HomeShopping.pk Now Offers Insurance for Electronic Items

Home Shopping Network has partnered with Unique Insurance Brokers and UBL Insurers for their Insurance cover for Electronic Items such as Smartphones, Laptops and Digital Cameras. With this new policy, consumers will be able to have their products insured with the coverage extending to accidental damage and board failures which are more commonly known as sudden death issues.

The insurance cover for electronic items is a plan which you can purchase with your smartphone, laptop or camera. This cover protects users from a wide range of problems which include:

1. Accidental Damage: Breakage of the screen or product
2. Board failures: If the motherboard of the product stops functioning – widely known as sudden death
3. Phone being rendered useless through damage or any sort of problem (except water damage)

Basically, these are everyday problems that people face. For these common issues, it is beneficial to have an insurance plan, similar to how everyone has one for their cars, offices and homes. When you spend thousands of rupees on a product, you would also pay a little extra in order to have a sense of security so that all your money does not go down the drain due to an accidental or sudden issue.

A brief description about the policy: Customers who are interested in purchasing this policy will have to pay 5% of the total amount of the product purchased. For example, if you purchase a phone worth Rs. 50,000, you will have to pay 5% of 50,000 which is Rs. 2,500. If you purchase a phone worth Rs. 30,000, you will have to pay Rs. 1,500.

In case of any damage to your product which needs repairs and is covered under this policy, a minimum deductible of Rs. 2,000 or 5% (whichever is higher) will have to be paid (similar to how vehicle insurance works). For example, if you have a smartphone and the screen shatters, it will be covered for repairs. Let’s say the repair cost is Rs. 10,000, the customer will have to pay Rs. 2,000 from that amount while Rs. 8,000 will be paid by the insurance company.

In case of total loss of the product or damage which cannot be repaired, the insurance company will pay 50% of the amount of that product on the day the issue is reported to the customer if he/she has purchased the insurance policy.