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For the average, common man, buying a car is a huge financial investment. The joy of bringing home your first car is unparalleled to everything else. But in your enthusiasm of purchasing your dream car, you should not forget about buying car insurance. While the Motor Vehicle Act of 1988 dictates that all car owners should hold third party liability insurance at the very least, common sense suggests that it is better to invest in a good, comprehensive car insurance policy with various types of add-ons. One of the most popular add-on riders you need to consider while purchasing car insurance is the engine protection add-on cover. Here’s all you need to know about engine protection in car insurance.
As the name suggest, an engine protect cover is a type of add-on rider in insurance policies that covers the cost of repairs or damage if the engine, the heart of your car, is damaged. Engine protect cover is regarded as an add-on rider since a basic, comprehensive car insurance policy typically does not offer coverage against damages incurred on the engine of the car or other important parts such as the cylinder, crankshaft, pins, piston and gearbox and so on.
What’s included in the engine protection insurance cover?Your car insurance policy with engine protection add-on typically provides protections in the following scenarios:
Even if you own engine-protect insurance, your claim could be rejected if:
While it is advised that every car owner should opt for engine protect in insurance, there are some groups of people who need this add on cover more than others. These include people living in flood prone areas or those working near water bodies. Also, if you live in a city where monsoons are harsh and streets are logged with water most of the time, it is in your best interest to opt for this add-on since there is a risk that water could enter your car’s engine and damage it. Also, people owning high-end cars can end up spending a whooping amount of money if their car’s engine is damaged as opposed to those who own a regular car. Such people should also consider engine protection insurance as it protects their financial interests.
Remember that different insurance providers have different rules regarding what is and isn’t covered under the engine protection add-on cover which is why it is important to read the terms and conditions of your car insurance policy thoroughly. The cost of repairing a standard car’s engine could set you back by approximately ₹150,000, excluding the cost of plastic and metal parts which may possibly cost a few more thousands. All this is not covered under a basic comprehensive car insurance policy and the costs need to be borne by the policy holder. However, if you opt for engine-protect insurance, you do not have to worry about these costs.
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