Tata AIG - 13 Important Add-on Covers For Your Car Insurance Policy
1. Nil Depreciation Cover
The value of your car depletes with time due to which your car insurance coverage reduces too. However, with this nil depreciation add-on cover you get the enhanced compensation against your car insurance as it reduces the depreciation cost of all the parts of your car excluding tyre, tube and battery, where just 50% depreciation is exempted. Hence, you can get an increased claim amount by paying an additional premium to include this add-on in your plan.
2. Daily Allowance Cover
This add-on cover offers you a fixed amount to compensate for your transportation expenses which may arise due to the unavailability of your car due to under repair for a valid claim. However, allowance is given only if your car repair work takes more than 3 days at the insurer’s network garage. The allowance is available for a maximum 10 days during repair work, but in the case of theft or total loss it can reach up to 15 days.
3. Return to Invoice Cover
The Return to Invoice is an add-on cover that compensates the amount of difference between the invoice value of your car and its Insured Declared Value (IDV). With this cover, you can avail reimbursement of your total loss incurred, which means its on-road price that you actually paid while purchasing it, if your car goes missing or suffered a total loss due to an accident. Invoice price which includes road-tax and registration charges in addition to the IDV is provided under this add-on in case of theft and total loss of your car.
4. No Claim Bonus Protection Cover
By not making any claim in the policy period you can get a reward in terms of a discount known as No Claim Bonus (NCB). The bonus can be accumulated with every claim-free year and it ranges from 20% to 50% and is applicable on its own-damage premium. But, it can go null and void if any claim is made during the policy period. Therefore, No Claim Bonus Protection Cover is designed to protect your NCB reward, even if you make any claim.
5. Loss of Personal Belongings Cover
This add-on cover offers compensation for the damage or loss incurred by your personal belongings present in your car during the loss or damage caused to the car for more than Rs. 250. The coverage is given for clothes, belt, audio or video CDs etc.
6. Repair of Glass, Fibre, Plastic & Rubber Parts Cover
With this add-on cover, if you choose to get your glass, plastic, rubber and fibre parts of your car repaired instead of getting them replaced at an insurer authorised dealer or network garages, it will not affect your No Claim Bonus (NCB) status during the time of renewal. However, such claims should not be made more than one time during the policy period.
7. Emergency Transport & Hotel Expenses Cover
If your car becomes immobilised due to a mishap or an accident, then this add-on cover compensates your overnight stay cost and taxi fare involved in coming back to your home or to the nearest place you were going to.
8. Key Replacement Cover
The Key Replacement Cover is an add-on that offers compensation for the cost of replacing your car’s keys, if they go missing or stolen.
9. Hire Car Cover
The Hire Car add-on cover arranges a car for your daily commute, while your car is under repair at the insurer's network garage for a valid claim. However, this car replacement or hire car benefit is offered only if your car stays for more than 24 hrs or the claim is for car’s theft or total loss. The allowance is available for a maximum of 10 days while your car is being repaired, but can be increased to up to 15 days in the case of theft or total loss claim.
10. Engine Secure Cover
The engine secure add-on covers the replacement or repair costs for the loss or damage caused to internal parts of the gearbox and engine of your car due to leakage of lubricating oil from the engine and ingression of water in the engine. This is a cover that is available for cars up to 5 years of age.
11. Tyre Secure Cover
It offers compensation for the repair and replacement costs that arise due to accidental damage or loss incurred by tubes and tyres only, which results in puncture, tyre burst, etc. This add-on cover is applicable only for cars aged up to 5 years.
12. Consumable Expenses
This consumable expenses add-on offers the coverage for the costs of consumables that need to be replaced or refilled due to an accident of your vehicle. The consumables which are covered under this add-on benefit include engine oil, lubricants, nuts & bolts, screws, distilled water grease, gearbox oil, bearings, washers, brake oil, air conditioner gas and much more.
13. Roadside Assistance Cover
The roadside assistance is an add-on cover which offers the coverage for the repair & towing assistance such as flat tyre service, flat battery, on the spot repair, key retrieval, emergency fuel delivery, and so on. By paying an additional premium you can get this cover and find assistance if your car experiences any mechanical failure or breaks down anywhere on the road or at home.