Monsoon care: Top automobile insurance coverage add-ons to save lots of your car throughout rains

For those that see insurance coverage add-ons as extravagant spending, they have to perceive {that a} complete automobile insurance coverage coverage could solely cowl among the damages and depart individuals with a hefty restore invoice. Therefore, it’s essential to go for automobile insurance coverage add-on covers.

“In mountainous areas, landslides trigger heavy harm to automobiles. Sometimes, this harm is also whole loss harm (i.e., the automobile can’t be repaired). Furthermore, harm equivalent to a tree falling on the car attributable to heavy rains is one other widespread incidence for which policyholders should go for motor insurance coverage add-ons, particularly earlier than the onset of monsoon season,” explains says Nitin Kumar, Head – Motor Insurance, Policybazaar.com.

It is not necessary to buy all the add-ons and car owners can opt for those which suit their needs and are required the most as per their location of residence. It is not necessary to buy all the add-ons and car owners can opt for those which suit their needs and are required the most as per their location of residence.

Types of car insurance add-ons required during monsoon

Engine Protection Cover: The car’s most crucial part is its engine, which means it requires extra protection against damages, especially during monsoon.

“People who live in areas prone to floods or water-logging must opt for this add-on. Engine protection add-on safeguards the policyholder from financial hardships due to damages like liquid/water ingression, an engine malfunction, hydrostatic lock or leakage of engine oil, etc. It also covers the replacement cost of damaged engine parts,” says Nitin.

24×7 Roadside Assistance Cover: At instances, individuals face car breakdowns in the course of highways amid heavy rainfall. In such instances, 24×7 roadside help cowl generally is a rescue for insurers. This insurance coverage helps car homeowners get skilled assistance on time in order that the issue is mounted at an reasonably priced value.

Zero Depreciation Cover: This add-on protects the policyholder from practically all types of car harm. It protects all of the car parts. Whereas, there’s 50 per cent protection for tyres, tubes, and batteries.

Daily Allowance Cover: There is one other rider choice that compensates the policyholder for the price of hiring an alternate car for a number of days as much as a hard and fast day by day restrict when the automobile just isn’t in a situation to run in any respect and has gone.

Emergency Hotel Accommodation Cover: An acceptable insurance coverage choice for many who are planning a automobile street journey this monsoon. Under this cowl, policyholders will get an allowance in direction of lodge room hire, in case of emergency lodging required attributable to an accident involving the automobile.

Consumables Cover: Under this add-on, policyholders can declare the restore of their nuts, bolts, gears, and so forth. At instances, nuts, bolts, gears, and so forth, get rusted if the car is pushed on pothole-filled roads. “While it may not value a lot to switch/restore a person merchandise, the mixed value generally is a few thousand. A consumables cowl can defend you in opposition to such bills, in case of unintended harm,” says Rakesh Jain, CEO, Reliance General Insurance.

Tyre Protect Cover: Tyres face a lot of wear and tear during monsoon season. Having such an add-on helps in financial assistance on full labour charges and tire replacement costs.

EMI Protection Cover: “If you have an EMI on your car, and if the vehicle is in a garage for more than 21 consecutive days for reparation of damage due to rain, and you cannot use the car, then this add-on will cover the car’s EMIs and pays them to the financer,” explains Jain.

Factors to contemplate whereas shopping for automobile insurance coverage add-ons

Rakesh Jain explains that automobile homeowners should consider the wants and dangers of their automobile based mostly on elements like age and situation of their automobile. earlier than taking an add-on. Owners also needs to take into account the frequency and distance of driving and the climatic situation of their space.

They should additionally examine totally different choices earlier than including on a canopy. They should examine choices accessible with varied insurers, equivalent to options, advantages, exclusions, limitations, and prices.

At final, he advises automobile homeowners to learn all of the phrases and situations rigorously to keep away from any confusion later. They should undergo vital factors like phrases and situations, eligibility standards, exclusions, and limitations, declare course of, and documentation necessities of the covers.

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Updated: 29 Jun 2023, 10:25 AM IST