Home Discover Journals Which Car Insurance Add-Ons Do You Need?

Which Car Insurance Add-Ons Do You Need?

By Finserv MARKETS - Dec 25,2019
Views Icon721 Views 0 0 Comments

Top Add-On Covers for Car Insurance

✓Save 80% on Premium ✓Zero Depreciation & Accessories Cover ✓Lock & Key Replacement Cover| Buy a Car Insurance Now!

It is mandatory to have car insurance in India. Insurance companies offer various add-ons over and above the existing insurance policy. Unless you have knowledge about the features of the add-ons, it might get confusing to choose the right one for your car. When comparing different insurance policies, the cheapest ones will be those without any additional benefits. However, to get the right level of cover at the right place, it is advisable not to overlook the add-ons without considering the benefits. You may think that your policy covers various things. However, this may not be the case. Hence, it is necessary to check what the policy covers before you decide to buy it.

Discussed below are a few essential car insurance add-ons that could prove beneficial for you.

1. Zero depreciation

Zero depreciation car insurance is one of the most recommended add-ons. The cover will entitle you to claim the entire cost of replacing the car parts without having to pay from your pocket. According to standard motor insurance policies, the insurer only reimburses the depreciated value of the car parts and does not pay for the replacement value. Insurance companies deduct the value from your claim before making a payout as they consider the standard depreciation. With this cover, you can avail of a full claim without any deductions for depreciation.

2. Engine protect

If you own a premium car, which is up to three years old, the engine protect add-on is an ideal one for you. The add-on compensates for the engine-related repairs, which are not related to accidents. It is worth purchasing the cover because the cost of repairs in case of engine damage can be very high. This cover ensures that any damage to the engine does not hamper your finances.

3. Roadside assistance

This add-on cover provides round-the-clock assistance for services like towing, refueling, change of tire, and arranging for a mechanic in case of a car breakdown. Some insurers companies offer this cover as an add-on while others offer it is as a built-in component of the base plan.

4. Accident coverage for passengers

This add-on is similar to a personal accident cover. It offers a lump sum to the insured passengers in the case of death or any total disabilities suffered during accidents.

5. No-Claim Bonus (NCB) protect

You will earn a No Claim Bonus when you do not make any claim in a year. The highest bonus that you can avail of is 50%. A higher NCB will lead to a low premium for the coming year. The NCB protect is an add-on, which allows you to retain the accumulated NCB even if you make a claim.

Consider these five add-ons for your car insurance policy and enhance the base cover. You might have to pay an additional amount for the add-on but it will be worth the money in the long run.

To know more on car insurance in depth, you can check out these blogs:

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”


Connect with Us
Connect with Us

Bajaj Finserv Direct Limited ("BFDL") is primarily engaged in distribution of financial products and services through its digital platform (“Bajaj Finserv MARKETS”) and inter alia renders services of customer acquisition, providing preliminary credit support activities, fulfilment services and post-acquisition customer services to Banks, NBFCs, HFCs. BFDL is also a registered Corporate Agent (Composite) under valid IRDAI registration number: CA0551 valid till 10-Apr-2024 for solicitation and servicing of Insurance Products. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522