Car Insurance Add-On Covers: Monsoon brings respite from the scorching heat but also brings with it some challenges, especially for car owners. Heavy rains, waterlogging and unpredictable weather conditions can wreak havoc on your vehicle, which can make your car repair cost very expensive. To ensure that you are well prepared and financially secure, it is important to consider special add-ons (Add-On Covers for Car Insurance) to your car insurance policy during the monsoon season.
Nitin Kumar, Head – Motor Insurance, Policybazaar.com said, “Preparing your car for the monsoon season involves a lot more than just regular maintenance. By considering essential add-ons like engine protection cover, zero depreciation cover, return to invoice, you can enhance your car insurance coverage and also protect yourself from the financial implications of monsoon-related damages.”
5 must-have add-ons that can help you keep your vehicle safe-
Engine Protection Cover
The engine is the heart of your car, and it is more prone to damage during monsoons. Engine breakdown due to excessive water logging on the roads is a common problem faced by many car owners. Whose repair cost can be very high. One can opt for engine protection add-on to safeguard oneself against such sudden financial troubles. This add-on will cover the repair and replacement cost in case of damage to the engine, while also giving them peace of mind.
Zero Depreciation Cover Complete coverage for your vehicle (Zero Dep. Cover)
When it comes to making an insurance claim for car damage, depreciation plays an important role in determining the claim amount. You can consider zero depreciation add-on to enhance your coverage during monsoon. This add-on covers all vehicle components at 100 percent except for tubes, batteries and tyres, which are covered at 50 percent. This ensures that you receive adequate compensation for the total loss or damage caused to your vehicle.
24×7 Road Side Assistance
Being stranded on the road during heavy rains is a very difficult situation. To effectively deal with such situations, you can opt for 24×7 Road Side Assistance add-on. This add-on will provide invaluable assistance during emergencies like towing, on-the-spot repairs, fuel requirements and arranging alternate transport. These add-ons ensure that you get timely help when you need it the most, thus giving you peace of mind and convenience during the monsoon season.
Return To Invoice
In cases where the damage to your car is significant or your car is beyond repair, the cost of repairs can often exceed the Insured Declared Value (IDV) of the vehicle. This is where the “Return to Invoice” add-on can prove to be quite beneficial.
For cars older than three years, the Return to Invoice add-on ensures that you will receive the full invoice value as claim amount in case of total loss. This add-on will also help protect your investment and ensure that you can replace your car with a new car in case of any significant damage.
Daily Allowance and Consumables
During monsoon, your car may require repairs which may make it unusable for a few days. To cover the cost of hiring an alternate vehicle during this period, you may consider a daily allowance add-on. This add-on compensates you for the cost of hiring an alternate vehicle up to a certain daily limit. The daily limit varies between insurers, so it is necessary to review the terms and conditions.
Apart from these, you can also consider add-on covers for consumables, which cover the expenses of essential items like engine oil, nuts and bolts, mud flaps and brakes. These expenses are generally not covered under comprehensive plans, but the add-on of consumables ensures that you are protected against additional costs during the monsoon season.
Claim Process
In the unfortunate event of the car getting damaged or in an accident, it is important to inform the insurer about the condition of the vehicle and file a claim immediately. Submitting proof of damage or accident in the form of photographs and videos can make the claim process much easier. Documentation of the incident is important to ensure a hassle free resolution.
