By Mr. Arun Balakrishnan, BerkshireInsurance.com
A comprehensive motor insurance policy is a must to secure oneself against financial adversity in case of an accident or / breakdown. Besides the basic cover for third party liability & own damage, there are a number of riders which can add value to your auto insurance policy over and above the Insured Declared Value (IDV).
Different Riders..!
One can select different riders, depending on the type of car, the nature and amount of usage etc...!
Some riders which you can consider are as follows..
Zero Depreciation Shield..!
Under a depreciation cover, one can get the full value of the car without deduction of depreciation on value of parts replaced. Regular motor policies do not reimburse the full value of the damaged parts but consider the depreciation which may range from 10 to 50 % depending on the age & condition of the car and on the parts which need repair or replacement. Depreciation Shield protects one from loss due to depreciation.
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| Arun Balakrishnan, BerkshireInsurance.com |
Engine protector..!
Engine protector covers damage caused to the internal parts of the engine & the gear box of the vehicle due to circumstances like consequential damage owing to water ingression. Since repairs to the engine, even if minor, are tough on the pocket, such a cover can prove extremely useful.
Roadside Assistance..!
Insurers nowadays offer 24 / 7 roadside assistance services. This provides benefits like vehicle towing facility, changing a flat tire, alternative transport for occupants, accommodation benefits in the event of a breakdown or accident during long distance travel, replacement of lost keys, spare keys if the keys are locked inside, fuel assistance in case of a dry tank etc. This add-on can be especially beneficial for women and elderly drivers as well as for those who regularly travel long distance.
Return to Invoice..!
This cover is useful in case of loss or total damage. Such a rider would give you the invoice value of the car rather than the depreciation adjusted IDV. This benefit is available only for new cars and for the first year of the vehicle.
No Claim Bonus..!
NCB (No Claim Bonus) is a benefit for not making any claim in the previous year. NCB accumulates over time and helps you earn discounts of upto 50 % on your premium. Once a claim is made, NCB benefits are lost. This cover protects the NCB benefit, even if a claim is made.
Each rider has a definite purpose & can prove useful given a particular situation. Needless to say, each one comes at a cost and pushes up your premium. It is important to select riders judiciously as per one`s requirements. The simplest way to make an informed choice is to compare policies on online portals. . So, compare, think and select the right rider to make the most of your car insurance policy.
Fro Media Contact...!
Tripti Modi - Senior Account Executive
Adfactors PR Pvt Ltd, Mumbai - 400 013
Tel: +91 22 6757 4444 Extn-292
Email: tripti.modi@adfactorspr.com
This is a good information on the right riders for the car insurance policy.
ReplyDeleteThanks for the same..
Car insurance policy by berkshireinsurance is really worth.
Very Nice Article.
ReplyDeleteK. Ganesh Chennai - 17
Nice informative writeup...
ReplyDeleteThanks Berkshireinsurance for the same!!
Really nice..
ReplyDeleteThanks Berkshireinsurance for the article.