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With easy financing options available in the market, an increasing number of people in India are opting to buy cars for themselves

"Pilar Bair" (2019-09-30)


With easy financing options available in the market, an increasing number of people in India are opting to buy cars for themselves. However, once you have purchased the car, it is important to take steps to keep yourself and your car safe and protected.

For this, 다이렉트 보험 you need to get car insurance which is compulsory in India as per the Motor Vehicles Act, 1988. A primary car insurance policy provides basic coverage against loss or theft of the car, damage to the car or any third party liability involving the insured car. However, to get the maximum out of these policies, there are add-on covers that you can choose on the payment of some extra amount. These are riders or additional benefits that help enhance the coverage of your car insurance policy.

Of the long list of add-on covers, pick the ones suitable for you. However, some of them are really useful and you should consider including them in your base car insurance plan. Let us look at the 5 important ones.

Zero Depreciation Cover
As part of this rider, also called nil depreciation cover, the insurance company does not consider the depreciated value of various parts of the car while processing the claim amount. As your car ages, the cost of the parts of the car depreciates which is usually taken into account while calculating the claim amount. Thus, in case of an accident or theft, this add-on cover helps getthe entire value of the car as claim, without deducting the depreciation charges. This rider is specifically useful for cars worth over Rs. 6-8 lakh as the cost of the parts of these cars is usually high.

No Claim Bonus (NCB) Protect Cover
An NCB is the discount offered on the premium in case no claims are made during the previous policy period. This benefit can be availed at the time of the renewal of the policy. An NCB Protect Cover safeguards the accumulated bonus even if you did make a claim. In case of switching an insurance provider, you can also transfer the NCB earned with the previous provider.

Roadside Assistance Cover
While travelling, it might happen that your car breaks down or gets a flat tyre or runs out of fuel in the middle of no where. This is when a roadside assistance cover will come to your rescue. As part of the rider, the insurance company will provide help to manage such situations.

Engine Protect Cover
An engine is the main component of a car and it is imperative to keep it in the best of shape for a safe ride. A standard car insurance policy does not cover the engine of a car. Thus, this rider provides financial help to repair or replace the engine. Some of the perils covered by this rider include leakage of the lubricant, water ingression, gear box malfunction, etc. This add-on cover is not applicable for cars older than five years.

Consumables Cover
Consumables are the parts or substances needed while repairing a car. These can be nuts, bolts, coolant, grease, pipes, engine oil, ball-bearings, etc. The cost of consumables is quite high and it is usually not covered by a basic car insurance policy. These costs are recurring and thus, it only makes sense to get such costs covered by including consumables cover in your car insurance policy.

All the aforementioned riders are basic ones and should be considered as a part of your car insurance plan. However, before going ahead, always read and compare companies and plans for taking an informed decision.

Get to know all about all type of insurance visit: website Must Have Add-on Covers for Your Car Insurance