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Mobile retailer Univercell, along with Oriental Insurance Company, has rolled out a mobile theft and damage insurance plan for all mobile handsets. 

According to the sources, the insurance duration is for 12 months from the date of purchase. 

While commenting on the launch, Mr. Ramesh Barath, Univercell Vice President and New Business Development stated, “Our insurance plan will cover reasons like theft, accidental damages, fire, riot, strike, malicious damage and fortuitous circumstances.”

“For total loss, the liability of insurer is restricted to the sum insured or the value of the new instrument on the date of claim whichever is lower.” Mr. Barath added. 

According to the officials of Univercell, on the partial loss of handset, the cost of repair would be paid without any decrease on parts replaced for loss or damage. 

While discussing about the premium payment, the board members of the company stated that once their customer gets into the insurance pact, he/she has to pay Rs 25 every fiscal for every thousand rupee insured.

Mr. Ramesh Barath further said, “If a customer loses his mobile, he has to produce only four documents, which includes police complaint letter duly acknowledged by the officials concerned, purchase invoice, acknowledgement letter of sim card de-activation and submitting insurance claim form.”

At present, this scheme was accessible in 167 Univercell stores across south India and the company will soon plans to launch the scheme in Orissa and West.