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Car Insurance Importance in Financing Car Maintenance Cost

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Published on February 20, 2019. EST READ TIME: 3 MIN

Owning a car makes you proud especially when you keep drawing admiring glances. However, maintaining the car and repair and servicing costs may cost you a great deal of amount.

A few simple checks are beneficial to reduce your trips to the workshops. Here are six tips to maintain your car better and reduce your costs.

1. Condition of the tires

Most car tires have a certain life expectancy before they need to be replaced. However, you may be able to extend their useful lives by keeping a check on the pressure to reduce its wear and tear. You must also periodically swap front and back tires to ensure even wearing out.

2. Battery condition

Ignoring the condition of the car’s battery may be problematic. You must check the battery terminals to identify any signs of corrosion and clean any accumulations. If you do not drive your car regularly, the battery may drain out. It is recommended you warm up the battery every few days to prevent this.

3. Spark plug

The spark plug emits electric spark to power your car. Although these plugs do not require frequent maintenance, they must be periodically replaced. Ensuring the spark plug is replaced in time prevents emission-related issues.

4. Engine oil

It is recommended you check the engine oil level from time to time to ensure its smooth running. You must use high-quality lubricants specified for your car for the best results.

5. Filter requirements

Air and fuel filters must also be periodically maintained. Air filters ensure contamination-free airflow to the engine. The fuel filters are beneficial in preventing clogging of fuel injectors. You must ask a trained and experienced technician to replace these filters at the time of servicing your car.

6. Coolant

The green-colored coolant prevents the engine from overheating. You must frequently check its level, especially during the hot season to prevent drying.

You must regularly check and inspect your car to maintain it in good working condition. Adhering to the service schedule as provided by the manufacturer will ensure your car keeps running smoothly.

Maintenance costs often are very high and result in huge expenses that may cause a financial burden. You may wonder if these costs are covered under your insurance policy. For your information, maintenance costs are not covered under any motor insurance policy.

If your policy is a third-party cover, any bodily injuries, property damage, and death of third parties due to an accident are covered. A comprehensive policy covers natural and man-made calamities in addition to the third party coverage. However, regular wear and tear of your car is not covered under an insurance policy.

But, you may include certain exclusions under a comprehensive plan by paying a higher premium. Here are two such headings you may include.

1. Regular wear and tear

The car maintenance cover is not available for wear and tear due to regular usage. Therefore, the insured declared value (IDV) is determined when you renew your policy. The IDV is adjusted for depreciation as per the norms of the industry. However, you may opt for zero depreciation coverage to enjoy more benefits. This cover pays you the  right value without considering depreciation.

2. Mechanical and electrical breakdowns

These are often not covered under a regular car insurance policy. This means, the engine (which is one of the most important components) is not covered. There may be certain situations where the engine may seize work. It is recommended you avail of engine protection cover to maximize benefits of having car insurance.

Most regular motor insurance includes certain types of permanent exclusions. It is important you understand these by reading the policy documents carefully. Furthermore, car maintenance coverage is not part of a regular policy and opting for it as an add-on will help reduce your financial burden.

This blog has been written by

Mukesh Kumar| Motor Insurance Expert |36+ years of experience in insurance industry

A veteran in the insurance industry, Mukesh Kumar has the expertise of handling various functions like Business Development, Underwriting, Claims, Human Resources, Quality Management and Marketing. With rich knowledge of the industry, he loves to share his views on topics of insurance sector and takes special interest in educating people on advantages of having insurance.

Mr. Mukesh Kumar recommends "getting your two wheeler insured from HDFC ERGO, a brand serving more than 1 crore+ customers. With overnight repair services and more than 7,600+ network garages, you can be assured of help in event of any damage to your vehicle".

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