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​​Car insurance is considered an effective tool to financially protect your car from risks such as road accidents, vehicle theft or third-party liabilities that may occur while driving. While having a valid third-party (TP) car insurance is mandatory for all vehicles plying on Indian roads, few owners are aware that in a standard comprehensive car insurance only an own damage (OD) cover is payable. Other losses like engine damage due to floods or depreciation on value of parts replaced are not covered in own damage cover, which can significantly increase the owner's liability in many scenarios. Let us have a look at a few indispensable car insurance add-on covers that are recommended to enhance the overall financial protection for your car and to ensure you enjoy a stress-free ownership experience.

Nil Depreciation Cover

As your car ages, its value depreciates with time, and you may not be able to recover the full cost of replacement of car parts. At the time of insurance claim, this results in partial recovery of the cost of parts replaced and can lead to a substantial liability in case of medium to major damages. A Nil Depreciation add-on cover protects you from this depreciation and expands coverage of repair cost to the fullest extent possible.

Engine Protection Cover

While modern cars are considered to be highly reliable, there are susceptible to hydrostatic lock related damages when the car is driven through flooded areas which can lead to huge expenses. Choosing an engine protection add-on cover assists in recovering the cost of repairs to your car's engine in such situations and also includes scenarios where engine damage arises out of leakage of lubricant oil in case of underbody vehicle damage.

Return to Invoice

If your is stolen or damaged beyond repair, it can cause a lot of mental stress and burn a big hole in the pocket. A Return to Invoice cover (RTI) add-on cover provides full reimbursement of the final invoice value of the car in such situations.

In addition to the above add-ons, other important covers include EMI protection, Consumable cover, No Claim Bonus Protection cover, Tyre, Key & Rim protection cover. It is advisable to compare car insurance policies on more than cost grounds and opt for these add-on covers as per car's requirement and protect yourself from myriad expenses that can occur in different driving conditions.