Lesser known insurance add-on covers we bet you didn’t know about

Along with homes, vehicles are generally people’s most precious practical investments. For most of us, it takes years of saving up and planning to get around to buying a car. Naturally, the need to protect our car and prepare for further expenses incurred in maintaining it become much easier with car insurance. Not only is this a legally mandated prerequisite for driving the vehicle on Indian roads, but a great way to safeguard your savings from getting depleted in case of an unforeseen mishap.

A comprehensive motor insurance policy generally has a good benefit system. It provides liability-only as well as self-damage covers, ensuring your money stays in your pocket if you end up getting stuck in an unfortunate situation. Insurance companies also have several add-on covers that come in handy when it comes to providing comprehensive protection to your vehicle. Now, while most people are aware of these add-on covers, there are several others that fly below the radar but are very effective when it comes to covering all bases. Here, we look at some add-on covers that you can avail from your insurer to keep your car safe during the monsoon and the pandemic.

Tyre Protection

Tyre coverage can be claimed only in the case of an accident that might have ended up in damaging your tyres. However, Indian roads are unpredictable and present drivers with severe undulations and potholes that may lead to tyre damage. This tyre protection cover allows you to avail of coverage even in case of tyre bursts, bulges, or slits.

Daily Allowance Cover

If you live in a remote area without good public transport connectivity, you are most likely to be entirely reliant on your car. In case of theft or damage to the vehicle, renting a vehicle for travelling can be an expensive affair. This cover provides you with a daily allowance to rent a transport for up to 14 days in case of theft, or if the car is being repaired at an authorized garage. The maximum amount is generally up to Rs.500 per day but it may differ based on company norms. Some companies also provide compensation for hotel expenses if the car breaks down in a different city.

Key and Lock Replacement

As the name suggests, this comes in handy if you need a new lock or key for your car. In case you lose your key and do not have a duplicate, this add-on provides coverage between Rs. 2,500 to Rs. 5,000 for the replacement of a limited number of keys or key fobs  within the policy tenure. It is especially helpful for the encrypted lock and key mechanism in high-end cars.

Loss of Baggage Cover

If you ever lose or damage your electronic devices such as laptop or smartphone placed in the car, this add-on cover will allow you to avail a reimbursement for your belongings. It provides a coverage of Rs. 25,000 for mobile phones and Rs.50,000 for laptops. The best feature of this cover is that the no-claim bonus remains unaffected if you choose to file a claim for loss of baggage.

A car insurance policy is vital to keeping your vehicle protected against unforeseen events. Buying add-on covers only adds to your peace of mind. Be sure to check all the details before investing in any insurance policy and pick one that best fits your needs.