Bharti AXA Car Insurance Add On Covers

Founded in 2008 following a joint venture between AXA Business Group and Bharti Enterprises, Bharti AXA today is one of the most go-to general insurance companies in the country. Having more than 70 branches spread across the country, Bharti AXA has an approximate customer base of 3.5 million, has more than 2,500 cashless garages and gives its customers the privilege of the 24/7 claim assistance. Car owners who have availed a car insurance policy with Bharti AXA have the option of customising their car insurance policy to enhance their protection and coverage. For those who wish to avail a car insurance policy from Bharti AXA or wish to buy one, we’ve listed out their add-on covers which will give the vehicle owner comprehensive coverage under numerous circumstances.

Bharti AXA add-on covers

Customers or Bharti AXA policyholders can avail any of the add-on covers offered to enhance the protection of their car:

• Zero depreciation cover

When a car owner files for a claim for coverages of damages caused to the car following an accident, the claim is limited to the insured declared value (IDV) of the car. The IDV is based on the depreciation factor of the car - basically the reduction of the value of the car as the car gets older. By availing the zero-depreciation cover, the depreciation factor is negated when it comes to assessing the claim amount. By having this, the vehicle owner will be eligible to receive the complete claim amount and this will reduce the out-of-pocket expense. The zero depreciation cover is beneficial for cars below 5 years old, wherein 100% of the depreciated parts are covered and covers cost of durables as well. A car owner can use this add-on cover for a maximum of 2 claims during the tenure of the policy.

• Hydrostatic lock cover

A hydrostatic lock is a common occurrence for a car breaking down in a flood. A hydrostatic lock is basically a damage to the engine due to the case of water seeping in. By having the hydrostatic cover, the damages met to the engine and its parts are covered.

• No-claim bonus protector

For every claim-free year, an insurer rewards the car owner with the no-claim bonus option. This means that the car owner will have the privilege of paying for the premium of the following year at a discounted price. However, a single claim, irrespective of how small the damage could be will withdraw this no-claim bonus privilege. By having the no-claim bonus protector, car owners can protect their no-claim bonus up to 2 claims during the tenure of the policy. In short, the NCB does not get affected by claims.

• Roadside assistance cover

In case of a break down, then the roadside assistance cover will kick in to cover the cost of roadside repairs, change of tyres, towing of the vehicle, etc. Depending on the coverage chosen, the car owner might even be offered accommodation facilities.

• Invoice price cover

In case of total loss or the car being stolen, the insurance company will offer coverage of the costs up to the IDV of the car. That means, you wouldn't get the actual value of the car though it is insured. With the invoice cover, in the case of total loss, the compensation will be equivalent to the actual price of the car inclusive of the amount spent for road tax, registration fees, etc.

• Personal accident insurance cover for passengers

Following an accident, the policyholder or the vehicle owner is automatically insured and medical expenses are covered up to a certain amount. With the personal accident insurance cover, even the passengers are insured. In fact, a payout of Rs.1 lakh is granted in case of permanent or partial disability or death.

• Key replacement cover

High-end cars come with specifically designed keys for each model, and if the owner does lose them, it costs quite a bit to be replaced. In such a case, the key replacement cover kicks in to cover the cost of the key. Subject to a maximum of Rs.25,000 per claim, policyholders can make a maximum of 2 claims during the tenure of the policy.

• Medical expenses cover

Apart from the coverage of medical expenses that comes with the policy, the medical expenses cover is additional and is applicable to the passengers in the car as well. In case the policyholder or passengers are injured following an accident, medical expenses up to Rs.10,000 are covered.

• Hospital cash cover

Subject to a maximum of 30 days of hospitalisation, the hospital cash cover is paid in lump sum to the policyholder and it is a fixed daily amount.

• Consumables cover

This offers coverage for parts such as bolts, nuts, or engine oil, that wouldn’t usually be covered by the insurance policy. The expenses to change such parts will be reimbursed in 3 days and is valid for vehicles less than 5 years old.

• Ambulance cover

This offers coverage for ambulance expenses following an accident. This however might be limited to the geographical location of the pickup.

• Engine and gearbox cover

While coverage for insurance policies does not include damages met to the engine, having the engine and gearbox add-on cover will cover expenses or repairs for such parts. Having this add-on cover will surely save the car owner a significant amount of money following failure of the engine or gearbox.

While avail the add-on covers as mentioned above is beneficial in numerous ways and will reduce the out-of-pocket expense over the claim amount, policyholders have to know that they would have to purchase the add-on covers over and above the premium cost of the insurance policy.