Nowadays, just basic motor insurance is not enough. You need add-ons that can maximise the financial protection coverage for your vehicle. This is because a standard motor insurance policy helps you stay financially protected in the event of accidental damage, theft, or third-party liability.
However, add-ons become essential when you renew your car insurance policy each year, as they allow you to reassess your coverage based on your driving needs. Below, we explore some of the most valuable add-ons that greatly enhance your insurance plan.
Top 6 Most Valuable Protection Add-ons to Get for Your Vehicle
Here are the top 6 add-ons that can maximise protection for your vehicle and be a value-for-money investment:
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Zero Depreciation
Vehicle parts naturally lose value over time. In case of claim settlements, you need to bear the cost of depreciation deductions, which reduces your final payout. This deduction rate is set by the Insurance Regulatory and Development Authority of India (IRDAI) as follows:
| Age of Vehicle | % of Depreciation |
| Not more than 6 months | Nil |
| More than 6 months but not more than 1 year | 5% |
| More than 1 year but not more than 2 years | 10% |
| More than 2 years but not more than 3 years | 15% |
| More than 3 years but not more than 4 years | 25% |
| More than 4 years but not more than 5 years | 35% |
| More than 5 years but not more than 10 years | 40% |
| More than 10 years | 50% |
With a zero-depreciation add-on, depreciation no longer affects your claim settlement. You receive the full authorised amount for the replaced parts. Thus, this add-on on top of your motor insurance policy helps you avoid large out-of-pocket expenses.
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Engine Protection
Your car’s engine is highly vulnerable to issues, such as oil leakage, water ingression, and lubrication failures. An engine protector add-on helps you recover expenses related to engine repairs or replacement after such incidents.
Without this add-on, these costs are typically excluded from a standard motor insurance policy. For drivers living in flood-prone zones or areas with heavy rainfall, this add-on becomes a crucial thing.
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Return to Invoice (RTI) Cover
In case your vehicle suffers a total loss or is stolen, the insurer usually pays the current market value of the car. Unfortunately, this amount is often lower than what you originally paid because of depreciation rates set by the IRDAI.
The RTI cover fills this gap by compensating you with the vehicle’s invoice value. Opting for this add-on on top of your motor insurance policy provides peace of mind, particularly during the early years of your car’s ownership.
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Consumables Cover
Consumables such as lubricants, brake oil, nuts, grease, oil filters, and engine oil contribute significantly to repair costs during accidents. A standard motor insurance policy usually does not cover these expenses.
Adding a consumables cover ensures that these items are included in the claim, reducing your financial burden. This add-on becomes extremely useful for extensive repairs where consumables form a considerable portion of the total cost.
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24×7 Road Side Assistance
Breakdowns can happen anytime due to any reason, from a flat tyre or a battery issue to an empty fuel tank or mechanical faults. With round-the-clock roadside assistance, you can access towing, minor repairs, tyre replacement help, and fuel delivery whenever you need it.
This add-on makes sure that you never feel stranded on highways or unfamiliar roads. For frequent travellers, a motor insurance policy with this add-on is a must-have for stress-free journeys.
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No Claim Bonus (NCB) Protector
Each claim-free year earns you a No Claim Bonus, reducing your premium during renewal. This can provide you with up to a 50% discount on the own damage part of your insurance premium. However, even a single claim can wipe out this accumulated benefit.
With an NCB protector, you can preserve your bonus even if you claim during the policy period. This feature helps you save when you renew car insurance policy yearly. It is highly valuable for long-term financial planning.
Bottom Line
Add-ons significantly enhance the protection offered by your comprehensive motor insurance policy. Choosing the right combination of add-ons ensures maximum financial security, convenience, and peace of mind every time you take your vehicle on the road. So whenever you renew your car insurance policy, analyse and customise your protection to strengthen your overall coverage.