- Date : 14/08/2018
- Read: 3 mins
If you love your car and your family, you have to buy car insurance. But in the monsoons, even a comprehensive policy may fall short without the proper riders.
If you’ve ever driven your car through heavy rains in India, you know what it’s like to be stuck in a traffic jam for hours at a stretch. As the AC is running to keep you cool, you silently hope that your car doesn’t run out of fuel or battery power.
The fact is, your car has no love for the monsoon. Rains can cause a lot of problems for your vehicles- some visible and some behind the scenes- and it’s essential you take certain precautions to ensure you don’t lose money or compromise on the safety of you or your loved ones.
While a comprehensive car insurance policy is essential for every car owner, the monsoon creates the need for some add-on protection. You can get this in the form of add-ons to your car insurance policy called riders. It’s important to know what these are even before you buy your policy, because it’s always possible to add it at a later stage.
- Roadside Assistance Rider: This add-on provides assistance to the driver in case your vehicle suffers any kind of breakdown or if you are in an accident. The services offered by different insurers will vary, but usually include your car being towed to the closest garage for repairing, fixing of flat tires, providing help in case of a lockout or lost keys, arrangement of fuel in case of emergencies and even alternative modes of transportation in case your car suffers immediately irreparable damage.
- Hydrostatic Lock or Engine Coverage: This is an essential rider for any situations where your car would encounter water. This type of insurance covers most of the losses which arise from rain damage and even assists in repairing, replacement and possible even maintenance of broken down car parts, especially in times of water seepage into the engine or hydrostatic lockage. The insurance company will cover engine repair in case it is damaged due to leakage of oil, water stalling etc. if you opt for this rider.
- NCB Protector: If you do not make a car insurance claim for an entire year, your insurer gives you a benefit called No Claim Bonus, in the form of either reduced premium on renewals, or increased sum assured upon renewal. This benefit called NCB can be quite a substantial amount and in some cases can be definitely worth not making a car insurance claim.
Since car insurance can help reduce the impact of monsoon damage, it is prudent to make a claim. However, to avoid losing the NCB benefit, get the NCB protector, or the No Claim Bonus protector rider. This add-on covers ensures that you don’t lose your benefit even if you make up to 2 claims in a year.
- Consumables Cover: This type of insurance cover protects you by covering all expenses incurred on “those items or substances of specific use which at the time of loss are either totally consumed or rendered unfit for further consumption”, chiefly stemming from damage to the insured car and its accessories.
So when you’re looking for the perfect policy to give you, your loved ones and your vehicle 360%u02DA protection, the right insurance riders can help protect you against all possible situations- including the turbulent Indian monsoons.