Add on covers one can consider while buying motor insurance.

Add on covers such as cover for depreciation on parts, cover for consumables, Return to Invoice are relevant for financial protection in case of a loss. Though each add on cover comes at an extra cost, the coverage for vehicle in case of accident is also wider.

Zero depreciation:This cover pays the amount of depreciation deducted on value of parts replaced in the event of claim which otherwise would not been paid under basic motor insurance policy

Consumable Expenses: This covers cost of consumables required to be replenished arising from an accident to the vehicle.

Return to Invoice: This cover pays for the financial shortfall between selling price and insured declared value (IDV) of the vehicle. IDV is the maximum amount which an insurer shall pay in event of theft or total loss of the vehicle. IDV is arrived deducting depreciation from selling price of the vehicle basis age of the vehicle. In addition, amount spent on registration fee, road tax are also covered.

All of the above covers are only some of the add on features one can avail, and several other add on covers specific to vehicle owners need such as key protect cover, engine protector, daily conveyance benefit etc. can be availed.

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