Insurance of CNG kit
The rise of petrol and diesel prices has resulted in many car owners switching to diesel and LPG kits in their vehicles. The risk of fire increases in such kit during the summer. These kits can be insured with the help of certain additional premium policies offered by the companies.
No claim bonus and retention
This is a bonus that you get in case you don't opt for any claim within a year or after inception of the policy. In other words, it is a reward for your actions. These claims start from 20 percent and can go up to 50 percent depending on no claim made or pending during the preceding year of insurance. Earlier, a small claim used to nullify the "No claim bonus" from a policy holder. But, this is not the case now as many insurance companies are giving the offers of protection of this bonus up to a certain limit and additional premium.
Co passenger's insurance
In case of a mishap, the life of not only the driver, but other persons sitting in the vehicle is also at stake. In such cases, one can take benefits of Co passenger's insurance against death or disability due to an unfortunate accident.
Assistance on road
This is another important cover that saves you from a lot of frustration and covers your vehicle in a situation of any technical break down on the road. It is possible that your vehicle gets affected in the middle of the road or your car tyre gets punctured. Such a scenario can be dealt with by taking a road assistance cover that provides safety against odds.
About the author: Amit Sethi is an MBA (Fin) graduate and a Financial Consultant. He has spent over 10 years in Equity research, Stock broking and Financial Consultancy Sector. He can be reached at firstname.lastname@example.org