Bajaj Finserv Mobile Insurance Reviews - Why You Shouldn't Consider Buying Mobile Insurance From the Bajaj Finserv
As there are several companies provides mobile insurance coverage each with the different price range from 500 INR to 2000-4000 INR with the options like 2-3 times screen replacement in a years, cashless insurance etc. But if we just talk about the Bajaj mobile insurance?
Bajaj Finserv brings to you device protection plans that cover you against any financial loss as a result of damage to your smartphone/laptop/tablet or mobile screen. While CPP MOBILE PROTECT (with value added services and a complimentary comprehensive mobile protection cover) offers you comprehensive coverage in case of accidental damage/liquid damage to your mobile device, the CPP FONESAFE LITE (with value added services and complimentary Mobile Screen protection) financially covers you against damages to your smartphone’s display.
A lots of people (Including me) wouldn't recommend you to buy mobile insurance from the Bajaj as I believe this might not be the fraud company but they're worst providers of mobile insurance. Let me explain you about my experience with the Bajaj Finserv mobile insurance.
When I purchased the mobile phone from financed y the Bajaj Finserv, first of all the Bajaj Finserv agent who financed my new mobile phone didn't even asked me whether I am willing to pay for the insurance premium or not? He told me that I can get the insurance along with the finance option and I thought the premium will be only cost like 400-500 INR (As because I've insured my new mobile phone several time before and they didn't charged me more then 500 for the insurance premium) but later when I was checking my loan details from the Bajaj Finserv app, I saw that that their Bajaj Finserv agent has charged me 2000 INR for the insurance of my phone. He didn't even told me about this that how much I'll have to pay for the premium but anyways, he already did that so I coun;t do anything.
Later after 2-3 months, my mobile screen was damaged and I went to the Bajaj FInserv agent to repair my phone. He told me that I need to go to the authorized service center (Samsung) where I've to repair my mobile phone and pay the full amount when I asked why I needed to pay the full amount if I am paying for the insurance? He told me that I have to repair from the authorized service center and pay all the repair charges then I've to apply for the claim and Bajaj will pay me back later. After repairing my mobile phone from the service center by paying total of 4400 INR, I submitted all the necessary documents to apply for the insurance claim. The agent said it may take up to 30-45 days but usually it takes up to 1-2 weeks to approve the claim!
The maximum claim processing time as per the agent was 45 days but after 60 days when I didn't get my claim I contacted with the agent and he told me to wait more 2 weeks. But still, I didn't get the money after another two weeks and then the agent told me that I'll get my claim amount in 2-3 days but still I didn't get my claim amount. Then, I visited several times to the Bajaj Finserv agent, called him several times, he told me that my claim still hasn't proceed and asked me to wait 1 more day and he told me that if I didn't get my claim money? He'll pay be by himself. Then after the 3-4 days the agency didn't picked my phone and I directly visited to his shop and then he told me to wait 10-15 minutes and he'll get me my claim money. So after the half an hour he transferred money to my bank account but the fact was, the total claim money was 4400 INR but he only transferred 4000 INR and he said there are some deductions like GST and other charges.
So, this is what you may face if you buy the mobile insurance from the company like Bajaj Finserv. Before you buy mobile insurance from any company make sure you check following things:
- Make sure the insurance is cashless
- Check company reviews online
- Compare insurance policies
- Assess your insurance needs
- Choose a cover that you can afford
- Evaluate the future of your insurance policy
- Check the claim settlement history of the insurance company
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