Nowadays, we no longer live in calm and quiet village areas where vehicles are very less common. The hustle and bustle of city lives have taken over our lives. The sprawling cities that beckon our lives have very less public transportation facilities. Hence, the best way would be to rely on private transport. Getting a vehicle can be a solution to the daily struggles to reach home, office, schools or colleges on time. If you are planning to get a vehicle, the first thing you would need would be vehicle insurance. Nowadays, there are multiple types of policies available, and you get to choose the one which suits your needs within your budget restrictions.
The wide range of coverages offered by various policies ensures that you get the best coverage whatever be the adverse situation you face. But, did you know the fact that you have the scope to get even more coverages than usual? Yes! They are the add-on covers! The add-on covers help you to get extra coverages and also reduce your insurance costs. The add-on covers come with attractive features that make it a must-buy as it makes your insurance coverage even more attractive and less costly!
Let us take a look at some of the add-on covers you should know about!
The Zero-Depreciation Add-On!
This is one of the most commonly used add-ons by almost everyone who gets auto insurance. Unlike some other add-ons which are only chosen by owners of high-end vehicles, the zero-depreciation add-on is chosen by car owners across all segments. The zero-depreciation add-on will help in ensuring that you will receive the full claim amount whenever you make a claim. In normal cases, you get a zero depreciation only for the first three years after buying the vehicle. After that, your vehicle’s value starts to go down and then you will be paid fewer claim amounts. The older your vehicle, greater will be your premiums. But, with a zero-depreciation add-on, you will get the full claim amount without any reductions on the basis of depreciation.
The Quick Assistance On Road Add-On!
Here is an add-on that can be a lifesaver especially in cases of unexpected accidents or car breakdowns right in the middle of a desolate place. Even if you have no one to help or do not have any service assistant personal nearby, still you will be given all the assistance you need when stranded in a desolate area by this add-on. If you opt for this add-on, you will get taxi services, accommodation, and assistance to fill your fuel tanks whenever your vehicle gets stranded in a remote area.
NCB(No Claim Bonus) Protection Add-On!
The name itself clearly indicates the purpose of this add-on. This add-on is a reward you will get if you do not make any insurance claims in a year. There are many people who do not make any claims throughout the year and then renew their policy next year. Such people will get the no-claim bonus as their reward which can go up to a discount of 50% in the premiums. In case you have not taken the add-on, even a single claim made by you can reduce the discounts to zero.
The Personal Accident Cover Add-On
This add-on helps you to protect the paid driver as well as the owner of the car in case of an accident. In situations where an accident causes the death of a driver or owner, or in cases where there are permanent damages to the limbs; the full claim amount will be given. The only downside is that this add-on won’t be considered if the vehicle is owned by a company or if the owner of the vehicle does not hold a valid license to drive the car.
Loss Of Personal Belongings Add-On
This is an add-on that can help you to recover the value of the personal belongings lost from a vehicle which is locked up in the parking area. Loss of belongings like a laptop, jewels, and costly equipment will be covered.
Key Replacement Add-On
There can be occasions where you lose your vehicle keys. In such instances, the insurance company will pay for your key replacement costs. This can be of great help when you lose your keys and is at loss of how to manage the situation or open the door somehow.
Engine And Electronic Circuit Cover Add-On
This add-on cover provides a blanket of protective coverage to your electronic circuits and engine especially in the case of floods or related accidents. It helps to cover huge repair costs especially in situations where your vehicle’s electric circuits get seriously damaged.
These are some of the add-on covers you should know about! Getting these add-ons along with your policy can be a lifesaver in critical situations. It also helps you to save money by maintaining your no-claim bonus and reducing your premiums. Hence, it is always better to get add-ons that suits your needs.