5 Popular Add-On Benefits To Enhance Your Motor Insurance Policy

by Bhargav Baweja CMO Marketing

The most important thing while deciding on a car insurance policy is to understand and get proper clarity on the features of the policy. Many-a-times, the policy you choose doesn’t provide adequate coverage. So, in order to enhance your plan, you should consider buying some add-ons offered by your insurance provider.

Some important and popular add-ons are-

  1. Depreciation Reimbursement Cover

This is the most common and recommended add-on offered by insurance companies. This add-on feature entitles you to receive the full cost coverage of replacing or fixing any car part. Therefore, in case of any accident, you will not have to pay anything out of your pocket. Also known as Zero Depreciation, this add-on feature is usually valid for eight years from the date of purchase of the vehicle. It mostly offers a maximum of two claims throughout the life of the policy (one year). 


  1. Medical Expense Cover

In case of a misfortune, it is quite likely that the people sitting in the car suffer injuries requiring immediate medical treatment. While the driver of the car is usually covered with a self-cover, other passengers of the car are not. To cover such medical expenses, you can buy a medical expense add-on with your car insurance policy and get reimbursed for all the expenditure incurred.


  1. No Claim Bonus (NCB) Retention Cover

No Claim Bonus can be availed when you do not opt for a single claim throughout the duration of your insurance plan. You can accumulate NCB for years and get handsome discounts ranging from 20-50% on your own-damage premiums. However, you do not get any discount in the next year even if you file for a claim during the tenure.


To avoid this, you can go for NCB retention, which is nothing but an enhanced version of NCB. Under this add-on, if you file for a claim below a fixed amount, you are still eligible for a given percentage of NCB in the next year.


  1. Roadside Assistance Cover

This add-on cover proves to be beneficial in case of emergencies like fuel shortage, or sudden car breakdown. It provides certain round-the-clock services like refuelling, change of flat tyre, battery charging, mechanic service arrangements, etc. In such a situation, the company will be obligated to send immediate help to you wherever you are. Some of these also come with free towing assistance to the nearest garage in case the car is irreparable by the technician. 


  1. Consumables Cover

The consumables of your vehicle are not covered in your motor insurance policy. The consumable parts like nuts and bolts may sound unimportant, but collectively, they form a significant amount, while filing a claim.  By opting for this add-on, you can avoid the payments for replacing the consumables.


Choose the Add-ons Wisely

While there are many more add-ons to choose from, these are some of the most popular ones. However, add-ons you opt for should depend on your insurance needs. Hence, understanding your insurance needs and researching and comparing the various options available is essential to choose the best-suited policy.

Sponsor Ads

About Bhargav Baweja Freshman   CMO Marketing

7 connections, 1 recommendations, 36 honor points.
Joined APSense since, May 24th, 2017, From Mumbai, India.

Created on Jan 30th 2020 00:11. Viewed 455 times.


No comment, be the first to comment.
Please sign in before you comment.