Motor insurance without Add-Ons offers basic protection, but is it enough? Doctors led busy lives, traveling between hospitals, clinics, and emergencies. In those critical moments, a standard motor insurance policy might not provide sufficient coverage. That’s where motor insurance add-ons come into play, offering essential benefits that protect you in situations where basic insurance falls short.
What Are Motor Insurance Add-Ons?
Motor insurance add-ons are extra coverage options that enhance your basic insurance policy. By spending little additional premium, these add-ons provide customized benefits to meet the unique needs of vehicle owners especially doctors who are often on the move. While motor insurance generally covers accidents, theft, and third-party liabilities, these might not be sufficient for professionals with demanding schedules. Imagine rushing to an emergency, and something unexpected happens. Are you covered?
Types of Motor Insurance
Motor insurance is broadly categorized into Third-party insurance and Comprehensive insurance.
- Third-party insurance: This insurance plan is mandatory as per IRDIA regulations and covers damages caused to others in case of an accident involving your vehicle. However, it doesn’t cover damages to your own vehicle. So, if your vehicle is involved in an accident while you’re rushing to an emergency, who will cover the damage to your car?
- Comprehensive insurance:Comprehensive insurance policy offers more extended protection, covering both third-party and own vehicle damages. But even this policy has limitations. It may not cover wear and tear, engine failures, or personal belongings left in the car. For doctors, whose schedules are unpredictable and vehicles often expensive and important for daily purposes, comprehensive insurance alone might not be enough. This is where add-ons make all the difference.
Why Doctors Need Motor Insurance Add-Ons
As a doctor, your time is precious, and your vehicle is often more than just a means of transportation; it’s a lifeline that helps you reach for those in need. Ensuring that your vehicle is sufficiently protected with the right Add-Ons provides you peace of mind, so that you’re never left helpless when the duty calls.
According to the Press Information Bureau (PIB), India witnessed 4,61,312 road accidents in 2022, resulting in 1,68,491 fatalities. This data highlights the critical need for comprehensive vehicle protection. While third-party insurance is compulsory, it’s the comprehensive policy that ensures your own protection. However, even comprehensive policies have gaps that could leave you financially vulnerable in specific scenarios. For doctors, who often overlook policy details due to their busy schedules, add-ons are essential to ensure complete coverage.
Must-Have Motor Insurance Add-Ons for Doctors
The insurance industry continually grows to offer better protection. Here are some essential add-ons doctors should consider for their motor insurance:
- Engine Protection: This Add-On covers engine damage which may happen due to waterlogging in the engine or due to some mechanical failures.
- Roadside Assistance: Another useful Add-On in motor insurance which offers emergency help like towing, fuel refills, and flat tire repairs. This Add-On is ideal for doctors who are often on the move.
- Return to Invoice (RTI): Another important Add-On return to invoice which protects in case of total loss or theft, this add-on reimburses the full invoice price of your car.
- Key Replacement: This Add-on gives the protection if you lose your vehicle keys somewhere or on the go? This covers the cost of replacing them.
- Personal Belongings: Under this Add-On offers compensation if personal items like laptops, phones or any wearable items are stolen from your vehicle.
Where to Get the Best Motor Insurance Add-Ons for Doctors
At CoverYou, India’s leading Insurance Broker specifically dedicated for doctors. We offer customized motor insurance plans that cater to the unique needs of medical professionals. CoverYou is backed by 75+ medical associations and has consulted over 5,00,000+ doctors nationwide. CoverYou understands the busy lifestyle of doctors. Our customized add-ons ensure that you’re covered for every possible scenario so you can focus on saving lives without worrying about your vehicle.
Customized Add-Ons for Doctors by CoverYou.
- Roadside Assistance: Whether it’s a flat tire, key lockout, or a drained battery. Our 24/7 roadside assistance will get you back on track without compromising your No Claim Bonus (NCB).
- Zero Depreciation: We offer zero depreciation coverage for vehicles up to 10 years old, ensuring bumper-to-bumper protection. All parts are covered at 100%, except for tires, tubes, and batteries, which are covered at 50%.
- Invoice Cover (Return to Invoice): In case of theft or total damage, we cover the full value of your vehicle, including ex-showroom price, registration, and road tax within 5 years of vehicle registration.
- Engine & Gearbox Protection: As we all see the changes in climate day by day we customized the policy for our guardians, we coverwater damage and other mechanical issues caused by unpredictable weather.
- Loss of Personal Belongings: Whether it’s a laptop or an wearable item like jewelry, we are ready to give our life savers compensation for items if stolen from the vehicle.
- Passenger Cover: Under this Add-On we protect the passenger in your vehicle in case of an accident including death, permanent disability, or serious injury.
- Paid Driver Cover: This Add-on ensures financial protection for your driver, covering medical expenses and compensation under the Workmen’s Compensation Act.
