Insurance on Samsung Galaxy S III, Note II


International Marketing Services (IMS), the sole authorised distributor of Samsung mobile phones, has started insurance service for the buyers of Samsung Galaxy S III and Galaxy Note II devices.

The insurance coverage, however, will be provided to genuine Samsung products that have IMS hologram, the company said, adding the insurance will pay for any damage or physical hazard.

IMS on Thursday signed a memorandum of understanding with Everest Insurance for the service. Although the company has been providing a one-year warranty on its products, it does not cover physical damages on mobile phones, according to the company.

IMS chairman Deepak Malhotra said the insurance also provides full coverage in the event of theft of an insured handset. “However, the loss due to theft or the other way will not be covered by the insurance,” he said, adding the insurance plan will not be applicable to Samsung mobiles sold by general outlets.

The company said the insurance service will also be provided to old customers of Galaxy S III and Galaxy Note II. The company will provide the buyers with the insurance policy within a week. The company has waived the premium to be paid against the insurance for a year.

Kewal Krishna Shrestha, chief executive officer of Everest Insurance, said they were holding talks with distributors of other mobile brands for mobile insurance schemes. IMS has been selling 600-700 units of Galaxy S III and Galaxy Note  II every month.

Posted on: 2013-02-15 08:56