Motor Insurance Add-on

WHAT is an ADD- ON cover?
Motor Insurance Add-on provides additional covers on payment of additional nominal premium, in the vehicle insurance policy, which is otherwise not covered. While insurance is thought as a recurring annual expenditure by some, but sometimes having standard comprehensive car insurance is not sufficient enough hence various add-on are increasingly becoming necessary extension in motor insurance policy.

WHAT are the TYPES of ADD-ONS available?

  • It ensures that one  receives full claim value for motor parts that are replaced after an accident with out any deduction for depreciation.
  • Getting full claim without any depreciation of bumpers and other such parts that are fully replaced post any accident offers a win-win situation for both the consumer & the insurance company.
  • Depreciation rate increases with vehicles age.
  • Enables the reimbursement for basic services in case of an emergency while driving through a remote location or one devoid of any assistance or service centers.
  • Users opting for such add-on policies can avail fuel assistance, taxi and accommodation benefits while staying in a remote location.
  • Covers expenses for repair and/or replacement, as may be necessitated arising out of accidental loss or damage to tyres and tubes.
  • Whenever replacement of tyre will be allowed it will be of the same make and specification and if tyre of similar specification is not available and replaced tyre is superior to damaged tyre then company will not be liable for betterment charges.
  • If damage to tyre and tube is due to the accidental damage to the insured vehicle covered under “Own Damage” section of the policy and hence this cover will be restricted to the difference of depreciation percentage.
  • It provides the user the option of availing the full value of the vehicle in case the car gets totally damaged in an accident or otherwise.
  • This Cover also reimburses first time registration charges and road tax on the insured vehicle.
  • This cover will pay for the loss or damage to insured and insured’s Family member’s personal belongings while they are in the vehicle at the time of loss or damage to the vehicle.
  • Any claim under this section will be admissible only when there is a valid and admissible claim in respect of the vehicle arising out of the same accident.
  • This Add-on pays for repair and replacement expenses or damage to –
  • Internal parts of the engine, Gear Box, Transmission or Differential Assembly
  • Provided loss or damage is due to ingress of water in the engine or leakage of lubricating oil from engine / respective assembly.
  • The cover can be allowed up to the vehicle age of 3 years only.
  • The cover is available with 2 options- With deductible and without deductible
  • Consumable for the purpose of this cover shall include engine oil, gear box oil, lubricants, nut & bolt, screw, distilled water, grease, oil filter, bearing, washers, clip, break oil, air conditioner gas and items of similar nature excluding fuel.
  • A claim for only Glass/plastic/rubber/fiber part where one opt for repairs rather than replacement, at our authorized workshops/authorized dealers/authorized service stations.
  • However, cost of painting of parts without any other repair associated with these parts is not covered.
  • Covers the cost to replace vehicle keys if the same are lost/stolen and locks and keys both if the vehicle is broken into
  • Break-in Protection – cover will reimburse the cost of replacing locks and keys if Vehicle is broken into. Covered costs include the labor cost for replacing the lock.
  • The company will pay for the cost of overnight stay and taxi charges for returning back to the insured’s place of residence or the nearest city provided.
  • Any claim under this section will be admissible only when there is a valid & admissible claim in respect of the vehicle arising out of the same accident.

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