Add-Ons and your car insurance policy: Everything You Need To Know

In India, buying a car is considered a luxury because of its price and maintenance costs. Protecting your new purchase will always be a priority that can be done with the help of car insurance. New car insurance is important to protect your car and yourself from financial loss or liability in case of an accident. However, many auto insurance policies offer additional extras to enhance the protection provided by a standard policy. In this article, we will discuss the various extras in car insurance and their benefits.

Types of additions to your car insurance policy

If you are planning to purchase new comprehensive car insurance, here are the extras you can add in your policy to increase its coverage:

Protection Without Depreciation

Standard car insurance policies provide coverage for damage caused to the car, but deduct depreciation from the amount of the claim. This significantly affects the amount of the claim that the insurance company will provide to pay for the damage. However, with no-depreciation protection, the insurance company will not deduct any depreciation, and you can get the full value of the replaced part of the car. This supplement is especially useful for new cars, as the depreciation value is higher in the early years.

Engine Protection

The engine is the heart of the car, and damage to the engine can result in huge costs. Sometimes, this damage can be so serious that it can prevent you from using your car for a short period of time. Engine protection provides protection for damage to the engine due to water or oil leakage. This addition can be especially useful during the rainy season when puddles on the road can damage the car's engine.

Road Assistance Protection

Road assistance protection provides assistance if a car breaks down on the road. The insurance company provides services such as towing, jumping the battery, fuel delivery and other minor repairs. This supplement can be very useful for those who often travel long distances or in remote areas.

No Claims Bonus Protection

No claims Bonus (NCB) is a discount given by an insurance company because there are no claims during the policy period. With no claims bonus protection, you can keep NCB even if you file a claim during the policy period. This supplement is useful for those who want to protect their NCB, which can result in a significant premium reduction upon policy renewal.

Consumer Goods Protection

Standard auto insurance policies do not provide coverage for consumer goods such as engine oil, brake fluid, coolant, and other fluids. However, with consumer goods protection, insurance companies provide protection for these consumer goods. This addition can be very useful for those who want comprehensive protection for their car.

Back to Bill Protection

Standard car insurance policies provide protection for the current market value of the car. However, with back to Bill Protection, the insurance company provides protection for the bill value of the car. In case of total loss or theft of the car, this supplement ensures that you receive the full value of the car according to the bill price.

Personal Baggage

Often, you may keep valuables in your car. These items include cell phones, laptops, accessories, or jewelry. In unfortunate circumstances, if there is an attempted theft where valuables are stolen from your car, the personal baggage protection in your online car insurance provides financial protection for valuables that may be stolen from your car. This supplement can be beneficial for those who want to insure any valuables they may carry in their car.

* Terms and Conditions apply

How To Choose An Addition?

While you may feel like including all the available extras in your policy, it is important to remember that when you buy, including too many extras will increase the cost of the policy. Many extras are not used, which ultimately becomes a waste of your money. Before purchasing a policy, make an additional list that will meet your needs. NCB protection, no depreciation protection, and engine protection are some of the extras that you should consider including in your policy as they are very beneficial.

Conclusion

Supplemental car insurance can provide additional protection for your car and yourself. It is important to carefully review and compare the various extras and choose the one that suits your needs and budget. This can be done with the help of a car insurance premium calculator. With the right additions, you can increase the coverage of your car insurance policy and ensure that you are financially protected in case of unforeseen events.

Lokasi:

Berbagi :