Mobile manufacturer Nokia is trying hard these days to make a comeback in the smartphone market. For the first time, the company is offering its customers a handset insurance plan with a premium starting from as low as Rs. 50. For this, Nokia has joined hands with the state-owned insurance firm New India Assurance, which will offer its customers the insurance plans.


In the initial stages, the insurance will be offered through Nokia’s branded retail stores in some selected cities and will cover theft, malicious acts, burglary and riots, among others. The insurance will also offer cover damage which is beyond the purview of the consumer’s standard warranty. The plan will be offered at 1.25% of the purchased value.

For customers to avail the insurance plan, they will have to produce a few personal details and receive their insurance certificate, along with the handout ad payment receipt at the store itself. The company will apply a deduction of 10% if the loss happens within three months of insurance, 25% within three to six months of insurance and 50% in case the claim occurs within six months to one year of insurance.

Kannan Gopal Krishnan, the director retail of Nokia India, said that there was no plan beyond one year, but they are yet to figure out certain things based on customer response.