Enhance Your Car Insurance this Diwali with these Essential Add-on Covers

Posted on: Oct 28, 2024 | 3 mins | Written by: HDFC ERGO Team

Enhance Your Car Insurance this Diwali with these Essential Add-on Covers

As the festival of lights, Diwali, approaches, many of us are busy preparing for celebrations. Along with shopping for new clothes, sweets, and gifts, this is also the perfect time to assess your car insurance coverage and enhance it with essential add-on covers. As much as people are happy and enthusiastic when they celebrate, there is always a high risk of road accidents associated with increased traffic and, at some point, firecrackers. Being assured that your car is covered with the best insurance offers not only protects your car but also gives you the opportunity to enjoy the holidays. In this blog, we will discuss the additional coverage available for car insurance.

Why Diwali is the Best Time to Upgrade Your Car Insurance?

Like any typical end-of-the-year celebrations, insurance companies note the Diwali celebration period as the best time to offer special promos or discounts, hence the best time to review your current insurance policy and include what you might need with added features at a lower price. However, the chances of having an accident while driving during the festivals are high because roads are congested, and thus, having additional coverage might save you some money.

Top Add-on Covers to Consider for Your Car Insurance This Diwali

1. Zero depreciation cover

As the name suggests, by opting for a zero depreciation cover, the policyholder is completely shielded from a vehicle depreciating. The usual car insurance policies allow depreciation while paying out claims, and that is why you don’t receive the amount equal to the damaged parts that have to be replaced. A zero depreciation policy allows the insurer to completely bear the expenses of parts, enabling you to steer clear of depreciation expenses.

2. Engine Protection Cover

The Engine is considered to be one of the most important and costly parts of your automobile system. Regrettably, standard car insurance policies sometimes include the exclusion of engine damage resulting from water emissions or oil leaks, which are common during monsoon season or on poorly paved roads. An engine protection cover assists in making sure that you are secure against such harm.

As with the Diwali festival, which is accompanied by a high rate of accidents, this is a good time to consider adding this coverage to your car insurance. This will help you avoid any costly shocks from an engine that you are not prepared to work on and will greatly reduce your repair costs.

3. Return to Invoice Cover

In case of total loss or theft, a regular car insurance policy compensates based on the insured declared value (IDV) of the car, which is reduced progressively with the passage of time because of the factor of depreciation. However, this is where the RTI cover comes in; the insurer just pays you back for the invoice cost of the car, which will include the registration fee and road tax.

If your car is not very old or you reside in a high-risk zone for car theft or total damage, purchasing return-to-invoice add-on cover when you are renewing your car insurance during this Diwali season will help to protect your wallet in case the worst happens.

4. Roadside Assistance Cover

A roadside assistance add-on cover guarantees that assistance is equally a call away when you have a car breakdown, out of fuel or a flat tyre. Here, the insurer offers fast services, including towing, fuel delivery and even instant repairs.

Especially during Diwali season when the roads are congested and have a higher tendency to experience a road accident then this emergency assistance cover comes in handy. It also makes sure that once you are ejected off the road, you can get back on with ease and without anyone complicating matters.

5. Consumables Cover

Wear and tear items that are not normally covered by normal car insurance policies include nuts and bolts, screws, engine oil, brake oil and any other material that may be used in the process of making the necessary repairs. Incorporating the consumables covered in your policy makes sure that you do not have to use your pocket money on such executives when making your claim.

6. No-Claim Bonus Protection Cover

This refers to an NCB that helps the policyholder retain the bonus because of the discounted premium given upon the renewal of the policy. But a single false claim is sufficient to nullify such a bonus. A no-claim bonus protection cover allows you to make a limited number of claims without affecting your NCB.

Since the festive season comes with its risk factors, including accidents, it is possible to protect the discount gained through the addition of an NCB protection cover.

7. Tyre Protection Cover

Although tyres are an essential component of the vehicle, and their condition determines the performance and safety of your car, the standard car insurance policy does not cover them. A single tyre can be expensive, but having to replace more than one might prove to be even more expensive. In other words, a tyre protection cover helps the insured recover the cost of repairing or replacing a tyre that has been punctured, burst, or damaged in other ways.

Since Diwali time is marked by debris from burning firecrackers on the roads, investing in this add-on can help protect your tyres from damage.

How to Buy Car Insurance Online and Add These Covers?

Car insurance is very easy to buy or renew through the Internet. Almost every insurance company provides a simple-to-use webpage or application where you can view several insurance policies and their additions as well as compare premiums. There is another boon associated with online purchasing; one can always get several percentage point discounts and festival offers that are available only for online purchases which is why car insurance purchases are advisable to be made online.

Here’s how you can buy or renew car insurance online and add essential covers this Diwali:

1. Visit the Insurance Provider’s Website: Go to the car insurance tab and fill in your car specifications.

2. Choose the Type of Policy: If you want to have the highest levels of coverage that will include everything, then choose an omnibus policy. You may opt for third-party insurance though but it does not provide protection to your vehicle in case it gets bumped.

3. Select Add-ons: Choose the other compulsion policies, which are ancillary coverages such as zero depreciation or engine protection, and all such policies that you may require.

4. Calculate the Premium: After you have input the covers, the website will show the overall cost of the policy. You can always adjust the general coverage and additional features if necessary.

5. Make the Payment: Proceed to make the payment and your car insurance will be renewed online within the shortest time possible.

Conclusion

Wishing you a happy Diwali; As you extend your festive welcome with sparkling lamps to your home and loving bonds with your friends and families, make sure to protect your car with a comprehensive car insurance policy. Festival seasons attract more traffic and the risk from firecrackers sometimes results in accidents and damages; thus opting for some car insurance add-ons is very crucial to result in to.

Whether you’re buying a new policy or planning to renew car insurance this Diwali, the add-ons discussed above can offer enhanced protection and peace of mind. Don’t wait—buy or renew your car insurance online today and enjoy a worry-free festive season.

Happy Diwali, and safe driving!

FAQs

1. What are the benefits of buying car insurance online this Diwali?

Convenience, holiday savings, and the option to personalise coverage with necessary extras like roadside assistance, engine protection, and zero depreciation are all benefits of purchasing auto insurance online during Diwali.

2. Why should I add zero depreciation cover?

Zero depreciation coverage maximises your compensation by guaranteeing complete reimbursement for items replaced during a claim without subtracting depreciation.

3. Can I include these covers when I renew car insurance this Diwali?

Yes, adding these coverages to your online auto insurance renewal this Diwali is simple.

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

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