There are two categories of car insurance policies, which are known as comprehensive cover and third-party liability cover. Following Indian law, you are required to have the former, whereas the latter offers you complete protection even though it is not required. Because a comprehensive policy allows you to use additional advantages in the form of add-ons, your current coverage can benefit from adding these add-ons.
Therefore, it is also true that these add-ons will cause an increase in the total cost of your premium. Consequently, it is recommended that you carefully select your add-ons and refrain from purchasing optional ones. You have a choice between the following five such add-ons, depending on what your requirements are:
- Personal baggage:
Some of your personal belongings, like your laptop and mobile phone, as well as other expensive and valuable items, are in your possession. Even though you will be required to pay an additional premium, it will be well worth the money if any of these items are stolen, as you can get reimbursed for replacing them.
- 24×7 spot assistance:
You naturally want everything to go smoothly when going on long car trips with loved ones or close friends. However, it is impossible to anticipate any road accidents or mechanical failures. In addition, you should always be prepared to ask for assistance if you run out of gas or experience a mechanical failure that requires you to have your vehicle towed to the closest garage for repairs.
Especially if you travel relatively frequently, purchasing this additional cover for your auto insurance is something you should do to ensure you are prepared for any contingency.
- Lock & key replacement:
The tendency to lose things is shared amongst many people. One of these things that are prone to be misplaced or lost is a set of keys. This cover is tailored specifically for individuals who have a habit of misplacing their car keys. This cover option covers the costs associated with key replacement and fitting. If necessary, the insurance company can even purchase brand-new locks.
Make sure that you calculate the premium and research car insurance check online with the assistance of a car insurance calculator so that you can get the ideal deals when you are comparing different policies and optional add-ons.
- Consumable expenses:
This is a beneficial add-on because it covers the cost of all consumables, such as power steering oil, engine oil, coolant, gearbox oil, brake oil, etc., that must be paid for by the insurer while repairing the damage caused to the car in an accident. This makes it a beneficial addition.
- Protection against depreciation:
Depreciation is the process by which the value of an asset, including your vehicles, decreases over time. This is true for all purchases and includes the value of your cars. The rate of your vehicle’s depreciation is factored into the calculation determining the “insured declared value” (IDV) that your insurance provider provides for your car.
However, if you purchase a depreciation shield instead, the insurance company will not require you to pay any of your money in case of a claim.
You can easily compare multiple policies along with the add-ons if you take advantage of the vast amount of car insurance information available online. This information can be found in various places. Be sure you are well-versed in all the essential components of a policy.
You may not need those add-ons right now, but you can never tell what the future holds for you. As a result, it is preferable to have preparations in place. One of the vital things to remember is to maintain the current insurance policy during car insurance policy renewal & ensure to renew it on time.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
Subscribe to Bajaj Allianz General Insurance YouTube Channel here!