Sunday, Dec 04, 2022

Godrej Locks, Liberty General Insurance Offer Free Burglary Insurance. Should You Go For It?

Godrej Locks, Liberty General Insurance Offer Free Burglary Insurance. Should You Go For It?

Customers of Godrej Locks will get an additional layer of security through the burglary cover being offered by Liberty General Insurance.

Godrej & Boyce, the flagship company of Godrej Group, has partnered with Liberty General Insurance to offer burglary insurance up to Rs 1,280 crore to its customers.

The customers of Godrej locks, including the digital door locks range of Advantis, the newly-launched digital lock Spacetek Pro, Pentabolt Aries, Pentabolt EXS+ and Altrix & Astro, can avail of this offer.

With this collaboration, Godrej aims to impact over 50,000 households in India.

Features Of The Cover

The validity of the insurance would be one year from the date of activation. To activate the insurance, the customer will have to scan the QR code available on the packaging and provide a valid invoice. The insurance value will be 20 times the MRP of the lock purchased.

The insurance can be claimed by customers who have their locks broken during a burglary. The customer/victim will need to present a valid FIR copy to claim the insurance.

The insurance amount will also cover the loss of jewellery and high-end products.

Focus On Home Safety

“The objective is to entice customers to prioritize the safety of their homes especially in the current times where the number of burglaries as well as thefts is seeing an uptick,” said Shyam Motwani, executive vice-president and head of business, Godrej Locks.

According to a Godrej Locks survey last year, 85 per cent of cops agree that there is a need to raise awareness about better home safety technology.

In today’s world full of uncertainties, an insurance cover has assumed significance. Roopam Asthana, CEO and whole-time director, Liberty General Insurance, said, “With this partnership, Liberty General Insurance aims to reduce any insecurity a customer might have about safeguarding their homes from an unfortunate burglary. Through our partnership with Godrej Locks, we aim to protect for the unexpected, delivered with care.”

In case any customer wishes to extend the policy, they can directly contact Liberty General Insurance. The collaboration between Godrej Locks and Liberty Insurance will be effective from November 15, 2021, until November 14, 2022.

Should You Go For It?

When you are buying a basic service such as a lock to secure your valuables and assets, an insurance cover will provide an additional layer of security.

However, burglary is usually covered under a comprehensive householder’s policy. In case you already have the policy, this may only work as an additional cover for a year.

A householder’s policy also covers your assets and valuables against other risks, such as natural calamities and fire. Besides, a comprehensive policy will also protect assets and valuables that you may not necessarily keep under lock and key. For the longer term, it would make more sense to go for your policy.