- By Divanshi Sharma
- Thu, 13 Jun 2024 11:32 AM (IST)
- Source:JND
Top 5 Essential Add-Ons For Your Car Insurance: Several insurance companies in India offer car insurance to provide financial support during emergencies. These plans cover losses or damages to the car or third parties due to accidents caused by natural or man-made disasters. You can further enhance your comprehensive insurance with add-ons for extra benefits. Adding add-ons offers additional coverage and reduces financial stress from unforeseen accidents. Therefore, opting for add-ons with your basic car insurance plan is essential. Here are five basic add-ons that you should consider adding to your car insurance.
Zero-Depreciation
As a vehicle's market value reduces every year, insurance claims consider only the car's current value, often leaving policyholders to cover significant costs. Adding zero depreciation cover to your plan ensures the insurer uses the car's market value at the time of policy purchase, paying the full claim amount without depreciation deductions. This cover is available for cars up to 5 years old.
Return To Invoice
This cover is ideal for cases of theft or when the car is damaged beyond repair (total loss). With this add-on, you can file a claim with the insurance company and receive compensation equal to the current market value of your insured car. It provides on-road price compensation, including ex-showroom price, registration, and road tax. Benefits are available for cars up to 3 years old.
Engine Protection
The engine protect add-on is ideal for those living in areas prone to flooding and heavy rain. Damage to the car engine from such calamities is considered a consequential loss. With an engine protect add-on, you can file a claim with the insurance company for engine damage caused by these events.
Tyre Protection
Given India's road conditions, choosing a tyre protection rider is highly advised. Tyres are an essential part of your car and frequent repairs can be costly. Therefore, by choosing a tyre protection add-on, you can save these costs and ensure that your tyres are covered against damage.
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Consumables
A car's repair often involves consumable parts like nuts, bolts, engine oil, grease, AC gas, pipes, ball bearings, and coolant. These small but essential parts usually aren't covered by standard insurance plans. However, with a consumables add-on, your insurer will cover the costs for these items during car repairs.
