Car insurance is definitely a financial saver, safeguarding you and your car from any accidental damages that could occur in course of time. But, it is not a full-proof plan. Car insurance also has many exclusions in its policy, and may require further protection covers to ensure complete security of your car. These additional covers are known as add-ons, and one such add-on is called the “Car Accessories Add-on Cover”. Let us learn more about this add-on in detail.
One of the most exciting and interesting things that a car enthusiast can do with their prized possession is to have customisations inside the car. These customisations include music systems, LED DRLS, seat covers, anti-fog cameras, dash cams, etc. While these accessories do add attractiveness and comfort to the car, they are not included in a comprehensive car insurance policy. To safeguard these customisations and accessories, a policyholder must opt for the “Car Accessories Add-on”. This add-on makes sure if your car is damaged or stolen, you get the value of your accessories as well in the compensation after the claim. Without the car accessories add-on, these components will not be reimbursed for or get insurance benefits.
The car accessories are divided into two categories: electrical and non-electrical:
In some of the new car accessory add-on policies, even the CNG-fitted kit is covered.
Rohan recently bought a brand-new SUV and spent extra on high-end accessories like a touchscreen infotainment system, custom alloy wheels, and premium seat covers. While buying car insurance, his insurer suggested the Car Accessories Add-on Cover, which protects both electrical and non-electrical accessories against damage or theft. Rohan opted for it, knowing these upgrades increased his car’s overall value and would cost a lot to replace.
A few months later, Rohan’s SUV was involved in a minor accident that damaged his alloy wheels and infotainment system. Normally, his standard insurance would not have covered these accessories, but since he had taken the add-on, the insurer covered the repair and replacement costs. This saved Rohan from paying a hefty bill out of pocket, proving how valuable the add-on cover was in protecting his personalised upgrades.
Car insurance often protects your vehicle but leaves out the costly accessories you’ve added. With a Car Accessories Add-on Cover, you can ensure those upgrades are equally safeguarded. Here are the benefits of this add-on in car insurance:
Extends coverage beyond just the car body to include costly add-ons like infotainment units, speakers, roof rails, and designer seat covers.
Ensures that the extra money you spent on accessories does not go to waste if they are stolen or damaged.
Protects lifestyle upgrades and customisations that standard car insurance usually ignores.
Maintains the car’s full accessorised value, which helps during resale or valuation.
Settlement includes the actual price of accessories insured, preventing under-compensation in case of damage or theft.
It is an optional add-on that provides financial protection for electrical and non-electrical accessories fitted in your car, which are not covered under standard car insurance.
Electrical accessories like music systems, infotainment units, and security devices, as well as non-electrical ones like alloy wheels, seat covers, and roof rails are typically covered.
No, it is optional. You can choose it if you have installed additional accessories that increase the value of your car.
Adding this cover slightly increases your premium since it enhances your overall insurance coverage, but it provides financial security for costly accessories.
Most factory-fitted accessories are already covered under standard car insurance. The add-on is mainly useful for aftermarket or customised accessories.
Yes, if you have this add-on, damages to insured accessories from accidents, theft, or natural calamities are covered as per policy terms.
Yes, you may need to declare and provide invoices or bills for accessories at the time of purchasing the add-on so that their value can be included in the policy.
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