Zero Depreciation or Nil Depreciation add on cover allows the insurer to pay the claim towards replacement of spares without deduction towards depreciation, thereby paying 100% cost of replacement.Continue reading “Zero or Nil Depreciation Cover”
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Category: Motor Insurance
No Claim Bonus (NCB)
No Claim Bonus (NCB) is the benefit accrued to an insured for not making any claims during the previous policy period.
No Claim Bonus (NCB) is the benefit accrued to an insured for not making any claims during the previous policy period. As per current norms in India, the discount ranges from 20% on the Own Damage premium (and not on Liability premium) and progressively increases Year on Year of no claim to a maximum of 50%.Continue reading “No Claim Bonus (NCB)”
Cover for Accessories
Additional electrical and non-electrical accessories like AV system, LCD screens, Fog Lamps, Alloy Wheels, etc., fitted in your vehicle can be covered with this add-on benefit by choosing a sum insured to cover the value of such accessories.Continue reading “Cover for Accessories”
Towing and Related
Under this add on cover, the insurer will pay for the charges related to towing the vehicle to the nearest/network garages for repair in case of an accident. This cover is a part of road side assistance.
Cover for Road tax
This cover is over and above ‘Invoice Cover’, where in case of a total loss of vehicle, the insurer will pay the cost of road tax for the new vehicle purchased.
Cover for Legal Liability to Paid Driver
This cover is required if drivers are hired or employed to drive your car. There is a legal liability for the owner a car to protect such paid drivers during their working hours under the workmen compensation act/fatal accidents act/common law.
This is not an automatic cover in comprehensive car insurance policies. It is an optional cover for which, you have to pay additional few hundred rupees if you are likely to use paid drivers.
Even if you prefer self driving, you will not know when you will be necessitated to hire a driver. So, it always makes sense to add this cover to your car insurance policy.
Baggage, personal belongings of the insured, if lost in an accident is covered under this add on.Continue reading “Baggage Cover”
This cover pays for the cost of hiring an alternative vehicle if the insured vehicle is stolen or while under accidental repairs.Continue reading “Daily Allowance”
Cover for Consumables
This cover pays for the money spent on nuts and bolts, screen washers, engine oil, etc. in the event of accidental repair of your vehicle, which are normally not paid under a standard motor insurance policy.Continue reading “Cover for Consumables”
Engine Protect Cover
Engine Protect is an add-on cover which provides protection against damage to engine and its parts due to ingress of water, which is common during monsoon or due to hydrostatic lock, leakage of lubricating oil, damage to gear box, etc.Continue reading “Engine Protect Cover”