Coverage under Comprehensive Car insurance
Damage caused or loss occurred due to natural calamities like floods or earthquakes or manmade reasons are also covered under the comprehensive car insurance policy offered by various companies. Major natural reasons include – typhoon, lightning, storm, hurricane, inundation, tempest, cyclone, frost, hailstorm, rockslide, and landslide.
However, man-made factors such as burglary, riot, theft, strike, and accident by external means, malicious act and terrorist activity, damages in transit by rail, road, lift, elevator, inland waterway, or air are included in the policy agreement.
Many policies offer extended coverage against other types of assistance for the vehicles, Apart from the basic damage and loss coverage.
However, the premium amount of the policy increases accordingly. Following are some of the additional benefits or add-ons that one can opt from for their car insurance policy-
Zero Depreciation Cover:
As the vehicle wears and tears gradually, depreciation is the reduction in the price of the vehicle over the years.
Therefore, many insurance companies protect the policyholders from the loss of depreciation and allow you to claim the amount for deprecation by replacement or repair of the damaged car part.
NCB Retention Cover:
NCB or no claim bonus is a reward to the policyholder for not making any claim in the policy for over a year. Also, one can get up to 50% discount by accumulating NCB over the period of 5 years.
So, those policyholders who have made even a single claim cannot claim the NCB.
This is where the NCB retention cover comes into effect where owners can claim under pre-defined limits which do not have any effect on the NCB for the specified duration.
Coverage against Damage or Loss:
A type of policy called a comprehensive car insurance plan covers the third party liabilities of the policyholder in case of an accident that leads to death or disability or injury to any third party or damage to any third party property.
Road Side Assistance:
Coming along with the comprehensive car insurance policy, this adds-on feature rescues you when your vehicle gets stranded or faces an accident or is unable to move due to mechanical or electrical issues in the middle of a remote area.
It offers services like towing, jump start of a battery, fuel re-fill, and service by mechanics.
Daily Cash Allowance:
While the policyholder has given their vehicle on service and the car company keeps the insured vehicle for more than the intended time period, the policyholder can claim cash for transportation and commuting through the add-on cover called daily cash allowance.