The monsoon poses significant risks to vehicles, especially in areas prone to heavy rainfall and waterlogging. The risks increase for vehicles with low ground clearance. It is essential to have a comprehensive motor policy, not just a third-party cover, as the latter does not protect your own vehicle. But while a comprehensive cover will protect you against accidents, theft, and third-party liability, it may not cover you for monsoon-related damages. To avoid bearing these costs yourself, it is advisable to purchase a few add-on covers.
Engine protection cover
While traversing a flooded road, water can enter the engine, causing substantial damage. This is usually not covered by comprehensive policies. To get this coverage, customers need to buy the engine protection cover.
“This add-on cover offers financial protection for repairing or replacing the engine and its components if they are damaged by water intrusion or hydrostatic lock,” says Subhasish Mazumder, head-motor distribution, Bajaj Allianz General Insurance.
The cost of engine repair in such circumstances can at times run into lakhs. Amit Bhandari, chief technical officer, Magma HDI General Insurance, says that apart from the core engine, damage to ancillary parts such as the gearbox is also covered.
Gaurav Arora, chief-underwriting & claims property & casualty, ICICI Lombard said that the price of the engine protection cover depends on the Insured Declared Value (IDV) of the vehicle and a few other factors. Electric vehicle owners should get a battery protection cover.
Zero depreciation cover
Typically, when settling a comprehensive policy claim, the insurer compensates for the depreciated cost of parts. “An amount is deducted from your claim to account for the vehicle’s wear and tear, as outlined in the policy document,” says Mazumder.
The customer bears the difference between the depreciated and replacement cost. “A zero-depreciation add-on, also called bumper-to-bumper cover, gets you the full claim amount without any deduction for depreciation,” says Nitin Kumar, head-motor insurance, Policybazaar.com.
Roadside assistance
This add-on is especially useful if your vehicle gets stuck on a water-logged road.
“It provides on-site repair, towing, alternative travel facility, fuel procurement support, etc.,” says Arora. An extra battery could be provided or a flat tyre repaired under this cover.
M Barve, founder, MB Wealth Financial Solutions warns that arranging for towing can be difficult if it is raining heavily and you don’t have this add-on. Arora informs that the price of this add-on can range from Rs 199 to more than Rs 1,000, depending on the plan. Some insurers offer free roadside assistance to women for a year. “They should renew it without fail,” says Barve.
Tyre protection
Heavy rains often damage roads, which in turn damage the tyres. “The tyre protection cover provides coverage for repairing or replacing tyres damaged due to cuts, bursts, or bulges,” says Mazumder.
Bhandari says this cover is essential for those who travel frequently on rough terrains and poor roads.
Don’t force-start vehicle
If your car gets stuck on a waterlogged road, exit it and call for help. “Customers should not start the vehicle in inundated condition,” says Arora. Doing so can damage the engine further. Barve warns that if you try starting the vehicle after the engine has got flooded, your insurer may not cover the consequent damage. Kumar suggests waiting for the water to recede and allowing the engine to dry up before starting the vehicle. (Source: Business Standard)
