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Car Insurance - Add On Covers

Nowadays almost every second person owns a vehicle. And driving their vehicles on Indian city roads, where the space is over occupied with all kinds of vehicles, in addition with pedestrians, and rash drivers is a challenge in itself. In such a circumstance, there is a very high probability of an accident leading to damage of vehicle and/or third party damage/death.

It is a fact that as per law, anyone who owns a vehicle needs to have a motor insurance​ policy. However, even today, there are many individuals who buy their motor insurance policy only to meet the orders of law and avoid the challan put by the police official. There are many individuals who are not aware about the requirement of motor insurance policy and they do not understand why we need our vehicle insurance.

People often fail to understand that If they are driving their vehicle without valid insurance policy, and if any damage occurs due to accident, then he/she has to pay for the total liability from his/her own pocket. In addition, if there is a third party damage or death, then there is a possibility that driver or vehicle owner will be liable to compensate for the damage or death. Whereas, if they have the right motor insurance policy, the cost towards the damage and/or loss of the vehicle in addition to the liability towards third party loss will also be taken care by the policy.

We have so many additional covers to increase the vehicle’s safety:​

  • Nil Depreciation Cover: We can opt this cover with a little additional premium to protect additional depreciation charges at the time of claim.
  • NCB Retention Cover: We can opt this cover to protect our No Claim Bonus even after claim in running policy.
  • Total Cover: We can get insured our additional cost of vehicle, This cover allow benefit to get reimbursement of the amount spent on Registration Cost, Road Tax and Insurance at the time of Total Loss, Constructive Total Loss or Theft Claims.
  • Additional Towing Charges: If vehicle is not in a condition to be driven on it's own due to accident and required to be towed will within the scope of this cover.

We all must have vehicle insurance with maximum add - on covers for our safety, our vehicle's safety and most important for others safety.

Article by Rajesh Kumar Arya