A well-made wristwatch with a solid time-telling mechanism and exterior worth a fortune might not fit in everyone’s budget but it will certainly throw an aura of luxury around anyone who wears it. Therefore, many have or dream of owning a stunning piece of art on their wrists. Also, some smartwatches can be connected to a health app just to show your heartbeat rate and miles that you have covered either by walking or running. These digital watches can be costly too especially when they are manufactured by leading brands like Apple! The mere thought of the luxury watch getting smashed in an accident or getting stolen during a trip might send down chills down your spine. However, with watch insurance, you can at least get the money required for getting it repaired or completely replaced!
What is a watch insurance cover?
Just like your health insurance provides financial cover to get a disease or injury treated, a watch cover will provide financial assistance when your watch gets stolen, damaged, or lost. However, damages caused due to regular use, electrical reasons, mechanical breakdowns, or intentional damage caused by the policyholder will not be eligible for a replacement or damage cover.
Why should we get a watch insurance cover plan?
Watches can be very expensive depending upon your choice of brand and material used to make the watch. Even regular watches can cost you anywhere from Rs. 10,000 to Rs 30,000. Therefore, you cannot take the risk of losing or damaging it especially if it is a luxury watch that costs lakhs of rupees. Even repairing such luxury watches will cost too much and therefore getting a watch insurance policy is not a bad idea by any means.
A comprehensive watch insurance cover plan called ‘Watch Secure’ is offered by Bajaj Finserv. It provides an extensive coverage for a wide range of damages including damage due to fire, explosion, lightning, accident, and several other incidents. It will also cover the financial loss that you suffer when it gets stolen or robbed. You can also ensure smartwatch protection by enlisting your smartwatch in this smartwatch insurance plan.
For applying to the ‘Watch Secure’ plan you can follow the below steps:
Step 1: Open the online insurance form by visiting the official website of Bajaj Finserv. Fill your details properly and submit the form.
Step 2: On submitting the form, you will get an OTP on your mobile number. Use this OTP to complete your transaction and pay the membership fees by credit/debit card, mobile wallet, UPI, or any other means of online payment.
Step 3: Once the payment is complete, you will receive the confirmation via an email.
Let’s see the important features of this watch insurance cover now:
Nominal premium
An ideal watch protection plans will provide a high coverage at a nominal premium. For instance, Bajaj Finserv offers coverage up to Rs. 40,000 for which you only need to pay a premium of Rs. 499. Apart from that, it also provides a complimentary coverage of Rs. 15000.
Traveling emergencies
While traveling, you may lose some of your valuables and your wallet can be one of them. The funds that you require during this crisis can be managed via a comprehensive watch insurance India that provides emergency assistance.
Bajaj Finserv offers such a watch cover plan that provides emergency assistance of Rs. 40,000 or Rs. 20000 depending on whether you are on a foreign or a domestic trip.
Other benefits
Apart from an extensive coverage the ‘Watch Secure’ insurance plan provides many other benefits as well. For example, you can also block your debit/credit cards instantly with a single plan if you have subscribed to this watch cover insurance. Therefore, it is certainly worth buying a watch or smartwatch protection plan like this.
