Monsoon-proof your vehicle with engine protection covers
If you own an EV, Buying a battery-protection add-on would be prudent
The India Meteorological Department (IMD) has
predicated a fifth consecutive year of normal monsoon. A good monsoon, while essential,
presents challenges for car owners who live in areas prone to heavy rains,
floods, and water logging.
President-retail business, HDFCERGO General Insurance
says ’”For such geographies, it’s always wise to choose a few add-ons to
protect against potential damages that might unexpectedly arise during the
monsoon season.”
Engine protection cover:
A comprehensive policy typically doesn’t cover damage
to the engine or the gearbox due to water logging. “This add-on safeguards the
engine against part like the cylinder head, piston, and crankshaft, among
others. These parts aren’t covered unless you buy this specific add-on. ”Ghosh
warns that repair costs can mount to several lakh if parts of the engine have
to be repaired or replaced.
Electric car owners must park their vehicles on
elevated ground so that it does not remain submerged overnight. Ramalingam
stress the importance of buying a battery protection add-on cover of safeguard
against the cost of replacing the battery.
Roadside assistance cover: This is another must –have
cover during the monsoon. “This cover proves especially handy when your vehicle
breaks down mid-journey and is immovable. If you have this cover, a
professional technician will arrive at the site to repair the damage.”
Ramalingam points out that this add-on provides
multiple benefits-including towing, taxi, fuel, flat tyre support, and medical
coordination. A ward of caution here. Always buy this cover as an add-on from
an insurer. In recent times, scammers have been targeting car owner with cheap
“RSA” (roadside assistance) services. Having bought these two essential
add-ons, you may consider a few additional ones.
Zero depreciation add-on:
This add-on, popularly known as the bumper-to-bumper
cover, is relevant during the monsoon season, with its heightened risk of
vehicular accidents due to slippery roads and impaired visibility, Normally,
when a vehicle gets damaged and parts have to be replaced, the insurers pays
the depreciated value of those parts. However, with a zero –depreciation
coverage, the insurers bears the full cost. This add-on cover most automobile
components fully, but offers only 50 percent coverage for batteries, tyres and
tubes. The premium for this add-on depends on the vehicle’s age. While some
insurers offer it until the vehicle is five year old, others extends it to
older vehicle as well.
Return to invoice:
Goel explain that a return to invoice add-ons will
compensate you for the full invoice price of your vehicle, rather than its
insured declared value (IDV). If it’s stolen or damaged beyond repair. A
vehicle‘s IDV is its depreciated ex-show-room price, which means you would only
get a part of the total cost if the vehicle is stolen or irreparably damaged.
Key replacement:
This add-on covers the cost of replacing a car key. If
it is lost, damaged or stolen. In high-end models, replacing the key can be
expensive. “With the advent of sophisticated technologies such as
Frequency-Operated Buttons (FOB), the cost of replacing the keys of luxury cars
can be substantial.”
The insurers even compensate you for replacing the
lockset, if necessary. Kumar adds, “Insures cover the cost of replacing the key
and the lock if there is an attempt at theft or vehicle break-in, “On selection
of appropriate add-ons, “If you own an expensive car, opt for return to
invoice, zero depreciation, and key replacement covers. Owner of mid-and
small-sized cars may avoid the increased premium that results from opting for
these covers.”
For More Details: Pooja Manoj Gupta, visit www.giia26.com
Email: pmgiia26.com Mobile 8882286639
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