There was a time in the nation when not every family had a television. However, times have shifted, and now most families possess more than one. It is difficult to picture a home without a TV. With a vast array of channels and content choices on OTT, television has become a significant aspect of our lives.
Television is crucial for a household, and as a result, a product specific to this electronic item has been developed, namely, TV insurance. Why is insurance for televisions vital and necessary? Technology has advanced swiftly over the last twenty years, and televisions have evolved with it. In the past, they were large bulky boxes, whereas today, we have smart and sleek televisions that provide stunning clarity. It is also worth mentioning that many models are available, some of which come at a very high price. These modern TV models are not affordable and are also delicate. They can easily be damaged, making protection essential.
Everyone strives to keep their televisions safe and well-cared for to ensure they function optimally. However, mishaps can occur unexpectedly, and we cannot always anticipate them. For incidents beyond our control, there exists TV insurance. Your home insurance policy will typically include coverage for electronic equipment, which will safeguard your television against any loss, damage, or malfunction.
Let us explore TV insurance in detail.

Types of TV Insurance

Every new television typically includes a basic warranty of at least one year, which may sometimes be extended. Once this time frame expires, you can obtain an insurance plan for your TV that will protect against potential risks. Essentially, there are two types of insurance for your television.
● An individual plan that offers coverage solely against the risks that the TV may face.
● A package insurance policy that protects all expensive items and equipment, commonly referred to as product insurance.

Covers

A TV insurance policy provides coverage for the following:
● Any damage to the TV caused by fire.
● Burglary and theft.
● Malicious attacks.
● Natural disasters like earthquakes, storms, and cyclones.
● Electrical or mechanical failures.
● Third-party liability.
● Some policies may also include accidental coverage.

Claim Process

The significance of any insurance policy becomes clear when you need to make a claim, and TV insurance is no different. In the event of any incident causing damage to the television rendering it inoperable, and you wish to file a claim, there is a specific procedure to follow. This ensures a seamless claims process with minimal chances of rejection. The following are the required steps that must be adhered to:
● The insured must notify the insurer as soon as possible and report the incident. The claim can be reported by calling the customer service number, visiting the office, or using any other method listed on the company’s website.
● All necessary documentation required by the insurance company must be provided.
● A surveyor or an agent of the insurer will come if necessary to evaluate the condition of the TV.
● If the claim is acceptable and valid according to the policy, it is settled by the insurance company, and the claim amount is disbursed to the insured.


Documents Needed for Claim Settlement

The following is a compilation of essential documents required for settling a claim:
● Copy of the policy
● Completed claim form
● Invoice for the TV
● Repair estimate
● Repair details and invoice
● Any additional documents if required
Claims under this policy are typically resolved within 30 days.

Exclusions

The following exceptions are not included in a standard policy.
● Acts of terrorism, nuclear incidents, and warfare
● Existing faults at the time the TV is insured
● Unauthorized disassembly, repair, or installation of the TV
● Only the antenna gets stolen without the TV
● Any liability the insured is obligated to assume as per the policy
● Deterioration and depreciation from normal environmental conditions
● Defects from manufacturing
● Any cosmetic defects such as stains and scratches
● Intentional damage or accidental damage like dropping parts will not be covered
● Any owner negligence

Important Aspects

Insurance providers currently offer a distinct TV insurance policy. Other methods to insure TVs and other electronic devices include purchasing a homeowners insurance policy and obtaining electronic equipment insurance, which has an upgraded version called portable electronic equipment insurance, covering all electronic devices in the home, including laptops and phones, etc.
If you would like to insure your TV and file a claim in the event of an incident, there are several crucial factors that must be considered.
● The owner takes proper care, and there is no negligence
● All repair work must be performed at an authorized service center
● All terms, conditions, and warranty policies must be thoroughly reviewed
● The TV should be positioned in the part of the home that is least susceptible to accidents
FAQs

1. What is included in the TV insurance policy?
   Any damage or loss resulting from screen cracks, voltage fluctuations, theft, fire, TV software issues, etc. , are all encompassed in the policy.
   
2. What is the policy’s duration?
   The policy can be obtained after the TV’s warranty period has expired. It is generally valid for one year, or even two or three years, depending on the insurance provider.
   
3. What is the cost of the policy’s premium?
   The premium for the policy is determined by the coverage, the TV model, the invoice value, and the selected policy term.