Representational Image
Representational Image

Add on cover as the name suggest, offer extra cover in addition to normal insurance cover. Today due to fierce competition in the 4 wheeler insurance market, companies are going creative with add on covers to make their plans stand out from their competition.

This healthy rivalry among the insurance companies are a boon to customers who now have a plethora of beneficial optional covers for additional premium along with your base 4 wheeler insurance plan.Add on cover are pivotal in enhancing your 4 wheeler insurance. 

Read on to find out the amazing benefits you can possess through add-on covers on your 4 wheeler insurance plan:

Zero Depreciation 

Zero depreciation is the one of the popular add on covers. This cover enables you to recover full cost of the replacement parts changed in your car without having to pay from your own pocket. Normally insurance companies deduct a value from claim before making a reimbursement as they factor in depreciation which is decrease in value of car parts over time. Zero depreciation add-on covers you against this depreciation loss on claim and helps you recover the entire amount of the car parts replaced. Mostly, vehicles with 3 to 5 years of age are eligible to get this cover and the cap is of two claims during the policy period.

Return to invoice 

In case your car gets written off due to an accident or gets stolen, you will be eligible to get the original invoice value including registration and road tax. Usually maximum cover in case of total loss is calculated as per the IDV (Insured declared value) mentioned in the policy. The cover is available for normally 4 wheelers that are upto 3 years old.

No Claim Bonus Protection

No Claim Bonus is like a reward discount given to the insured at the time of renewal of car insurance for every no claim year. A minimum of 20% discount is eligible which can go as high as 50%. No claim bonus protection add-on helps you to preserve your NCB even if there is a claim, helping you to preserve discount in your following year’s premium.

Engine Protect 

We all are aware engine is the heart of the car and probably the most expensive part of the car. Engine repair is normally not covered under your normal comprehensive policy. In case if you’re insurance company is not offering coverage for engine protection, it is a good idea to go for an engine protect ad-on. Since engine is the core of any vehicle, always make sure your car engine is protected at all time. Engine cover also offers protection to the engine and electronic circuit especially in case of flooding. Since flooding during the rainy season is quite common, it is ideal to opt for such an insurance add-on especially if your location is prone to it.
24/7 Roadside Assistance 

Car can break down anytime anywhere. There is a good possibility a garage and a service center is not always in the proximity of your reach. It can be headache to get help in such cases especially if you are not familiar with the area. Under this add-on cover, insurers provide certain round-the-clock services like refueling, towing, change of flat tyre, arranging for a mechanic's services and so on in case of car breakdown. So say good bye to car breakdown worries and add this cover for peace of mind during driving.

Key replacement cover

Improvements in vehicle security and the development of smart key technology with programmed chips controlling locks, alarms, immobilizers and ignitions seems to have only increased the problems and cost when things go wrong. Losing out a car key cannot get replaced easily by local locksmith for a new generation car. It needs to come from the car manufacturer and can leave a big hole in your pocket. Key replacement covers the costs (up to the sum insured) of key replacement. If your car has been broken into then it will also cover locksmith charges, new locks and replacement keys. 

Accident coverage for co-passengers

This add-on is like an accident coverage, it provides coverage for co-passengers of the vehicle. It provides lump sum compensation to the fellow passengers in case of death, permanent or partial disabilities suffered during an accident. So show the care for your co passengers and make them feel safe and secure in your car with this add-on cover.
Car Accessories Cover 

There are lot of accessories in the market which we put in the car to make our car look unique and to enhance our driving experience. The accessories can be expensive if need to be replaced, damaged or stolen. You can get your accessories insured with this add-on cover and need not worry continuously when you park in unfamiliar locations.

As we can see there are plenty of add-on covers available today. Choose the add-ons based on your individual requirement and circumstances. The add-ons can enhance your base car insurance plan and make good value out of your premium payment.