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Five Add on covers which can super charge your car Insurance policy

Indian cities are today flushed with huge migration from adjoining areas but development of public transportation infrastructure in these cities have not seen such sustainable addition to match the every rising need for commuting . This has lead to rising ownership of personal cars among city dwellers .But looking at the rising cost of living in these cities maintaining a car is hitting the personal finances largely .High cost of rent and EMI, maintenance charges, fuel charges, education for kids etc is already damaging things plus if you have to bear an extra cost for car repair in any month, can affect your financial plans for next three to six months.

Other than investing an extra amount after each three to four months into a depreciating asset like car can have serious long term bad effects on your personal balance sheet. To handle a situation like this a comprehensive car insurance policy can be of great help but that’s all is not enough. To stay always right on track you actually need some extra enablers which are technically not part of any plain vanilla policy. Though you might have to pay an extra cost for it but the nominal fee will guarantee a long term peace of mind .Other than that add on covers offered by car insurance companies can help you to customize your car insurance policy in a way which best suits your driving habits. Just plan your car insurance well in advance with the suitable add on and you are done for the rest of the year. Prefer buying the policy online where you can actually make a fair comparison of different offerings in the market based on the different add on covers you are looking at.

Additional cover option which you can opt for:

Looking at the specific options offered by various insurers can help you make a fair decision. The maximum amount of coverage offered under each add on vary with the insurers so to make a fair judgment do have a clear understanding what you require and what not so that you don’t end up paying for things which you don’t require. The top five priority add-on covers which you should be considering as a top up cover over and above your regular comprehensive car policy are listed below:

  1. Zero depreciation : This is one of the popular add on cover among car owners though you can only avail this during the 1st three years of ownership but the peace of mind it offers is incredible. As we all know that car is a depreciating asset but damage in the initial years to your dream car can be quite painful and this is where an add-on like this comes to help. The privilege which it offers is that if you make a claim for damage due to accident during the initial years , the insurance company will pay you for all the parts damaged during the process which in a regular scenario is not covered and you have to bear the cost out of your own pocket. As the name suggest it help to stay safe for loss happening due to depreciation covered. It is a win-win situation for both the car owner and the insurance company. From the perspective of car owner’s wallet it also help you control cost of future premium also
  2. Road assistance: if you are avid traveler then it is one of the best add-on covers which you should consider adding to your regular policy. In recent times car insurance companies are trying to service their clients end to end and this is a step towards that. Accidents, car damage and incident similar to these are quite common among on Indian roads but the problems become acute when you get trapped in a problem like this when access to services like garages are not available. Take a situation where you have a flat tyre in the middle of the highway and you forgot the tool kit in your home; this is where the cover is very beneficial. The things that you can opt for under this are fuel assistance, repair support and you also get a taxi and lodging cost pre-paid by the insurer if you get stuck in a remote location.
  3. Engine and Electronic circuit cover: You should always keep in mind that Electrical parts are not covered under your comprehensive policy. Plus in case of engine damage due water which is again a severe problem is also not part of the comprehensive coverage. During monsoon Indian cities are generally flooded with water, water logged roads is common scenario which can cause serious damage to your car engine. In last 2 to 3 years major metros like Mumbai and Chennai have severely faced problems of floods. In a situation like this you make one mistake and it assures you pay a heavy cost from your pocket. Engine damage is a common phenomenon, try starting your car when it is moist and you are gone with a blocked engine and this is where this specific cover comes as a savior
  4. No claim bonus cover: Don’t get confused by the Non claim bonus which is technically a discount which you while paying premium next year if you a claim free preceding year but what happens if you have made a claim it can seriously extrapolate your premium. This is a cover for every car owner can help you protect this discount. As the discount amount can range to a percentage of 50% opting for it can make lot of sense.
  5. Personal accident cover: This is a cover which comes as a true beneficiary for the policy holder. In case of death & permanent and partial disability of the rider the plan pays for it. It also pays for the driver also even if he or she is the owner so saves you from liability. But two things to remember in this case , if the car is company this is not effective and if you have multiple cover from different insurers at the time of claim only one will service you.


 The above five add-on covers are actually boons for the car owner and help him/her attain the level of customization which is required in a car policy so that you end of paying for only those things which you actually require and also makes your car insurance planning very robust.