RGI CEO Rakesh Jain on Choosing the Right Car Insurance for Monsoon

Published By: The Ecnomic Times - Marathi

Published Date: 14-09-2023

Monsoon season brings significant challenges for car owners, with risks from heavy rains and waterlogged roads potentially causing costly damages. Rakesh Jain, CEO of Reliance General Insurance, offers guidance on securing proper insurance coverage during this vulnerable period.

A comprehensive vehicle insurance plan that specifically covers water damage is essential. However, Jain emphasises that standard comprehensive policies may not provide complete protection against monsoon-related issues, making add-on features particularly valuable.

The Engine Protect add-on is crucial as engines face heightened risks during monsoons, including water ingress and hydrostatic lock from driving through flooded areas. Zero Depreciation coverage ensures full-value protection without deductions when filing claims.

Roadside Assistance proves invaluable when vehicles break down in challenging conditions, providing services like towing, battery jumpstart and flat tyre replacement. Invoice Refund covers the difference between invoice value and claim amount in cases of total loss or theft.

For travellers, Emergency Hotel Accommodation reimburses lodging expenses during unexpected breakdowns while connecting owners to repair networks. EMI Protection helps cover car loan payments if repairs extend beyond 30 days.

Owners of hybrid or electric vehicles require specialised coverage, either through comprehensive insurance or specific EV protection add-ons that safeguard against power surges and liquid damage.

Jain advises reviewing current policies, comparing available options and upgrading coverage based on individual needs. Once these preventative precautions have been taken, drivers will be able to handle the monsoon season with confidence, knowing that their cars are well protected against the seasonal threats that they will encounter.