New Delhi. It is mandatory to take motor insurance while buying a car. Gurdeep Batra, Head, Retail Underwriting, Bajaj Allianz General Insurance, said that often people forget to take the necessary add-ons while getting insurance, due to which the policyholders do not get the full claim in case of accident, damage to the vehicle. 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. In this, the on-road price of the car is paid.
Engine Protection –
This add-on prevents incidents like water entering the car engine, damage to the gearbox, damage to the hydrostatic lock. It allows claiming the cost of replacing or repairing the engine, its parts such as cylinder head, piston, crankshaft, connecting rod.
Consumable cover –
Consumable components of the car like lubricants, engine oil, brake oil, nuts and bolts, oil filter are excluded under motor insurance policy. The cost of replacement of these parts has to be borne by the vehicle owners during the accident claim. Consumable cover protects against such losses.
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