When you purchase a car insurance policy, it is essential that you also look into various other factors such as add-on covers. These additional covers are essential to enhance your existing car insurance plan. People assume that only having a comprehensive cover is enough for them. However, the plan won’t cover each and everything. Hence, add-on covers are available so that you can customize your plan just by paying a little extra premium.
Here are all the add-ons available for car insurance policy from which you can choose one that suits your needs:
- Key & Lock Replacement Cover
In case you misplace your car keys, you receive a fixed amount of the actuals incurred as the price for replacing the lost key or to change the lock itself.
- Zero Depreciation/Nil Depreciation Shield
If you don’t have this particular add-on cover, you will have to face heavy deductions from your amount claimed. You don’t get 100% of the expenses to repair damages that are caused to parts such as glass, plastic components, tires, etc., which go through regular wear and tear. The expenses are depreciated by a certain fixed percentage and they depend on the age of the damaged vehicle. But if you purchase the zero depreciation add-on cover, depreciation won’t be applied while calculating the claim amount.
- 24×7 Roadside Assistance
This add-on cover is basic yet very important to have. Nobody wishes to be absolutely helpless and get stuck in the middle of nowhere. With the help of the 24×7 roadside assistance cover, you can contact your insurer anytime and anywhere for help. Almost all general insurance companies will provide you with this cover.
- Engine Protector
In case your engine gets damaged as a result of leakage of oil, damages from water ingression, etc., the engine protector cover will protect your vehicle. Especially if you live in a flood-prone area, it becomes necessary to have this add-on.
- Consumables expense cover
The expenses incurred when replacing consumables such as oil, coolant, brake fluid, etc., due to an accident will not be covered under a basic car insurance policy. With the help of this cover, such expenses are compensated.
Add-on covers are very beneficial as they provide you with extra protection and also help you with savings. Every cover comes with different benefits that you must read thoroughly. Once you’re done reading, you can analyze your needs and pick the one that best suits your requirements. You can first calculate the premiums using the car insurance premium calculator online and know which add-ons cost how much and make your purchase accordingly.
Don’t buy unnecessary add-ons that will be of no use to you as they will add up to your car insurance premium amount.
Remember to go through the policy documents carefully to know what all is included and excluded from your insurance policy. Also, read the terms and conditions so it becomes easier for you during the car insurance claim process.