Year after year, cities are lashed by heavy rains during monsoon. And while we are all thankful for the precious water that they bring, motorists are waking up to an increasingly harsh reality – Flood damage.
Blame it on systemic apathy or the torrential downpours that our skies unleash, it is a fact that our cars are highly likely to be submerged in flood waters, causing extensive damage to their engines. Sadly, most car insurance policies do not cover this eventuality.
What is engine protection cover?
When an engine is completely or partially submerged in water, it is in need of immediate maintenance, repair or replacement. However, your standard comprehensive car insurance policy does not cover damage associated with your engine.
- Engine protection cover can be an add-on to your existing insurance policy thus protecting you from any unforeseen natural calamities and repair or replacement for your engine parts like the pistons, rods, etc.
- Among other causes, this covers damage caused by leaking lubricating oil, water damage, and physical damage to engine parts or hydrostatic locks caused by starting an engine while it was still wet.
- The typical charges for an engine protection add-on can go up to 2% of your car’s current market value.
Who benefits from this add-on cover?
There are a few categories of people who benefit more from an add-on engine protection cover when compared with the general population:
- If you live in cities that are lashed by heavy rains leading to flash floods.
- If your homes are built in reclaimed flood plains where catastrophic flooding occurs due to overflowing rivers.
- If you own a luxury vehicle with repairs that cost far more than average cars.
However, any financially risk-averse individual can opt for this cover while purchasing Bajaj car insurance.
Is this covered under third-party insurance?
The answer to this question requires a proper understanding of what is third party insurance and what it covers.
Third-party insurance is legally mandated liability insurance that every motor vehicle owner must have in order to operate a vehicle on the road. This insurance covers any damage or injury caused to a third-party by your vehicle. However, it does not cover any damage to your car or injury to your-self. Hence, while the premiums look enticing, it does not offer any kind of comprehensive coverage when you need it the most.
What are the exclusions to the engine protection add-on?
As with any car insurance add-on, you must read the fine print carefully to ensure that your claims go through seamlessly.
Keep the following general caveats in mind:
- Cars which are older than 5 years are usually not eligible for engine protection cover.
- Only one claim can be made against this add-on during the policy period. The cover needs to be purchased again for use in future.
- If the inspection reveals that the car was force started while it was submerged under water, your claim could be rejected.
- Deliberate damages made by the driver, like driving a car with a heavily damaged bonnet, could lead to rejection.
Educate yourself about the benefits and features of engine protection cover today!