Insurance is legally a must-have for a vehicle to run on the roads. For a vehicle, the most basic insurance policy covers the damage to the third party. To insure the damages to your own vehicle, insurance companies offer own damage coverage. In recent times, car insurance companies have started to offer various add-on services on own damage insurance policies. These add-ons offer significant value for the money the insurance company charges. Here is the list of the add-ons you should consider while purchasing a new insurance policy.
Car Insurance Add-Ons :
All the add-on covers described below can be obtained additionally on the basic comprehensive insurance.
Must have Car Insurance add-ons –
1) Zero-Depreciation Cover –
Zero-depreciation, also called nil-depth/bumper to bumper covers the damage to the parts which falls under depreciation. It covers the whole cost of repair irrespective of the depreciation amount. In our books, zero-depth is a must-have add-on. It is available for the first five years only and you should definitely get it if your car is eligible for it.
2) Engine Protection Cover –
Engine protection cover protects from the damage to the engine and its components. It covers damage due to engine oil leakage, gearbox damage, physical damages and hydrostatic lock. The engine cover has significant value for money proposition and it also falls under highly recommended covers. The engine protection cover is available for the first five years only and you should definitely get it if your car is eligible for it.
3) Consumable Cover –
Consumables cover include all the consumable fluids such as engine oil, gearbox oil, coolant, brake oil etc. It also covers oil filters, grease, nuts, bolts and washers. It’s a must-have add-on cover and you should definitely get it for your peace of mind.
Optional helpful Car Insurance add-ons –
1) No Claim Bonus (NCB) Protect –
Whenever you process a claim for damage, the NCB % drops to zero. As the name suggests, NCB protects cover will save your NCB if you process a claim. Though, you can only take advantage of NCB protect if the number of claims is one for that particular year.
2) Return to Invoice –
In case of a total loss, the insurer pays IDV to the customer. IDV is always lower than the invoice amount of the car. With the return to invoice cover, you can get the same amount mentioned in the invoice of the car. It also includes registration charges of the car.
- Additionally, you can get car insurance add-ons such as RSA, tyre protect, key & lock replacement, personal belongings cover, accessories endorsement (electrical & non-electrical) etc.