Tuesday, October 23, 2018
By CarKhabri Team
Add-on Covers - The Best Way To Customize Your Car Insurance
The chances are high that your aspiration list comprises of buying a car. And buying one is easier these days than what it used to be earlier. With an improving economy and access to better financing options, the dream of buying a car can be easily met.
Buying a Car Insurance Policy
There is no denying the fact that each one of us has a different reason for buying a car. While some buy it for the sheer pleasure of driving, others buy it to fulfill the need of driving together with family or friends. It is important to keep a track of and be on the top of several other things that come along with a car. For starters, while buying a car, you need to factor in the fuel costs as well as the regular maintenance costs. But most importantly, getting a car insurance policy is crucial. This ensures, that your vehicle is road legal. How do you ask? Well, the Motor Vehicle Act of 1988 mandates all the vehicles on the road to have a valid car insurance policy so as to be legally driven on Indian roads.
Thus, under most circumstances, new car insurance is something that a lot of car buyers are not bothered with. Simply because they know that new car insurance will be provided by the dealership. The theme of everyone having different needs carries on from cars to insurance policies as well.
Unlike the popular belief, car insurance policy doesn’t usually come under the one size fits all category. If you are a potential policy buyer, here is some good news. In the event that you buy a car insurance online and are not happy about its coverage, you can always use add-ons. As the name suggests, add-ons are additional features that you can plug into your policy by paying some extra premium.
Though you end up paying an additional premium, it is much better than not having proper coverage or buying a new policy altogether. Add-ons essentially allow you to customize the policy as per your needs.
Here are some of the most popular add-ons that you can opt for when you buy car insurance online.
● Zero Depreciation Car Insurance: When you opt for this cover, it ensures that depreciation doesn’t reduce your claim amount. When you proceed with a claim for policy, insurers deduct the depreciated value of parts or spares. This means you end up paying any difference in the both. And that at times can mean a considerable amount of money. When you opt for a zero depreciation car insurance, insurers would be forced to consider only the market value of the repairs and spares. Thus, saving you an additional amount.
● Engine Cover: Over the last decade, there have been several instances of flash floods or cyclones in the country. Of course, keeping yourself safe would be the highest priority. However, at such times your car can undergo a lot of damages. Flooding of the engine bay is one of the most common occurrences. The engine cover add-on ensures that damages arising out of natural calamities are well taken care of.
● Roadside Assistance Cover: One of the benefits of having a car is that you can go out on long drives. However, a problem such as flat tire, empty tank, vehicle breakdown or others can hamper your trip. Especially when there aren’t any mechanics or service centers in sight. Having a roadside assistance cover can take care of such situations.
● Consumable Cover: If you ever take a closer look at the car repair bills, consumables make a good chunk of the amount that you have to pay. Consumables such as gearbox oil, clutch oil, coolants, brake fluids etc. can cost you a considerable amount. If you opt for the consumable cover, you need not worry about these expenses.
● Comprehensive Cover: Buying a comprehensive cover is very beneficial when you opt to buy a car insurance online. If there are any damages to the car due to fire and related perils, the cover can ensure complete financial protection for you.
Add-ons are a great way to enhance the capabilities of your policy and lets you customize it as per your needs. Given the features and benefits on offer, it is worth paying the additional premium and getting complete peace of mind.