Monsoons bring relief from the scorching heat, but they also bring along with them their fair share of challenges, especially for car owners. Heavy rains, waterlogging, and unpredictable weather conditions can wreak havoc on your vehicle, leading to costly repairs. To ensure you are well-prepared and financially protected, it is essential to consider specific add-ons for your car insurance policy during the monsoon season.
Here are five essential add-ons that can help you safeguard your vehicle
Engine Protection: The Heart Of Your Vehicle
The engine is the heart of your car, and it is highly susceptible to damage during the monsoon.
Engine failure due to excessive waterlogging is a common problem faced by many car owners. The repair costs can be exorbitant, and in severe cases, even, irreparable.
According to Nitin Kumar, head of motor insurance at Policybazaar.com, one can go for an engine protection add-on to safeguard oneself from such financial contingencies.
This add-on would cover the repair and replacement costs in case of engine damage, while providing them with much-needed peace of mind.
Zero Depreciation: Complete Coverage For Your Vehicle
When it comes to claiming insurance for car damages, depreciation plays a significant role in determining the claim amount. You could consider a zero depreciation add-on to enhance your coverage during the monsoon. With a zero depreciation add-on, you can receive the full claim amount without factoring in depreciation. This add-on covers all vehicle components at 100 per cent except for tubes, batteries, and tires, which are covered at 50 per cent. It ensures that you are adequately compensated for the total loss or damage caused to your vehicle.
24x7 Roadside Assistance: Your Lifeline In Emergencies
Being stranded on the road during heavy rains can be a nightmare. To tackle such situations effectively, you could opt for a 24x7 roadside assistance add-on.
This add-on will provide invaluable support during emergencies, such as towing, on-the-spot repairs, fuel requirements, and arranging for alternative transportation. It will ensure that
you receive timely assistance when you need it the most, thus offering you peace of mind and convenience during the monsoon season.
Return To Invoice: Safeguarding Your Investment
In cases where your car suffers severe damage or is beyond repair, the cost of repairs can often exceed the vehicle’s insured declared value (IDV). This is where the “return to invoice” add-on can prove to be a saviour.
For new cars up to three years old, having a return to invoice add-on ensures that you will receive the full invoice value as the claim amount in the event of a total loss. This add-on will also help you safeguard your investment and ensure you can replace your car with a new one in case of a significant loss.
Daily Allowance And Consumables: Comprehensive Protection
During the monsoon, your car may require repairs that could leave it inoperable for a few days. To cover the cost of hiring an alternative vehicle during this period, you could consider the daily allowance add-on. This add-on compensates you for the cost of hiring an alternative vehicle up to a fixed daily limit. The daily limit varies among insurers, so it’s important to review the terms and conditions.
In addition to these, you could also consider a consumables add-on, which covers expenses for essential items, such as engine oil, nuts and bolts, mud flaps, and brakes. These expenses are typically not covered under the comprehensive plans, but the consumables add-on ensures you are protected from additional costs during the monsoon season.
CLAIMS PROCESS: NAVIGATING THE INSURANCE MAZE
In the unfortunate event of car damage or an accident, filing a claim with your insurance company is crucial. In such circumstances, it is important to inform the insurer about the vehicle’s condition and promptly file a claim. Submitting proof of damage or accident in the form of photographs and videos can significantly smoothen the claims process. It is vital to document the incident to ensure a hassle-free settlement.
HOW ADD-ON POLICIES HELP
Preparing your car for the monsoon season involves more than just routine maintenance. By considering these essential add-ons, you can enhance your car’s insurance coverage and protect yourself from the financial implications of monsoon-related damages. As Kumar rightly states, “Being insurance-ready is not only about securing your vehicle; it is about gaining peace of mind, knowing that you are financially protected during challenging times.”
So, gear up for the monsoon season and ensure your car is well-insured to tackle any unforeseen circumstances that may arise.
