FGB is launching a new insurance service for UAE residents, which offers a year-long protection plan for their smartphones and tablets.
Gadget Protect provides coverage for a range of circumstances which would not be covered by most extended warranties, such as theft and accidental damage, and will be launched during Gitex Shopper 2014.
The UAE is one of the world’s leading countries in terms of use of smartphone and tablets, with a penetration rate of 52 per cent at the end of March 2014, according to the Telecommunication Regulatory Authority (TRA).
With the increased use of smart gadgets, residents have become more aware about the importance of securing their purchases.
A recent survey by Kaspersky Consumer Security Risks revealed that around 35 percent of gadget users in the country reported lost, stolen or damaged devices from 2013 to 2014.
These incidents pose a serious risk as customers commonly use their smartphones to store personal data, photos and other content.
Gadget Protect insures products worth up to Dh3,000, covering the cost of repairs and replacements for various circumstances not covered by the manufacturer’s warranty, including cracked screens and liquid damage. The policy also offers a price guarantee feature which protects against an advertised price-drop for 90 days from the date of purchase of the device.
Gadget Protect offers important security features for users, providing compensation for fraudulent charges made via phones or tablets, false calls made by use of the SIM card, in addition to legal expenses and time away from work that a customer is subjected to in the case of identity theft.
Furthermore, the ‘Lost Wallet’ feature covers the fees of replacing all personal and official cards that are lost if a customer misplaces their wallet.
Girish Advani, Head of Mass Markets at FGB, said, "In our endeavour to deliver smart and affordable insurance solutions to our customers, FGB has launched another "first" for the market.
“With Gadget Protect, customers can protect their phones as well as their tablets for less than Dh1 per day. For many residents, smartphones and tablets are an integral part of their everyday life and having the peace of mind that their devices are covered is a worthwhile investment."