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Information on Insurance |
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Computer Shield - A Comprehensive
Laptop Insurance |
Eligibility
All qualified purchases of brand new laptop from all the participating polytechnics
in this tender |
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Geographical Limits
Anywhere in Singapore |
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Coverage
Computer Shield covers loss or damage resulting from
- Fire
- Vandalism
- Lighting
- Power Surges(leading to fire)
- Accident(e.g. Water spillage, Drop and etc)
- Theft/Robbery
- Misplacement(Limit up to 20% of the Insured Value)
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Exclusions
This insurance does not cover loss or damage arising from
- Unattened Equipment
- Unexplained or Mysterious Circumstances
- Mechanical Breakdown
- Normal Wear and Tear
- Loss of Data
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Period of Insurance
- 12 months
- 24 months
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Premium for Laptop Value Below
S$2,000
- S$48.00 per Laptop
- S$68.00 per Laptop
Premium for Laptop Value Between S$2,000 to S$2,500
- S$52.00 per Laptop
- S$72.00 per Laptop
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Note:
- Premium quoted is inclusive of
GST
- Subject to Condition Precedent
- Subject to policy terms and conditions
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Claims Settlement
(1)Damage
- Insurer will pay the full repair cost less the policy excess of S$250.00
Example:
Repair bill: S$850.00
Less Excess: S$250.00
Compensation: S$850.00 - S$250.00 = S$600.00
(2)Theft/Robbery
- Insurer will pay the full replacement cost less the policy excess of
S$500.00
Example:
Sum Insured: S$2,000.00
Less Excess: S$500.00
Compensation: S$2,000.00 - S$500.00 =
S$1,500.00
(3)Misplacement
- Insurer will pay 20% of the Sum Insured
Example:
Sum Insured: S$2,000.00
Compensation: 20% x S$2,000.00 = S$400.00
(4)7
working days settlement
Upon the full set of claims documents submitted, the insurance company will
revert on their decision for any valid claim within
7 working days
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Frequently Ask Question |
Q : How is this insurance different from a warranty?
A : Manufacturer's warranties and extended service plans only cover manufacturer's
defects or internal mechanical breakdown. These warranties do not cover due to fire,
theft, floods or accidents.
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Q : Do I need to install expensive security precautions?
A : No, we do not require any special security measure to be taken before
accepting your application.
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Q : Can i purchase the insurance later?
A : Yes, but it must be within three months from the date of purchase of
laptop. The cover will take effect only at the date of policy inception and there
is strictly no coverage for events that occur prior to the date.
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Q : What happens if my laptop is stolen?
A : First, you must make a police report on the loss within 7 days of discovering
the loss. Next, call us with information on the loss and we will send a claim form
to you.
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Q : What is Excess?
A : Excess is the first and only amount that the student need to bear upon
a valid claim. They have to bear the first S$250 in the event of damage and the
first S$500 in the event of a complete loss due to theft.
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Q : Which Insurance Company underwrites Computer Shield Insurance?
A : The insurance scheme is underwritten by Maybank General Assurance Berhad
which is a member of the Maybank Group, Malaysia's largest financial services group.
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For more information,
please contact Mavis Huang from Insurance Solutions at 6737 9928 Ext. 111 or email her at tertiary@ins-solutions.com.sg
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Brochures can be obtain here |
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