Your car is definitely an icon that reflects your personality, style and aura. Almost every car owner likes to pamper their prized possession with different accessories. After all, these accessories enhance the beauty of your car. These car accessories are valuable and therefore needs to be insured. If you stay in an area that is theft-prone or a place that is more vulnerable for natural disasters than it becomes vulnerable to get these accessories for car insured.
Usually people neglect the essential add-on covers offered by the insurance companies along with the basic coverage and they opt for add-ons out of their requirement. But, accessories cover is usually given a miss while shopping for a good car insurance coverage.
Let’s have a look at the significance of getting your important car accessories covered.
What is an Accessories Cover in Car Insurance?
Though car accessories enhance the beauty of the car, most of the people fail to understand that it also improves the maintenance as well as comfort of the passengers in the car. Which is why, the ‘Loss of Accessories’ add-on cover should be added to your standard car insurance policy.
If you have fitted classy and luxurious accessories like high-end stereo system, reverse camera, LCD TV, Car Dash Cam, headlight/ taillight modification, etc. you should get the accessories cover. Remember, your basic car insurance will only apply in case of accidents or any damages, and not for your accessories fitted in your car.
Loss of accessories by theft may be covered at an additional premium @ 4% of the value of the accessories specifically declared in the proposal form.
What are the Types of Accessories in Car Insurance?
Accessories are broadly classified as electrical and non-electrical. But, your comprehensive car insurance policy does not cover all the accessories.
Under the electrical fittings, we cover car accessories like spoilers with brake light, music system, fog lights, and air conditioners (If not a standard fitment). Non-electrical fittings such as non-electrical spoiler, seat covers, alloy wheels, interior fittings, etc. are covered on the value of such accessories under the own-damage tariff.
If you plan of fitting a CNG/LPG kit to your car, you need to ensure the kit separately simply because, your base insurance policy would not cover any damage done to the kit during a mishap.
Considering the unforeseen situations like an accident or a mishap, add on covers in motor insurance like accessories cover becomes beneficial to cover the least expected damages following any type of mishap. You can certainly save some of your money and energy from the trouble of re-investing for the new accessories at a huge cost. Though covering your car accessories may increase your premium to a certain extent, but would certainly fetch you peace of mind.
Ideally, it makes sense to cover the expensive accessories for your car. The accessories cover add-on would help you to provide a shield against any loss or damage to those valuable electrical and non-electrical car accessories. All you need to do is give an exact value of the accessories while buying the car insurance policy and just relax.