According to a recent study, the Indian television market is expected to cross the $13 billion by 2023. In the last few decades, the Indian television market has grown exponentially due to technological advances and rise in demand. Keeping in line with this, TV prices have also increased rapidly.
Thus, purchasing a TV insurance policy is a nifty idea to safeguard this investment from any unforeseen incidents like theft, fire, accidental damage, etc.
Reasons to purchase a TV insurance policy
LED, LCD, and smart TVs are some of the modern TV sets available in the market currently. These TV sets are equipped with a wide range of features, and they are expensive. If these TV sets suddenly suffer any damage, it will incur a hefty financial loss to the owner. Thus, to mitigate this risk along with protecting it from other unanticipated accidents, owners can purchase a TV insurance policy.
Benefits of a TV insurance cover
- A television insurance cover financially helps the owners to repair the damages in case of accidents like robbery and burglary.
- An insurance plan like this covers the appliance of the insured owners from different accidents like fire, explosion, implosion, etc. It also provides coverage against natural calamities like lightning, flood, earthquake, cyclones, etc. along with man-made disasters like strikes and riots.
- A television insurance plan provides coverage against accidental damages incurred by a TV set.
- Modern and feature-loaded TV sets are expensive to repair, and they incur a substantial repairing cost. In such scenarios, having a TV insurance policy can aid owners financially to tackle this sudden expense.
- Thus, owners who are planning to secure their television sets from any accident, as well as a mechanical breakdown and other unforeseen incidents, can purchase such television insurance in India. This insurance policy has an easy and hassle-free claiming process. Policyholders can either call the helpline number or send an SMS or e-mail to initiate the claims process.
Interested individuals can purchase a TV Insurance policy from Bajaj Finserv offered under their Pocket Insurance & Subscriptions. An owner can purchase this television insurance plan online by filling up the form. You can initiate the insurance plan by paying the premium with various payment methods available such as UPI, payment cards, mobile wallet, net banking, etc. Owners can purchase this plan for an annual premium of Rs.399 and coverage of up to Rs.50,000. Apart from that, the additional benefits of this policy include –
- It provides coverage against fire, implosion, explosion along with natural and manmade calamities.
- This policy will provide you coverage against theft and burglary along with any accidental damage occurred to it.
- It will also assist the owner financially in case their TV sets suffer any mechanical breakdown or electrical failure. The insurance provider will pay for the repairing charges as well as spare parts.
Apart from this TV insurance policy, individuals can opt for a kitchen appliances insurance plan to avail coverage for appliances like chimneys, counter-top microwave, mixers, juicers, etc. This plan protects appliances from fire, explosions, implosions, and several natural calamities like flood, cyclone, lightning, etc. It also financially protects against man-made calamities like strikes and riots. This policy also covers kitchen appliances from accidental damages and mechanical breakdowns.
In addition to the above mentioned policies, individuals can opt for a home protection insurance policy in case they are going out of town for a vacation or any other purpose. This policy is useful to protect their belongings from burglary or theft. Purchasing this plan will not only save their TV and other electronic appliances but also provide coverage for furniture, clothes, and money.