When purchasing a car insurance policy, most people prefer to spend as little time as possible. According to them, the market offers only two options, i.e. third-party liability which is mandatory by the Comprehensive insurance is the second one, after the Motor Vehicle Act. However, the truth is that by adding a variety of extra coverages at the time you purchase or renew your auto insurance, you can increase your coverage.
Understanding the crucial role of add-on covers is crucial if you want to select the best add-on covers to increase your auto insurance policy coverage.
Zero Depreciation: Even if you have auto insurance, no one wants to be in a situation where they find out at the last minute that they will need to pay out of pocket to fix their damaged car. A full coverage for your car in the event of a loss or damage in an accident is not, however, provided by any insurance policy. Choose No Dep if you want to avoid such a situation. or A full claim on the value of repaired or replaced parts following an accident is available to you with the Zero Dep. add-on. Companies typically don’t offer this type of add-on to cars older than 5 years because it is best suited for brand-new automobiles only.
No-Claim Bonus Retention (NCB): As implied by the name, this add-on serves as a safety net for your NCB. NCB is a bonus for not filing any insurance claims in the year prior. Most of the time, people renew their insurance every year rather than filing any claims. The insurance company offers a reward in the form of a discount on the premium cost of up to 50%, which the company will withdraw if the claim is made more than once. So, even if you file any claims, the NCB retention clause still applies.
Road Assistance: Imagine that you are returning home and, for any reason—such as running out of fuel, experiencing a technical problem, or having a dead battery—your car becomes stuck somewhere in the middle of the night. What would you do? This add-on, which looks after your car and helps you get home in an emergency, lives up to its name. You won’t need to worry about getting help while driving at night or in a remote area if you chose this add-on in addition to the standard auto insurance policy.
Personal Accident Cover: The insurance provider provides protection for both the owner and the hired driver with this add-on cover. Combining a personal accident insurance policy with a comprehensive auto insurance policy is an option. In the event of a permanent disability or accidental death brought on by an accident, this add-on provides you with a benefit of a lump sum sum.
Daily Cash Allowance: In the event of a significant collision, the process of having your car repaired is too drawn-out and, depending on the condition of the vehicle, your car may need to be stored in the garage for days, weeks, or even longer than a month. The only options available to you in that situation are to take public transportation or to hire a cab, both of which are expensive options, especially if you are on a tight budget. As a result, the insurance company will cover these daily commuting expenses under this add-on.
Additionally, you can combine your standard insurance policy with a variety of other add-ons, such as Return to Invoice, Engine Cover, and Key Replacement, which are all readily available on the market. In order to increase the coverage of your policy, make wise choices based on your needs.
