What Are The Car Insurance Add-On Covers Offered By HDFC ERGO?

When you purchase car insurance, it is very important to pick a policy that offers adequate coverage. Today, you can tailor your car insurance policy according to your requirements with the help of additional covers. Additional covers are nothing but the extra coverage offered by car insurance companies to help you to get the required coverage that is not provided in the standard car insurance policies. In this article, you can read about the add-ons offered by HDFC ERGO General Insurance. 

Additional Covers Offered By HDFC ERGO General Insurance

Purchasing car insurance will bring you to consider the coverage offered by the insurance company. HDFC ERGO General Insurance is one of the most reputed and reliable insurance providers. In the financial year 2019-20, HDFC ERGO had an excellent CSR of 91.23 per cent. It implies that if you get a car insurance policy from this company, you will be able to get your claims handled swiftly and simply. HDFC ERGO General Insurance offers the following additional covers for your standard car insurance - 

• Zero Depreciation Cover

Depreciation of your car and its parts is a normal occurrence, and you, as the car owner, are responsible for paying for it. However, by adding this zero depreciation add-on protection to your policy, you may relieve yourself of the burden of incurring the depreciation expenditure. This insurance exempts you from 100% depreciation on your car and all metal and plastic parts, with the exception of tyres and batteries, which are exempted from 50% depreciation. This add-on is available in the event that your car suffers a partial loss.

• Engine And Gearbox Protector 

This add-on extends your car insurance policy's coverage for damage to sections of your car's engine and gearbox caused by water infiltration and lubricant leaking. This add-on covers the cost of repairs and replacements, as well as the labour costs incurred during those repairs and replacements, as well as engine cylinder re-boring, compression testing, and other machining costs.

• No Claim Bonus Protection Cover

The insurer rewards you as a policyholder with a No Claim Bonus if you don't make any claims throughout the policy period. NCB is given to you in the form of a 20% to 50% discount on your insurance plan's own-damage premium, depending on how many claim-free years you have. However, if you make even one claim during the insurance time, you will lose this advantage. If you have a No Claim Bonus Protection Cover, however, you can maintain your NCB even if you file up to three claims within the policy year.

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• Consumables Cover

Consumables are objects that, after being used, are either completely consumed or rendered unsuitable for long-term use. Nuts, bolts, screws, washers, grease, coolants, engine and other oils, A/C gas, bearings, battery water, filters, and so on are examples of consumables. When you choose this add-on, the insurance company covers the cost of the consumable. During the policy period, this add-on allows for one claim.

• Return To Invoice 

In the event that your car is totalled or stolen, the insurance compensates you with the Insured Declared Value (IDV) of your car. However, the IDV is less than the Invoice Price, which is the amount you paid when you bought the car. In the event that your car is totalled or stolen, this coverage will help you recover the invoice price as compensation. The invoice price includes the car's ex-showroom price, road tax, and registration fees.

• Emergency Assistance Cover

This coverage offers emergency roadside assistance in the event that your car is immobilised due to a mechanical or electrical breakdown, as long as the problem can be rectified within 60 minutes at the immobilisation location. Aside from the repair service, the add-on cover includes duplicate keys, a battery jump-start, tyre replacement, fuel assistance, and towing support.

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Take Away

Purchasing car insurance is definitely an easy process once you figure out what you need. Make sure to insure your car at the earliest to avoid legal and financial complications and drive safely.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.