Most people don’t want to spend too much time when purchasing car insurance. There are two options on the market, i.e. Comprehensive insurance and third-party liability. They believe there are only two options on the market, namely Comprehensive insurance and third-party liability. There are many options for adding on coverage to your car’s insurance policy. You only need to spend a small amount when you buy or renew your policy.
It is important to fully understand the role of add-ons in order to find the right car insurance coverage.
Zero depreciation: It is not something that anyone likes. However, no insurance policy provides full coverage for your car in the event of damage or loss. You can avoid this by choosing No Dep. or Zero Dep. Add-on that gives you a full claim for the value of any repaired or replaced parts following an accident. This add-on is only available for new cars. Companies generally won’t offer it to older cars.
No-Claim Bonus Retention: This add-on, also known as NCB retention works as protection for your NCB. The NCB is a reward if you have not made any insurance claims in the previous year. People don’t usually make any claims and renew their insurance each year. If the claim is made once, the insurance company will give a discount up to 50% on your premium. Even if you do not make any claims, there is an NCB retention provision.
Road Assistance: Imagine you’re driving home at night and your car becomes stuck somewhere. This add-on, as the name suggests, will help you reach home in an emergency and take care of your vehicle. This add-on can be used in conjunction with your standard car insurance policy to provide assistance for driving at night or in remote locations.
Personal Accident Cover: This add-on coverage provides protection for the owner and the driver, if necessary. Personal accident coverage can be combined with comprehensive car insurance policies. This add-on provides a lump sum amount for permanent disability and accidental death due to an accident.
Daily Cash Allowance: If your car is damaged in a major accident, you will need to keep it in the garage for several days, weeks, or even months, depending on the condition. You will need to either commute by public transport or hire an auto cab, which can be costly especially if your budget is tight. This add-on will pay for the daily commute costs.
