Mobile retailer Univercell, along with Oriental Insurance Company, has introduced a new mobile theft and damage insurance plan for all mobile handsets.

The latest insurance plan, which will be valid for 12 months from the date of purchase, will cover reasons like theft, accidental damages, fire riot, strike, malicious damage and fortuitous circumstances.

The company has informed that in case of partial loss or damage, it will pay the cost of repair without any reduction on parts replaced.

However for total loss, the liability of insurer is restricted to the sum insured or the value of the new instrument on the date of claim whichever is lower.

Under the insurance plan, the customer has to pay Rs 25 for every Rs 1000, spent towards mobile purchase. For example, if a customer purchases a mobile having cost of Rs 10,000 then, he/she has to pay a premium of Rs 250 every year for continuity of insurance plan.

If any case, if the customer has lost his mobile, then he/she has to produce/submit only four documents to take claim from the policy, which includes police complaint letter duly acknowledged by the concerned officials, purchase invoice and acknowledgement letter of sim card de-activation along with insurance claim form.

Presently, the latest plan will be available in 167 Univercell stores across south India. The company intends to launch insurance plan in coming weeks at Orissa and West Bengal.