With many parts of India currently facing intense rainfall and subsequent flood-related vehicle damages, having the right insurance coverage is crucial. A comprehensive insurance plan offers broader protection compared to third-party covers, which do not safeguard against natural calamities like floods, storms, cyclones, or earthquakes, emphasizes Nitin Kumar, Head of Motor Insurance at Policybazaar.com.
Subhasish Mazumder, Head of Motor Distribution at Bajaj Allianz General Insurance, underscores the importance of additional add-ons to enhance vehicle protection. These include:
Engine Protection Cover: Essential for safeguarding against water entering the engine during floods, which can cause significant damage.
1. Consumables Cover: Covers costs for items like engine oil and lubricants, typically not included in standard policies.
2. Nil Depreciation Cover: Ensures full claim amounts without depreciation deductions on car parts.
3. Tyre Protection Cover: Covers repair or replacement costs for damaged tyres due to waterlogged roads.
4. Roadside Assistance Cover: Provides immediate help in case of breakdowns, crucial during monsoons.
Mazumder advises precautions such as avoiding immediate vehicle startups post-water ingress, waiting until water recedes, and parking in safe, covered areas to prevent further damage. Immediate notification to insurers in flood-affected scenarios ensures a smoother claims process.
For Electric Vehicles (EVs), comprehensive insurance is equally vital due to their sensitive electric components. Specific add-ons like Battery Protection and Charging Equipment Covers are recommended to mitigate risks unique to EVs, such as water damage to batteries and charging equipment theft or damage.
Filing a flood damage claim involves notifying the insurer, documenting damages with photographs/videos, and submitting essential documents like vehicle registration and policy details. This process ensures efficient claims processing and financial protection against flood-induced damages.
In conclusion, comprehensive car insurance with suitable add-ons provides essential financial protection in flood-prone areas, preserving vehicle value and functionality against severe weather impacts.
