3 Car Insurance Add-Ons to Consider for an Older Vehicle

 

As per the Motor Vehicles Act, 1988, it is mandatory for every vehicle to have at least basic car insurance. This basic coverage refers to a third-party car insurance policy. However, it makes sense to go a step ahead by opting in for comprehensive coverage, including add-ons, to holistically protect your finances in the event of a mishap or calamity that sees you and your ride suffer damages. A trend shows that many motorists who have older vehicles (aged 5 years or older) often do not see the point of opting in for comprehensive coverage. Yet, this is a big mistake and can cost you heavy. If you have an older vehicle, you do need to protect it with comprehensive car insurance coupled with smartly chosen add-ons.

Most vehicle insurance providers offer car owners a long list of add-ons to choose from. This exhaustive list is indeed a boon but might also make for a difficult choice when it comes to covering a car that has aged a few years. You might wonder if there are certain add-ons better suited to your older car. After all, you would not want to be left underinsured and neither would you want to pay for something you will not use. To ensure you get exactly what you need, here are 3 car insurance add-ons to consider for an older vehicle.

      1. Engine protection cover

Most vehicle owners are shockingly unaware that a motor car insurance policy plan does not offer coverage for the engine. So, any damage to the engine – such as gearbox damage - can truly cost you a fortune in repairs. It is recommended that every vehicle has the engine protection cover add-on in place to supplement their coverage. This add-on is especially essential if you live in an area that sees problems of waterlogging every monsoon.

      2. Roadside assistance

An older vehicle may suddenly give up on you in the middle of nowhere and getting assistance may prove to be a challenge. With this add-on, your insurance company helps you transport your car to the nearest service center and also arranges a taxi for you and your passengers. Such assistance can prove to be a life-saver! Do check with your insurance company the distance limits applicable for this add-on.


      3. Consumables cover

When your vehicle undergoes repairs, the consumables such as bearings, coolant, engine oil, nuts and bolts need to be paid for by you. These can total up to cost quite a bit, depending on the extent of repairs needed. So, it is best to opt in for this add-on and let the insurance company lift the burden of carrying these expenses.

Finally, never let your car insurance lapse. The road is an unpredictable place and your insurance is your best bet at keeping your finances safe should the unforeseen occur. Take your time to read the terms of the policy and choose the plan that suits you the best. Drive safely. 

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