Car Insurance Add-ons needed for your Luxury Car

Owning luxury cars have become comfortable these days due to good discounts and easy financing options. More than buying a luxurious fancy car, it is quite challenging to maintain it. Even small damage can cost you so much to get fixed. Luxury cars always require high maintenance with high-quality services. It won’t settle for standard services like the basic model vehicles. 

Irrespective of the car you own, it is important to get car insurance in UAE as per the UAE RTA law. Similar to other vehicles, two types of car insurance are offered on fancy cars - Comprehensive Car Insurance and Third-Party Car Insurance. 

Comprehensive Car Insurance - A comprehensive car insurance provides coverage for the damages caused to your vehicle in an accident, fire, theft, natural disaster, etc. 

Third-Party Car Insurance - A third-party car insurance provides coverage for the damages caused to other vehicles by your vehicle.  

Important Add-Ons for Luxury Cars

Though car insurance offers financial coverage at the time of need, it is mandatory to note that car insurance does not provide coverage for all the claims unless you have an add-on for the claim. Add-ons are the extra protection provided to your vehicle which can be added to your basic car insurance policy according to your requirement. 

As mentioned, the maintenance and service costs for a luxury car is expensive and car insurance can help you get financial assistance at the time of need. As the basic car insurance policy may not cover everything, there are certain important add-ons that you can get while getting car insurance for your luxury car in the UAE. 

1. Zero Depreciation Cover

Any car depreciates its value over time and luxury cars are no exception. Depreciation reimbursement cover provides full claim value without total loss. It provides protection for the value of the car and its components against depreciation. Getting your fancy car repaired and the parts replaced can cost you high, the zero depreciation cover will safeguard the value of the vehicle and will be able to get coverage of the full amount during a claim. 

2. Engine Protection Cover

The heart of a vehicle is the Engine. No car works without the engine and its components. This explains why the engine and its components are considered the costly parts of a vehicle. Engine damage can make you spend huge for the repair. The Engine Protection Cover can come to your rescue in such cases. It is recommended to car owners who stay in flood-prone areas.  

3. Return to Invoice Cover

The Return to Invoice Cover helps you if there is a total loss situation with your vehicle. If your luxury car is stolen or if the vehicle is damaged to an extent that it cannot be repaired, then the Return to Invoice Cover will help in claiming the entire car value which will help you in purchasing a new car. 

4. No Claim Bonus Protection Cover

No Claim Bonus (NCB) helps in getting a discount on your car insurance premium if you have not claimed your insurance in the previous years. The discount for No Claim starts from 20% to 50% depending upon the number of years you have not claimed the coverage. Life is unpredictable. If you raise a claim you’ll lose all the No Claim Bonus you’ve accumulated all these years. 

The No Claim Bonus Protection cover can help you in such cases. Even if you claim your car insurance, your NCB will not be nullified. 

5. Roadside Assistance Cover

You may never know when your car breaks down. During on-road breakdown, you need to tow the vehicle to the garage which provides services to luxury cars in the UAE. Though there are many towing service centres available, the service provided by these companies may not be satisfying and bad towing can lead to more damage to your luxurious car. The simple Roadside Assistance Cover can help you in such situations. Most insurance providers in the UAE offer roadside assistance benefits as a part of their basic coverage.