Car owners simply purchase car insurance because it is required and fail to read the fine print, even when the policy is up for renewal.
However, if you don't read your policy document, you'll never know if you're missing any of the essential perks and features of the coverage.
You probably consider your car your pride and joy and spent months choosing it after careful consideration, study, and financial planning. Why would you forego carrying out the same research regarding safeguarding your vehicle? Car insurance is an umbrella to shield your vehicle from unforeseen risks and damages.
List of Things You Didn't Know Car Insurance Includes
Ensure you get the most out of your car insurance policy and avoid overlooking any important details. Here are some details concerning your car insurance coverage that you may have overlooked:
Your Insurance Covers More Than Just Accidents
Many believe car insurance is only necessary when your vehicle sustains damage or suffers losses due to collisions. However, a car insurance policy protects much more than that!
In contrast to third-party car insurance, which only covers harm you may cause to others or their property, comprehensive car insurance protects your vehicle from theft, fire, natural disasters, and other losses and damages.
With a Zero Depreciation Cover, You Can Save More
Your car's worth decreases with time due to wear and tear. It is believed that a brand new car has lost 5% of its value the moment it leaves the showroom!
When determining the claim settlement amount for repairs or replacement, your insurance company will not consider the depreciation of your vehicle's value and its parts if you purchase a zero depreciation car insurance add-on.
No-claim Bonus
An car insurance company will give a no-claim bonus (or NCB) to customers who have not filed a claim in the previous year.
Therefore, the insurance provider will reward you with a reduction in your rate at the time of renewal if you have been driving carefully during the policy year.
This no-claim bonus discount rises yearly without a claim and varies from 20% to 50%. Remember to drive cautiously when considering how big of a difference this decrease might make on your premium.
Some insurers even offer a no-claim bonus protection car insurance add-on to your policy to guarantee that your NCB will still be valid even if you file a claim.
Your NCB Can be Transferred
You don't have to forfeit your NCB)if you have a plan to upgrade your vehicle and your current car has accrued one. This can be applied to your new vehicle. Even if you want to transfer your car insurance policy, you can apply your existing NCB to the new car insurance coverage.
Cover for the Towing Cost
When your car breaks down or is involved in an accident, especially in rural or crowded regions, mechanics may charge expensive fees to tow it to a garage.
However, did you know that most car insurance companies typically offer free towing assistance up to a particular sum or distance when you purchase a comprehensive plan?
So, take advantage of this perk the next time your car breaks down by contacting your car insurance company.
You Will Benefit from Quick and Paperless Renewals
You might assume that any process involving documentation will be drawn out and time-consuming. However, many insurance companies now provide quick and straightforward online renewals for your car insurance, requiring little to no paperwork and no filling out challenging forms. Just a few details, such as policy number and bike registration number, and you are good to go!
Get Your Car Accessories Covered Too
Most car insurance policies only cover the car, not any extras or changes you may have made to it if it is destroyed or lost in an accident. However, if you let your insurer know about these new accessories, they will also be covered. While this may raise your premium, it will still be less expensive than purchasing an entirely new set of accessories.
Guard Your Engine as Well
The cost of having your engine fixed or even replaced for any reason unless it was due to an accident, can be high and is not covered by a typical policy. The engine protection add-on, however, will protect you even if your car's engine stalls because of an oil leak or water intrusion.
Read more - Engine Protection Cover Benefits in Car Insurance
Even Your Missing Keys Can be Replaced
It cannot be comforting to lose your car keys. However, if you have a breakdown assistance add-on plan, you can obtain aid in getting your backup set of keys delivered to you and assist with towing your car.
Or you may even ask for assistance to unlock the vehicle and remove the keys if you accidentally lock them inside.
Conclusion
You may drive confidently and ensure financial security with a reliable car insurance plan. These plans cover all responsibilities resulting from harm, demise, or property damage to third parties. Policies also offer protection against riots, fires, thefts, explosions, and other acts of God, among other things, in addition to accidents. Roadside help in the event of a breakdown, extra keys if the original set is lost, etc., are additional perks. Take your time, shop around, and make a wise decision. Keep in mind the considerations above as well.
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