Why Do You Need Add-on Covers for Your Car Insurance
12 Sep 2017
Buying a new car is not difficult anymore due to the easy availability of loans. But factors like paying higher maintenance charges, repairing charges in case of accidents, depreciating car value, etc. makes the maintenance job even more difficult than buying it. Car insurance ensures coverage for car damages and thefts. But, what can be done to ensure coverage for add-on expenses?
Benefits of add-on cover for car insurance
Apart from car damages, add-on covers can guarantee coverage for other overheads like car parts, small repair charges, medical needs, personal coverage, etc. The extra coverage depends on the add-ons that you choose. It is vital to know which add-ons are offered and what they may cover. Here is a list of the most important add-ons and their significance:
Return to Invoice:
Generally, the claim for your car insurance is processed on the current value of the car which is a depreciated one. However, this add-on lets you have the invoice value of your car at the time of claim including all the registration charges, road tax and insurance payments. This add-on is beneficial as the claim reimbursement is for the full value, in case the car gets totally damaged.
Zero depreciation cover:
Plastic, fiber, rubber and glass parts of the car cause depreciation in the value of the car at the time of claim with regards to repairing or replacements. One of the most popular add-ons, the zero depreciation cover lets you enjoy full claim without depreciation on the value of the parts that are to be replaced.
Protection for No Claim Bonus (NCB):
Even a single claim can bring down your No Claim Bonus to zero. However, with this add-on, you can still avail discounted protection even after having filed for a claim.
Add-on for co-passengers:
Car insurance will provide coverage for the owner/driver of the car. This add-on will add an extra cover for your companion at the time of accident.
Add-on for parts of car:
Hydraulic system of a car can be affected in the rainy season due to water. Components of car like oil, nuts & bolts, etc. need replacements from time to time. Specific damages like damage to internal parts of engine and gear box need special coverage other than the car insurance. You need to choose an add-on according to the concerns in specific parts of your car. Browse available options to support your car insurance for expenses related to engine and other parts.
Medical expenses related add-on:
There are add-ons obtainable to cover ambulance charges while the insured person is transported through ambulance, medical expenses in case of accident and to support through cashless facilities in case of hospitalization. Know more about the coverage of medical expenses to find the most suitable add-on for you.
Hence, add-on cover can support your car insurance so that you can have maximum risk coverage for yourself and your car.