Do ladies car-owners want motor insurance coverage add-ons?
By Nitin Kumar
Girls drivers are a rising demographic — in response to Statista, 6.8% driving licences have been issued to ladies in 2019 (newest information), of the whole 206 million that yr in India. A number of stories additionally present that girls are usually safer on the street than males (they are typically extra cautious and fewer prone to interact in dangerous driving behaviours). However regardless of being much less prone to be concerned in accidents, ladies drivers can nonetheless profit from extra safety on the street.
Whereas third-party insurance is obligatory for all automotive homeowners, it’s all the time really useful that one opts for complete motor insurance that covers injury to the proprietor’s automotive and third-party liabilities. However there are nonetheless sure injury bills that complete motor insurance coverage may not cowl. That is the place coverage add-ons come to your rescue, providing enhanced protection. Significantly for girls drivers, there are a couple of motor insurance coverage add-ons that must be thought of.
For girls who’re main earners
The ‘each day allowance cowl’ is an add-on that pays in your commute to work in case your automotive has damaged down and is getting repaired. This add-on is useful for girls who’re single moms or sole breadwinners of the household.
It usually offers a sum of as much as Rs 500 to cowl each day transportation prices, often for a two-week interval. The protection, nonetheless, could differ by way of the quantity and period relying on the insurer. This selection is especially helpful for individuals who depend on one car. It’s essential to notice that this add-on is legitimate provided that your automotive is getting repaired at a storage that’s in your insurance coverage firm’s community.
Safety when travelling alone
Roadside help is a vital add-on for all drivers, particularly for girls. A automotive can break down at anytime, anyplace, and if it occurs in the course of nowhere, ladies drivers can face quite a lot of inconvenience. Roadside help protection can present assist within the occasion of a breakdown, flat tyre, or different mechanical points, making certain that girls will not be left stranded in an unfamiliar space, and unable to hunt assist.
Girls ought to communicate to their insurance coverage supplier to debate which degree of protection could also be applicable for his or her particular person wants and circumstances.
Good driving behaviour will get rewarded
Pay How You Drive (PHYD) plans are primarily based on telematics units put in within the automotive to trace the driving behaviour of the motive force. PHYD is very helpful for girls drivers as they often display safer driving behaviours than males, leading to decrease insurance coverage premiums.
Underneath the PHYD mannequin, the driving habits are tracked, and drivers are rewarded with a reduction on their premium for good driving behaviour. Girls who comply with guidelines and drive fastidiously will find yourself paying a decrease premium than somebody who violates guidelines or crosses the pace restrict. This add-on helps in sustaining street security by rewarding drivers who observe protected driving habits.
Safety for worthwhile belongings
The ‘private belonging cowl’ is a helpful add-on for girls who commute to work on a automotive each day and carry valuables with them. Whereas complete motor insurance coverage insurance policies could cowl the price of any injury to the automotive, these don’t cowl the price of private belongings which might be broken or stolen. This cowl offers protection for loss or injury to non-public belongings which might be saved contained in the automotive, as much as a sure restrict.
It’s essential to notice that this add-on comes with a couple of exclusions of its personal. A few of these are:
—Any incident that has occurred because of the policyholder’s negligence;
—Claims arising out of a borrowed property;
—Private belongings that have been left within the automotive in a single day;
—Lack of objects because of a automotive accident.
Pay just for the space you journey
Whereas Pay As You Drive (PAYD) is technically not an add-on, it’s a extremely really useful complete plan for girls drivers. It permits the policyholder to pay the premium as per driving frequency. One should buy from pre-decided distance slabs like 2,500 km or 5,500 km, as per want, and pay the premium in response to that. Alternatively, one can select the mannequin the place they will change off their coverage when their automotive is just not getting used, finally lowering the premium.
This selection works greatest for girls who work remotely or in a hybrid mannequin or those that don’t drive typically and like public transportation or cabs as an alternative.
It’s all the time suggested to check a number of choices on-line earlier than making a choice. Additionally, don’t overlook to learn the coverage fine-print completely before you purchase any plan.
(The creator is head, Motor Insurance coverage, Policybazaar.com. Views are private)
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