Understanding the Car Insurance Riders and Their Significance

Posted on: Jan 27, 2023 | | Written by:

Understanding the Car Insurance Riders and Their Significance

Published on January 27, 2023. EST READ TIME: 4 minutes

The comprehensive car insurance plans are very flexible, and you can customise them with the help of add-on covers. But what exactly are add-on covers, and how can you get them when you buy car insurance online? Let’s find out in the article below.

What are car insurance riders?

The add-on covers in motor insurance are also known as riders. Riders are extra covers that you can buy along with the basic comprehensive insurance policy. The car insurance add-ons help you to customise the plan and make it better suited to your requirements. There are various add-on covers available, and you can buy only the ones you need. It is not compulsory to buy the add-on covers, but getting a few of them proves to be very beneficial.

List of add-on covers available in car insurance

Listed below are the most popular car insurance add-ons that you may consider getting:

1. Passenger cover

While the personal accident cover is included in the standard comprehensive car plan, you can opt for an additional passenger protection rider for all the passengers in your vehicle. This is a very handy rider and can give you a cover of up to INR 1 lakh per passenger. Opt for this rider if you often drive with your family on dangerous roads or highways and keep them safe.

2. Engine cover

The engine is the heart of the vehicle, without which it cannot function even for a day! Sadly though, the standard car policies do not cover the engine of your vehicle under the scope of benefits. If anything happens to the engine, you are liable to pay for the repairs. However, you can opt for the engine protection rider and with that, the engine of your vehicle will be protected. This is a crucial rider, and it is very advisable to get it, especially if you have a new and expensive car.

3. Zero depreciation cover

When you have this rider, the depreciation of the vehicle and its parts is not considered. When you make a claim for damages or any kind of repair, the claim is settled as per the invoice value. In the absence of this rider, you will only get a percentage of the amount after the depreciation value is deducted.

4. Return to invoice cover

With time, the value of your car depreciates. As a result, the insurance provider also attaches a lower value to the car. However, if your car is stolen or destroyed beyond repair in an accident or fire, you will need a new vehicle to replace it. If you have the return to invoice cover, you can claim the entire invoice value of the car and with that, buy a brand-new vehicle. This proves to be extremely profitable.

5. Consumables cover

There are certain parts of the car that are known as consumables. These include nuts, bolts, lubricants, oil filters, grease, etc. The consumables are not covered under any insurance policy. However, they require frequent changes and repairs and so getting the combustible rider is highly beneficial.

6. Personal belongings cover

Most people carry expensive items such as high-end mobile phones and laptops, watches, bags, etc along with them when travelling in their cars. When the car gets involved in an accident, these items also get damaged or destroyed. If you have personal belongings cover, you can make a claim for the personal items damaged during an accident.

7. Roadside assistance cover

Your car may break down in the middle of the road due to an error in the engine. You may suddenly find yourself stranded due to the fuel getting over. Whatever the reason, your insurance provider will assist you and ensure you get moving when you have the roadside assistance rider. All you have to do is call the insurer, and they will send a mechanic to your location at the earliest. If the issue isn't fixed thereafter, your car will be towed to the nearest garage for repairs.

8. NCB protection cover

If you have a lot of accumulated handy, you have to exercise a certain amount of caution to ensure you have the best and the most no claim bonuses, you can surely make a lot of savings when paying your car insurance premium. Making a claim will not dent your NCB in any way, and you will be in a profitable position at all times.

9. Daily allowance cover

If your car meets with an accident or requires repairs due to some other reason, you will be left without a vehicle for a few days. You will then have to take cabs, etc. to travel. If you opt for the daily allowance rider, the insurance provider will pay you a fixed sum of money for each day your car spends at the repair centre.

As you can see, these riders are very useful and allow you to have the best and the most precise car insurance coverage based on what your requirements are.

Things to remember when buying car insurance riders

While car insurance riders are very handy, you have to exercise a certain amount of caution to ensure you have the best and the most comprehensive insurance coverage when you get the plan. Here are some tips for you:

1. Choose only what you need.

There are many car insurance riders available, but one person cannot possibly need all of them. Hence, you need to sit down and make a list of requirements. Once that is done, you will have a better understanding of what you need and which riders to choose for optimal coverage.

2. Keep the budget in mind.

You must have a specific budget for your car insurance expenses. Remember, every rider you choose would push up the car insurance price. So, look to buy what you need and do not exceed your budget.

3. Review the riders from time to time

You need to review the add-on covers each time you renew your motor insurance plan. You can drop or add riders at any time, so if you feel a specific rider is redundant, don't hesitate to drop it.

Advantages of getting riders when you buy car insurance online

It is very easy to get riders when you purchase online car insurance plans. Here are some advantages of the same:

1. Added coverage at marginal cost

The riders give you a lot of added cover and for that, you only pay a marginally extra cost. This proves to be very profitable in the long run.

2. Specific coverage

The riders help you to make the plan tailor-made for your specific needs and help you to protect your car in the most suitable manner.

3. Emergency help

Whether you need roadside assistance or you need extra funds after an accident, the riders offer emergency help when you require it the most. This is a beautiful benefit you get when you invest in the best add-on covers along with the comprehensive car insurance policy.

Conclusion

As you can clearly see from the points mentioned above, car insurance add-ons are very handy and beneficial. So when you are next buying car insurance online, ensure you select the best riders and have them attached to your comprehensive motor insurance policy. This will give you more wholesome and well-rounded vehicle insurance coverage.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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