Can mobile phones be insured? If yes what are the terms and conditions of such a policy?
Dhruv Sanyal, Kolkata
Yes, mobile phones can be insured against the risks of loss of or damage to the mobile sets. The normal policy for mobile phones provides cover against Fire, Riot, strike, malicious damage, terrorist activities, Theft and Accidents. The policy is subject to certain exclusions. The insurance cover provides compensation equivalent to the cost of replacement of the instrument by a new instrument of the same specification and same capacity, including all taxes and duties.
