Add-On Covers of Car Insurance Policy
Buying an insurance policy is compulsory in our country.
Introduction
The type of policy which gives wide coverage is Comprehensive Car Insurance Policy. To enhance this coverage even more, one can buy Add-ons. Add-ons are additional coverage options.
What is a Car Insurance Policy?
A car insurance policy is a contract between you and your chosen insurance company. According to this contract, the insurer will compensate you in case of damages in exchange of premiums. In simple terms, look at car insurance as a promise made by your insurer to pay for the repair bills of your car/third party liability. In turn you promise to pay the premium.
Add-ons can only be bought with a comprehensive type of policy.
What are Add-ons?
They increase the coverage offered by a standard comprehensive policy. Add-ons are optional. They increase the premium amount.
Which Add-ons are offered by Insurers?
Depending on the requirement of an individual, he can choose from the following add-ons:
Zero Depreciation
At the time of claim, the depreciated or reduced value of your car is not taken account. You can claim for the maximum amount payable by the insurer, after subtracting the deductibles.
Return to Invoice
As time passes, the Insured Declared Value (IDV) of your car reduces. But with this cover, you can claim the amount mentioned on the invoice of your car.
Engine Protection
With this cover, you can claim for the cost of getting your engine replaced or repaired, irrespective of an accident.
Accessories Covers
You can get the accessories of your car insured with this cover. In case of damages caused to the accessories of your car, you can file a claim under this add-on.
Consumable s Cover
Usually, when your car is getting repaired for damages, you need to pay for the repair/replacement/refill cost of consumable parts of your car such as, nuts & bolts, engine oil, lubricants, etc. But with this add-on, your insurer will bear this cost.
Loss of Personal Belongings
In case of thefts or total loss of a car, high-end belongings like laptops, smartphone etc. which are inside the car, are also lost. With this cover, you can claim for the cost approximately equal to the value of these belongings.
NCB Protect
With this cover, you can make a claim and still have the chance to avail a No Claim Bonus Discount on your policy premiums. But it is important to be aware of the terms and conditions of this add-on.
Roadside Assistance
With this add-on you can avail benefits like refuelling, towing, change of flat tyre, arranging for a mechanic's services, etc. in case of car breakdown.Â
To Know More Visit
https://www.acko.com
Thankyou!