Which are the must buy Car Insurance Add Ons
20 Feb 2018
Car insurance: Which Add-ons Should You Go For?
The days of buying a basic car insurance cover for the new vehicle are long gone. The excitement of being a new car owner quickly wanes when you consider the cost of maintaining the vehicle over the years. But fret not! With a host of services designed for the convenience of the policy holder, it only makes sense to invest in a cover that comes with attractive car insurance add-ons.
- Zero depreciation
There’s a reason why Zero Depreciation is the most commonly recommended of all car insurance add-on covers. When you’re faced with a hefty bill of a repaired car post an accident, would you rather be armed with a car insurance that covers the entire cost of damaged parts or simply a depreciated value of replacements? That’s the difference between a basic cover as opposed to a car insurance that comes with the zero-deprecation add-on.
- Engine cover
Since the engine is the most important and expensive part of the vehicle, a car insurance add-on cover for the engine is probably the most sensible option out there. It will save you a huge cost in damages that would otherwise leave a sizeable hole in your pocket. Be it a flood, an accident or an unforeseen breakdown, you have little to worry about as long as engine damage is included in your car insurance add-on cover.
- Roadside assistance
As the name suggests, road assistance offers round-the-clock services that reach you wherever you are. From fuel assistance to battery jumpstart, key replacement and even accommodation in case of overnight repairs, the car insurance add-on cover is a no-brainer. You wouldn’t have to go hunting for a service centre or a garage if you find yourself stranded in an unfamiliar area. With this add-on, help is just one call away.
- Return to Invoice
Imagine this - a car you bought just a few months ago is damaged beyond repair, or worse, stolen. The loss you’re facing is amounting to lakhs of rupees. But what if there was a way to recover at least the money? A Return to Invoice in your car insurance add-on cover makes this possible. Typically meant for new cars or vehicles that are less a year old (3 years some cases) you can reclaim the original cost of purchase, as well as the amount paid in registration and taxes.
- No Claim Bonus/NCB cover
When a year goes by with no claim made on the car insurance, you earn a “No Claim Bonus” which adds a 20% discount on the premium for the following year. This can go up to 50% with subsequent years. But if you do end up making even a single claim on the car insurance, the NCB drops back down to 0%. This is something you can conveniently avoid with NCB retention in your car insurance add-on covers.
As a policy holder, you have an array of attractive car insurance add-ons to pick and choose from. All designed for the sheer benefit and convenience of a car owner, these are some of the add-on you wouldn’t want to miss out on.