How car insurance add-on covers can help you be monsoon-ready

Car insurance is not just a legal requirement but also a crucial financial safety net. It protects your car and savings against unforeseen circumstances, such as accidents, theft, and natural calamities. By investing in car insurance, you can mitigate the financial burden that arises from repairing or replacing your car. Moreover, car insurance provides coverage for third-party liabilities, ensuring that you are protected against any third-party liabilities due to an accident.

While a comprehensive car insurance policy offers a wide range of coverage, there are certain add-on covers that you can consider to enhance your car protection during the monsoon season. Here are some of the add-on covers that you can get for your car:

• Engine protection cover: This cover safeguards your car’s engine against damage caused by waterlogging or any other engine-related issues arising from driving on waterlogged roads. It helps cover the costs of repair or replacement of the engine components and saves you from a substantial financial setback.
• Roadside assistance cover: Monsoons often bring with them unforeseen breakdowns and accidents. A roadside assistance cover ensures that you have access to timely assistance in case of emergencies. Services such as towing, fuel delivery, battery jump-start and flat tyre assistance are included in this cover, providing you with peace of mind during long road trips.
• Zero depreciation cover: With time, the value of your car depreciates and in the event of a claim, the insurance company deducts the depreciation amount from the claim settlement. However, with a zero-depreciation cover, the insurance company covers the full cost of repairing or replacing damaged car parts without factoring in depreciation. This add-on cover is particularly useful during the monsoons when the chances of car damage is higher.
• Personal accident cover: Personal accident cover provides additional financial protection in the event of an accident that results in bodily injury, disability or death of driver/owner. This cover offers compensation to you or your nominee, depending on the severity of the injury or loss. It provides coverage for medical expenses, ambulance costs, temporary or permanent disability and even accidental death. 

Now that you understand the importance of car insurance and add-on covers, it is time to know the benefits of purchasing them online. Buying car insurance online has become increasingly popular due to its convenience and efficiency. The process is quick and simple. It saves your time and effort compared to offline methods. Online purchases also provide transparent information, allowing you to compare policies and make informed decisions. 

Purchasing car insurance online is a hassle-free process and can be completed within minutes. Here is how you can buy a car insurance policy online: 

• Research: Compare different insurance providers and policies online to find the one that suits your requirements and budget.
• Visit the website: Go to the insurance provider or any insurance marketplace website or app and navigate to the car insurance section.
• Fill in some details: Enter your vehicle and personal details as required, including the vehicle type, registration number, and contact information.
• Select coverage: Select the desired coverage type, such as comprehensive or third-party and any add-on covers you may need.
• Review and purchase: Carefully review all the information you provided and ensure its accuracy. Proceed to make the payment securely online to purchase the policy.

Also, keep in mind to familiarise yourself with the claim process outlined by your insurance provider. You can follow these steps to raise a claim against your car insurance policy:

• Contact the insurer: Inform your insurance provider immediately about the incident and provide all the necessary details, such as the date, time and location of the incident, as well as the extent of the damage or loss.
• Cashless claim: If you opt for a cashless claim, the insurance company will provide a network of authorised garages where you can take your vehicle for repairs. Submit the required documents, such as the claim form and copy of the policy to the garage. The insurance company will directly settle the bills with the garage as per the policy terms.
• Reimbursement claim: If you choose a reimbursement claim, get your vehicle repaired at a garage of your choice and pay the bills yourself. Collect all the necessary bills, invoices and receipts related to the repairs and submit them along with the claim form and supporting documents to the insurance company.
• Document submission: Submit all the required documents, such as the claim form, copy of the policy, repair bills and any other supporting documents requested by the insurance company.
• Follow-up: Keep track of the claim status and provide any additional information or documentation requested by the insurance company. Coordinate with their investigation if required.

You can conveniently purchase car insurance plans online at platforms like Bajaj Finance Insurance Mall and ensure the protection of your vehicle. Bajaj Finance partners with leading insurers to provide you with various car insurance plans so that you can compare & select a suitable plan depending on your requirements and budget. Additionally, by availing of car insurance add-on covers and understanding the claim settlement process, you can stay financially prepared and protect your car during the monsoon season.

Disclaimer: T&C Apply. Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third-party insurance products of partner insurers under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer’s website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change . URN No. BFL/Advt./23-24/120 

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. This information does not constitute a financial advice.

Updated: 21 Jul 2023, 11:16 AM IST