How Car Insurance Add-on covers Help Protect Your Car Better

How Car Insurance Add-on covers Help Protect Your Car Better

How Car Insurance Add-on covers Help Protect Your Car Better

When you buy a car insurance online, you also get the facility to avail add-on covers with it by paying an extra premium amount. These add-ons are additional protection or coverage offered to cars by insurers so that the insured person can enhance their overall car insurance. Hence, these car insurance add-ons allow comprehensive coverage against several things like consumable item replacement, protection against damage caused to the tyre, car keys,  rim etc.       

Motor insurance is a financial security that allows owner of an insured car to incur the expenses of repairs caused to your damaged car.  Along with covering for the financial loss, insurance also allows an individual to drive his/her car without any worries.  As such, we all know that as per the Motor Vehicles Act 1988, it is mandatory for each and every car owner to insure their car so that they could cover at least the third party damages.

If you are a novice about your knowledge in the insurance sector, let us make it simple for you. So, in the insurance field the first party is the insured or the owner of the insured car, the second party is the insurance company whom you buy your car insurance policy from, and the third party is the one that the insured car causes any damage to or whom the insured car collides with.   

To cover your car appropriately, there are three types of car insurance online policies; 

  • Third-party policies 
  • Standalone Own Damage Policies, & 
  • Comprehensive car insurance policies

In terms of cover, a third-party policy protects the insured against any third party liabilities. standalone policy cover against damages caused to your own car. And the comprehensive policy protects against both third-party liabilities and own damages. However, taking into account the growing needs of vehicles it is better to buy comprehensive car insurance policies for your car.

Further, you must note that add-on covers are not available with third-party policies. Rather, they are available with comprehensive car insurance and enhance such policies against several covers. 

Different Types of car insurance add-on covers 

Comprehensive car insurance allows extensive protection, which can further be strengthened with the help of car insurance online add-on covers. Below are some of the best add-ons available with comprehensive policy:

Zero Depreciation Add-on Cover – Under this add-on, you do not have to pay the amount of depreciation cost. Thus, this claim relieve you of depreciation and at the same time allows you to receive a good claim amount.    

Engine Protection Add-on Cover – Most regular comprehensive insurance covers do not protect against this very important part of your car in case of non-accidental damages. However, with an engine protection plan, you can get coverage against several engine damages.

Return to invoice add-on cover – The return to invoice cover allows car owners to make claims for the complete invoice value of their vehicle in the event of car theft or if the car gets stolen.  

No claim bonus protection add-on cover – This cover allows you to protect your NCB discounts even if you make one claim during a policy year.

Key and lock damage replacement add-on cover – If there is any severe damage to locks and keys of your car, this add-on cover saves you against the charges.  

Consumables Cover – Items like nuts, bolts, grease etc. can be covered under this add-on policy. So, this cover allows you to reimburse against consumable items.  

Daily Allowance Cover – This car insurance online addon helps in case the insured car is getting repaired and allows the car owner to bear the repair expenses.  

To Conclude 

It is for sure that buying a car insurance online along with having add-ons allow complete car protection and mental peace to an insured person. So, to enjoy extensive car insurance benefits, it is important that car owners choose an appropriate car insurance policy and buy some good add-ons as per their need. Despite being trivial, these add-on covers are important to allow financial safety of your car.

Further, if you buy such a policy from PayBima by Mahindra Insurance Brokers, you can get the added benefit of easy comparison of policies and their features. Thus, you can buy the best policy by comparing several policies in one platform.