Here Are Must Buy Add on Covers For Luxury Vehicle Like Audi

Posted on: Oct 1, 2024 | 3 mins | Written by: HDFC ERGO Team

Here Are Must Buy Add on Covers For Luxury Vehicle Like Audi

Luxury cars like Audi are among the top choices for the best comfort. With comfort comes its maintenance and the need to invest in the best comprehensive car insurance. Buying and maintaining a luxury car is difficult, so one must be very particular about the insurance plans, especially adding the add-ons.

Luxury cars are also stylish and a sign of social standing. These cars are too expensive, and even minor damage can make a big hole in your pocket. Therefore, it is imperative that you get add-ons that can give you peace of mind. This article will discuss luxury cars, such as Audi insurance add-ons.

Why Do You Need Insurance for Luxury Cars?

Generally speaking, luxury cars require more maintenance than regular cars. Even though the damage amount may not look like a huge deal for people who owe these cars, it is still a pinch in the pocket. Therefore, getting your luxury car covered with third party car insurance is a good idea.

And buying insurance plans is more than simple these days. However, checking what is offered and the add-ons available is necessary. Here are a few reasons for your reference:

• Damage or loss occurred as a result of third parties being covered.

• Offers comprehensive coverage to your Audi.

• Allows for cashless purchases via network garages.

• Obtain complete claim support.

Different Add-Ons Available for Luxury Cars

Add-ons are the components that are not covered in the standard insurance plan that you take for your car. These add-ons are optional. However, you must take the most required ones to enhance your car’s security and give you financial peace of mind. Every add-on has features and inclusions, so choose the ones that will benefit your Audi the most.

Let's examine the add-ons that are offered for premium car insurance:

1. RTI Cover

When you get an auto insurance policy, you can have your automobile replaced with a new model of the same make and model or have the manufacturer's listed selling price of your vehicle returned to you. This option is known as Return to Invoice, or RTI add-on protection. If there is a total loss, compensation will be offered based on the car’s IDV, not the showroom price.

It can be the invoice value at the time of insurance purchase or the invoice of a new vehicle during total loss. Instead of the depreciated value, your insurance will pay the invoice price if your automobile is stolen or destroyed in an accident, allowing you to buy a new vehicle.

In simple words, if your luxury car is stolen or suffers complete damage, it will still get the showroom price, even if you have used it for many years.

2. Engine Protection Cover

This add-on offers insurance coverage for any damage or loss incurred to your car’s engine during an accident. If you take this as an add-on to your comprehensive car insurance, you will get your engine repaired or replaced with a new one.

The engine not working can be caused by any issue, such as lubricant oil leakage, hydrostatic lock, or component damage, like pistons, gearbox, connecting rods, etc. You will be responsible for paying for any necessary engine repairs without this add-on.

3. Zero Depreciation Cover

Zero depreciation, bumper-to-bumper, or Nil depreciation cover, you may find this add-on with different names used in the case of Audi insurance. This add-on will help you get complete coverage of your Audi, irrespective of the depreciation of its parts.

As per this add-on, the insurance company will not deduct the depreciation value from the cover if your car sustains any loss or damage because of a mishap or accident. However, the tyres and batteries are not included. The benefit is that your third party car insurance will pay the replacement expenses for your Audi’s body parts.

4. No Claim Bonus Protection Cover

If you claim within the policy period, the no-claim bonus protection add-on insurance will ensure you don't miss out on any bonuses you earn. You can file two claims under this add-on coverage throughout the insurance year without losing the accrued NCB.

5. Tyre Protect Cover

Tyres are the most essential part of your car; consider them with your shoes. They handle the car’s weight and manage every road and surface. Considering India's road conditions, it would help if you took this add-on. Most car insurance offers this add-on with extended validity and provides a lot of inclusions.

Some things included are costs associated with replacing a damaged tyre with a new tyre and labour costs for replacing, reinstalling, and levelling the tyre. It also covers any accidental damage or loss to the tubes and tyres, which could make them unfit for use. There might be a cut or other damage, a tyre bulge, or a tyre explosion, causing damage to your tyres.

6. Roadside Assistance Cover

Car breakdowns are never announced and may happen to any car and anywhere. This add-on is a special assistance you may need in such situations. It will provide mechanical and technical assistance, irrespective of the location.

7. Outstation Emergency Cover

If you are travelling and suffer an accident, the outstation emergency cover assists you in filing a claim. All you need to do is call your insurance company and let them know the details of your location, situation, and the emergency. They will help you find a quick resolution per the terms and conditions of your policy.

Hence, you won’t be required to pay anything to get your car repaired even when you are not in your city. Or, if there is no network place to get your vehicle repaired in that location, the insurance provider will reimburse you for the damages you incurred.

8. Consumable Cover

As the tiniest component of your automobile, consumables are frequently disregarded by traditional insurance policies. These are the nuts, bolts, oil, etc, which must be constantly repaired or topped up as much needed. There is no coverage of any damage or harm to these consumables in any standard policy.

Therefore, during settlement time, policyholders bear this cost. For luxury cars, like Audi, these consumables are more expensive than the non-luxury costs, which can result in higher amounts to be paid in case of any claim settlements. If you take this add-on cover, the insurance provider will also take care of this amount.

Conclusion

Luxury cars are designed to offer comfort, style, and technology to its users. They are built using modern and advanced technologies, making them expensive. Therefore, you must care for them as best as possible to make them last long.

One such way is by taking a comprehensive cover and adding different add-ons, which may add to the security of your car. This will also give you financial peace of mind from unexpected expenses or unforeseen situations.

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

Safeguarding Your Luxury Car with RTI Coverage

All You Need to Know About Luxury Car Insurance

Best Panoramic Sunroof Cars in India

Ranking the 10 Fastest Cars in India

A Guide to Heads Up Display (HUD) In Cars: All You Need to Know