PolicyStreet is offering shoppers, who insured their online purchases, additional protection for up to six months after receiving their purchases with its Damage Protection Plan.
In a statement, the insurance technology company said damage coverage starts at less than RM1, and online shoppers can get protection of up to RM10,000 on more than 800 categories of items available on partnering e-commerce platforms.
“Online shoppers are typically concerned with ensuring that their purchases arrive in good condition, but they frequently overlook that the risk of product damage does not end there.
“Rather than proactively encouraging Malaysians to insure their belongings, we’re incorporating damage protection into their online purchase journey, so online shoppers can be protected from the moment they receive their purchase,” said PolicyStreet co-founder and chief executive officer Lee Yen Ming, according to the statement.
It said the Damage Protection Plan protects shoppers’ purchases against accidental damage, fire, flood and theft for up to six months after delivery.
“Baby clothing, furniture, travel and luggage, mobile phones and gadget accessories are also eligible for wear and tear damage compensation up to three months after purchase.
“Wear and tear coverage in the Damage Protection Plan acts as a quality assurance policy, allowing customers to be compensated when gradual damages such as shrinkage, rust, or damage by rodents or insects occur due to the nature of the product itself,” the statement added.
For more information on the Damage Protection Plan’s coverages, visit the terms and conditions page here.
