Page 45 - The Insurance Times August 2024

FEATURE

Engine protection: Must-have in areas

prone to heavy rains

T he monsoon poses significant risks to vehicles, The customer bears the difference between the depreciated
and replacement cost. "A zero-depreciation add-on, also
especially in areas prone to heavy rainfall and
waterlogging. The risks increase for vehicles with
called bumper-to-bumper cover, gets you the full claim
low ground clearance. It is essential to have a
Kumar, head-motor insurance, Policybazaar.com.
comprehensive motor policy, not just a third-party cover, as amount without any deduction for depreciation," says Nitin
the latter does not protect your own vehicle. But while a
comprehensive cover will protect you against accidents, Roadside assistance
theft, and third-party liability, it may not cover you for This add-on is especially useful if your vehicle gets stuck on
monsoon-related damages. To avoid bearing these costs a water-logged road.
yourself, it is advisable to purchase a few add-on covers.
"It provides on-site repair, towing, alternative travel facility,
Engine protection cover fuel procurement support, etc.," says Arora. An extra
While traversing a flooded road, water can enter the battery could be provided or a flat tyre repaired under this
engine, causing substantial damage. This is usually not cover.
covered by comprehensive policies. To get this coverage, M Barve, founder, MB Wealth Financial Solutions warns that
customers need to buy the engine protection cover. arranging for towing can be difficult if it is raining heavily
and you don't have this add-on. Arora informs that the price
"This add-on cover offers financial protection for repairing
or replacing the engine and its components if they are of this add-on can range from Rs 199 to more than Rs 1,000,
depending on the plan. Some insurers offer free roadside
damaged by water intrusion or hydrostatic lock," says
assistance to women for a year. "They should renew it
Subhasish Mazumder, head-motor distribution, Bajaj Allianz
without fail," says Barve.
General Insurance.
The cost of engine repair in such circumstances can at times Tyre protection

run into lakhs. Amit Bhandari, chief technical officer, Magma Heavy rains often damage roads, which in turn damage the
HDI General Insurance, says that apart from the core tyres. "The tyre protection cover provides coverage for
engine, damage to ancillary parts such as the gearbox is also repairing or replacing tyres damaged due to cuts, bursts,
covered. or bulges," says Mazumder.
Gaurav Arora, chief-underwriting & claims property & Bhandari says this cover is essential for those who travel
casualty, ICICI Lombard told that the price of the engine frequently on rough terrains and poor roads.
protect cover depends on the Insured Declared Value (IDV)
of the vehicle and a few other factors. Electric vehicle Don't force-start vehicle
owners should get a battery protection cover. If your car gets stuck on a waterlogged road, exit it and call
for help. "Customers should not start the vehicle in
Zero depreciation cover inundated condition," says Arora. Doing so can damage the
Typically, when settling a comprehensive policy claim, the engine further. Barve warns that if you try starting the
insurer compensates for the depreciated cost of parts. "An vehicle after the engine has got flooded, your insurer may
amount is deducted from your claim to account for the not cover the consequent damage. Kumar suggests waiting
vehicle's wear and tear, as outlined in the policy document," for the water to recede and allowing the engine to dry up
says Mazumder. before starting the vehicle. (Source: Business Standard)

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