Cholamandalam Car Insurance Add on Covers

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A car insurance add-on covers are supplementary covers that an owner of the car can acquire to boost his or her automobile's coverage level under his or her car insurance policy. The Cholamandalam car insurance add-on covers online enable automobile owners to enhance their vehicle's financial protection beyond the normal policy coverage. As a result, the provisions of a vehicle insurance policy provide coverage to the insured four-wheeler.

Cholamandalam car insurance add-ons online are not free because they provide additional coverage for an insured vehicle. Under his or her vehicle insurance policy, a car owner needs to pay an additional premium to buy car insurance add-on coverage. As a result, adding add-on coverage to your car insurance policy raises your prices.

7 Important Cholamandalam Add-on Covers for Your Car Insurance Policy

We now understand the importance of having a strong immune system due to the ongoing crises. Have you considered immunity for your vehicle as well? Yes, you read that correctly. You put your car at a higher risk when you get basic third-party insurance. Even comprehensive auto insurance can not always provide complete coverage for your vehicle. This is where the use of add-on covers comes into play. We understand that the expense of these add-ons concerns you, but what if we told you that they are well worth the investment?

Here are some of the Cholamandalam car insurance add-on covers that will help you save money.

Zero Depreciation Cover

One of the most prominent add-on covers is this one. It is a well-known reality that the value of your car depreciates with time. This is due to the car's age and wear and tear. If your car is met with an accident, the depreciation will be factored into the compensation. You can claim damages without taking into account depreciation if you add a zero-depreciation add-on policy. This keeps you from paying for repairs out of your wallet.

Hydrostatic Lock Cover

Floods have occurred in various places of India in recent years due to excessive rains. Water could get into your car's engine, gearbox, and differential, causing a hydrostatic lock. A hydrostatic lock cover protects the engine and other components from harm caused by waterlogging. This is perfect for folks who have just purchased a new car and live in a flood-prone location.

Consumables Cover

Consumables are items that cannot be reused in the automotive industry. Some of the items are engine oil, lubricants, oil filter, bearings, nuts & bolts, air filter, and other items. A normal car insurance policy doesn't cover consumables. You can avoid paying additional costs during repairs if you have a consumable cover. You should consider purchasing consumables coverage if you own a luxury car because consumables are often expensive.

Return-to Invoice Cover

So far, we've discussed damages. But what happens if your automobile is stolen or totalled? Isn't it terrifying? Return-to Invoice (RTI) coverage comes to the rescue in this situation. If you choose RTI coverage, you will receive the original/in-voice purchase value of your automobile if it is stolen or destroyed beyond repair.

No Claim Bonus Cover

If you have not claimed in a year, your insurer will give you a no-claim bonus (discount) on your premium. However, you won't be able to get the discount in your premium once you raise a claim. But with NCB protection cover, even if you make a claim, you will get the discount. 

Roadside Assistance Cover

Insurers provide round-the-clock services to their customers during emergency scenarios such as a breakdown or an accident under roadside assistance (RSA) coverage. In such scenarios, you can contact your insurer for assistance. The insurer will notify and help the nearest network garage.

EMI Cover

With an EMI cover, the insurance provider will pay the car's EMI on behalf of the policyholder. If the policyholder cannot make a payment, this is quite advantageous. However, several criteria and conditions must be met.

Now that you know how important Cholamandalam Car Insurance Add-ons are, you may select them depending on your risk exposure.

Cholamandalam Car Insurance Add on Cover FAQs

  • 1. Is the Cholamandalam zero depreciation add-on applicable to engine parts?

    No, the zero depreciation add-on cover doesn't provide engine damage coverage. The Engine add-on is required to protect your car's engine from loss or damage.

  • 2. What is the Cholamandalam licence loss cover add-on?

    If you lose your driver's licence, this add-on will reimburse you INR 500 for obtaining a duplicate licence.

  • 3. What is the Cholamandalam key replacement add-on?

    At the time of a theft or burglary claim, this add-on covers the cost of replacing the car's lock and keys.

  • 4. What is an EMI cover add-on in car insurance policies?

    If the insured car is damaged, this add-on will cover the EMI due to the financial institution for the loan you took out to purchase the vehicle.

  • 5. What is a daily cash allowance add-on in car insurance?

    If you make a claim and your car is being fixed, this add-on will provide you with a daily cash benefit of INR 500 or INR 1000 (depending on your preference) for the time your car is being repaired.

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