First-time car insurance buyer’s addon guide.

Team Digit, 15 Feb 2019

The thumb rule for a first-time car buyer- ‘Always expect the unexpected’.

Leave alone first-time car buyers, even avid drivers do not realize the importance of a good car insurance policy or the add ons until it’s too late.

Most consider car insurance add on to be just another ‘supplement’ of the RC book which, if updated, at most can keep cops at bay and avoid fines- Right? Wrong!

The yearly premium you pay is just a meager sum when compared to the advantages it has to offer you in case of, god forbid, any mishap.

Here’s yet another misconception many car buyers have - Car insurance add ons cover only the ‘car’. Wrong again!

Insurance policies today cover your car, yourself and even that chocolate bar that was stolen from your car. Well almost!

For hassle-free happy motoring, read on…

First and foremost, let’s get to know the types of Car Insurance Policies.

By and large there are two types of car insurance (We’ll get to the mouth-watering perks in our ‘Add-ons’ section a little later). Now, read on 😊

1)  Comprehensive: If your first car happens to be a ‘sparkling new car’, it comes with this ‘premium insurance’ as default, valid up to one year from the date of purchase. And as the name suggests, it’s the ‘complete package’ that covers any damage to the vehicle, it’s occupants and the ‘third party’, in case of any mishap.

The only downside of comprehensive insurance is the premium you have the pay every time you renew your insurance. Never the less, the premium you pay is well worth it.

2)  Third Party: Unlike comprehensive insurance, third party insurance does not cover you, your car or yourself. As the name suggests it covers the insurance of only the ‘third party’ in case of any mishap.

Absolutely ‘NO’ add-ons here. You’ll have to just go get yourself another chocolate bar! 

The only upside of third party insurance is that renewal comes at 1/4th the price of comprehensive insurance. Else, It’s comprehensive all the way!

Ok, enough said, now it’s time for the ‘Chocolatey’ part of Car Insurance- Add-ons 😊

Welcome to the sweetest part of your car insurance policy:
As the name ‘add-ons’ suggests, most, if not all car insurance companies give you a platter of ‘additional benefits’ that can be added to your insurance policy.

You have the freedom to choose and pick from them according to your requirements. Or shall we say just say, just pick the one’s that suit your taste!

Tips on add-ons: These perks are valid for comprehensive insurance ‘ONLY’! And, not to mention, comes at an additional cost. But trust us, it’s well worth it if you pick the right ones.             

Zero Depreciation: Age comes with its drawbacks. The same applies to your car. The older it gets, the more the value of your car drops aka ‘depreciates’. But, not to fret, this add-on ensures that the value of your car will remain as valuable as the day you bought it. After all the insurer will not consider depreciation during final settlement!

Tip: This add-on is beneficial for those who decide to keep their car for a long period of time.

Roadside Assistance: How do you fancy your car breaking down on a lonely dacoit-infested road at the stroke of midnight? Fear not, roadside side assistance is there to rescue. All you need to do is give us a call and we’ll come to the spot and repair your car. If not possible, we will tow it to the nearest service station. At least you’ll be dacoit-free 😊

Tip: This add-on makes a lot of sense if you often go on long drives- More chances of getting stranded in the middle of nowhere.

Return to Invoice: This is probably a driver’s worst nightmare- when your car is destroyed beyond repair! In other words, totaled in an unimaginable mishap. Thankfully there’s some conciliation is such extreme cases. Insurance companies will refund the complete value/amount mentioned on the invoice. That said, ‘DRIVE SAFE’.

Tip: This add-on is a must-have for all drivers, especially the first-time car buyer and driver.

Consumable Cover: Now days, insurance companies even cover your vehicle service costs, from the new engine oil put in to your vehicle right to that missing nut on your engine cover.

Tip: An add-on most suited for that knit- picky car insurance buyer😊

Tyre Protect Cover: Most people think that tyre damage is covered in a standard package policy, sadly it is not, unless it happens at the same time an accident occurs. So, to cover common scenarios where an accidental damage happens to only your tyre and not the car, you need this addon. It covers damages like tyre bursts, bulges or cuts, which make the tyre unfit for use.

Tip: This addon is super handy as tyre bursts are the most common car mishaps!

Passenger Cover: We hope this never happens but if something happens to the owner driver of the car, in an unforeseen incident, this cover is a fall back. So, not only is your car entirely protected, but also everyone who are travelling with you!

Tip: Addon that ensures your loved ones are safe and sound

*Sorry, that doesn’t include that bar of chocolate though!

But jokes apart, since your Car Insurance has almost everything covered, the least you can do is buy another bar of chocolate 😊

And if you want to know everything about your car insurance, read this!

 

Team Digit

Digit is a General Insurance company on a mission to Make Insurance Simple for people. We are backed by Fairfax, one of the largest insurance companies in the world.

Interested to Buy Car Insurance from Digit?

Get Free Quote

Subscribe for updates