With the increasing frequency of cyclones in India, it is essential for motorists to prioritise vehicle protection. Here are some valuable tips on insuring your motor vehicle against cyclone damage, including add-on covers and steps to ensure a seamless claims process
Natural disasters usually strike without warning, causing extensive damage to properties and belongings. In light of recent cyclones and earthquakes in places like Gujarat and Jammu and Kashmir respectively, it is crucial to protect your finances against such unforeseen events.
One of the most effective ways to ensure financial security during such times of crisis is through a comprehensive motor insurance.
Importance Of Comprehensive Motor Insurance
According to Nitin Kumar, head – motor insurance, Policybazaar.com, a comprehensive motor insurance policy is essential to safeguard one’s vehicle from the damage and losses caused by natural calamities such as cyclones, earthquakes, and thunderstorms.
“In addition to the basic coverage, opting for specific add-on covers can provide extra protection,” he says.
Engine Protection Add-On
During cyclones, the vehicle’s engine can suffer damage due to water ingress or hydrostatic lock. Repairing or replacing the engine can be expensive. By purchasing the engine protection add-on, one can ensure the safety of the engine during cyclones and receive coverage for repair or replacement costs.
Zero Depreciation Add-On
If you reside in an earthquake-prone area, it is advisable to have a zero depreciation add-on as well.
Says Kumar: “Earthquakes can cause significant damage to vehicles, and repairing them can be a costly affair. With a zero depreciation add-on, you can minimise your out-of-pocket expenses, as it provides coverage for the full value of parts without accounting for depreciation.”
STEPS TO TAKE IF YOUR MOTOR VEHICLE IS AFFECTED BY CYCLONE
In the unfortunate event that your vehicle is affected by cyclone, it is important to follow these steps for a smooth insurance claims process
Gather Evidence: Take photographs and videos of the damaged car as evidence of the cyclone’s impact. These visuals should clearly depict the extent of the damage caused.
Notify Your Insurer: Inform your insurance company immediately about the cyclone’s impact on your vehicle. Prompt communication is essential to initiate the claims process efficiently.
Vehicle Inspection: The insurer will assign a surveyor to assess the damage. The surveyor will inspect the vehicle and evaluate the losses incurred.
Claims Settlement: After the surveyor assesses the losses, the claim settlement process will be expedited. Upon approval of the claim, the insurer will arrange for the vehicle to be taken to a garage for repair.
Claims Reimbursement: If your policy is cashless, the insurer will directly pay the garage for the repairs. If the policy is not cashless, you can submit the bill to the insurer for reimbursement, subject to the policy terms and conditions.
COVERAGE FOR DAMAGE CAUSED BY FLOODING OR STORM SURGE DURING CYCLONE
Comprehensive car insurance or a standalone own-damage policy provides coverage against cyclones, floods, storms, and related damages. During the monsoon season, water ingression in the engine or accidents due to waterlogging are common. To protect your vehicle in flood or cyclone-prone areas, consider adding the Engine Protector add-on cover. This add-on will provide coverage for financial losses incurred due to engine damage during waterlogging.
By understanding the importance of add-on covers, such as engine protection and zero depreciation, and following the necessary steps in the event of a cyclone-related vehicle damage, you can mitigate financial losses and ensure a smooth insurance claim process. Remember, being prepared today can save you from significant financial burdens in the face of natural disasters tomorrow.