One of the leaders in the global smartphone market, OnePlus, has gained immense popularity in India with the launch of its new series of smartphones. According to a market study by a leading research firm, OnePlus currently holds approximately 37% of the market share, surpassing Apple and Samsung, thanks to its affordable yet high-quality products.
- 2018 saw almost 18% growth in the premium smartphone market, a significant portion of which was established as OnePlus’s sale.
However, despite being one the most integral part of everyday lives, smartphones, especially the premium ones, are extremely vulnerable to external damages. Even an incident as trivial as a fall or spill can cause extensive damage to a smartphone’s most vulnerable component, its screen.
Damage to the phone screen is often not included under factory warranty, and can incur heavy financial loss for repair or replacement. To financially protect themselves from such setbacks, users now opt for insurance covers like OnePlus insurance while purchasing their phone. These devices offer financial assistance against any loss incurred while paying for repairs of a smartphone screen.
- The cost of replacing the display of the OnePlus smartphone can range from approximately Rs.6,400 for the OnePlus 5 to Rs.15,600 for the OnePlus 7T Pro.
What is a phone screen insurance plan?
Mobile Screen Insurance policy offered by Bajaj Finserv under its Pocket Insurance & Subscriptions is one of such tailor-made insurance plans that financially cover a user against any unwanted financial loss experienced incurred repair or replacement of the display. These insurance plans offer coverage against an extensive list of incidents, including both manmade and natural calamities as well as mechanical or electrical breakdown of the screen.
What are the benefits of OnePlus mobile screen insurance plan?
- Large sum insured –
One of the most important benefits of availing a phone screen insurance policy is the sufficient sum insured. An user can benefit from a coverage of up to Rs.10,000 against only a small premium of Rs.499. It keeps the insurance policy within a reasonable price bracket, while reducing the financial strain experienced by the customer while paying for the repair.
- Convenient premium payment options –
Another advantage of such mobile insurance policy is the convenient payment method for its premium. One can pay the due amount online, using UPI or similar mobile wallets, net banking, debit or credit cards, etc. It allows a customer to clear the due amount with minimum hassle.
- Extensive coverage –
These insurance policies cover any loss incurred for repairing phone screens damaged in fire, lightning, flood, earthquake, cyclones, and other natural calamities, as well as manmade incidents like riots, strikes, explosions, etc. Insured individuals can also claim reimbursement if the screen is damaged because of robbery or burglary within the insured premises.
Further, repair costs incurred after accidental damage to the phone screen will also be covered under the insurance policy, along with any cost incurred to repair any electrical or mechanical breakdown of the phone screen.
- Simple application and claim process –
A simple application process ensures availing such an insurance policy hassle-free for prospective customers. An user only needs to –
- Visit the official website of the preferred financer and fill the online application form for OnePlus protection plan with details like name, contact details, and date of birth.
- An OTP will be sent to the registered contact number, which will be used to authenticate the purchase.
- Complete the purchase by entering the OTP in the allocated field, and pay the premium via the preferred payment method.
Similarly, the claim processes offered with such pocket-friendly insurance plans are also simple and time-saving. An insured individual can raise a claim within 24 hours of an incident, contacting the financer either via phone or email. Such contact details will be provided in the insurance documents offered to the insured.
However, an applicant will have to submit some documents while claiming the OnePlus accidental damage protection plan. These include –
- Bill/s and invoice/s to provide an estimation of the claimed amount.
- Claim form signed by the insured individual. This should contain a detailed incident report along with the extent of damage. It should also carry an estimated claim amount.
In case of damage induced during theft or burglary, a First Incident Report (FIR) will be necessary.
- Provision to extend insurance coverage –
Insured individuals can also extend the policy coverage by availing an insurance plan for accessories like the phone charger. A Mobile Charger Insurance plan offered by Bajaj Finserv covers expenses for repairs or replacement due to accidental damage and even mechanical or electrical breakdown of the insured accessory.
Similarly, one can also purchase insurance plans to financially protect other accessories, like Bluetooth headphones with the Wireless Headphones Insurance policy also offered by Bajaj Finserv.
Mobile insurance policies provide comprehensive financial coverage against one of the most essential devices for most individuals. Make sure to read the coverage terms of the insurance policy before availing.