumbai, Ahmedabad, Pune and Kolkata.