2. Invoice Cover
Having an invoice cover is essential if you want to get its ‘on road price’ covered by your insurer. Your car damages caused due to an accident while you are still paying the car loan will also get compensated if you have this cover. What could be more devastating than discovering one fine day that your car has been stolen or faced a total damage? Your policy will always pay you the IDV (Insured Declared Value) of your vehicle. The IDV is equal to the current market price of the vehicle. But, with a return to invoice add-on, you get the difference between invoice value and IDV as well! You have to ensure that an FIR has been filed and the car was not recovered within 90 days after the incident.
How does it Work? If you have purchased a vehicle in 2017 and the purchase invoice was Rs 9.5 lakhs. After two years, the Insured Declared Value (IDV) would be Rs 7.5 lakhs and is damaged beyond reapir or is stolen then, you will get the original purchase invoice Rs 9.5 lakhs. In addition to this, you will get registration charges & applicable taxes as well. Excess/dectucible as per the policy schedule will have to be borne by you
3. Engine Protect Cover
This is recommended for all brand new vehicles. If your engine breaks down z, this add-on cover will come to your rescue. Be it the downpour of rains or the rushing flood waves, your vehicle's gearbox and the engine remains wrapped in the protective coverage of engine and gearbox protection cover! It pays for the replacement or repair of all the child parts or internal parts. Moreover, it further covers the labor costs, cost of compression tests, machine charges and engine cylinder re-boring.
How does it Work? Imagine on a rainy day due to accident, if there is damage to the engine/gear box and chances are that engine oil will start leaking. In such a situation, if you continue to drive the vehicle, engine will get seized. Such damage is a result of a consequential loss which is not covered under the standard motor insurance policy. With this Add-on cover your car’s internal parts of engine and gearbox remains protected
4. Cost of Consumable Items
Here is a consumable items coverage that covers all the consumables used in your car! Yes! You need this right now! It pays for all the non reusabl consumables such as nuts, bolts
How does it Work? If your car faces an accident and needs repairs, under such a scenario the non-reusable consumables may have to be bought again to fix your car. Parts such as washers, screws, lubricants, other oils, bearings, water, gaskets, sealants, filters, and much more are not covered under the motor insurance cover & the cost is to be borne by the insured. With this add on cover we pay for the cost of such consumables and let you take it easy.
5. NCB Protect Cover
You are rewarded with No Claim Bonus (that reduces your premium) for an accident-free year. An NCB Protect cover saves you from losing your NCB even after you make one claim in the year.
6. Passenger Cover
Travelling on a long journey with your family is enthralling. Don’t let your dear family members be left without any financial cover. Adding a passenger cover may slightly increase your premium, but at the end of the day, your family is priceless, right?
7. Tyre Protect Cover
Generally, tyre damage isn't covered in standard insurance unless the damage takes place during an accident. That's why this tyre protect add-on gives you the benefit to safeguard and cover for tyre damages such as tyre bursts, bulges or cuts during all other situations possible.
