TERMS AND CONDITIONS

COVERAGE: This Plan is concurrent with and extends beyond the manufacturer’s parts and labor warranty. For the purpose of this Plan, the manufacturer warranty shall have a minimum period of twelve (12) months from the date of purchase. The Insured shall mean the owner of the product including his/her spouse, children and employed persons only.

LIMIT OF LIABILITY

Per Repair Visit – The Company’s liability for any one (1) repair visit shall in no event exceed the market value of the Insured’s Product at the time of said repair visit.
Aggregate – The total of all benefits paid or payable while this Plan is in force shall not exceed the retail price (excluding tax) paid by the Insured for the Product covered by the Plan.

LOSS OR DAMAGE: The Company will, subject to the Limits of Liability, indemnify the Insured against loss or damage to the Product:-

by mechanical/electrical breakdown as covered by the manufacturer’s warranty of the enrolled product occurring for the entire period of 12 months after the expiration of the manufacturer’s warranty subject to minimum 12 months manufacturer’s warranty for the enrolled products;
by liquid damage and unintentional/accidental damage from handling (drops, falls, and other collisions), taking effect for two (2) years from the date of purchase, however, EXCLUDING the following perils/causes of loss;
- Catastrophic Losses (i.e. earthquake, flood, typhoon, storm, volcanic eruption and the likes)
- Theft and Mysterious Disappearance
- Cosmetic Damages (discoloration, dents, scratches)
- Normal Wear and Tear
- Intentional Damage (such as hammer marks)

At its own option, the Company may repair, reinstate or replace the Product or its parts. The liability of the Company shall not exceed the value of the parts damaged and the reasonable cost of repairing such parts or the value of the Product at the time of the loss or damage, whichever is the less.

In the event of a claim being payable under this Plan for the cost of replacement, the amount of settlement shall be market value of the Product or the cost of the Product less its corresponding rate of depreciation (please see table below) whichever is less to replace the damaged Product.

Age of Product (Month)	Rate of Depreciation	Age of Product (Month)	Rate of Depreciation
1	2%	13	26%
1.5	3%	13.5	27%
2	4%	14	28%
2.5	5%	14.5	29%
3	6%	15	30%
3.5	7%	15.5	31%
4	8%	16	32%
4.5	9%	16.5	33%
5	10%	17	34%
5.5	11%	17.5	35%
6	12%	18	36%
6.5	13%	18.5	37%
7	14%	19	38%
7.5	15%	19.5	39%
8	16%	20	40%
8.5	17%	20.5	41%
9	18%	21	42%
9.5	19%	21.5	43%
10	20%	22	44%
10.5	21%	22.5	45%
11	22%	23	46%
11.5	23%	23.5	47%
12	24%	24	48%
12.5	25%

AUTO-REDUCTION CLAUSE: The amount of insurance shall be reduced automatically by the amount of any claim paid under this Plan.

TRANSFER OF WARRANTY COVERAGE: At the discretion of and with prior approval from the Company, the Insured:

may transfer the Coverage to any subsequent purchaser of the Product while this Plan is still in force. This can be done only if the transfer request is made within fourteen (14) working days of the sale or transfer of the Product. Coverage can only be transferred once and the transfer must be initiated by the Insured under the Plan.
The following must be submitted to the Company within fourteen (14) working days of the change of ownership to a subsequent purchaser:
1. Copy of Extended Warranty Plan Certificate and proof of purchase
2. Name and Address, Contact Details of new owner, date of sale to new owner and current Product information.

In case the Product covered under the Extended Warranty Plan is replaced directly by the manufacturer, the Insured must submit to the Company the manufacturer’s delivery receipt and serial number of the new Product within fourteen (14) days of the transaction. The Company will deny claims for undeclared change of ownership.

PROVIDED ALWAYS that this Plan is granted upon the express condition that if in any statement or declaration made in support of any Claim under this Plan or if in the information given to the Company in respect thereof there shall be or in behalf of the Insured be any suppression or concealment or any untrue or fraudulent statement or any intentional exaggeration as regards the property or articles lost or damaged or the value or amount thereof or if any Loss or damage be occasioned by or through the willful act or with the knowledge or connivance of the Insured or any relative residing with him or her or any one acting on behalf of the Insured, no Claim shall be payable under this Plan.

EXCLUSIONS: This Plan shall neither extend to nor cover: –

Products that are still covered by the manufacturer’s original warranty, repairers warranty, or any other warranty in effect unless the damage or defect is caused by liquid contact or accident covered by this Plan.
Problems or defects not covered under the manufacturer’s primary written warranty unless the damage or defect is caused by liquid contact or accident covered by this Plan.
The exterior or any non-operating or cosmetic items of the Product, including, but not limited to paint or Product finishes, cords and connectors, tape heads, printer heads and breakable items such as lens.
Repairs where prior authorization has not been obtained.
Any accessory or equipment such as software, peripherals, globes, and batteries and/or add-on options incorporated in a Product not essential to the basic function of the Product. Examples include but are not limited to consumables such as toner, ribbons, drums, belts, tapes or diskettes. This Extended Warranty Plan does not cover Loss or damage to stored data, repairs related to installed software or hardware added after the original purchase.
Breakdown caused by computer virus or realignments to Products.
Defects resulting directly and/or indirectly from software installation and removal.
Manufacturer suggested maintenance, cleaning, lubrication, adjustments or alignments, or such work as may be performed by a repairer not related to a covered Breakdown.
Removal and re-installation or in-home service and other costs when no covered defect is found
Normal Wear and Tear, and specifically Wear and Tear beyond the normal life expectancy of a covered part, or if the Wear and Tear on the part has not exceeded the field tolerances allowed by the manufacturer is excluded.
Reception or transmission problems resulting from external causes.
Damage normally covered by property insurance, by theft, burglary, intentional damage, gross neglect, misuse, abuse, corrosion malicious damage, aircraft, vehicle impact, battery leakage, power outages or surges, inadequate or improper voltage or current, animal or insect infestation and acts of nature including but not limited to earthquake, storm or typhoon, sand, flood, fire and lightning.
Commercial usage such as business multi-user organizations, public rental business or communal use for housing areas.
Problems or defects caused by unauthorized modifications or failure to follow the manufacturer’s installation, operation, or maintenance instructions.
Damage caused by unauthorized repair personnel.
Any damages sustained during transportation, delivery and the likes.
In no event, shall the Company be liable for consequential damages for any delay in rendering service under this Service Plan, for Loss of data, or for Loss of use during the period that the Product is at a repair center or otherwise awaiting parts.
Products with defaced, removed or tampered serial numbers.
Breakdown, failure or damages caused by other than the Insured.

LOSS NOTIFICATION: Upon the happening of any event giving rise or likely to give rise to a Claim under this Plan, the Insured shall as soon as practicable but, not later than fourteen (14) days after such event (or within such further time as the Company may in writing allow in that behalf) give notice thereof in writing to the Company and shall furnish to the Company all such particulars and evidence documentary or otherwise. The Insured shall execute and do all such acts and things and make or cause or suffer to be made all such searches as the Company may reasonably require and shall at once take all practicable steps for discovering and punishing the guilty person or persons if any and for the tracing and recovery of articles lost and for the minimizing of damage.

CANCELLATION OF THE PLAN

The Company shall have satisfied all of its obligations under this Plan in the event that the Company provides the replacement Product. This shall mean automatic cancellation of the Plan. By the Company: The Company shall have the right to cancel the Plan by giving not less than sixty (60) days written notice to the Insured. Also, the Company shall have the right to cancel the Plan by giving not less than ten (10) days written notice relating to the following:

conviction of a crime arising out of any act relating to this Plan;
discovery of fraud or material misrepresentation;
discovery of willful or reckless acts or omissions increasing the hazard insured against;
a determination by the Insurance Commissioner that the continuation of the Plan would violate or would place the insurer in violation of the Insurance Code.

In any of the above events (without limitation to these events), Extended Warranty Plan will not be subject to any premium refund.

OTHER INSURANCE CLAUSE: If at the time of the happening of any Loss or damage covered by this Plan there shall be subsisting other insurance covering the same nature and covering the same item or any part thereof whether effected by the Insured or not, then the Company shall not be liable to pay or contribute more than its ratable proportion of such Loss or damage and upon the happening of any such Loss or damage the Insured shall forthwith give notice to the Company in writing of all other insurances effected by him or on his behalf covering the property or any part of the property Insured under this Plan and no Claim under this Plan shall be payable by the Company until such notice shall have been received by them.

CIVIL CODE ARTICLE 1250 CLAUSE: The provision of Article 1250 of the Civil Code of the Philippines (Republic Act No, 386) which reads: “In case an extraordinary inflation or deflation of the currency stipulated should supervene the value of the currency at the time of the establishment of the obligation shall be the basis of payment,…” shall not apply in determining the extent of liability under the provisions of this Plan.

NUCLEAR EXCLUSIONS CLAUSE:

This Insurance does not cover: –
- Loss or destruction of, or damage to any property whatsoever or any Loss or expenses whatsoever resulting or arising therefrom or any consequential Loss;
- any legal liability of whatsoever nature, directly or indirectly caused by or contributed to, by, or arising from ionizing radiations or contamination by radioactivity from any nuclear fuel, or from any nuclear waste from the combustion of nuclear fuel. For the purpose of this exclusion only, combustion shall include any self-sustaining process of nuclear fission.
The indemnity provided by this Plan shall not apply to nor include any Loss, destruction, damage, or legal liability, directly or indirectly caused by, or contributed to by, or arising from nuclear weapons material.

ELECTRONIC DATA RECOGNITION EXCLUSION CLAUSE: Notwithstanding any provision to the contrary in the Plan or any Endorsement thereto, it is understood and agreed as follows:

(A) This Plan does not insure:

Total or partial destruction, distortion, erasure, alteration, misinterpretation or mis-appropriation of Electronic Data,
Error in creating, amending, entering, deleting using Electronic Data, or
Total or partial inability or failure to receive, send, access or use electronic data for any time or at all

From any cause whatsoever, regardless of any other contributing cause or event whenever it may occur. Electronic Data means facts, concepts and information converted to a form useable for communications, display, distribution, interpretation or processing by Electronic and Electromechanical Data Processing or Electronically controlled Equipment and includes programs software and other coded instructions for such equipment

(B) However, in the event that a peril listed below (being a peril insured by this Plan but for this exclusion) is caused by any matters described in Paragraph (A) above, this Plan, subject to all its provisions, will insure:

Physical loss or damage or destruction to property Insured directly caused by such listed peril and/or
Consequential loss insured by this Plan

Further this Exclusion does not apply in the event that a peril listed below (being a peril insured by this Plan but for this Exclusion) caused any of the matters described in Paragraph (A) above Fire Explosion, Lightning, Windstorm, Hail, Tornado, Cyclone, Hurricane, Earthquake, Volcano, Tsunami, Flood, Freezing, Weight of Snow, Impact by Aircraft or other Aerial objects dropped therefrom, Impact from road vehicle or animal, bursting, Overflowing, Discharging or Leak

TERRORISM & SABOTAGE EXCLUSION CLAUSE: Notwithstanding any provision to the contrary within this Insurance or any Endorsement thereto it is agreed that this Insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss.

For the purpose of this Endorsement an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), which from its nature or context is done for or in connection with political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.

This Endorsement also excluded loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism.

If the Underwriters allege that by reason of this exclusion, any loss, damage, cost or expense is not covered by this Insurance the burden of proving the contrary shall be upon the Insured.

In the event any portion of this Endorsement is found to be invalid or unenforceable the remainder shall remain in full force and effect.

TOTAL ASBESTOS EXCLUSION CLAUSE: This Plan excluded all claims and losses based upon, arising out of, directly or indirectly resulting from or in consequence of, or any way involving:

Asbestos, or
Any actual or alleged Asbestos related injury or damage involving the use, presence, existence, detection, removal, elimination or avoidance of Asbestos or exposure or potential exposure to Asbestos.