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Conveyance benefit is an add-on cover wherein your car insurer would provide a daily cash benefit in case your claim has been accepted and your car is undergoing repairs after having sustained major accidental damages. The sum would vary, depending on the insurer and the car insurance policy that you’ve opted for.
Why is it important to have car insurance?
Buying a car is certainly a momentous occasion, considering there’s a chance that years of hard-earned savings or a hefty loan has gone into its purchase. Keeping aside its legal implications, a comprehensive car insurance policy is crucial as it gives you the necessary financial cover against expenses resulting from damages to your car, a third-party or third-party property.
Essentially, with a comprehensive car insurance policy by your side, it would be possible for you to safeguard your savings while offsetting financial losses and damages caused to your car or a third-party.
Why is conveyance benefit an important add-on?
The cost of repairs is not the only expense associated with a damaged vehicle. There could be a slew of other expenses – arranging daily commute, for instance – that you might have to shell out from your own pocket. It is here that conveyance benefit can come to your aid.
You can opt for certain add-on covers that seek to enhance base coverage of a conventional car insurance policy. One of them is the conveyance benefit add-on cover.
Should you consider this particular add-on, you’d get a cash benefit for as long as your car stays in the repairs store or garage following an accident. You can use this daily supply of cash to fund regular commute and other objectives that your car could’ve served had it not been holed up in a garage.
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