Exclusive add-on covers for own damage coverage every car enthusiast should consider

For car enthusiasts, a vehicle isn’t just a mode of transportation—it’s a passion, a hobby, and often, a significant investment. While standard insurance policies provide a foundation of protection, they might not cover the unique needs and risks associated with owning and customising a car.

This is where exclusive add-on cover for own damage coverage come into play. These add-ons offer tailored protection, ensuring your prized possession remains safeguarded against unforeseen circumstances. Let’s look into some of the must-consider add-ons for every car enthusiast.

The best add-on cover for your car

Below are some of the exclusive add-on cover every car owner can consider:

1. Consumables cover

The consumables add-on cover the cost of consumables like engine oil, nuts, bolts, washers, lubricants, brake oil, power steering oil, and AC refrigerants used during a vehicle’s repair. A standard car insurance policy does not typically cover these categories. By purchasing this add-on, you can save on these vital parts and help smoothen claim settlement. They are instrumental when the vehicle requires elaborate repairs after an accident.

2. Depreciation cover

It ensures that the depreciation value of your vehicle and its parts is not deducted during claims. Without this cover, the insurance company pays only the current depreciated value of the parts, leaving you to bear the difference. This add-on guarantees a higher payout, covering the full cost of replacing or repairing damaged parts.

3. Engine protect cover

This cover delivers financial protection for your vehicle’s engine repair or replacement resulting from damages from water ingress or oil leakage. This add-on is essential in areas exposed to floods or waterlogging since standard insurance cover mainly exclude such damage. It is an essential add-on to protect your car’s heart—engine— against unforeseen situations.

4. Return to invoice cover

It is designed to reimburse the full invoice value of your car in case of a total loss or theft. Unlike regular cover that pays only at the IDV (Insured Declared Value), this extension pays the gap between the invoice price and IDV. Allowing you to get a comparable car without any dent in your finances. This makes a lot of sense for newer cars when depreciation takes quite a big chomp out of the car’s value in the first few years.

5. Tyre cover

This add-on protects your car’s tyres and tubes against unintentional damage caused by punctures, cuts, bursts, and similar events. It restores repair or replacement charges from damage by potholes, sharp objects, and uneven road surfaces. This is particularly useful to those who often travel on untidy roads; otherwise, all these damages to the tyres might create a monetary burden.

6. 24×7 roadside assistance

It provides all-around support in case of a road breakdown anywhere. Roadside assistance add-on offers towing, jump-starts for a dead battery, flat tyre replacement, emergency fuel delivery, and minor on-the-spot repairs. This type of cover ensures that one will never be stranded on the road and gives peace of mind while travelling long distances.

7. Daily car allowance

The Daily car allowance cover reimburses your transportation costs while your car is being repaired after an accident. It provides a fixed daily allowance, which can be used to hire a cab or use alternate means of transportation. This cover ensures minimal disruption to your daily routine and is particularly helpful for individuals who rely on their vehicles for commuting. The benefit is typically provided for a specified number of days, depending on the policy.

8. NCB protect

This add-on is a great option to keep your No Claim Bonus even if you claim during the policy year. Usually, the occurrence of a claim would have resulted in restaining NCB and would have led to an increase in premiums at renewal. But with the NCB Protect add-on, you can enjoy the benefits of cheaper premiums for every claim-free year, even when a claim happens. It is particularly suitable for users who want long-term savings on car insurance premiums without denying cover.

9. Loss of personal belongings

It covers the financial loss due to theft or damage of items in your car, such as laptops, mobile phones, or other valuables. It also covers essential documents like your driving license, registration certificate, and other personal papers. Moreover, this add-on also provides peace of mind by cover the cost of replacing expensive items, ensuring you don’t have to bear additional financial strain after a mishap.

Why do these add-on cover matter?

The vehicle is more than just a transportation tool for car enthusiasts—it reflects personal style and is a repository of memories. Standard insurance policies may not account for such vehicles’ nuances and specific risks. Exclusive add-ons bridge this gap, offering tailored protection that aligns with the unique needs of car lovers.

Moreover, investing in these add-ons can provide financial relief and peace of mind. In the event of an accident or any other unfortunate incident, these specialised cover ensure you are not left bearing the full brunt of the costs. This is particularly important for high-value or customised vehicles, where repair or replacement expenses can be substantial.

Choosing the right add-on

Keep these guidelines in mind to go for the right add-on cover for your car, ensuring its longevity and maintenance,

• When choosing add-ons, consider what you really need and how much your car and its parts are worth. Begin by examining how you use your car, where you live, and any special changes you’ve made to it.
• If you live in an area that floods, engine protection and return-to-invoice cover could help avoid very high repair costs in the future.
• Consider your car’s age and model. A new car might do well with the return-to-invoice cover because it covers the difference between the car’s original price and its current value. An older car might benefit more from consumables and tyre cover.
• Think about how much comfort and safety you want. Add-ons like 24×7 roadside assistance and a daily car allowance ensure that you are never stuck without help and can keep moving even after an accident.

Conclusion

Exclusive add-on cover are vital for protecting the full value of your car. They fill the gaps left by basic insurance, covering things like engine problems, damaged parts, and loss of belongings. These cover help manage unexpected expenses and keep your car’s unique features safe. By choosing the right add-ons based on your needs, location, and how you use your car, you can ensure better protection. This careful selection not only protects your investment but also brings peace of mind, allowing you to enjoy driving your car without worry.