This one we hope others will borrow a leaf from. Loss of mobile due to theft is a major concern with handset buyers. Keeping this in mind, LG Electronics has announced a "Mobile Theft Insurance Plan" for its customers. The company has tied up with United India Insurance (UTI) to offer this benefit at no extra charge. Under the plan, all LG GSM handsets bought on or after April 1st 2008 (this is not a fools day joke) will be insured against theft for a period of one year from the date of purchase.

In the unfortunate event of theft, the buyer must lodge an FIR (First Information Report) within 24 hours of occurrence of theft, block the SIM card with the respective service provider, and send the information to the insurance company within 7 days of loss.

There are four simple steps to availing the insurance: first, fill the claim form; second, attach a copy of the bill given to you at the time of purchase (invoice must contain the IMEI number of the handset); third, lodge FIR under section 379 of the IPC (Indian Penal Code) for handset theft and attach a copy with the claim form; and four, mail the documents to the insurance company through registered post.

LG assures the customer will be paid back as per the market value of the mobile phone once all the necessary documents are submitted. The insurance claim will be settled directly by the insurance company within 15 days of receipt of the claim. Meanwhile, LG claims that some of its GSM handsets contain Anti Theft Mobile Tracker (ATMT) for helping users track their stolen mobile phones -- as soon as another SIM card is inserted.