3 car insurance add-ons you need if you live in a theft-prone area

Car theft is a real danger - figures from Delhi show that 125 cars are stolen every day. So many cars being separated from their owners on a daily basis is a cause for concern. However, it shouldn’t worry you much if you own a comprehensive car insurance policy. Even if your car is stolen, your insurance policy will reimburse you with a large percentage of your car’s value. This is because all comprehensive insurance policies cover theft by default.

However, if you are one who requires extra peace of mind from theft, you can opt for a number of add-ons that will reduce, if not completely nullify, the impact of a stolen car. This article will highlight 3 of these add-ons to help you get full-proof protection from car theft.

1. Zero-depreciation cover:

Usually, car insurance will provide you with the insured declared value of your vehicle in case it is stolen. However, it will also take into consideration the depreciating value of your car when providing the payout. This might result in a gap between your expectations and the final settlement. To avoid this, you can opt for zero-depreciation cover. It will ensure you get a full payout of your IDV. 

2. Return to invoice add-on:

You might think that with zero depreciation cover added to a comprehensive car insurance policy, you are completely safe from the financial impact of a stolen car. However, this is not true as plastic parts, rubber, etc. will not be compensated for. This will result in a payout slightly less than the actual cost of your vehicle. Fortunately, you can opt for the ‘Return to Invoice’ cover and get the on-road cost of your vehicle. It will cover the gap between the IDV of your vehicle and the cost of a new car.

3. Cover for your car's contents:

Sometimes, car thieves are unsuccessful. They make it into your car but cannot pull off the heist. It could be someone passing by, a dog barking or a safety system you have installed. However, the chances of them leaving empty-handed are slim – they will try and pick-up your music system or valuables that you have in your car. Car insurance does not cover the cost of these belongings as standard. But, you can opt for the content cover to ensure you are covered from the theft of your car’s contents.

Getting these three motor insurance add-ons will give you complete peace of mind from the unlikely yet plausible event of theft. If you live in a theft-prone area, it makes sense to invest in these add-ons. The yearly premium will not dent your finances and they ensure your losses are kept to a minimum in case your car is stolen or its contents are burgled. We suggest you include these add-ons rather than being sorry you didn’t in case the unthinkable were to happen.

We hope this article has been helpful, good luck and all the best – drive safe!