Add-On Covers For Your Car Insurance Policy

A few years ago, insurance companies used to offer a standard insurance cover, but with changing times, even the insurance companies seem to have evolved. Today there is no dearth of options to choose from when it comes to additional premiums along with your basic car policy.

Car insurance add-ons, as the name suggests, offer insurance for several damages or occurrences in addition to the benefits that a comprehensive motor insurance policy offers. Clearly, it is a great way to make your vehicle insurance work a lot better for you. Depending on the type of car you own, each available add-on has a potential to save huge amount of your money, which you may otherwise have to pay from your pocket at the time of making a claim.

Here are some HDFC Ergo car insurance add-on covers that you may consider purchasing for your existing insurance policy:

  1. Zero depreciation

One of the most recommended add on, it authorizes you to claim the full cost of replacing parts of car damaged in an accident. As per your standard motor vehicle insurance policy, you only receive the depreciated value of car parts, not the original value. Usually, the insurance companies deduct depreciation from the value before they settle the claim. A zero depreciation add-on helps you recover full claim without any such deductions. However, most of the companies provide this cover only to the vehicles which are up to 5 years old.

  1. Engine Protection

This is considered relevant for owners of high end cars and is usually available for cars that are up to three years old. An engine protection cover compensates for engine related repairs, even if they are not caused by an accident. Since the cost of repair of a damaged engine can go invariably high, this add-on can be very useful and worth spending money on. It should be noted that it does not cover the damages due to regular wear and tear or any damages caused by your own negligence.

  1. Return to invoice

Purchasing a return to invoice cover ensures that in case of loss or theft of your car, you get the original invoice value, including the registration cost and taxes and not the insured declared value. Such add-on plans pay the difference amount between approved claim amount and original cost of purchase of your car. This cover is highly recommended for theft prone areas or people who drive on long highways. This cover is also available for vehicles up to three year old.

  1. NCB Protect

A motor insurance policy obtains a No Claim Bonus (NCB) at the end of year if the policy holder does not make any claim. It begins at 20% and increases every claim free year and may go up to 50%. It basically means a lower premium to be paid the subsequent year. Now, an NCB Protect add on allows you to retain your NCB bonus even if you have made a claim. It allows you to make one claim per year and yet retain your accumulated no claim bonus for subsequent year. Please note that the add-on is not valid in case you make a claim for total loss.

  1. Roadside assistance

With this add-on cover, the insurance company provides certain services round the clock like refuelling, towing, arranging a mechanic or getting a flat tyre changed and much more in case of a car breakdown. Certain companies offer it as an add-on cover and a few others are offering it under the basic motor vehicle insurance plan.

If you are looking to buy car insurance with these beneficial add-ons, you can easily buy these online at the HDFC Ergo website. The website makes online purchasing extremely quick and easy. All you need to do is log on to the website, fill up the form and check on the riders you would like to add and pay. The policy will be emailed to you within minutes which you can download or take a print of as and when you need.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before going ahead with the sales.

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