Buying car insurance can go a long way in giving you peace of mind because, then, it becomes the responsibility of the insurance company to take care of all expenses arising out of emergencies. Or does it?
The straightforward answer, though it may seem like a bitter pill to swallow, is no. At least not in each and every circumstance. The third-party car insurance, as the name suggests, takes care only of the claims made by the third party. Even the comprehensive car insurance does not take care of expenses arising out of all types of circumstances. This makes it imperative to buy add-ons to your insurance policy in order to cover certain kinds of emergencies which you may anticipate but which are not covered by your insurance policy. Before we move on to listing out the major types of add-on covers, it would not be out of place to mention that if you feel that buying car insurance is a big hassle, you can always buy online insurance to reduce the wastage of time and resources.
The Main Types of Add-on Covers for Your Car Insurance
- Emergency Assistance: In case your car has a breakdown on the highway and you are left high and dry and miles away from civilization, this add-on cover will help you with things like towing, refueling, changing a flat tire, and would also provide you with a mechanic if some emergence repairs have to be done.
- Return to Invoice: Usually when a car has an accident or is stolen, the current market value is calculated for the purpose of settling insurance claims, which is obviously a loss for the insurer. To avoid this, the insurer can purchase an add-on called “return to invoice” which will ensure that they get the full invoice value of the car in case it has an accident or has been stolen, or in some other way is damaged beyond repairs.
- Multi-year policy: This add-on, which is usually taken for three years, protects your vehicle from all the usual liabilities for an extended period of three years. With this add-on, you will also pay relatively lesser premium.
- Zero Depreciation Cover: This add-on is useful for new expensive cars or cars which have a lot expensive of accessories, because it will not take into account depreciation of the vehicle or the accessories in case an insurance claim is raised.
- Personal Belongings Cover: In this age of expensive portable and pocketable gadgets which people carelessly leave on the car seats or on the dashboard if they have to go out for a jiffy to buy something or for some other reason, which can be stolen, this add-on is particularly useful.
- Engine protection: Even a comprehensive car insurance policy will generally not cover damages to the engine of the car. You can remedy this by buying an add-on by paying a little extra premium which will take care of the situation in case the engine of the car is damaged in an accident.
Buy online insurance for your car from Bharti AXA and rest free of any worries regarding the liabilities that may arise from accident, theft, etc.