List of The Best Car Insurance Add-On Covers
Updated On Oct 15, 2023
This article provides a list of top 5 car insurance covers that is best for your car. Read this article to select the best car insurance add-on covers for your car.
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India witnesses accidents and thefts on a daily basis. Cars are something that every owner treasures. Keeping your car and yourself safe is expensive business. This is the part where car insurance comes to play. Purchasing a car insurance policy will help you in these difficult times. This article will provide a list of top 5 add-on covers that offer the required coverage for your car.
Top 5 Add-On Covers For Your Car Insurance Policy
The following are the top 5 add-on covers that you can pick for your car-
Road-Side Assistance Cover
The most common trouble most car owners face is the breakdown of their car in the middle of their journey leaving them stranded. The road-side assistance cover will avail certain facilities that will help you in this case. Your insurance company can send immediate professional help to your location to help you to repair your car. Your insurer can also provide towing services and on-call guidance among many other features to make your journey hassle-free and safe.
Zero Depreciation Cover
Depreciation is inevitable when your car is being used. The auto-parts may undergo wear and tear as you drive it over a period of time which decreases its overall value. Purchasing the zero depreciation cover ensures that the depreciation amount is not considered at the time of giving you the claim amount. This insurance cover is also called bumper-to-bumper insurance cover. Although, insurance companies may limit the number of claims you make on this cover.
Engine Protection Cover
While driving your car for a long period of time, it is common to face issues with your car engine. This will require you to take it to service which is expensive. If you want to avoid these expensive bills, purchasing an engine protection cover will certainly take care of the expenses incurred to repair your car engine.
Return To Invoice Cover
Purchasing a car is extremely expensive. This is why you must invest in car insurance to keep it safe. In case of theft, damage beyond repair or total loss of the car, your insurance company will pay you the amount depending on the IDV (Insured Declared Value) of the car. Purchasing a return to invoice cover for your car insurance policy, the IDV of your car will be fixed equal to the price at which you purchased your car. This means that the insurer will pay you the amount equal to the price at which you purchased the car in case of extensive damage or theft. But, this insurance cover will be applicable only to cars that are younger than 3 to 4 years.
No-Claim Bonus Protection Cover
The no-claim bonus is a discount on your premium when you don’t raise a claim for longer than a year. Purchasing this insurance cover will keep your NCB component intact in spite of raising a claim. This means that you can claim your insurance and still receive a discount on your premium using your NCB component. The no-claim bonus protection cover is one of the most beneficial insurance covers for your car.
Although a third-party insurance policy is compulsory for your car, it is advised to purchase a policy that offers maximum coverage. From car repairs to your medical expenses, your policy can cover all these costs depending on the type of policy you choose. Your car insurance policy might offer all the basic coverage, but adding riders or add-ons to your car insurance will increase the coverage and keep you financially secure. Therefore, you must always do thorough research before picking your add-on covers for your car insurance.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.