Monsoons cause a lot of vehicle troubles and it is always advisable to be prepared before the rains sets in. One not only needs to be extra cautious while driving but must make sure their vehicle is adequately secured against all possible damages. It is also good to know what is covered and not covered under the insurance policy to avoid dispute in case of a claim. Besides, today insurance companies are offering many add on covers and services to minimize the gap and ensure a smooth claim settlement services.
- Comprehensive Car Insurance Policy:
Make sure you have a comprehensive car insurance policy and not just a Third Party Cover for your vehicle. A comprehensive policy ensures cover against damages due to natural calamities such as floods, earthquakes, cyclones etc.
2. Know your exclusions
Two very common damages occur due to heavy rain and inundations. If the vehicle is submerged in the water for a long period, it can cause partial or total loss to the engine as well as impact the sensors, interiors and accessories. Your comprehensive insurance policy does not cover the additional accessories (ones that do not come with the vehicle) that you might have added. It also does not cover the consequential damages to the engine like the hydrostatic lock.
3. Mistakes to Avoid
Do not try to restart or crank start your vehicle if it is submerged in water unless the water is completely drained out. This can lead to a hydrostatic lock and damage the engine and the cost to repair this damage is anywhere around Rs 1 to 2 lakh. This consequential damage is not covered under the comprehensive policy unless you have a rider that protects against such damages to the engine. In case the vehicle stops in a waterlogged area, do not try to restart the vehicle as you may damage it further. Instead call your insurer for help.
4. Must-have add-on covers
- Engine Protect – This rider covers the cost of repairing damages to the engine including consequential damage such as hydrostatic lock. If you do not have this add on cover, the insurance company will not pay for the damage caused due to driving in a waterlogged area or trying to start a vehicle that is submerged in water. It will hold the vehicle owner negligent.
- Zero-Depreciation Cover – When settling a claim, the insurance company considers the depreciated value of parts depending on the age of the vehicle. This add on cover ensures that you get the full amount for the damaged parts.
- Road Side Assistance Cover – In case your car breaks down on the road, this cover will help you get immediate assistance and you can get the car towed to the nearest workshop.
- Accessories Cover/Electronic Circuit Cover – A comprehensive car insurance policy does not cover all accessories in the car. Hence this add on cover ensures that all accessories in your car are covered against any damages during monsoons.
5. Things you should be aware of to ensure a seamless claim settlement experience.
- Claims can be easily registered online via mobile apps or websites apart from call centres.
- Insurers today are accepting digital documents. One can upload the claim form and vehicle-related documents easily using the insurer’s mobile/online platforms. This minimizes the hassle of paperwork.
- Online Inspections – Digital interfaces and apps now allow you to click pictures of the damages and upload them on the insurer’s platform or allow insurers to conduct an online video claim inspection bringing down the claim settlement TAT.
- Self-service apps are made available by many insurance companies that empower the customer to manage their claim directly. This is very helpful in case of minor damages and smaller claim amounts thereby reducing the dependency on a third party i.e. the surveyors. You can click photos/videos of the damages and upload them on the insurance company’s digital platform along with the required documents, the company will assess the claim in real-time, send you their assessment and if you are ok with the claim amount, will transfer the amount instantly.
(Chandni Arora is a Jodhpur-based writer, who writes on Insurance, culture and lifestyle.)
