A comprehensive car insurance policy is a brilliant investment. Sure. But did you know that riders can be equally important for a wide variety of reasons? What if you require an extra layer of protection that will help you receive additional compensation in need? Well, that is exactly when an add-on can come to your rescue.
If you have recently been pitched by your vehicle insurance provider about add-ons, you might be inquisitive to know more about them.
Here’s the importance of choosing the right car insurance add ons prescribed in detail for you.
Vehicle Insurance Add ons Explained!
A financial emergency is uncalled for. While most people around you may not be able to help you during such times, your car insurance policy providers are there to fall back on. For this purpose, they provide a range of add-ons to support you through your financial upheavals. This plan promises to safeguard policyholders against any vehicle damage or third-party accident that was caused both by man-made or natural disasters.
By opting for an add-on from a range of riders, you can easily extend your financial protection for those times when you face a crisis. Roadside assistance cover, zero depreciation cover, and engine protection cover are some of them.
The Necessity of Motor Insurance Add-ons
Your comprehensive car policy provides you with coverage in case of any unforeseen car accident, injury, or car-related liability. But sometimes, you may be in need of an extra layer of protection to be on the safe end of things. Add-ons can help provide that.
The right add-ons as per your requirement can also extend your coverage and curb your finance-related worries in no time. By paying a small premium for them from time to time, you can avail of their benefits without much hindrance. That is why experts suggest that you should scout for at least one of the many add-on options that are available to you.
What Are the Five Significant Vehicle Insurance Add-ons to Know About?
1. Return to Invoice
During certain cases, the damage that your car incurs could be so grave that it cannot be repaired. You may also encounter experiences of theft and robbery relating to your vehicle. During these times, “Return To Invoice” is the add-on you can scout for.
This add-on can enable you to get an estimate that is equivalent to the persisting market value for your vehicle. As such, it can be a real-time asset when you are looking for some financial assistance at the earliest opportunity.
2. Tyre Protection
The situation of roads in India is unbearable. The traffic is frustrating, and the tyre repair condition is very steady. That is why opting for tyre protection add-on can also be a fruitful choice in need. Since these are important aspects of your car, the add-on can help you receive instant assistance with the tyres when required, which can protect your vehicle from being stranded on the road for long hours.
Future Generali also provides such add-ons for their vehicle insurance. So, do not forget to map out their website for more information on the same.
3. Engine Protect
Many areas in India continuously face harsh weather conditions that can take a massive toll on vehicle engines. This can range from storms, clogged drains, road flooding, and many more calamities. During all these times when your engine fails to operate successfully, Engine Protect can come to the spotlight as a potential add-on as per your car insurance plan.
If your car is insured under this add-on, you can choose a claim settlement process for the same with your insurance company. This can help compensate for the engine damage on time.
Consumables are any of those parts of your vehicle that deal with consumption in your car. Pipes, air conditioners, nut bolts, and even engine oils are a part of this list. Coolant and ball bearings are also a part of the list. Although these are very intricate parts of your vehicle, they are very important for your car to operate properly. That is why a special add-on is devised for them as well.
5. Zero Depreciation
Every year, the market value of your car reduces. This may be due to an assortment of factors in play, with the most important one being new cars being introduced to the market time and again. However, when you undergo a car insurance claim for your vehicle, your insurance provider will only consider the depreciated value of your vehicle that is insured under your name. As such, it could help you save sufficient amounts of money in need.
So, when you opt for the zero depreciation plan, your insurer will only consider the market value that was discussed at the time when you bought the vehicle. In fact, you will also receive the comprehensive claim amount that you are supposed to receive.
A car insurance plan can be an even more successful investment, provided you know how to leverage your add-ons. In this article, we have tried to help you understand the same in detail. Thus, we hope it will help you choose the right car insurance add ons for your vehicle and ensure its safety and your financial interests on time. Leverage the pointers we have shared with you above to do the same. We promise; you will find yourself covered!