Bajaj Allianz General Insurance has launched an 'extended warranty plan' for consumer durables, under which a customer will be able to extend the warranty period for 12 months after expiry of the manufacturer's product warranty.
The company has launched this product in association with Bajaj Finserv Lending, its release said.
"Launched in association with Bajaj Finserv Lending, this product is specifically for those customers who have availed the company's (Bajaj Finserv) zero percent interest consumer durable finance for purchasing durables of their choice," the company said.
According to the general insurance firm, the premiums for this new product will start from Rs 350 onwards.
"The cover kicks in after expiry of the manufacturer's product warranty period and will be in force for the next 12 months. The sum insured of the policy shall be equal to the invoice price of the consumer durable or appliance," Bajaj Allianz General Insurance Head (Market Management and Bancassurance) Alpana Singh said.
Bajaj Allianz is a joint venture between Bajaj Finserv and Allianz SE of Germany.