Bharti AXA announces add-ons on car insurance

Bharti AXA GI’s deep routed insight into individual requirements has been the basis for product development.

July 03, 2013 7:38 IST | India Infoline News Service

In line with its growth strategy, Bharti AXA General Insurance Co. Ltd announced the launch of unique add on bouquets with the standard motor insurance policy that aim to provide complete car and passenger protection for the customer.

Speaking on the launch of the Innovative motor add on bouquets, Dr Amarnath Ananthanarayanan, MD and CEO, Bharti AXA General Insurance said, “We would like to create awareness for our unique add on product bouquets as they will benefit consumers by offering complete protection not just for the car but also for the passengers. In light of the high incidence of monsoons in the country, these also cater to damages arising out of heavy rains. 

We hope to add value and customize solutions as per the needs of our customers. As a company we aim to grow our business by offering innovative insurance solutions that meet specific customer needs and this is a significant step in that direction”.

Bharti AXA GI’s deep routed insight into individual requirements has been the basis for product development. The unique add on cover bouquets meet specific needs of vehicle owners who face serious potential damage to themselves and their vehicles during heavy rains. Through these add ons, vehicle owners will not only be able to cover basic damages to their vehicles, but will also be able to recover damages that are not covered in the standard policy. 

Over and above the standard insurance protection that the comprehensive car insurance covers, the company has launched six product bouquets for the customer stemming from 3 strong value propositions :

1. Protection for the car

2. Protection for the family/passengers and

3. Protection for both, the car and the passengers.

1. 100% bumper to bumper protection for the car

5 essential covers that are a “must have” to protect your car: The Hydrostatic Cover, which covers damages to the engine due to water ingress which is not normally covered under the standard car insurance policy. Consummables Cover that covers parts like screws, nuts, bolts, washers, sleeves, again which are not covered under the depreciation or standard car policy. Depreciation Cover, which covers depreciation on glass, metal, plastic parts and painting.   No Claim Bonus (NCB) Protector: Especially beneficial for good drivers who have built up a good No claim Bonus over the years. 

This not only rewards good driving but also protects the car against an accident owing to the negligence of others. In the event of a claim, it brings back the same NCB slab accumulated over the years. Invoice Price Cover : This covers the shortfall amount between the Insured value and the Invoice price of the vehicle+ road tax, registration and insurance amount. This means reinstating the value of a new vehicle for the insured .This cover kicks in the case of theft or total loss.

2. Coverage of medical expenses for the passengers/family

Insurance protects your car from financial damage in a mishap. But what about the passengers and family who are in the car during a mishap? The Medical Expenses Cover takes care of ambulance expenses, medical OPD expenses up to Rs 10,000 and offers Rs 1000 as daily allowance up to 30 days of hospitalization for the passengers in the car.

3. Enhanced Protection for the car and passengers

Stranded in the middle of nowhere and need emergency help? The Road Side Assistance Cover: provides for help in case of an electric or mechanical breakdown of the car and offers facilities like towing, lost key retrieval and emergency fuel assistance, especially essential in the monsoon to protect you against being stranded.

The six product bouquets created from the combination of the above three propositions ensure that customers can choose what suits them best as per their needs and budgets.

The awareness of such add ons is very low and Bharti AXA aims to change that through constant engagement and awareness initiatives. With the online purchase of insurance growing, Bharti AXA products and add ons are available on www.bharti-axagi.co.in to enable easy purchase and instant policy issuance.

Bharti AXA GI offers a wide range of products across health and personal accident, motor (car and two-wheeler), home, commercial and rural insurance. The product range of 54 products and 17 add ons cater to a variety of segments including rural, semi-urban, urban; private individuals; small & medium enterprises, shops and large industries. For each segment an ensemble of products has been conceived and designed to meet the varying needs of the customers. The company is looking at strengthening its service network and focusing on the underserved segment, especially in tier- II and III cities.

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