UniverCell launches insurance plan for cell phones

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Bangalore, Oct 15 (UNI) 'UniverCell,' a group of mobile retail shops, today launched its mobile theft and damage insurance plan.

Talking to newspersons here, company founder Satish Babu said the introduction of India's first mobile insurance plan, along with Oriental Insurance, was aimed to curb the menace of theft of handsets.

''Our insurance will cover all possibilities like - theft, accidential damage, fire, riots, strikes, malicious damage, terrorist activity and fortuitous circumstances,'' he said.

He said India has over 30 crore mobile users, and research indicates that every month more than 20 lakh mobile phones are lost.

The market of stolen mobile phones is so lucrative and the second-hand market was estimated to have an annual turnover of Rs 200 crore in India, he said.

The insurance plan would be a benefit to customers at no extra charge added, he said.

The period of insurance is for 12 months from the date of purchase, he added.

UniverCell would open 300 showrooms by March 2009 to attain the target of 1,000 showrooms all over India by 2010, he said.

UNI SIV DS 1543

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