COCO Asset Protect

Our gadgets and possessions play a vital role in our life. Any loss or damage to these can affect our life adversely as our lifestyle is becoming too dependent on these gadgets/possessions day by day.

Your possessions are special to you so should be its insurance. Our policy is designed to provide you a complete cover that can be tailor made as per your need so that you get back enjoying the benefits of all your gadgets/possessions as before.

Key Benefits
This policy provides you protection against all risks to which your gadgets/possessions are exposed to except exclusions mentioned in the policy. You can enjoy this protection for as long as 3 years without any hassle for renewal every year. If you wish to customize your cover, you can do so by opting minimum 2 covers from the following rather than all risks as covered by the policy.

Screen Damage (Items with digital screen):
It covers Accidental Damages to Digital Screen & Display of your equipment/device.

Liquid Damage:
It covers Damages to your Equipment/Device due to Accidental Ingress of any Liquid/Water.

Accidental Damage:
It covers damages to your Property by any Accidental means including Screen Damage/Liquid Damage.

Burglary & Theft:
It covers Loss of Insured Property resulting from Burglary & Theft.

Fire & AOG Perils:
It covers loss or damages due to Fire, Lightning and Natural Calamities (Act of God Perils) such as Earthquake, Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood & Inundation.

Extended Warranty:
Your Gadgets/Possessions come with Manufacturer Warranty for a limited period. Under this Policy you can cover your Gadgets/Possession against the warranty provided by manufacturer for an extended duration. This cover replicates benefits of manufacturer warranty. Cover starts immediately after expiry of manufacturer warranty and ends on expiry of policy tenure, giving you a seamless protection for extended period.

POLICY TENURE
Policy can be purchased for tenure of up to 3 years depending on your need.

EXCLUSIONS
Your policy is subject to some exclusions. Some of these exclusions cannot be covered and some can be covered on payment of additional premium but subject to our Underwriting Guidelines.

General Exclusions (That cannot be Waived) are:

1. Wear & tear, Process of cleaning, dyeing or bleaching, or from moth, vermin, insects or mildew or any other gradually operating cause.

2. Money, securities, manuscripts, deeds, bonds, bills of exchange, promissory notes, stock or share certificates, stamps,

3. War, Warlike operations and Nuclear Weapons/Material/Radiations.

4. Consequential loss or legal liability of any kind.

5. Any unexplained loss/damage/disappearance.

6. Unlawful act or illegal activities or fraudulent act by you or your representative including your family/staff member and domestic help.

7. Misuse, reckless, abusive, willful or intentional conduct associated with handling and use of the property insured.

8. Any latent / inherent defect or Recall Campaign in the event of mass failure of the insured Item(s) or any use other than in accordance with manufacturer's recommendation or use of any accessory which has not been approved by the manufacturer with the insured items.

9. Any Pre-existing conditions or cosmetic loss or damage or scratches.

10. Property insured with a Unique Identification Number that has been altered, defaced or removed, or has been modified to alter its functionality or capability without the written permission of manufacturer.

11. Any Liquid and stain damage to paintings, clothing, and home furnishing items.

12. Theft from any car except car of fully enclosed type.

13. Loss of Software and loss of data.

14. Loss or damage covered under Manufacturer warranty.

15. Loss or Damage to property insured whilst in the custody of any person other than You, Your Family or Your employee.

16. Loss or damage due to Moisture/Heating/Smoke.

17. Terrorism

18. Loss or damage caused by mechanical or electrical derangement of any item unless caused by accidental external means.

Exclusions (That can be waived) on payment of Additional Premium

1. Loss or damage due to Riot, Strike and Malicious Damage.

2. Loss or Damage to Battery.

3. Jewellery and valuables kept in bank locker or any other locker.

4. Theft or burglary from the insured premises if left unoccupied for more than 30 days.

5. Where any items insured hereunder consists of articles in pair or set, our liability shall not exceed the value of any particular part or parts which may be lost or damaged.

6. Loss or damage due to electrical, mechanical and electronic breakdown of any insured article.

7. Misplacement of property insured.

What should be the Sum Insured?
Sum Insured is the amount shown against each item in the Schedule which is our maximum liability that We shall pay during period of insurance.

You can purchase this insurance on either Replacement Value or Market Value basis. In case of Replacement value basis sum insured would be the purchase price of new item of same make/model/specification. However, insurance can also be purchased on market value basis, where depreciation on the basis of age of the item can be deducted from purchase price of new item. Once a claim is paid your sum insured gets reduced to the extent the claim is paid in the policy.

Reinstatement of Sum Insured:
You can opt for reinstatement of sum insured as well. If you opt for this then even after claim is paid, sum insured is not reduced. We will deduct proportionate premium on claim amount payable to you to maintain sum insured to its full extent. However, Reinstatement will be limited to twice the sum insured during the entire policy period.