Car Spare Parts Insurance

A car is run by several parts working in perfect coordination, with each part having a specific role to play. Before purchasing a car, you usually evaluate many features besides the availability of spare parts. This is because the car parts have a particular lifespan, after which they need to be replaced. But the replacement of the car parts can cost you thousands of rupees.

A comprehensive insurance policy covers the costs of reasonable repairs only. Moreover, the policy covers the replacement of car insurance components due to an accident or natural disaster. Thus, you must consider adding car spare parts insurance to your policy for 360-degree coverage.

Comprehensive car insurance fails to cover the replacement of car spare parts due to their theft or damage besides accidents or natural calamities. Thus, to remain stress-free about the expenses on car spare parts, you must buy the following add-on covers to your car insurance:

Engine add-on cover

The engine of your car is the most crucial part. It is made up of several small components having specific maintenance and expiry needs. But a comprehensive policy doesn’t include engine damages except for damages due to accidents. With the purchase of the engine add-on, you can cover the expenses incurred on the engine’s repair or replacement besides damages from accidents. So, considering the high chances of engine failure or damage, you must add an engine cover to your car’s insurance.

Tyre add-on cover

The tyre add-on helps you cover the financial expenses incurred on tyre replacement due to tyre bursting, puncture, tyre cuts, etc. Factoring in the condition of Indian roads and the nature of your trips, you must consider adding this valuable coverage to your car insurance policy.

Zero depreciation add-on cover

At the time of claim settlement, the insurance provider considers the current market value of your car. The difference between the car’s original price and its present value is known as depreciation. With the zero-depreciation cover, you don’t have to pay for the depreciated car parts. Instead, the insurance company pays for them. This bumper-to-bumper car insurance allows you to claim a higher sum at the time of claim settlement.

Key replacement add-on cover

Keys are expensive to replace or repair, especially the remote keys and keyless FOBs. Thus, a key replacement cover provides reimbursement for the costs incurred in key replacement or repair if you lose or damage them. There are high chances of losing a key due to its small size. So, protecting your key with this add-on cover is a wise choice.

Car accessories add-on cover

Car accessories insurance is essential if your car is equipped with expensive accessories like a high-end stereo, LCD TV, reverse camera, etc. Basic comprehensive insurance only covers damages to the basic parts of your car and not the additional accessories. But with car accessories insurance, you can cover the damages to the accessories due to accidents, natural calamities, theft or burglary.

Replacement of car components like tyres, clutch plates, gearboxes, or batteries is quite expensive and can take a toll on your pockets. You can either choose to replace the parts with original, duplicate or used parts. Find out which is a good option.

• Original spare parts

While replacing your car’s components like battery, engine fan, radiator, clutch, brakes and shock absorbers, ensure you buy original parts made by the car’s manufacturer. These car components directly impact the car’s functioning and must be of good quality. Usually available at higher costs than duplicate parts, the company parts come with a long-term warranty and are available at garages and service centres.

• Duplicate spare parts

Many individuals choose to replace car parts with duplicate ones that are budget-friendly. Not manufactured by the car’s brand, these parts function like original parts but are not reliable in the long run. So, you should not buy duplicate spare parts to replace essential car components as they may impact the car’s performance. However, you can consider buying duplicate parts to replace your car’s bumpers, wipers, seat covers, etc.

• **Used spare parts **

Used parts are from the original manufacturer but belong to the cars that are discarded in the junkyard for several reasons. So, if you don’t wish to spend much on car parts but still want original spare parts at a low cost, buying used parts can be a good option.

Car spare parts insurance comes in handy when car parts require a change. It is more beneficial if you own an expensive car, the spare parts of which can cost you a handsome sum. Third-party car insurance is mandatory under the Motor Vehicle Act, 1988. Many individuals believe that buying a third-party cover is enough for their car and fail to realise that this policy doesn’t cover the owner’s car damages or injuries. So, buying comprehensive car insurance is of utmost importance when you own an expensive or new car to cover multiple damages.

Also, adding the spare parts cover to your four-wheeler insurance can help save some money while replacing car components after their malfunction or damage.

With Tata AIG, you can tailor your four-wheeler insurance and give the protection your car deserves. By adding suitable add-ons, you can enhance your policy’s coverage at affordable premiums. So, buy car insurance today with Tata AIG and enjoy the seamless repair of your car at the company’s cashless network of garages.