Whenever you take your car out for a drive, there is a probability of risk, sometimes small, sometimes big. Your car may face a mechanical breakdown in the middle of nowhere, you might get into an accident. Repairing and replacing parts of your car is expensive and can put a dent in your pockets. But if you have a valid ccar insurance policy, you and your car are protected against such expenses due to these damages. There might be few special situations where your car is not protected in the basic insurance policy or you may not get the full advantage of the policy if you don’t opt for certain add-ons.
These add-ons are additional features to your policy that give you complete protection in all situations and help you make the most of your policy. Since these add-ons provide you full protection, they tend to increase the premium you are required to pay every year. Read on to know more about these add-ons!
1. Zero Depreciation Cover
This add-on enables you to get the claim amount back without accounting for depreciation your car has faced. Depreciation is the reduction in the value of your car due to wear and tear. Every time you file a claim, the insurance provider deducts this value from your claim amount. As a result, you get less than what you claimed for. To avoid such a situation, you should opt for this add-on.
2. Engine Protection Cover
The engine is the soul of the car and it needs to be taken good care of. Any damage to the engine renders the car useless and it is extremely risky to drive a car with faulty engines. The cost of replacing the engine is also high. With this cover, your engine is protected against any damage that may arise and save you money on repairs.
3. No Claim Bonus
This cover helps in reducing the premium amount you are liable to pay for the next year. You get a percentage discount on the premium for the next year if you don’t file a claim in the current year. This percentage discount increases by 5% for every non-claim year in the subsequent year. This cover encourages safe driving and discourages filing claims for small amounts.
4. Roadside Assistance Cover
Imagine a situation where you are driving somewhere remote and your car breaks down and the only repair shop is somewhere far away. Scary, right? Well with this cover you can call your insurance provider and they will assist you. This reduces the stress of finding help by ten folds.
5. Return to invoice
The value of your car starts decreasing the moment you take it out of the showroom. With this cover, you can get the invoice amount of your car as the claim amount in the event of a total loss of your car. However, this is available only if your car is less than 3 or 5 years old.
Some of the add-ons have certain terms and requirements that you need to meet to be able to gain their benefits. Different add-ons have different requirements, so you need to be fully aware and understand these terms to avoid any confusion in the future. One thing to note here is that add-ons are available only if you have a valid comprehensive car insurance policy and not only a third-party insurance policy. To know more about car insurance, click here!