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TV Insurance Coverage for Your Home

Home insurance gives you the peace of mind that your cherished home is insured against perils and damages due to natural or manmade reasons. To make your home insurance more comprehensive, it is advisable to cover these high-end appliances. For instance, a television is an integral part of all our lives, when it comes to entertainment. From LEDs to Smart TVs to Home Theatre Systems, our homes are enhanced with these entertainment devices that are quite expensive to replace or repair. Also, with rapid technological advancements, the once simple and boxy television sets have evolved into sleek smart devices that connect and fulfil all our needs online.

So naturally, the more technologically advanced a TV is, higher will be its price. And greater will be the need to safeguard it against any potential damages and financial losses. A perfect safeguard against breakdown, theft or damage, of your television is to get it insured under home insurance.

Benefits

A hefty amount is usually spent on buying a TV, and so, insuring it is a good way of getting the protection you deserve in case of an accidental damage or loss. Having a comprehensive insurance policy for TVs has many benefits, as listed below:

Insurance against damage: Coverage for any financial loss due to the accidental damage of the television, which may arise due to a fire or other perils.

Insurance against theft: Coverage for losses in case of a burglary or theft

Protection of aerial parts and fittings: Policyholder gets benefits when it comes to replacing damaged fittings or parts.

Low premium: For a nominal premium amount, depending upon the cost of the television, high coverage is provided to the insured

Factors affecting Premium

The amount depends upon a lot of factors that influence the premium cost as well as the coverage that comes with it. Here is a look at the same:

Sum Insured of the television: Different premium are charged for different models of television, basis the Sum insured opted for it.

Duration: The premium amount will change as per the plan duration and coverage.

What’s Included?

Fire

Coverage offered for television against any damage due to fire.

Burglary & Theft

It’s distressing to even think about your television getting stolen. Financial Coverage is offered in case of theft or burglary

Accidental damage coverage

Damages caused due to any external accident, or any damages that are incurred while the television is in transit (not aerial) are covered by the television insurance

Mechanical or electrical breakdown coverage

Breakdown coverage due to any mechanical or electrical fault. The cost of repair and replacement is covered in this case

What’s Not Included?

Wear&Tear

Losses arising due to normal wear and tear or restoration are not covered

Manufacturing defects

Manufacturing defects or defects that arise due to the fault of the manufacturer will not be covered. The insured will have to file a claim against the manufacturer in this case

Unauthorised repairs

If you file the claim after getting the repairs done yourself,your claim will be rejected

Aesthetic defects

Aesthetic defects like scratches, stains and any issue with the material quality are not covered by the insurance

War and nuclear perils

Covers the cost of any damage to your television in case of a war or nuclear disasters

Items more than 1 year old

For televisions that are more than 365 days old from the date of purchase, the insurance is not valid, as the policy needs to be taken within the first year of purchase

Non-disclosure of fault

At the time of taking the policy, the insured should provide correct information about the product in a transparent manner. In case any important information is not provided or wilfully hidden, it will not be covered by the insurance

Wilful destruction

Damages caused wilfully by the owners are not covered under this policy. Breaking or damaging the parts accidently, like dropping them on the floor, are not covered

Wilful negligence

The insurance doesn’t cover damages caused due to wilful negligence of the owners, since the item is insured. Damages caused due to negligence of owners, like mishandling or misuse are not covered

Why HDFC ERGO?

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Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.

Why HDFC ERGO?

All the support you need 24x7

We understand that in times of distress, instant help is the need of the hour. Our in-house claims team provides round the clock support to ensure a hassle-free claim experience. We ensure to be your constant support system in times of need.

Why HDFC ERGO?

Catering to customer needs

Since, last 20 years, we have been catering to endless customer requirements seamlessly, by providing a wide range of plans and add on covers for every portfolio.

Why HDFC ERGO?

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.

Why HDFC ERGO?

Awards

HDFC ERGO has won under “Claims and Customer Service Excellence” category at FICCI Insurance Industry Awards, 2021.

Why HDFC ERGO?

Secured #1.5+ Crore Smiles

All the support you need-24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.

Catering customer needs

Since, last 20 years, we have been catering to endless customer requirements seamlessly, by providing wide range of plans and add on covers for every portfolio.

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.

Awards

HDFC ERGO has won under “Claims and Customer Service Excellence” category at FICCI Insurance Industry Awards, 2021.

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Here are ten things to keep in mind if you want to safeguard your home against theft & burglary

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Frequently asked questions

1. How do I apply for an insurance that covers television along with my Home Policy?

Applying for insurance is easy. Just fill up a simple application form on the website and get the policy document via email and regular mail to your address, after the premium payment

2.How can I pay premium? Do I need to visit the insurance office every time?

Paying the premium is very easy. You can pay it online through net banking, credit and debit cards, or wallets like Paytm, PhonePe, etc. You can also visit the branches for the same.

3. How do I file a claim in case there is a loss or damage to my air conditioner?

Filing claims and getting the insurance is an easy task. Just contact us within 24 hours of the unforeseen event to apply for the claim, and keep the policy number ready: o You can call us on 022-62346234 You will be informed about the status of your claim through SMS and emails at every stage of the claim .

4.What documents are needed to file claim?

Documents needed to file a claim include

Aadhaar Card
Passport
Driving Licence
Voter ID
Copy of the purchase bill

5. What if I do not report the damage on time and raise a claim after the expiration date of the policy, will it be covered?

Usually, it is the rule to report the claim immediately to HDFC ERGO after you suffer any damages. This helps you get a speedy settlement of the claim and the company can also successfully verify the damages on time. If, however, you delay reporting the claim and the policy date expires, there might be challenges in claim settlements.
If the claim is incurred during the coverage duration, chances are that you would get covered for the damages that you have suffered. However, unusual delays might raise a question about the authenticity of your claim. Moreover, it would be your responsibility to prove the claim incurred during the policy tenure. If you satisfy the HDFC ERGO of the authenticity of your claim and that it was incurred during the policy tenure and the delay was unavoidable, you might get the settlement of the claim.

6. If any part of the television gets damaged in an accident, will it be covered?

Yes, HDFC ERGO’s Home Shield Insurance covers accidental damages to the TV as a whole or any part of it. So, if any part of your TV gets damaged in an accident, the said damage would be covered and the repair or replacement costs would be borne by the insurance policy.
The types of accidents covered under the insurance policy include fire and related perils and external accidents when the TV is being transported from one location to another. However, a deductible of Rs. 5000 is payable by the customer for each and every claim.

7. What is the TV insurance policy period?

Usually, the TV insurance policy period is 1 year. Thereafter, you can renew the policy for continued coverage. However, HDFC ERGO’s Home Shield Insurance Policy allows you long-term coverage for up to 5 years. You can opt for the long-term plan and stay protected without the hassles of annual renewals. Also, note that manufacturing date of the equipment being covered should not exceed 10 years.

4.4. Is renewal of this Insurance possible?

Yes, renewal of your insurance policy is possible. You can renew the policy offline by walking into any of the nearest branches of HDFC ERGO. Alternatively, you can get in touch with the company’s intermediaries and renew the coverage. You would have to pay a renewal premium for the same.
HDFC ERGO reserves the right to renew the policy. The terms and conditions of coverage might change on renewals. Moreover, if the TV gets very old and cannot be insured again, the company might not allow the renewal of the coverage. Renewal is, thus, allowed on mutual consent between the insurance company and the policyholder. You would have to contact HDFC ERGO to find out if your policy can be renewed and on what changed terms.

9. What is the premium for TV insurance?

The premium for the TV insurance policy is Rs.7 per Rs.1000 sum insured. The sum insured, on the other hand, is determined as the cost of replacing the TV with the same model, same design and same kind.

10. Does TV insurance cover all brands and models?

Yes, TV insurance usually covers all brands and models provided your TV is up to 10 years old. Older models might not be covered. Moreover, HDFC ERGO reserves the right of coverage and might not allow coverage for some TVs even when they are not more than 10 years old.

11. How many times can insurance be claimed?

You can claim multiple times in the case of minor damages. However, if there is major damage, you can claim only once whereupon the policy would pay the losses that you have suffered. Moreover, in the case of minor claims too, you claim only till the sum insured is available. If the sum insured has exhausted, you cannot make any further claims.

Why choose Home Shield Insurance?

Awards & Recognition

TV Insurance Coverage for Your Home

Benefits

Factors affecting Premium

What’s Included?

What’s Not Included?

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Frequently asked questions

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