Home Credit Device Protection

•  A handset insurance protection under Home Credit Device Protection Program made available for Home Credit customers as part of their loan. It is effective on the date of  the approval of the loan.
• The benefits of the program involves indemnifying the Insured against the cost of Repair or Replacement of the Handset as detailed in the Policy Schedule where such Handset  has sustained Damage, subject to the terms and conditions herein. Insurance Company  of North America (a Chubb Company) shall only be liable to pay for a maximum of two (2) approved claims during the Period of Insurance. If the Company provides the Insured with a Replacement unit, the original Handset will become the property of the Company.

Insurance Company of North America (a Chubb Company) shall not be liable in respect of:

• Any costs or charges for which the manufacturer, supplier or distributor of the Handset are liable in accordance with their standard warranty obligations;

• Any  Damage to the Handset caused by or attributable to:

1. Damage not reported to Us within seven (7) Days of discovery;
2. Any process of cleaning, servicing, inspection, maintenance, adjustment or repair not authorized  by the Company; or
3. Any Damage caused by breach of the manufacturer’s operating or guidance instructions.

• Handset that have undergone unauthorized opening or modification;

• Breakdown attributable to or caused by:

1. The cost of repairing or replacing the Handset as a result of breakdown (due to a sudden unforeseen internal mechanical or electrical defect causing the actual breaking or burning out of a part) causing the failure of the Handset to operate as intended by the manufacturer;
2. Any malfunction resulting from incorrect use of  electricity or the incorrect setting of controls or accessories or equipment not approved by the manufacturer;
3. Any malfunction or accidental Damage resulting from incorrect installation or re-installation, faulty software or programming;
4. Any wilful act, misuse or negligent use of the Handset; or
5. Wear and tear or gradual deterioration of the Handset

• The cost of:

1. Repairing Handset with only cosmetic Damage that does not prevent its correct operation; or
2. Any costs which the Insured can recover under the conditions of any other guarantee, warranty or insurance.

• Loss of use or consequential losses incurred as a result of a claim, including but not limited to loss of profits, goodwill, income or business, or incurring related expenses, or any other indirect or consequential loss or damage of any nature whatsoever;
• Damage directly or indirectly occasioned by:

1. Natural calamity, war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power, nationalization, confiscation, requisition, seizure or destruction by the government or any public authority;
2. Ionising radiations or contamination by the  radioactivity from any nuclear waste from the combustion of nuclear fuel or the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof;
3. Pressure waves caused by aircraft or other aerial devices travelling at sonic or supersonic speeds; or
4. Damage due to leaving the Handset on the roof, bonnet, boot or any exterior part of a vehicle.

• Sanctions Clause - This Group Policy does not apply to the extent that trade or economic sanctions or other laws or regulations prohibit us from providing insurance, including,  but not limited to, the payment of claims.         

- Home Credit Device Protection Policy

• Comprehensive Accident Insurance Coverage with broad coverage
• Expert service from local underwriting and claims personnel