- Date : 02/12/2021
- Read: 3 mins
Read on for a list of riders that can be added to your motor insurance policy.
When it comes to buying motor insurance, most vehicle owners tend to know what they want. If it's a brand new car and they want to ensure the utmost protection for their vehicle and themselves, a comprehensive policy is the usual choice. On the other hand, if they prefer to save on insurance costs because it might be an older vehicle or for some other reason, a third party policy should suffice. Either way, having motor insurance is a legal requirement for any vehicle owner.
As a bike or car owner, it is important to understand that the risks are not limited to just the road. There are various factors that could damage your vehicle. And the one way to reduce the financial burden that such instances bring is getting the correct insurance rider.
The need for motor insurance riders
Bike or car insurance riders are add-ons that you can opt to include in your insurance policy for an additional charge. They generally do not cost too much, but they can save you relatively high repair charges in the long run.
Just as you can buy a bike or car insurance policy online or complete the insurance renewal online, you can also pick your preferred riders through your insurer's website.
Must have riders you can add to your insurance policy
Listed below are some riders that can be added to your motor insurance policy to enhance your coverage. Choose from them as per your preferences.
- Zero depreciation: Under this cover, you can claim the entire value of the car instead of its depreciated value. You can add this cover at an extra cost, over and above your car insurance premium.
- Engine cover: This cover offers coverage against any damage to the engine of the insured vehicle. The cover can be used for repair as well as replacement of the engine.
- Ambulance and medical expenses: In case of an accidental injury caused to the driver or a third party, this cover pays for the ambulance or medical costs. It can include the cost of hiring an ambulance as well as emergency treatment at the hospital.
- Roadside assistance and towing: If you ever find yourself stuck due to lost keys, a flat tyre, or an unexpected breakdown, this rider offers emergency assistance facilities.
- Rental reimbursement: If your car gets damaged while on the road and you need to rent a car or use public transport, the rental reimbursement rider will reimburse you for the expenses.
- Personal accident cover: This rider offers an accidental cover in case of permanent or temporary disability and death caused by an accident. The benefits paid can help the family members of the driver in a number of ways.
- Consumables rider: This rider covers any damage caused to consumables such as engine oil, lubricant, gearbox oil, nuts and bolts, and coolants.
You can also read Understanding the benefits of the 7 major car insurance riders
Motor insurance riders can enhance the extent of your coverage, so make sure to add some or all of them when you buy your policy (or at the time of insurance renewal). The extra expense is well worth the peace of mind and the additional financial cushion you get.
Also read: Top 5 car insurance companies with claim settlement ratio above 90%