Motor Insurance – Add-on Covers

When we go for car insurance claim, we never get full claim amount. The insurance company say that it will pay as per the current market value of the damaged part or deduct depreciation from the claim amount. Always there are concern by insured that when at the time of proposing for insurance, I am paying full premium, why the insurance company is not paying me the full claim. Now with the new add on covers by the insurance companies, we can buy these add on covers and protects us from above risks –

What is an add-on cover?
Add-on’s are additional benefits and coverage options that may be available to you on paying additional premium. These covers extra risks (as specified in the add-on) at extra premium.

What all add-on covers are available?

Hospital Cash Cover
The insurer will indemnify the insured with daily hospital cash allowance arising from injury to insured persons while travelling in the insured vehicle at the time of accident. Hospital Cash Cover limit is of Rs.1,000 for 30 days. Available with Bharti Axa Comprehensive Car Cover.

Ambulance Charges Cover
The insurer will indemnify the insured with charges towards transportation of insured persons in ambulance to the hospital, post suffering bodily injury caused by an accident while travelling in the insured vehicle. Ambulance Charges cover limit is Rs.5,000. The insurer will indemnify the insured with actual ambulance charge or Rs.5,000, whichever is less. Available with Bharti Axa Comprehensive Car Cover.

Medical Expenses Reimbursement Cover
The insurer will indemnify the insured with all the medical expenses in case of injury to the insured persons while travelling in the insured vehicle. Medical Expenses cover limit is Rs.10,000/person. The insurer will indemnify the insured with the insured with actual medical expenses or Rs.10,000, whichever is less. Available with Bharti Axa Comprehensive Car Cover.

Depreciation Cover
The insurer will indemnify the insured with the case of any replacement of part arising from accident of the insured vehicle. But the Depreciation Cover is only available to vehicles up to 2-3 years old. So if your vehicle is less than three years old you can get full claim amount if they is loss of any part due to any accident. Available with Bharti Axa Comprehensive Car Cover, Tata AIG General Insurance, Royal Sundaram Insurance and HDFC Ergo General Insurance.

Personal Belongings Cover
The insurer will indemnify the insured against loss of or damage to such Personal Effects, whilst in the vehicle insured where such loss or damage is occasioned by operation on the insured vehicle of any of the perils mentioned in the policy and the claim in respect thereof is admissible under the policy. The insurer will indemnify the insured for the personal belongings. Available with Tata AIG General Insurance and Royal Sundaram Insurance.

Daily Allowance Cover
The insurer will indemnify the insured with daily allowance up to Rs.3000/- per day if the vehicle meets with an accident and is under repair. The insurer will indemnify the insured with actual daily allowance or Rs.3,000, whichever is less. Available with Tata AIG General Insurance, Royal Sundaram Insurance and HDFC Ergo General Insurance.

Road Tax Cover
With this add-on following risks would be covered –
1. Full Road Tax paid for a new vehicle
2. Proportionate outstanding Road Tax for older vehicles
3. Vehicles upto 3 years of age
4. Payment of outstanding Tax in full as mentioned in the policy, in case of Total Loss/Theft
Note- Life-time Road Tax Clause is applicable to selective States in India Only.
Available with Royal Sundaram Insurance.

Road Assistance Cover
This add-on will provide complete roadside assistance in case of a breakdown. The cover range from providing a duplicate car key or five litres of fuel to the stranded customer if there is such a problem. Available with Iffco-Tokio General Insurance.