Car Insurance in 5 Coverage.

 

 

Car Insurance in 5 Coverage.

 

People do not like to waste time when purchasing a car insurance policy. They believe that the market offers only two options: third-party liability, which is required by the Motor Vehicle Act, and comprehensive insurance. However, there are numerous add-on covers that can significantly increase your car insurance coverage for a small fee when purchasing or renewing your policy.

To select the best add-on covers to supplement your car insurance policy coverage, you must first understand the importance of add-on covers.

Zero Depreciation: Nobody wants to be surprised by the fact that they have to pay out of pocket to repair their damaged car, even if they have car insurance. However, no insurance policy provides complete coverage for your car in the event of a loss or damage in an accident. To avoid such a situation, choose the No Dep. or Zero Dep. add-on, which provides you with a full claim on the value of repaired or replaced parts following an accident. Companies generally do not offer this type of add-on to cars that are older than 5 years.

No-Claim Bonus Retention (NCB): As the name implies, this add-on serves as a safeguard for your NCB. NCB is a reward for not filing any insurance claims in the previous year. People usually do not file claims and instead renew their insurance every year. The insurance company offers a reward in the form of a discount of up to 50% off the premium cost, which the company will withdraw if the claim is made only once. So, even if you make claims, there is a provision for NCB retention.

Roadside Assistance: Imagine you're driving back home and your car breaks down somewhere in the middle of the night due to a lack of fuel, a technical problem, or a dead battery. What do you do now? As the name implies, this add-on will help you get home in an emergency and will look after your car. If you have chosen this add-on in addition to your standard car insurance policy, you will not need assistance while driving in a remote location or at night.

Personal Accident Cover: With this add-on cover, the insurance company protects both the owner and the paid driver in the event of an accident. You can combine personal accident insurance with comprehensive car insurance. This add-on provides you with a lump-sum benefit in the event of permanent disability or accidental death as a result of an accident.

Daily Cash Allowance: In the event of a major accident, the procedure for getting your car repaired is too lengthy, and your car may have to stay in the garage for days, weeks, or even months, depending on the condition of the car. In that case, you must either take public transportation or hire a cab, which is an expensive option, especially if you are on a tight budget. As a result, the insurance company will bear the cost of such daily commutation expenses under this add-on.

Author: RabnawazToor