Be it an old car or a new car, a car is a precious asset. Some even might consider the four-wheeler as an integral part of their family. Whether you are emotional about your car or have a practical outlook towards it, you wouldn’t deny that a comprehensive car insurance policy is a productive financial security measure. A basic Comprehensive plan might not allow the scope for personalization but Add-ons can provide that much-needed flexibility. Read ahead to know 7 essential car insurance add-on covers for Indian roads.

 

• Zero Depreciation Car Insurance

A Zero Depreciation Car Insurance cover is ideal for new and semi-new cars. Depreciation can be understood as a reduction in the value of an asset due to natural wear and tear. Usually, when a car insurance claim amount is calculated, an insurer deducts the depreciated value before settling the claim. With a Zero Depreciation cover, the insurance company will not deduct this value and you shall receive a higher claim amount.

 

• Roadside Assistance

As the name suggests, this Add-on provides roadside assistance in case your car breaks down mid-way on a journey. Such a breakdown could be because of an empty fuel tank, technical issue in the engine, or any other problem. In such a scenario, all you have to do is inform your insurance company and they shall assist you by sending a mechanic or towing the vehicle to the nearby garage so that you do not have to face any hassles.

 

• NCB Protect

Many people are not aware of the fact that insurers offer a No Claim Bonus (NCB) if you do not raise a claim during the policy period. This NCB is a discount that can be utilized at the time of car insurance policy renewal. NCB can be as high as 50% provided no claim is raised for a period of consecutive five years. However, if you raise a claim, this NCB will reduce to zero. This is where the NCB protect Add-on can prove beneficial. This Add-on will keep your NCB intact even if you raise a claim during the policy period.

 

• Return to Invoice

This Add-on comes in handy in case of total loss. Total loss pertains to irreparable damage or theft. In such scenarios, the insurance company settles the claim by paying the policyholder the car’s Insured Declared Value (IDV). This IDV is calculated by reducing the applicable depreciation and other charges such as road tax. However, in case you have a Return To Invoice Add-on, the insurance company will pay the entire invoice value of the car and not just the IDV.

 

• Passenger Cover

You, as a car owner have a Personal Accident cover when you buy car insurance, but what about your fellow passengers? Aren’t you concerned about them? Those who frequently travel with passengers, must consider going for a Passenger Cover as it insures the passengers in case of injuries suffered due to the insured car’s accident.

 

• Accessories Cover

Some people modify their cars to a great extent. They might add some accessories to the car for beautification. Such accessories are not covered by a basic Comprehensive plan. If you wish to cover such accessories, you need to opt for an Accessories Cover.

 

• Personal Belonging Add-on

It is difficult to live without gadgets in today’s internet era. People often travel with expensive mobile phones and laptops in their car. These personal belongings can be covered if you opt for a Personal Belonging Add-on.

 

Car Insurance Online India

All these Add-ons can be easily purchased while going for car insurance online in India. Irrespective of which Add-ons you purchase, make sure to understand the terms and conditions associated with it before purchasing.