FAQs ( Frequently Asked Questions)
Is Mi Extended Warranty plan transferable and renewable?
No, the Mi Extended Warranty is non-transferable and non-renewable at this point in time.
Is Accidental damage covered in this policy?
Accidental and Liquid damage are not covered as per the terms of Mi Extended Warranty plan.
Claim Related Queries
What are the top six reasons a repair/claim is denied?
a. Unauthorized personnel attempted to repair the product.
b. Claim is not intimated within 7 days of the problem occurring.
c. Product is repaired prior to receiving authorization from us.
d. Required documents are not provided.
e. Any misuse of product like use for commercial purposes.
f. Reason for product failure excluded in the coverage as mentioned in Terms & Conditions.
What do I have to pay for the repairs? Nothing at all for the repairs which are covered as in the Extended Warranty terms and conditions. For any repairs which are falling in exclusion of the conditions specified, you will have to pay as per the standard rate applicable.
What happens if the product cannot be repaired or the repair exceeds the unit’s value?
If the unit is not repairable for any reason as per the coverage, or the cost of repairing the unit exceeds the unit’s current market value; we may offer to replace your product or make a monetary settlement reflecting the prevailing market value of your product post depreciation applicable. The prevailing market value will be the cheapest price available as determined solely by us.
e.g. let’s assume that you bought a device originally for ₹ 22,999 for which we are going to provide a replacement. If the product is now available for sale at ₹ 22,000, then the prevailing market value for your product will not be higher than ₹ 22,000. The settlement amount will be calculated by applying depreciation on ₹ 22000 as per the age of your product in this case.
If a replacement (either by way of replacement product or a monetary settlement) is made, there will no longer be coverage under the contract and all obligations will be deemed satisfied. Please refer the T&C for more details.
8 . What is the depreciation rate that is applied?
Depreciation will be applied on the Sum Insured as follows:
1st year of Extended Warranty : 15%
2nd year of Extended Warranty :30%
If we compensate you as above, all our obligations under this contract will be deemed fulfilled and there will no longer be any coverage under the plan.