4 add-ons you should consider while buying car insurance

We all look forward to getting value for our money when buying something a car insurance policy is no exception in that regard. For some, it may be a higher IDV, and for others, better coverage. Now when it is about the latter, including add-ons in the policy is the first thing that comes into consideration.

That’s because add-ons can make a car insurance policy very well-rounded in terms of coverage. While the cost for these add-ons gets added in the premium amount, it more than justifies the extra amount when it comes to the coverage on offer.

4 add-ons that make a lot of sense

There’s no denying the fact that every car-owner would have specific needs when it comes to buying car insurance, and that trickles down to the add-on covers as well. However, there are certain concerns that every car is prone to face. For this very reason, there are certain add-on covers that become critically important to have within your car insurance policy. These include:

1. Roadside Assistance

Breakdowns are part and parcel of car ownership. The reasons for being stranded on the roadside can range from mechanical breakdowns which call for the car to be towed to the nearest garage for repair, punctures which may require intervention (if you are not well-versed with the procedure or not in a position to do so), running out of fuel which may require emergency refueling to get to the next fuel station, and a lot more. All of these fortify the need of having a roadside assistance cover. And if you are someone who travels a lot, then this add-on cover is an absolute must.

2. Depreciation Waiver Cover

If your car meets with an accident, then a Depreciation Waiver Cover will ensure that you get reimbursement of the complete cost of the parts replaced without any depreciation. This is a cover that is pretty beneficial and should be opted for by every car owner. 

3. Loss of Personal Belongings

Loss of personal belongings is another such cover that an insured should look into while buying a car insurance policy. There is obviously an element of extra premium involved while buying this add-on feature but come to think of it, in case of a theft of an electronic item like a laptop, one can avail a cover-up to a cap of almost ₹ 50,000. In instances like these, this cover proves to be worth the inclusion.

4. No Claims Bonus Protection

No Claims Bonus is one of the most prudent ways to getting a lower insurance premium in the next year. If you don’t make any claims on your car insurance policy during a policy term, you receive No Claims Bonus which is adjusted in the policy premium. However, if you were to make a claim, the No Claims Bonus will not be applicable. But, with the add-on of No Claims Bonus Protection, you can safeguard that as well. 

With information for insurance products and services available online in a highly transparent manner, it is easy for one to compare the policy benefits and the add-ons. At the end of the day, always ensure that you are not missing out on vital elements of a policy. These elements may or may not be useful immediately but would always play a key role in providing you the much-required assistance when the need arises.