A Comprehensive car insurance policy is not enough to cover all the losses/ damages caused to your car. It cannot provide a 360- degree cover to your car. Don’t worry…riders are at your rescue….!!!
Auto insurers provide various riders for the situations which are excluded from coverage. Riders are optional add-ons which save the insurer from the vehicle-related expenses by increasing the coverage of the insurance. However, the policyholder has to pay some extra premium for getting the benefits of such add-ons. One should understand about involuntary intoxication here
as there are accidents that occur due to this as well.
Essentials among them are as under:
Generally, as stated by auto accident law firm in Portland
, the depreciated value of the damaged car is taken into account by the insurance company at the time of filing an insurance claim, not the market value. Depreciation is subjected to many factors such as model of the car, age, make etc.
Zero Depreciation rider helps you to recover the full amount which will constitute the market value of the car, in case you meet with an accident. It makes you immune from various deductions based on the depreciation value and entitles you to claim the full costs without bearing any expenses from your pocket. For instance,
Most car insurance companies do not cover damages caused to the engine of the vehicle. In India, the instances of clogged drains, flooding on roads due to heavy rains are very common. Engine Protect rider come as a relief to the people living in the areas which are more prone to such calamities. It covers the damages and repairs to be made to the engine of the car due to such consequences.
Ambulance and Medical Expenses:
In case you, the car insurance holder, or any other party meet with an accident and require immediate medical attention, the Ambulance and Medical Expenses rider is there to save you…..
It covers all the medical expenses incurred by you within the limit of ₹10,000
Personal Accident Cover:
Most of the car insurances policies in India are available with this rider. In case if it is not available, it should be taken up by every vehicle owner at the time of taking the policy. It protects the family of the policyholder in case of unforeseen events like road accident leading to temporary/ permanent paralysis, disability or death. You have to find a lawyer for your motorcycle accidents
or any other accident related cases.
Sometimes, accident can destroy your car beyond repair or it may get stolen. In such cases, the insurance company declares it as a ‘total loss’, which means that the claim amount received under such circumstances will be less than the actual market value of the car, not enough for replacement. Vehicle Replacement acts as a savior. It will get your car replaced by a new or equivalent car.
Once the car is damaged and is undergoing a service at the service centers, consumes a lot of time and deters daily tasks. In the absence of own mode of transport, you will have to use either public transport or a rented car from a place like white scar cave
, taxi etc.to commute. Rental Reimbursement rider will help you cope up with such costs by paying the car rental bills on time. Although, it is not so common in India.
Roadside Assistance and Towing:
This Rider helps you with different vehicle-related assistances 24/7. In case your car cannot move after an accident, misplaced/locked your keys, flat tire, need a jumpstart for your battery, car towing, refueling etc. are all covered under this rider.
It covers all the damages to the consumables such as gearbox oil, clutch box oil, coolants etc. It costs nearly 0.2-0.4% of your vehicle value.
However, certain factors are to be kept in mind while selecting a rider. There is definitely no point in selecting add-ons which are not required. For instance, you won’t require a Personal Accident Rider if you already have life insurance policy. It will unnecessarily add to the cost of the policy without providing any additional benefit.
So, it is very important to identify the potential risks which may be faced in future and the rider which will be most beneficial for covering such risks at the time of buying a new car insurance policy or renewing an existing one.