Car Insurance Riders: You also have to take extra care of your cars during monsoon. Just taking car insurance is not enough.
You also need to take care of some additional riders while taking your car insurance. These insurance riders save you a lot in various situations. Let us have a look at some of the popular insurance riders.
Engine Cover
Usually, in a place where there is a lot of rain or there is a possibility of floods, the engine cover rider is a great thing in such places. This coverage protects you from expenses if your car is stuck in a ‘hydrostatic lock’ due to submersion in water or due to water entering the engine. You have to spend around 0.5% of your IDV (Insured Declared Value) for this coverage. For example, if the IDV for your car is Rs 3 lakh, you will have to spend Rs 1,500.
Roadside Assistance
If you are out on a long ride and your car is not starting midway, you are stuck in the middle of the city or on a highway, then you will need a roadside assistant. You have to spend around 0.5% of your IDV for this type of rider.
Return to invoice
If you live in an area where monsoon damages usually happen, then this rider is of great use to you. In such a situation when your car is more than 75% damaged then you have to remove your car. In such a situation, if you do not have this rider, only your Sum Assured is paid to you. But this return to invoice rider will get you the full amount of the car. However, this rider is slightly more expensive than the rest, for which you have to spend up to 10 percent.
Marginal Expense Rider
Expenses on nut bolts, distilled water and grease etc. are very common during monsoon and you do not get any insurance cover on these items. If you have taken a rider for this, then you will not have to worry about these expenses. For this you have to spend 0.2% to 0.4%.
Rental Reimbursement
You have to send your car for repairs from time to time. In such a situation, if you rent any other car during this time, then this rider covers these expenses.
