I. finexis x AllAssured
General Terms & Conditions
FINEXIS Gadget Plan is complimentary insurance programme offered by FINEXIS ADVISORY PTE LTD to provide
insurance cover for their Customers.
If during the Period of Cover the Equipment shall suffer any Accidental Physical Damage (as defined herein) from any
cause other than those specifically excluded in a manner necessitating repair or replacement anywhere in Singapore,
then the Company will by payment or at its option by reinstatement or repair indemnify the Customer against such loss
or damage subject to the following:
1. The Customer must be the registered owner of the Equipment and only one (1) Equipment will be covered at any
one time during the Period of Cover. Proof of ownership is required at the time of a claim under the Policy;
2. The Equipment must be purchased from Singapore Mobile Network Operators, Singapore Mobile Network
Operators Exclusive Distributors or Manufacturer of Mobile Phone (Telcos e.g. Singtel, M1 or Starhub) or directly
from the mobile phone manufacturer’s retail store in Singapore;
3. The Equipment must be for personal use only and not be more than twelve (12) months old from the
Commencement Date of the cover.
Scope of Cover
The cover for the Equipment shall commence from the Commencement Date whilst the Equipment is in use in
Singapore and shall cease immediately at the end of the sixth calendar months of cover from the Commencement
Date or upon termination as per the Termination Condition (whichever is the earlier).
The cover provided to each Customer is subject to the Waiting Period and no claim will be payable for any Accidental
Physical Damage occurring within the Waiting Period.
In the event of Accidental Physical Damage to the Equipment anywhere in Singapore during the Period of Cover (and
subject to the Waiting Period), We will
1. pay the cost of repair or replacement of parts (including any service charge) of the damaged Equipment by a
qualified repair engineer less an Excess of SGD50.00. The replacement part may be new or used, original or
non-original (though it will be functionally equivalent to the original parts) manufacturer's parts that conform to
factory specifications and shall be determined at Our sole discretion or;
2. where actual repair cannot be carried out or We deemed it uneconomical to repair, replace the damaged
Equipment, with one of a similar specification without any betterment less an Excess of SGD150.00. We shall not
be bound to replace the damaged Equipment with one of an identical specification but only, at Our sole discretion,
one with similar specification as far as circumstances allow.
Provided always that Our liability shall not exceed the maximum amount of SGD500.00.
We shall at Our discretion decide on the repair or replacement of the damaged Equipment and all such repairs and
replacements will be carried out in Singapore only.
Only one (1) claim is allowed per Customer during the Period of Cover.
Wherever the following words are used in this Policy or the Schedule, they shall have the meanings given below.
1. Accidental Physical Damage means a sudden, unforeseen and non-deliberate external action that occurred in
Singapore and results in damage to the Equipment including accidental spillage of liquid substance or immersion
such that it is no longer able to perform its intended function.
2. Customer means a customer of FINEXIS who is an individual and has applied for this Insurance as evidenced by
a declaration by FINEXIS, lodged with and has been accepted by the Company, subject to the following:
(a) The Customer must be at least twenty-one (21) years old (at last birthday) at the time the Customer is declared
by FINEXIS to be covered under this Policy; and
(b) The Customer must not be an employee and/or representative of FINEXIS.
3. Commencement Date means the start date as declared by FINEXIS to the Company and accepted by Us on
which the cover for the Equipment will commence.
4. Company/We/Us means Sompo Insurance Singapore Pte. Ltd.
5. Excess means the first amount of each and every claim that must be paid or borne by the Customer.
6. Family means any family member related to the Customer by blood, through marriage or by adoption under any
7. Equipment means mobile phones/smartphones identified via International Mobile Equipment Identity (IMEI)
number, where the device contains Mobile Network Operators SIM card used for making and receiving telephone
calls and transmission of data, declared to Us, all of which are for personal use only.
8. Period of Cover means the period over which a particular Equipment is covered under this Policy. In no case
shall the period of cover exceed six (6) months from the Commencement Date.
9. Waiting Period means the continuous period of thirty (30) days from the Commencement Date.
Key General Conditions
1. Conditions Precedent to Liability
The due observance and fulfilment of the terms, provisions, conditions and endorsements of this Policy by the
Customer insofar as they relate to anything to be done or complied with by the Customer and the truth of the
statements and answers in the Proposal and/or Declaration and/or any other information furnished by the
Customer shall be conditions precedent to any liability of the Company to make any payment under this Policy.
2. One Policy Restriction
A Customer shall not be covered under more than one FINEXIS Gadget Plan issued by Us.
3. Claims Notification
(a) The Customer must inform Us as soon as possible but not later than three days (3) days from the date of the
Accident in the event of any claim or potential claim under the Policy.
(b) Upon validation of the Customer, the Customer shall obtain a repair quote for the damaged Equipment for
Our approval and within fourteen (14) days thereafter submit a Claim Form providing Us with the following:
(i) Full details of the claim together with the original repair invoice/receipt;
(ii) Evidence or supporting document including evidence of ownership of the damaged Equipment which We
may reasonably require. Examples of such evidence or document include invoice/receipt or gift receipt
bearing the name of the Customer with the description of the damaged Equipment, contract with the
network provider and its IMEI number, photograph evidence of the damaged Equipment. Incomplete
Claim Forms will not be accepted for Our processing of the claims.
(c) Where necessary, copy of the completed Claim Form will be provided to FINEXIS and FINEXIS must disclose
to Us within seven (7) working days.
(d) The Customer shall not attempt to repair the Equipment without Our authorization.
(e) The Customer shall not attempt to repair the Equipment that will otherwise invalid any manufacturer’s
warranty on the Equipment which may be subsisting during the Period of Cover.
(f) The Customer shall take precaution to prevent further damage to the Equipment.
4. Rights and Responsibilities
The Company shall be entitled to
(a) take and keep possession of the damaged Equipment or replaced components and to deal with the salvage
in a reasonable manner; and the Customer shall give to Us all reasonable assistance in taking possession of
(b) undertake in the name and on behalf of the Customer the absolute conduct, control and settlement of any
proceedings and to take proceedings at its own expense and for its own benefit, but in the name of the
Customer, to recover compensation or secure indemnity from any third party in respect of anything covered
by this Policy;
(c) have access to the damaged Equipment at all reasonable times.
5. Other Insurance
The Customer shall give notice to the Company if at the time of the happening of any Accidental Physical Damage
covered by this Policy there shall be any other insurance and/or warranty against such damage whether effected
by the Customer or not. The Company shall not be liable to pay or contribute more than its rateable proportion of
6. Duty of Care
The Customer shall exercise all reasonable precautions for the maintenance and safety of the Equipment and to
prevent accident or damage.
7. Subrogation of Rights
The Company shall be entitled to undertake in the name and on behalf of the Customer, the absolute conduct
control and settlement of any proceedings and to take proceedings at its own expense and for its own benefit but
in the name of the Customer to recover compensation or secure indemnity from any third party in respect of
anything covered by this Policy.
If any difference shall arise as to the replacement or repair of Equipment (liability being otherwise admitted) such
difference shall be referred to an arbitrator to be appointed by the parties in accordance with the statutory
provisions being in force at that time. Where any difference is by this condition to be referred to arbitration, the
making of an award shall be condition precedent to any right of action against the Company. The arbitration
proceedings shall take place in Singapore and be subjected to the law of Singapore.
The cover provided under this Policy in respect of any one Customer shall terminate automatically on the earliest
of the following:
(a) Immediately at the end of the sixth calendar months from the Commencement Date of cover of the Customer;
(b) The date of the Accident giving rise to a valid claim under the Policy.
All payments under this Policy shall be forfeited if any claim on this Policy is in any respect fraudulent or if any
fraudulent means or devices are used by FINEXIS and/or Customer or anyone acting on his behalf to obtain any
payment under this Policy.
11. Governing Law
This Policy is governed by and interpreted in accordance to the laws of the Republic of Singapore.
This Policy does not cover
1. the Excess payable by the Customer;
2. more than one (1) claim under each Period of Cover;
3. any claim in respect of Accident occurring within the Waiting Period;
4. damage arising from business and/or commercial use of the Equipment;
5. damage that occurs outside Singapore;
6. loss or theft of the Equipment;
7. negligence, wilful/intentional acts or omissions, default, fraud or attempted fraud, misuse, neglect, abuse and
illegal acts by the Customer and/or any member of his/her Family normally residing with him/her;
8. damage caused by any gradual deterioration, normal wear and tear;
9. damage caused by the alteration, modification, repair or maintenance of the Equipment or in connection with any
process of cleaning, repairing, installing or restoring of the Equipment;
10. damage caused by improper installation, improper usage or failure to operate the Equipment in accordance with
the instructions provided;
11. damaged covered under any manufacturer’s, retailer’s or extended warranty;
12. inherent fault or defective workmanship or defective design or use of defective materials;
13. operational errors or omissions on the part of the Customer or any person using the Equipment or on their
expressed or implied consent;
14. corrosion, rust, condensation or evaporation, dampness, dryness, dust or change in temperature;
15. mechanical or electrical failure or derangement of the Equipment;
16. scratching, abrasion, change in colour, texture or finish of the casing of the Equipment;
17. damage covered by the manufacturer’s original warranty, repairer’s warranty or any other warranty still in effect;
18. consumable items or external accessories such as antennae, cables, electrical connection or trunking, fitting, dust
covers, remote controls, adaptors and plugs, charger even if packaged or sold together with the Equipment or any
cosmetic parts including paintwork or its finish in particular, batteries;
19. damage resulting from leaving Equipment unattended in any place, in any public place or in any outbuilding or
being left in the custody and care of a third party unless he/she is a member of the Customer’s Family normally
residing with him/her and the Equipment is used with permission from the Customer;
20. damage caused by unexplained and/or mysterious circumstances;
* Full details of the terms, conditions and exclusions are provided in the Policy.