The service will be available on payment of a premium of Rs. 50 or 1.25% of the cost of the phone

Nokia, on Tuesday, announced a partnership with public sector general insurance company—New India Assurance— for offering its mobile phone users insurance against theft and damage of handsets.

 “Mobile phones have emerged as the consumers’ most preferred personal device and users are consistently increasing their investment in new technology. The NIA (New India Assurance) insurance plan is aimed at safeguarding Nokia consumers against the angst caused by loss, theft or damage of their devices,” Nokia India Director (Retail) Kannan Gopalakrishnan told reporters here.

 The service will be available with all new devices that are bought from Nokia branded retail store on payment of an insurance premium of Rs. 50 or 1.25 per cent of the cost of the phone, whichever is higher, at the time of purchase.

 Quoting a survey, Mr. Gopalakrishnan said about 43 per cent of Indians had their mobile phones lost or stolen in 2012.  The insurance would cover theft and burglary along with accidental physical damage, including liquid damage. However, it would not be applicable to regular wear-and-tear. Also, loss of phone when overseas or simply misplacing the handset would not be covered.

 The insurance cover would be valid for a year from date of purchase of the handset. If customers wish to renew the insurance, they would need to approach NIA directly as “the terms of insurance may differ.” The value of device for settling of claims will take into consideration the depreciation of the phone’s value.

The claims will be settled within five days, Mr. Gopalakrishnan said.

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