You have a CNG car and you thought all you needed was a normal motor insurance? Wrong! Read on to find out what you may not know and what you must do to insure your car.
So did you 'Party-all-night' at different clubs to toast 2014 a goodbye? Or did you bring in 2015 with a long, peaceful drive to the nearest hill station outside the city, with Rafi's classics, some chai and your girlfriend? However it was, we get it. You cherish your car and it goes wherever you go!
Seeing that you spend so much time in your car, don't you want to make sure that it is economical, practical and sustainable? We will tell you how - convert it into a CNG one.
Here is Why
You, primarily, would know that it is the eco-friendly option. Average comparisons have also shown that natural gas runs around the same distance for half or 1/3rd the price of regular fuel and so CNG is obviously cheaper than all the other options.
Added to this, your car's engine life gets better with its reduced carbon emission levels. Hence you get to do your bit towards the go-green campaign. A win-win whichever way you look at it.
If we have given you enough reason to believe that natural gas can be precious to both the environment and your pocket, then we believe we have added to your list of resolutions. Install a CNG kit to your car right away.
And what's better – you can fulfill your resolution right away! Instant gratification is awesome! But wait, you are not done! The process will be complete only if you insure your kit.
CNG is good but isn't the procedure for insurance the same? What do I need to do?
Essentially, there are two ways to opt for CNG.
Old car with new CNG fittings
If you are someone who uses the average petrol car and you go, get your engine fitted with a CNG kit, you obviously have your car insured. But did you know you need to insure the kit separately? If you forget to insure the kit or, say, you thought you can be thrifty and not insure it, thinking your current car insurance policy is valid, you're wrong!
You can run into great trouble with your dear car since you run the risk of claim rejection, in case the need arises to make one. And since CNG kits are placed in the trunk of your car usually, you even face the high risk of damaging it if some poor bloke runs into the trunk of your car.
There is no way you can get anyone to believe your story about how you were just on your way to get your CNG car/kit insured AFTER your car gets damaged, so no point delaying this process.
New car prefitted with CNG Kit
If you are considering buying a new car, there may not be much to worry about. Since your kit gets fit by the company, your brand new RC book can have the CNG seal done with the help of the company. The car insurance premium (since it is valued on the cost of your CNG car) will be inclusive of the CNG option.
All you need to do is ensure that the declaration on the RC book & policy happens.
Why insuring your CNG kit is an unavoidable, prudent decision.
For the comprehensive petrol car, the average claim expense in a year is around Rs. 15,000. Since it is more cost-effective, you are likely to use your CNG car more than you use your average petrol car. Thus the claim expense can be safely assumed to be the double of that.
If you had installed the CNG kit after the purchase of your car, the average insurance premium that you need to top it up with would only be 4% of the CNG kit, which would be around Rs.1000. Imagine losing an entire claim just because you didn't want to pay up this small difference!
So if you have installed a CNG kit in your car and haven't insured it, don't lose any more time than you already have. Get that seal done on your RC book and rush to your insurer as soon as possible! They need to upgrade your current policy to one with the CNG cover. This would be done after an inspection and approval.
Remember - failing to do this may cost you, all of your future claims!
Now that you know just that little bit more that you needed to know about having a CNG car and how to insure it, we here at Coverfox can also help you figure out any further doubts that you may have. Or if you are already clear about the topic and you want to make your next step and get your kit insured - hey, we can do that too, for you!