Benefits of Add-on Covers in Car Insurance?

A car insurance policy offers extensive financial coverage for a vehicle owner. Individuals can avail it to protect themselves from any expenses that can arise from damage or loss to their cars. Based on the insurance policy they choose, they can cover various expenses such as the damage caused by their car to a third-party individual, personal injuries or any loss sustained in any parts of their vehicle.

Furthermore, car insurance add-on covers are additional benefits that you can avail on top of your base insurance policy. These covers help you avail coverage from any unforeseen financial liabilities. Here are a few add-on covers that you must be aware of –

Zero depreciation cover

The valuation of your car is likely to decrease with passing time. If you file an insurance claim in the future, your insurance provider will take into account the depreciation of your vehicle before deciding the amount you will receive. Consequently, you will not receive the entire amount that you were likely to avail.

On the contrary, if you avail a zero depreciation cover along with your base insurance policy, you can avail the entire sum assured.

Key replacement cover

If you avail a key replacement cover along with your base insurance policy, you can protect yourself from any financial obligation that can arise with the theft or damage to your car key. The cost of key replacement is reimbursed by the financial institution if you avail such insurance policy.

Accident coverage for co-passengers

If you avail such add-on cover, you can provide coverage to the passengers in case your car meets with an accident. This cover provides a lump sum amount in case the passengers face an injury, permanent disability or even accidental demise.

These are the add-on covers on your car insurance that you must be aware of. You can avail these covers by paying a minimal amount above your base premium.

Additional Read: Car Insurance Add-on Covers You Should Be Aware Of

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