There are many types of add-ons in car insurance. Each of them serves a specific purpose and has been designed keeping in mind the benefit of policyholders. Some of the popular add-ons are:
Zero depreciation cover
A zero depreciation car insurance add-on helps you get a full claim without deduction. Generally, insurers cut some amount for depreciation when you raise a claim. With this add-on, the company pays the full cost of replaced parts. This helps keep your out-of-pocket expenses low. It is useful for new or expensive cars, as even small damages can be costly.
Engine protection cover
The engine protection cover is one of the most sought-after add-ons in car insurance. It covers the cost of repairing or replacing your car’s engine parts in case of damage due to water ingression, oil leaks, etc. Repairing a damaged car engine can be quite expensive. This add-on is particularly useful for those living in flood-prone areas.
No claims bonus protection cover
A no claims bonus (NCB) protection cover helps you keep your discount on car insurance even after making a claim. Normally, if you raise a claim, your NCB gets reduced or reset. This add-on helps you keep your NCB intact. It can also help save on premiums in the long run.
Roadside assistance cover
One of the most useful car insurance add-ons, it comes to your rescue when your car breaks down in the middle of a journey. It provides support for flat tyres, dead batteries, towing or even fuel delivery. This add-on saves you from stress and unexpected costs on the road. It makes your trips safer.
Return to invoice cover
This add-on helps you recover the full value of your car in case it gets stolen or damaged beyond repair. Instead of just getting the current market value, it pays the original invoice amount. This includes road tax and registration. With it, you can save yourself from the big gap between your car’s market value and the price you paid.
Daily allowance cover
A daily allowance add-on in car insurance helps you manage travel costs when your car is in the garage for repairs after an accident. The insurer pays you a fixed amount per day to cover your travel expenses. This add-on is useful if you rely on your car daily for commuting and don’t want to incur unexpected expenses.
Passenger cover
Another useful car insurance add-on, it offers financial assistance to passengers travelling in your car in case of an accident or injury. This cover pays for medical costs or offers compensation in case of injury or death of passengers in your vehicle as per the policy’s terms and conditions.
Garage cash cover
Garage cash cover is a handy car insurance add-on that gives you a daily cash allowance when your car is in the garage for repairs after an accident. You can also get a fixed lump sum amount in case of total loss of your insured vehicle.
Consumables cover
This add-on covers the small but important parts of your car. These include nuts, bolts, screws, engine oil, grease, brake fluid and other items that you often need to replace after an accident. Without this add-on, you would have to pay for them from your own pocket.
Tyre protect cover
A tyre protect add-on in car insurance helps you cover the cost of repairing or replacing damaged tyres. Normal insurance doesn’t cover tyre damage. However, this add-on provides an extra layer of safety. It is particularly useful if you drive long distances on rough roads or on those with a high number of potholes.
Key protect cover
A key protect add-on in car insurance helps you when your car keys are lost, stolen or damaged. It covers the cost of repairing or replacing your car keys and even the lock if needed. This saves you from paying a big amount from your pocket in such cases.
Loss of personal belongings cover
This car insurance add-on offers you financial protection if your personal items are stolen from your car. To benefit from this add-on, you need to file an FIR with the police. Check the other terms and conditions in the policy wording for making a claim under this add-on.