Automobile ownership is a necessity for most Indians today, because of our fast-paced modern lifestyles. The increase in disposable incomes, easy financial assistance, and attractive discounts makes it easier for people to buy cars today. Many buyers forget to consider the costs of regular maintenance and other expenses that can be quite a burden.
Monthly payments, maintenance, and fuel expenses are unavoidable, but there are other unforeseen expenses as well. As preventable as accidents might be, there is sometimes nothing that you can do. In case of an accident, repair costs can be prohibitive. Without insurance coverage, such expenses would wreak havoc with your budget. For this reason, it may be wise to add a few add-ons to your policy, even though they may cost a bit more.
1. Zero Depreciation
This kind of car insurance policy ensures that in case of an accident, the owner receives a full claim, without any deduction for depreciation on the parts that are replaced.
2. Retaining the No-Claims Bonus (NCB)
This bonus is provided to vehicle owners who do not make any claims during the year. Over a period of time, this bonus can be accumulated to avail a discount of up to 50% on the premium cost. However, the premium will be reset if a single claim is filed. Nevertheless, this feature offers owners an excellent solution to keep costs down.
3. Roadside Assistance
Most insurers have provisions to offer roadside assistance and pickup services in case of an accident or breakdown. Policyholders can pay a little extra to include such features as add-ons. Some insurance providers include this under the basic policy but it is advisable to check with the company before buying a car insurance plan.
4. Engine Cover
The engine is the most important component in the vehicle and engine repairs can be a huge expense. Make it a point to include engine cover as an add-on to your car insurance.
Add-ons can greatly enhance your coverage, but don’t get carried away. Do some research and choose features that will be beneficial and affordable to you. Royal Sundaram’s Car Shield Policy offers several benefits, with some features like roadside assistance being offered for free, while many insurers charge for the service as an add-on. With a huge network of garages, a dedicated helpline and numerous add-ons these policies offer several benefits to car owners.