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Car Accessories Cover
Car accessories cover is a helpful add-on in car insurance that offers financial protection to car owners in case of any loss or damage to accessories installed in the insured car. The cover can be bought at an extra premium and keeps expensive fittings like reverse camera, high-end stereo, etc. safe from theft or other damages.
What is an Accessories Cover in Car Insurance?
For most people, their car is a prized possession that they have worked hard for. Buying a car is not the end of it; most people want to customize their vehicle to suit their taste and comfort. This is done by purchasing different car accessories, which don't come very cheap. LCD TV, headlight or taillight modifications, interior fittings, dashcam, fog lights, and premium air conditioners are a few examples of expensive car accessories that may be vulnerable to theft by miscreants. This is where add-ons in car insurance come into the picture.
Even if a person has a comprehensive car insurance plan, in case of any damage or theft, these accessories will not be covered. Unless the insurance also includes this add-on, no reimbursement or benefit can be offered to the insured.
Let's take an example:
Vrinda got a new car and spent a lot of money equipping it with a high-end stereo system, fog lights and expensive leather seat covers. One day, a thief broke into the car and stole the stereo system along with the leather seats. As she only got third-party car insurance, she did not get any benefit for replacing her stolen accessories and had to get her car repaired.
Had Vrinda opted for comprehensive car insurance with accessories cover, she would have received reimbursement for her lost accessories along with other damages.
Types of Car Accessories Covered in Insurance
While a car accessories cover in insurance offers protection against the loss of one's expensive accessories, not all the accessories are covered under this add on. It is important to confirm the exact benefits with the insurer before purchasing a plan. There are two types of car accessories:
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Electrical Accessories in Car Insurance
Here are the basic electrical accessories that are covered under the accessories cover in car insurance:
- Infotainment system
- Fog lights
- Brake lights
- Monitor
- Air conditioner, etc.
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Non-Electrical Accessories in Car Insurance
Non-electrical accessories in cars for which the accessories add-on offers coverage include:
- Seat covers
- Interior fittings
- Alloy wheels, etc.
Nowadays, several car insurance policies also offer separate insurance for CNG accessories that covers the entire kit.
Benefits of Accessories Cover
A standard car insurance plan may cover a range of damage to a car, but unforeseen situations may arise that are out of the scope of its coverage. In such cases, add-on covers for car insurance such as car accessories cover are among the most important optionals. At a premium of barely 5-10% of the insurance plan, the insured can remain stress-free about their car accessories getting stolen. Here are some fittings that are covered by most insurance plans under accessories cover:
- Car camera
- Fire extinguisher
- Battery charger
- Vacuum Cleaner
- Anti-theft devices
- Tyre pressure monitor
- Phone mount
People who live in areas prone to theft or other illegal activities must have the car accessories add- on in their four wheeler insurance so that their precious accessories can be repurchased if need be.
Vehicle Accessories Cover FAQs
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Q1. Who should buy a car accessories cover?
Ans: Anyone who plans to invest heavily in their car accessories should surely buy the accessories cover in insurance add-on to avoid any unpleasant expenses or loss due to theft. People living in areas susceptible to theft etc. can also buy accessories insurance. -
Q2. How much will this Accessories add-on cost me?
Ans: Depending on the insurer and overall sum insured, an additional premium ranging from 4% to 10% may be charged for the accessories cover in car insurance. It is best to confirm this with the insurance company. -
Q3. Will accessories insurance also cover my LPG or CNG kit?
Ans: Many insurers also offer coverage for the CNG/LPG cylinder and kit that a person gets fitted into their car. However, a separate insurance needs to be purchased for this as the benefits and premium cost varies from insurer to insurer. -
Q4. How can I buy the best vehicle accessories cover along with my car insurance?
Ans: You can check different insurers and compare their plans on Policybazaar.com before buying a plan. Also, take a look at their reputation and the time taken to settle claims. Only after getting satisfied with their policy terms and review one should buy this cover. -
Q5. Are all the accessories of my car covered by this add-on?
Ans: No, there are several car accessories not covered by the insurer under the accessories cover in insurance. It is best to confirm the exact coverage, especially exclusions and exactly what benefits are being offered to the insured. -
Q6. What is the electrical and non-electrical accessories cover in car insurance?
Ans: The electrical and non-electrical accessories cover is an add-on that you can buy with a comprehensive or own damage car insurance for an extra premium amount. In exchange for this additional premium, your insurer will offer coverage for any damage or loss to the electrical and non-electrical accessories installed in your car. -
Q7. Where can I purchase an insurance policy with accessories cover?
Ans: Not all motor insurance plans offer the accessories add on, hence it is important to first confirm the plans that offer this optional coverage. This can be best done online either by visiting the insurer's website or through Policybazaar.com. -
Q8. Is it worth opting for electrical and non-electrical accessories in a car insurance add-on?
Ans: You should opt for the electrical and non-electrical accessories cover in car insurance to protect the valuable accessories installed in your car. In case your vehicle gets stolen or damaged, the accessories coverage in insurance will help you avoid out-of-pocket expenditures. -
Q9. How is the value of electrical and non-electrical accessories calculated during a car insurance claim settlement?
Ans: In case of a car insurance claim, the value of the damaged accessory is calculated based on its invoice value and the applicable depreciation. The rate of depreciation of a car accessory is determined based on its age as per the policy wording. -
Q10. Why is the accessories cover in car insurance important?
Ans: The accessories cover in insurance is important because it provides vehicle owners with monetary coverage in case of damage or theft of valuable accessories in the insured car, which is not included in a standard car insurance policy.
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