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Car insurance cover essentials
APR 18, 2018

Guide to car insurance covers

Bajaj Allianz Motor Insurance

It is very important to get your vehicle insured. Besides saving you from being on the wrong side of the law, it also reduces your financial burden towards the repair costs in case of an accident.

Many people who have filed claims under their car insurance policies complain that the compensation provided by the insurance provider is not complete and there are a number of scenarios where about 15% to 30% of the actual expenses have to be borne by them.

Choose car insurance covers and add-ons wisely to ensure maximum coverage.

You can ensure maximum coverage with your Car Insurance Policy by opting for relevant add-ons.

A lot of add-ons are offered by the insurance service providers which ensure that the coverage is comprehensive and the policyholder incurs minimal expenses at the time of a claim.

Let's look at some of these Add-Ons and the factors to be considered before buying them:

  • 24 X 7 Roadside Assistance: This is one of the basic Add-On for your car insurance cover, provided by any insurance provider. Go through your existing insurance policy, and make sure that this cover is available. It would ensure that you are not stranded in case of a vehicle breakdown.
  • Zero Depreciation/ Depreciation Shield: The major reason for heavy deductions from your claimed amount is due to the lack of this add-on. Insurance companies do not disburse 100% of the expenses for repairing damages caused to tires, glass, plastic components etc. as these are prone to regular wear and tear. These expenses are depreciated by a specific percentage depending on the age of the damaged vehicle. The zero depreciation add-on ensures that no depreciation is applied while calculating the claimed amount for such items. Note that this cover is applicable for vehicles up to 5 years.
  • Engine Protector: The engine protector cover is available for your vehicle which ensures that the engine is covered in case of damages from water ingression, leakage of oil etc. It is a must have in case your vehicle is used in low lying areas prone to floods. Note that such damages are not covered under the manufacturer's warranty.
  • Key & Lock Replacement Cover: This car insurance cover cover pays a fixed amount or actuals incurred as the cost to replace a lost vehicle key. It should be bought if you have a habit of misplacing your keys!
  • Accident Shield: It is an important cover, which lets you insure unnamed passengers in your car for Personal Accident cover. The SI's available would be up to 5 Lac per person which would be of tremendous financial help in case of an unfortunate incident. This cover is a must have if you often go out for drives with your family or friends. This cover pays for the bodily injury or death of the insured passengers.
  • Consumables expense cover: Expenses incurred due to replacement of consumables (brake fluid, oil, coolant etc.) as a result of an accident are not covered under a regular car insurance policy. This add-on ensures that such expenses are covered.

Use the car insurance calculator to know more about your premium.

There are many other Add-Ons available, but the ones mentioned above are the most critical. Remember that you can always opt for the relevant Add-Ons at the time of your car insurance renewal.

Tags : Bajaj Allianz Two Wheeler Insurance Components of helmet Dangers of riding without helmet

Disclaimer

I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

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