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Published By: Financial Express
Published Date: 11-03-2022
Car insurance offers financial protection against various risks, including theft, accidents and third-party liabilities. However, many of us are unaware that the own-damage cover in comprehensive car insurance does not cover certain losses.
Rakesh Jain, our CEO, points out that engine damage and depreciation on car parts, which can lead to significant expenses, are not covered under the own-damage cover. This highlights the significance of certain important car insurance add-ons.
He explains how the Nil Depreciation Cover offers coverage for depreciation value that can help you cover a major portion of your liability during a claim. Similarly, the Engine Protection Cover add-on covers engine repair expenses in different scenarios.
Furthermore, if your car is stolen or suffers a total loss, the Return-to-Invoice cover can reimburse you for the exact invoice value.
Apart from these, you will come to know about other important car insurance add-ons you can consider.
Finally, he emphasises the need to look beyond just the premium when comparing car insurance policies and choose add-ons that meet your car’s requirements for comprehensive financial protection.
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