Demystifying Add-on Covers for Comprehensive Car Insurance

Posted on: Nov 15, 2021 | | Written by:

Demystifying Add-on Covers for Comprehensive Car Insurance

Published on November 15, 2021. EST READ TIME: 3 minutes

A comprehensive insurance policy provides the most comprehensive protection for your vehicle. With a comprehensive insurance plan, you can take comfort in the fact that any potential damages resulting from accidents would be easily covered. If you don't have comprehensive insurance, then you are taking a risk to pay out cash from your pocket for costly repairs after an accident. The importance of this insurance can be enhanced through some add-on covers such as Engine Protection, Zero Depreciation Coverage, Emergency Assistance, and so on. The best approach to give your vehicle additional coverage against some key situations is to add some add-on policies to your current car insurance coverage.

Here is the list of the 5 Best Add-on covers that You can Buy along with Your Comprehensive Insurance for Your Car:

1. Zero Depreciation:

It's also known as a Bumper to Bumper cover. This add-on function is highly recommended to you because it prevents the potential of the owner from incurring any out-of-pocket expenses. Your comprehensive car insurance policy's coverage can be enhanced with the zero depreciation add-on plan because, in this policy, the car insurance company pays the total claim amount without taking into account the car's depreciation.

2. Emergency Assistance:

Emergency Assistance which is also known as Roadside Assistance is one of the most important add-on covers in car insurance. This add-on protection is meant to help you in the event of a mechanical or technical breakdown. Its goal is to provide 24-hour road assistance for a pleasant driving experience. It also offers a variety of services like tire replacement, towing to a nearby garage, emergency fuel delivery, housing in the event of a breakdown, alternate travel arrangements, minor repairs on the spot, and so on. This policy is designed for you if you frequently travel long distances or appreciate convenience and ease of use while on the road.

3. Engine and Gear Box Protection Coverage:

When it comes to car insurance, the Engine and Gear Box Protection cover is regarded and considered an important add-on. If by any chance your car's engine or transmission gets damaged, this cover will protect it from the loss. These are the parts of a car that are used the most and thus suffer the most damage. This plan could be especially beneficial for people who live in locations, where regular water-logging during the monsoon increases the risk of engine damage.

4. Return to Invoice:

Return to Invoice which is also known as Invoice Protection Cover is extremely important for you because it acts as a safety net for your vehicle. If your car gets stolen or destroyed beyond repair, the insured client is entitled to full compensation, i.e. the car's last complete invoice value under this cover. It safeguards your finances against financial losses that may occur if and when your vehicle is stolen. This add-on enables you to collect a claim amount equal to the invoiced cost of your vehicle. It fills in the difference between the car's Insured Declared Value (IDV) and its Invoice Value (IV). In the situation of a constructive total loss, you can get a sum equal to the on-road price that you finally paid to purchase the automobile with this coverage.

5. Cost of Consumable Items:

The standard comprehensive car insurance coverage does not cover consumables such as oil, screw, nut, and bolt, grease, bearings, and so on. You can limit your cash outflow from your wallet while paying for the repair bill by adding the consumables add-on policy. However, with this add-on, your insurance will payout for the cost of such consumables. Because the cost of consumables in high-end cars is substantially greater, it is advised to get this to avoid such costs.

Concluding Comments:

Buying a car is one of the most expensive decisions which you might take in your life and you will want to protect it from damages and for that purchasing a comprehensive insurance is the finest move you can make. It not only provides the required third-party liability coverage but also protects your car in the event of damage. You can also buy some add-on covers to protect your car. These coverages are needed because it provides end-to-end benefit and relief to the policyholder.

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

All You Need to Know about Add-On Plans in Car Insurance

Understanding the Add-On’s

How to decide which add-on cover do you need for your car?