Under the AMC SQUARE Extended Warranty Program, the policy is an contract, extended through Wise Machines India Pvt Ltd. and it covers the cost of repair/ replacement of consumer durable appliances arising out of unforeseen manufacturing defects or poor workmanship during the Policy Period of 12 months.
Manufacturer’s Product Warranty is a limited warranty provided by manufacturer of the product that covers manufacturing defects in the product.
Manufacturer’s Product Warranty Period refers to the period during which Manufacturer’s Product Warranty is applicable for the specific product. For majority of the consumer durable appliances, manufacturer’s product warranty is usually offered for a period of 6 months to 12 months. Please note that some parts of a particular product might have a different warranty period as compared to the overall product. As an instance, compressor (a part of refrigerator) has a usual warranty period of 5 years whereas the common warranty period for all other parts of the refrigerator is 1 year. Accordingly, 1 year shall be considered as the Manufacturer’s Product Warranty Period for this case. What are the main exclusions of AMC SQUARE Extended Warranty Program?
1.Deductible – 10% of the claim amount, subject to a minimum of Rs. 500 in respect of each and every claim. 2. Loss or damage arising out of the insured asset not being used in accordance with manufacturer’s instructions. 3. Loss or damage for which the manufacturer of the insured asset is responsible under a guarantee and/or warranty. 4. Replacement of any consumable item of the insured asset, including but not limited to batteries, bulbs, plugs, cables, ribbons, belts, tapes, fuses, filters, toner or software. 5. Failure of parts which are subject to recall by manufacturer of the insured asset. 6. Loss or damage arising out of any external cause, including but not limited to fire, theft, explosion, water damage, acts of God etc. 7. Where the Insured asset is subject to commercial, rental or profit generation purposes. Other exclusions as per policy.
The primary reason for buying an Extended Warranty Policy is to have extra protection for valuable appliances after expiry of the manufacturer’s product warranty period. For majority of the appliances, manufacturer’s product warranty is usually offered for a period of 6 months to 12 months. After expiry of this period, the customers are likely to incur significant expenses if the particular appliance fails. However, with the help of our Extended Warranty Program, you can enjoy comprehensive protection for your valuable appliances for a period of 1-5 Years even after expiry of the manufacturer warranty period.
The Policy Period will commence on the expiry of the Manufacturer’s Product Warranty period and will be in force for the next 1-5 Years. As an illustration, let us suppose that you bought an Laptop on 1st January 2012 with 3 years extended warranty plan,with a Manufacturer’s Product Warranty period of 1 year. Your Extended Warranty policy will commence on 1st January, 2013 and will be in force for the next 2 years and shall expire on 31st December, 2014.
Yes the policy is Transferable and renewable.
TIf you are interested in opting for the Extended Warranty Program, please fill in the necessary details in the Extended Warranty proposal form and pay the requisite premium amount. Subsequently, the customer would be given an Extended Warranty kit, which will include policy wordings as well as a carbonated version of the filled in proposal form. Within a few days of buying an Extended Warranty policy, AMC SQUARE will dispatch the Policy schedule at the mailing address (as mentioned in the proposal form) of the customer. Please note that policy schedule will include necessary information such as Policy Period, details of the Insured appliance, Sum Insured, and Premium amount etc. with respect to customer’s Extended Warranty policy.