Not Found
Suggestion
- Experiment with various terms
- Experiment with various terms
- Experiment with various terms
Search Not Found
Try Searching
Not Sure
Assist Heading
13165151351351
Not Found
Suggestion
Search Not Found
Try Searching
Not Sure
Assist Heading
13165151351351
We're here to help you find the perfect insurance plan. our team will get in touch.
We respect your privacy. Your details are safe with us.
Our team will contact you shortly to provide personalized assistance with your insurance plan.
You can also reach out to us on 1800 266 1112
What comes first in your mind when you have just bought a car? Most probably, getting its insurance done for financial and legal protection. While comprehensive car insurance has its own damage and third-party cover, it may not cover multiple aspects, like car depreciation.
Now, the question is how to cover your car more comprehensively to ensure better financial safety. Here is the role of add-on covers in car insurance. We offer a detailed guide on insurance add-ons and popular options for your vehicle.
An add-on car insurance coverage provides additional protection alongside your basic policy. An add-on element focuses on specific parts or terms not covered under standard insurance. For instance, an engine protection add-on covers the damage to the car's engine due to water intrusion, oil leakage, etc, which is mostly not covered under basic policies.
If you anticipate certain risks, an add-on can offer targeted coverage.
Moreover, You must know you can't buy an add-on with third-party car insurance. So, you must have comprehensive car insurance or a standalone own damage cover to get an add-on.
Add-ons in car insurance are generally bought while buying the car insurance. Moreover, you can also buy them when your car insurance renewal ends. Apart from these two instances, buying add-ons after a policy has been issued is not possible in India.
Four Popular Add-ons in Car Insurance
While many add-on covers are available in India, here are some of the most popular ones.
- Zero Depreciation Cover
A car starts losing its value as soon as it gets sold, known as depreciation. Depreciation is an important factor in deciding insurance coverage. The more depreciated the car, the less the Insured Declared Value (IDV) will have. But with Zero Depreciation cover, you can make sure that the depreciation is not being considered for the IDV.
- Engine Protection Cover
An engine protector in car insurance is an add-on that specifically protects the car's engine. Notably, most car insurance doesn't cover engine-related problems due to water intrusion or oil leakage.
So, if you think there's a high risk of such incidents, you should include this car insurance add-on. This add-on can be quite beneficial for people who live in flood-prone areas or drive their cars on rough terrain.
- No Claim Bonus Protection Add-on
Now, let's understand one of motor insurance's most sold add-on covers: the no-claim bonus protection. As its name suggests, it protects your no-claim bonus, but from what? When you buy comprehensive car insurance and don't make a claim, you get a 10% discount on the own damage component at the time of car insurance renewal.
But what if you have to make a small claim? If you make a claim, the discount will be cancelled. The good news is that the discount accumulates up to 50% if no claims are made for five consecutive years.
To prevent losing your NCB after a minor claim, you can purchase a no-claim bonus protection add-on, preserving your bonus even after filing a small claim.
- Return to Invoice Cover
Do you want to live without fearing your car being totalled or stolen? As a car owner, it seems impossible even without comprehensive coverage. The reason is that the insured sum allotted to the car by the insurer is the maximum amount you can get, even if your car gets totally damaged or stolen. Moreover, considering the car's depreciation, this insured sum decreases as time passes.
But with a return to invoice cover, you can be stress-free as this add-on cover in car insurance stands for exactly what its name says. Here, in the event of a total loss or theft, you will receive compensation equal to the car's invoice value.
To sum up, add-ons in car insurance are like extra layers of protection for your vehicle. They are worth considering if you want to maximise your coverage by adding components not covered in your primary car insurance plan. However, you should also assess your car and some factors before buying these add-ons as, in some cases, the added value might not justify the cost.
Also, ensure you purchase your insurance and any add-ons from a trustworthy company like Future Generali.
How to Claim Under Third Party Car Insurance
Having car insurance is significant for you and your family's safety. The right car insurance protects you financially when your car gets damaged in any unforeseen event....
Read MoreHow to Download Car Insurance Policy Online
The car insurance policy document is a legally binding agreement between the policyholder and the insurance company. This document contains the essential details of the policy, like...
Read MoreEx-showroom Price Vs On-road Price: A Detailed Guide
Buying a car/vehicle is a milestone for many, but the process becomes confusing when understanding the prices. You must have wondered why the price you see at...
Read MoreTips for Avoiding Common Traffic Fines and Penalties
If you are driving, you are automatically obligated to follow the traffic rules, and not doing so can lead to a traffic rules violation fine. But with...
Read MoreWhat are Add-on covers in car insurance? Four Popular Car Insurance Add-ons
What comes first in your mind when you have just bought a car? Most probably, getting its insurance done for financial and legal protection. While comprehensive car...
Read MoreStep-by-Step Guide to Claiming Car Insurance After an Accident
Car accidents happen every day. India witnessed a rise in road accidents in 2022, with over 460,000 mishaps resulting in the loss of 168,491 lives—an all-time high....
Read MoreWhat is IDV in Car Insurance: Meaning and Calculation Explained
When you secure car insurance, you often come across the term ‘Insured Declared Value’ (IDV). It’s an essential factor that directly influences your insurance premium and the...
Read MoreStep-by-Step Guide on How to Calculate Car Insurance Premiums Online
Owning a car is a necessity for many. Suresh, who just got his job and moved to a new city, recently purchased a sedan. As a responsible...
Read MoreElectric Vehicle Insurance: Costs, Coverage and Benefits
Electric vehicles (EVs) are rapidly gaining traction in India, with a significant rise in their sales over recent years. As more consumers opt for electric cars, understanding...
Read MoreDoes Car Insurance Cover Airbag Replacement After an Accident?
India has implemented stringent safety regulations for passenger vehicles. As of October 1, 2023, all passenger vehicles must have six airbags and rear seat belt alarms, a...
Read MoreMonsoon Car Care Tips: Top 10 Car Maintenance Tips for the Monsoon Season
The Indian monsoon, while a welcome respite from the scorching summer heat, brings its own set of challenges, especially for car owners. Waterlogged roads, reduced visibility, and...
Read MoreHow Zero Depreciation Car Insurance Works
Car insurance is an essential purchase for any vehicle owner. To help his wife Priya understand the nuances of car ownership, Rohit entrusts her with the task...
Read MoreAll You Need To Know About Zero Depreciation Car Insurance
If we talk about car insurance, there are numerous options available to policyholders. One of the most beneficial and increasingly popular types of motor insurance is zero...
Read MoreUnderstanding Engine Failure Coverage in Your Car Insurance
A car engine is the most critical component of a car as it converts the fuel into energy to power the vehicle. While car insurance is mandatory...
Read MoreVehicle Scrappage Policy in India: All You Need to Know
In 2021, India introduced a car scrap policy for old and unfit vehicles. Finance Minister Nirmala Sitharaman announced the policy in the Union Budget 2021. Subsequently, on...
Read MoreBenefits of Car Insurance: Everything You Need to Know
Car insurance is mandatory when driving a car on the road. If you don't buy car insurance, you can get a fine and even imprisonment for this...
Read MoreHow To Check Owner Name By Vehicle Number
Do you wonder It doesn't matter whether you are buying car insurance, purchasing a used vehicle, or simply need to find out some information about the ownership;...
Read MoreWhat is Break-in Period in Car Insurance?
Car insurance policies are applicable only for a limited period. You have to renew them from time to time to continue enjoying the benefits. But if you...
Read MoreHow to be a greener driver - and save money
India has some of the most polluted cities in the world and one major contributor to its air pollution problem is toxic vehicle exhaust fumes. The staggering...
Read More