Typically, a motor insurance policy will only pay for any direct damages, such as due to an accident. Usually, the replacement of spare-parts is allowed only up to a particular fixed amount in such policies. So, you might have to spend the rest of the amount from your own pocket. And usually, the chunk that you need to pay could be a major share. For instance, may be you would have to replace your vehicle’s windshield. The garage will give you an estimate of Rs 15,000. However, you might not get more than Rs 4,000 from the insurance company. And, such an expense burns a hole in your pocket.
So, what is the solution? Do you need to go in for a higher policy? No, add-on covers would get you a better deal. The best part is that there will not be any waiting period for such private car insurance riders. This means that you can purchase and use add-ons, as and when required.
Top 3 Insurance Add-ons to Consider
- Loss of Baggage and Belongings - By using this add-on, you will be able to make a claim for reimbursement in case there has been loss of or damage to personal belongings that were in the vehicle at the time of the accident. The benefit does not end there; you can make use of this cover without any effect on the No Claim Bonus of your policy. Of course, this relates to instances where you have not made any own damage claim. For this purpose, baggage and belongings includes any personal items carried during the journey in the insured car.
- Quick On-Road Assistance - This car insurance add-on ensures that you have assistance with regard to basic services, in case of an emergency. This can be especially beneficial when you are planning to drive through a remote location or a route that does not have an abundance of service stations. Such cover includes situations of flat tyres, drained battery, and fuel deficiency, to name a few. When stranded in a remote location, the insured can call the insurance company and request for a taxi service, as well as on-site repair or maintenance.
- Zero Depreciation - Zero depreciation is one of the most popular add-ons offered by motor insurance companies. It ensures that you are able to receive the full claim amount on the value of spare parts that are replaced after an accident. Of course, for older vehicles, it might come at a higher premium but the benefit outweighs the cost.