Car insurance is one of the largest selling types of insurance in India. This is because the country’s laws make it mandatory for any vehicle owner to get insurance coverage as soon as they purchase the vehicle. There are many good and reliable motor insurance companies that offer some of the best motor insurance plans. However, the standard car insurance plans are pretty standard and if you want to customise your policy and get optimal coverage, you need to attach some add-on covers to your plan. Take a look at this article to know more about the top five add-on car insurance covers that you can consider buying.
- Zero depreciation cover
With time, your car and its parts begin to age. The value drops and so, when you make an insurance claim, the claim amount is adjusted after taking the value drop into consideration. This is known as depreciation in car insurance. When you buy the zero depreciation cover, the car’s value is always at its original value and at the time of a claim, no deductions are made. This helps you to get a higher claim amount.
- Roadside assistance cover
Whether your car refuses to start in the middle of a highway, or you run out of petrol outside your office, the roadside assistance rider will bail you out. When you have this add-on cover, you can simply call your insurance provider if you find yourself stranded and they will send a mechanic and a towing vehicle. You can then relax and allow the experts to take over!
- Engine protection cover
The engine of a vehicle isn’t covered in a standard car insurance policy. But the engine is the most important component of the car so you need to ensure it stays protected at all times. For this, you need to purchase the engine protection add-on cover. This will keep the engine safe from water damage, collision damage, etc., and fetch you a lot of mental peace.
- Consumables cover
There are certain parts of the car which are categorised under the consumables overhead. These include nuts, bolts, coolant, oil filters, engine oil, etc. These are not covered under your standard car insurance plan. However, the consumables are important and require protection and so, you could consider getting the consumables covered. With this in place, you can make claims when you need to repair or replace any consumable item in the car.
- Return to invoice cover
This add-on cover comes in handy when your vehicle gets stolen or is damaged beyond repair. You can get the full claim amount, which is equivalent to the original invoice value of the car, without any depreciation deductions. This is very handy as it makes it easier for you to get a similar vehicle without having to spend much yourself.
It is important to note that every car insurance add-on cover is available at an added cost. Hence, you must assess your requirements, check your budget and then choose the best and most suitable add-on covers to have the best and most comprehensive motor insurance coverage.