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Improve your Car Insurance with Accessories Cover

Published on August 10, 2020, EST READ TIME: 5 MIN

For most people, the car is a prized possession and they get it customised to reflect their signature style. They get accessories installed that not only increase the swag quotient of the car, but also make for a comfortable drive.

For most people, the car is a prized possession and they get it customised to reflect their signature style. They get accessories installed that not only increase the swag quotient of the car, but also make for a comfortable drive. However, these accessories can be quite expensive, and any damage done to them due to an accident or theft can cause you quite a financial loss. So, if you are someone who enjoys decorating your vehicle with sophisticated equipment, then you must get them insured with an accessories cover add-on to your car insurance policy.

Accessories Cover in Car Insurance  

Like many policyholders, you may have also opted for the basic car insurance policy and chances are that you might believe that your plan also provides coverage for the accessories of your car. Sorry to break it to you, it does not. Even if you have opted for a comprehensive policy, it does not imply that all the accessories are covered within it. You need to get an add-on cover if you wish to get your valuable accessories repaired or replaced in case of an accident without paying a hefty sum for it.

When your car is fitted with luxurious accessories and extra fittings like a stereo system, reverse camera, LCD TV, etc., your car may attract anti-social elements compared to vehicles with none of those assets. Now supposedly, you have a passion for upping the style of your car, but you reside in an area that is either theft-prone or vulnerable to natural disasters, then it would be a smart move to protect those high-end accessories by paying an extra premium to your motor insurance company. It will save you both the money and the trouble of re-investing in new accessories in case of a mishap.

Types of Accessories in Car Insurance

Accessories that are fitted in a vehicle are broadly classified into two parts - electrical and non-electrical.

Electrical: fittings consist of music systems, air conditioners, and different types of lights like fog light, brake light. 

Non-electrical: fittings include seat covers, alloy wheels, and interior fittings among others.

Both the electrical and non-electrical accessories are quite costly and in the absence of the add-on cover, the car owner would have to pay for their repair or replacement from his/her pocket.

It should also be noted that not all accessories make your car look cooler or provide you with mere comfort. Some equipment like an anti-theft device or car camera or tyre pressure monitor increases the safety of your car and you could get a discount on your basic premium for installing them.

Conclusion

You adorn your car with the best accessories to give out a great impression and it is a wise idea to get the costly pieces of equipment insured. This is because in case they get damaged in an accident or are stolen, you would not only lose the accessories, but would also have to pay a handsome price to get a new set. But if you have an accessories cover add-on in your motor insurance that protects them, you wouldn’t have to worry much as your monetary loss will be compensated by the car insurance company.

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

Mr. Mukesh Kumar recommends "getting your two wheeler insured from HDFC ERGO, a brand serving more than 1 crore+ customers. With overnight repair services and more than 6,800+ network garages, you can be assured of help in event of any damage to your vehicle".

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