Add on Covers to Ensure the Optimum Protection of your Vehicle

A car insurance plan pays only for the depreciated value of your car in case it has been stolen or it is totally damaged. Car insurance provides risk coverage for any bodily injury or damage(s) caused to a third-party or property. If you are looking to buy car insurance plan, check out the motor insurance plans offered by HDFC Ergo car insurance.
In case your car insurance date is about to expire, check out HDFC Ergo’s vehicle insurance plan. If you are happy with the offered coverage, you can easily port to HDFC Ergo.

According to law, buying motor insurance is compulsory in India. There are two kinds of car insurance plans. The first one is third-party car insurance and the second one is the comprehensive cover. The law mandates third-party coverage but a majority of car insurance buyers opt for comprehensive coverage since it offers a wide coverage. If you want to enjoy optimum insurance coverage, you can avail add-on coverage by paying additional vehicle insurance premium. These add-on covers are optional and its selection depends on your insurance needs.

Here are the add-on covers that you can opt. Opting for add-on coverage in your vehicle insurance plan might require a few more pennies, but it widens your insurance coverage.

1. Nil Depreciation-
   The insurance providers compute depreciation at the time of claim settlement. Because of depreciation, you get less claim amount. Although, including nil depreciation cover at the time of purchasing your motor will get you higher claim amount.
2. Total Cover-
   In case of total damage or theft, car insurance covers the depreciated car value. Registration cost, road tax, and insurance premium form approximately 15 to 20 percent of the on-road cost. You don’t get any reimbursement for the on-road cost in case your car is totally damaged or stolen. A total loss cover looks after such fiscal requirements.
3. No Claim Bonus Retention Cover-
   It’s an additional cover that ensures you get your NCB. If you don’t file any claim as long as your policy is active, you are eligible to get NCB.  In case you file a claim and the claim amount doesn’t exceed 25 of the Insured Declared Value of your automobile, your No Claim Bonus retains.
4. Loss or Theft of KeysYou get reimbursement for replacing your car keys, locks or locksmith expenses if your car keys are stolen/ lost.
5. Loss of Personal Belongings This add-on cover ensures the personal belongings stored in your car such as mobile phones, laptops etc.  This cover provides you a much-needed safety net to your important personal belongings.
6. Tyre Damage Tyres are highly prone to damage(s) since the load of the car and its passengers fall on it. Tyre damage cover offers reimbursement in case of tyre puncture, bursting, bulge cut or any other accidental damage.
7. Engine Protection Damages and losses to important internal parts of your car such as engine or gearbox due to or leakage of accidental leakage of lubricating oil, water ingressions etc. are taken care of.
8. Allowance for Inconvenience It becomes very inconvenient to commute when your vehicle is being repaired. This cover provides you inconvenience coverage on a per day basis as long as your automobile is at the workshop for damage repairs caused due to an accident.

Car insurance needs are so individualistic that one person’s insurance needs are different from the others. Opting for add-on coverage gives you an overall insurance protection. It fulfills your insurance expectations and provides you the maximum coverage.