Picture this, you are riding or driving your vehicle, and someone comes and hits your vehicle from the rear end. The chances are high that it leads to a heated argument which eventually settles into the responsible party paying for the damages. If it were your mistake and you hit another vehicle, under normal circumstances, you wouldn’t argue in that scenario. Well, most people won’t. Or if you were to brush your car with one of the pillars during parking, there won’t be anyone around to have an argument with. Thus, there are certain Vehicle Insurance Riders that you should choose.
In either of the cases, if you are safe, the car has undergone some damages. Irrespective of who was at fault, the repairs are imminent. The standard practice would be to visit a service center and ask for a quote. And that is when things can get a bit tricky if you do not have a car insurance. Repairs for vehicles aren’t cheap by any margin.
Accidents can be Expensive
A minor scratch on your car’s bumper can set you back by anywhere between INR 3000-6000. If you ride a mid-range bike, a change of the headlight assembly might cost you around INR 12,000. Paying such amount from your pocket just doesn’t make sense when someone else is willing to pay the same. When you buy a vehicle insurance, the insurer takes care of any such incidents and the repair bills.
So, the first and foremost step is to go ahead and buy a vehicle insurance if you do not already have it. Also, the Motor Vehicles Act of 1988 mandates all vehicles on the road to have a valid third-party car insurance. Thus, not having a vehicle insurance can land you into more trouble than you think.
However, there are certain scenarios where you do have a vehicle insurance but feel it is not adequate. What would a policyholder do in such cases? Well, the simple answer is riders. Riders are additional features and benefits that you can associate along with your vehicle insurance by paying additional premiums. But there are lots of insurance riders to choose from, which ones should you pick? We will help you out with the same.
The Most Sensible vehicle insurance Riders that you should choose
Here is a list of some of the most sensible riders that you can opt for your vehicle. It is recommended that you assess your situation and pick up a rider that best suits your needs. Rather than listening to some agent or getting a rider that your friend has. Another important thing to keep in mind is that most of the riders are available only in a comprehensive insurance and not third-party insurance.
Zero Depreciation: Zero-depreciation rider or No-depreciation rider is one of the most popular amongst all and there are compelling reasons for the same. Though a comprehensive policy covers a lot more than a third-party policy, is it not devoid of depreciation. When you claim your vehicle insurance, insurers usually consider the depreciated value of the replacement parts and not the current value. Essentially, you will end up paying the additional money from your pockets. A zero-dep cover ensures that the insurer pay the entire amount and not just the depreciated amount.
Roadside Assistance: It might happen to anyone at any point in time. Your vehicle might break down or refuse to start or might run out of fuel or might need a jump start. Irrespective of what the reason is, you can get stuck in the middle of the road. To avoid such confrontations, having a roadside assistance cover can make things easier for you. You simply need to call your insurer or RSA vendors at such times and they will offer you with immediate assistance and even towing service, should there be a need for the same.
Personal Accident Cover: In a country like India, road accidents are all too common. How often has it happened that we come across accidents on the road that can take lives or cause serious injury to the driver and passengers? While a personal accident cover cannot prevent such accidents but can offer some compensation at such times. The rider will come in handy in the case of accidental death, permanent temporary disability or temporary disability.
Having an appropriate kind of vehicle insurance riders are as important as having the right kind of vehicle insurance. When you set out to renew your vehicle insurance or buy a new one, make sure that you go through vehicle insurance Riders that you should choose.