Watch insurance: Know Coverage, claim process, & exclusion

If you are a watch lover or simply like to flaunt an expensive watch, then you should be aware of the financial stress you can go through in case your watch gets stolen or damaged. The cases of thefts have also increased nowadays especially due to the high demand for expensive luxury watches in the market. If you also own an expensive watch, you must subscribe to a comprehensive watch insurance policy.

Though there are many watch cover insurance plans in India, the watch cover from Bajaj Finserv is preferred by many due to the wide range of options and benefits it provides to the customers. This is because of the high coverage amount it provides at a minimal premium. The main highlights of this watch insurance policy are explained below:

Get complete watch protection

  • If your watch gets stolen by a thief then don’t worry as this watch insurance policy from Bajaj Finserv has got you covered for this.
  • Also, any repair or replacement costs that you will have to bear due to the accidental damage or collisions will be reimbursed immediately provided that the watch was under your possession during the incident.
  • The financial burden that you will face due to the watch damage caused due to lightning, explosion, fire, and other natural calamities will be covered under this policy. It also includes the coverage for man-made disasters like strikes, riots, etc.

Get your trips covered

  • If you lose your prized possessions like wallet, payment cards, etc. along with your watch, then you can stay calm as this watch cover insurance also provides you with the option of blocking all the payment cards instantly. For that, you only need to make one call and all your debit and credit cards will be blocked or suspended at once.
  • Also, on being stranded, you will get emergency financial cover to pay your hotel expenses, travel expenses, etc. for both domestic and foreign trips. This assistance will be up to Rs. 20,000 for domestic trips and up to Rs. 40,000 for international trips.

Easy claim process

  • The watch cover from Bajaj Finserv comes with a simple and uncomplicated process. You only have to call a toll-free number or connect with the support team via an SMS.
  • Along with that, you will need to submit the documents and evidence you need to provide to substantiate your claim. For travel assistance and card blocking services, you need to connect with the support team through an email or telephone within 1 day of the occurrence.

High insured amount

  • After subscribing to the watch insurance policy from Bajaj Finserv, you don’t have to bother about any expenses as a high coverage amount of up to Rs. 40,000 is provided to settle the replacement and repair costs that you need to bear due to an accident or theft.
  • A complimentary watch security cover of up to Rs. 15,000 is provided by this watch secure plan.

Easy online application

  • Applying to the watch secure plan from Bajaj Finserv is now easy as you just need to submit an application form online.
  • Also, the payment process can be completed via debit card, credit card, net banking, UPI, mobile wallet, etc. This means that it is quite easy to subscribe to this insurance cover.

Things that are excluded from this watch cover policy are listed below:

  • Mechanical and electric damage are not included in this plan
  • Damages caused by intention, misplacement, and improper usage of the watch are not covered
  • The cost that you may need due to bear due to wear and tear will not be reimbursed by the watch insurance cover from Bajaj Finserv

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