A must have add-on while buying car insurance. This add-on comes in handy if the car is completely destroyed. One can get similar or near equivalent vehicles in this make, model, features, specifications. This cover allows the facility to claim the invoice value of the car in case of theft or damage to the car.
It is mandatory to take motor insurance while buying a car. Gurdeep Batra, Head Retail Enterprise, Bajaj Allianz General Insurance, said that people often forget to get the necessary add-ons while getting insurance, due to which the policyholders do not get the full claim in case of damage to the vehicle during an accident. These add-ons to motor insurance will de-stress the vehicle owners.
Vehicle Replacement Add-on
This add-on comes in handy if the car is completely destroyed. One can get similar or near equivalent vehicles in this make, model, features, specifications. This cover allows the facility to claim the invoice value of the car in case of theft or damage to the car.
Engine Protection
This add-on protects against incidents like water ingress into the car engine, damage to the gear box, damage to the hydrostatic lock. It allows claims for replacement of engine parts.
Consumable cover
Consumable components of the car such as lubricant, engine oil, brake oil, nuts and bolts, oil filter are excluded under motor insurance policy.
