Monsoon Motoring: Safeguard Your Vehicle with Add-On Covers
Bajaj Allianz General Insurance's Chief Technical Officer, Mr. T.A Ramalingam, advises on how add-on covers can provide comprehensive protection for your car during the monsoon season.
The monsoon season brings relief from the summer heat, but it also poses challenges for motorists. Waterlogging, traffic congestion, and car breakdowns are more common during this time. For those who rely on their vehicles during the monsoon, taking extra precautions to ensure their safety is crucial.
In such situations, motor insurance add-on covers can provide valuable financial protection in the event of unforeseen circumstances. Here's a look at some beneficial add-on covers you can consider alongside your base OD (Own Damage) policy:
Zero Depreciation Cover: As a car ages, its value depreciates, impacting claim payouts. This add-on covers the depreciation on replaced parts (except for tyres, tubes, and batteries with partial depreciation), ensuring a higher claim payout to the insured.
Engine Protector Cover: This add-on safeguards your engine against damage caused by water ingress, gearbox malfunction, and hydrostatic lock. It covers the cost of repairs or replacements for the engine and its components.
24/7 Roadside Assistance: This add-on provides support in case of breakdowns or mechanical problems. Policyholders can avail towing services, fuel delivery, battery jumpstarts, flat tyre repairs, minor on-site repairs, taxi benefits, and even accommodation assistance. This is particularly useful for frequent long-distance travellers. Notably, some insurers offer this cover free of charge to women drivers.
Consumable Cover: This add-on covers the replacement costs of consumables like engine oil, filters, grease, nuts, and bolts, which are typically not included in standard comprehensive or OD policies. This can significantly reduce out-of-pocket expenses during repairs.
Return to Invoice Cover: This add-on ensures that you receive the invoiced value of your car in case of total loss, constructive total loss, or theft. This is especially beneficial for owners of new cars or those living in high-theft areas or prone to natural disasters. However, some insurers may limit this cover to vehicles under three to five years old.
Key and Lock Replacement Cover: This add-on reimburses you for the cost of replacing lost or stolen car keys or repairing/replacing damaged locks.
Personal Baggage Cover: This add-on offers financial protection for personal belongings damaged or lost while travelling inside the car in India. It covers items like clothes, toiletries, electronics, and luggage loss due to fire, theft, or unrest.
Battery Protection Cover (For Electric Vehicles): A crucial add-on for EVs, this covers the replacement cost of the battery, a significant expense in case of water damage.
A comprehensive motor insurance policy with well-chosen add-on covers is essential for safeguarding your vehicle and yourself financially. Before finalizing your policy, carefully review the terms, conditions, and coverage limits of each add-on in the policy document. Making an informed decision can ensure you are financially protected in the event of a mishap.