List of Add-On Covers in Car Insurance – Buy Online

A standard Comprehensive car insurance policy is not a one-size-fits-all coverage and you should modify it based on your requirements. Depending upon your situation, your policy should be designed for maximum coverage. A few things you should consider are how much coverage you need to protect your car and what can add value to the coverage. One among them is add-on covers in car insurance. Here is the list of car insurance add-ons which strengthens your policy with additional coverage and value.

List of Add-On Covers in Car Insurance

What is an Add-on Cover in Car Insurance?

In case of an unfortunate accident, you may have to deal with an unplanned financial crisis. Third-party liability insurance does not provide coverage for own damages, while the Comprehensive car insurance may miss out on a few liabilities. When you need extended coverage, add-on covers in car insurance add value and provide that extra edge over the regular car insurance policy.

Benefits of Add-on Covers:

There are several add-on covers which are useful and offer additional financial coverage. Below are the benefits of add-ons in car insurance:

Protect Your Car’s Depreciation

While settling claims, the insurance company will depreciate the cost of parts and you have to bear the remainder of the repair bill. However, you can avoid the depreciation cost by opting for the Zero Depreciation add-on cover.

Get Emergency Roadside Assistance

In case of an emergency such as a vehicle breakdown, you can avail the Roadside Assistance cover. It offers emergency roadside assistance such as fixing a flat tyre, fuel, towing, on-spot repair, among others, which makes it a good addition to the standard insurance policy.

Protect Your Discount

For driving safely and not raising any claim during the policy period, the insurer rewards you with the No Claim Bonus (NCB). However, you may have a situation wherein you have to raise a claim for a high repair bill and you end up losing the NCB. With the NCB Protection add-on cover, you can shield the discount and continue to enjoy the benefit of the NCB.

Cover For Accessories And Engine

In the standard Comprehensive car insurance plan, the car engine and the accessories are not covered. With the Accessories and the Engine Protecting add-ons, the cost to repair or replace them is covered.

Cover For Deaths and Disabilities Due to Accidents

In the case of disability or death of the owner-driver of the insured vehicle, the Personal Accident add-on offers financial coverage with compensation of 100% in case of death.

List of Add-on Covers in Car Insurance by Acko:

Choosing the right add-on covers for your car insurance can save you a lot of money. While you may have to pay a slightly higher premium, your car insurance becomes considerably exclusive and exhaustive. Below are the add-on covers available with Acko Car Insurance you can choose from:

1) Zero Depreciation Car Insurance

Under this add-on cover, no depreciation is deducted while settling the claim for the repair bill. Through the Zero Dep add-on cover, the insurance company will pay the repair bill without considering the depreciation factor of car parts which are being replaced or repaired.

2) Car Engine Protection Cover

The add-on reimburses the cost incurred towards the replacement or repair arising out of consequential damages of engine parts such as differential assembly and gearbox. This can also be due to water ingression, leakage of coolant/oil or a hydrostatic lock of the engine of the insured car.

3) Roadside Assistance

In case of an emergency such as a vehicle breakdown or an accident, through the car Roadside Assistance add-on cover, the insurance provider will provide services such as fixing a flat tyre, jumpstart the battery, on-spot repair and spare key retrieval. Other services include fuel support, emergency towing, taxi support, assisting you to search a hotel, legal advice, pick-up of the vehicle, and emptying fuel tank. The exhaustive features of the Roadside Assistance add-on will be helpful, especially if you are stuck on a highway with a stalled vehicle.

4) Return To Invoice Cover

Return to invoice cover acts as a shield to the original purchase price of the car. In case of total loss or if it is stolen, the insurance company will pay the Sum Insured amount after considering the depreciation of the vehicle. However, with the Return to Invoice Cover, the insurance company will pay the amount you originally paid to purchase the car. Hence, you can avoid the depreciation factor while receiving the claim settlement.

5) Consumables Cover

Consumables such as engine oil, lubricants, gearbox oil, screw, nut and bolt, grease, distilled water, bearings, oil filter, etc. are covered while settling claims. This is not covered under the standard Comprehensive car insurance policy. By including the Consumables add-on cover you can reduce the cash outflow from your pocket while settling the repair bill.

6) Accident Cover

The Accident add-on cover is mandatory while insuring your car. In case of bodily injury or death of the owner-driver of the car, the insurance company will pay the compensation. The scale of compensation is 100% for death, loss of two limbs, loss of sight of two eyes, or one limb and one sight. 

7) NCB Protection

The policyholder will continue to enjoy the benefit of the No Claim Bonus (NCB) even if a claim is raised during the policy period. NCB Protection add-on cover lets you enjoy the discount that you will receive for driving safely and for not raising any claim even if you do raise a claim due to an unfortunate incident. This is limited to two claims during the policy period.

8) Key Protect Cover

High-end or technologically advanced car keys are valuable and expensive to replace. The Key Protect add-on cover protects the cost of replacing the car keys in case it is lost, stolen, damaged or even repairs the car fob or keys.

9) Loss of Licence or RC

In case your Driving Licence or the Registration Certificate (RC) of your car is lost or stolen, then the insurance provider will pay the fixed amount specified in the add-on cover.

10) Small Repair Claims

In case during the policy period, your car requires small repair jobs in Acko approved garages such as wheel balancing or alignment, polishing, minor dent work, brake or clutch overhaul, battery replacement, among others, the insurer will pay the labour cost towards these minor repair jobs. Note: The claim towards these small repairs will not affect the NCB.

11) Theft of Personal Belongings

In case of theft or robbery of personal belongings kept inside the insured vehicle, the amount up to the Sum Insured mentioned in the policy will be compensated to the policyholder. This will be compensated after considering the depreciation factor of the stolen personal belongings.

12) Electronic Equipment

In case of theft, accident or burglary of electronic equipment kept inside the insured car, the insurer will reimburse the cost of the equipment after considering the depreciation specified in the policy.

13) Damage to Personal Belongings

In case of an accident of the insured car, the insurance provider will compensate for the cost towards the repair or replacement of personal belongings kept inside the insured vehicle. The compensation will be after considering the depreciation of the personal belongings.

14) Outstation Emergency Cover

In case of a breakdown or accident of the insured car outside 100 km radius of the insured’s place of residence and the vehicle is immobilized, the insurer will pay the amount specified in the policy attached to the add-on cover towards the repair of the vehicle. Also, any claims through the add-on cover will not affect the NCB.

Frequently Asked Questions About Add-on Covers in Car Insurance:

Below are some of the common queries about different add-on covers offered in car insurance:

Do add-on covers affect the car insurance premium amount?

Yes. It slightly increases the premium amount of the Comprehensive insurance policy since you can take advantage of the additional benefits.

Is there a different claim procedure if you buy these add-on covers?

The process remains similar to raising claims under the standard Comprehensive car insurance policy. You will have to follow the procedure mentioned by the insurance company for any claim during the policy period.

Why is add-on cover important?

While the Third-party Liability plan covers the third party, the Own Damage plan covers liabilities arising from damages to your car.  However, the standard car insurance does not provide additional coverage or add extra value to your car. For example, the Zero Depreciation add-on cover does not consider the depreciation value of the car parts which are being replaced or repaired while settling claims. With this add-on you can avoid paying from your pocket.

Is it mandatory to buy add-on covers for cars?

While it is not mandatory to buy add-on covers, it does add value and enhances your regular car insurance by offering additional financial coverage.

What is the difference between Zero Depreciation and Comprehensive Insurance?

While settling a claim, the insurance company will consider the depreciation of car parts and then settle the repair bill. You will have to pay the remainder from your pocket. However, with the Zero Depreciation add-on, the depreciation of car parts which are being replaced or repaired is not considered by the insurer. The complete repair bill is paid by the insurer.

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