Everybody in India knows they need car insurance to legally drive. Every year, people complete the car insurance renewal process on auto-pilot, forgetting to look at the add-ons they can opt for to enhance their coverage. If you’re about to purchase car insurance or renew your policy, here are some car insurance add-ons you should consider:
Zero Depreciation Cover
The moment you drive your car out of the showroom, its value drops. With every passing year, the value continues to depreciate. Unfortunately, if you need to repair a part or replace it, you have to buy it at full price. Your insurance provider will only cover the cost of the depreciated part, so you have to pay for the difference from your pocket. When you opt for zero depreciation cover, your insurer will continue to consider the market value of your car and its parts. It’s always a good idea to purchase zero depreciation cover with your vehicle insurance policy for a new car. You cannot purchase this add-on for cars that are over 5-years-old.
The engine protect add-on will help take care of damage to your car’s engine. The add-on is ideal for people who stay in areas that face a lot of rainfall as floods can damage your engine significantly. Generally, water damage to your engine gets written off as a consequential loss. When you opt for this add-on, your insurer will help you pay for repairs or even to replace your engine.
Your car is a complex piece of machinery that has a lot of parts working together. Engine oil, nuts and bolts, ball bearings, coolant and more are known as consumables. Generally, the car owner has to pay for these consumables even during repairs. Should you opt for consumable cover, your insurer becomes liable to pay for the cost of consumables after you make a valid claim.
Return to Invoice
This vehicle insurance add-on is similar to zero depreciation. In case your car is damaged beyond repair or stolen, generally referred to as total car loss, your insurer will typically only pay the depreciated value of your vehicle. With return to invoice cover, your insurer will reimburse you for the invoice value of your car. You must purchase this add-on at the start since it is not available when the car is more than 3-years-old.
Many people consider their tyres to be the most crucial part of their vehicle. Generally, wear and tear to tyres or the cost of replacing a tyre does not get covered by insurance. With the tyre protection add-on, you can drive across the country without worrying about an unforeseen event turning your trip into a nightmare. Your insurer will help you repair or replace your tyres as required.
You can select to purchase add-ons with your Edelweiss motor insurance policy online or offline. While purchasing car insurance online, ensure you select only the add-ons you require. Opting for unnecessary add-ons may increase your premium without providing any benefits. Double-check your policy wordings to understand the inclusions and exclusions and make an informed choice. Armed with the right information, you can enjoy worry-free drives every time!