1. What happens in case of a break in renewing car insurance?
In case of third-party cover: There are two crucial components in a comprehensive car insurance policy—third-party liability cover and own damage (OD) cover. Third-party cover insures damages to life or property of a third party due to your vehicle. This is a mandatory cover without which you can’t take your car on the road. A break in renewal does not impact this cover much. Being a mandatory cover with a fixed premium, the insurer will offer you the cover even after a break. But keep in mind, the insurer will not cover any claims during the time your car is without insurance.
In case of own damage cover: In case of a break in the policy, the insurer will first inspect and photograph your vehicle. This is to document any pre-existing damages to the car which the insurer will not cover going forward. This is applicable only for partial damages and not in case of total loss like theft where the insurer will pay the entire sum insured.
2. Can the accessories be insured?
Yes, the accessories which do not come as a part of the car and have been fitted separately will be insured separately on payment of additional premium. The premium will be 4% of the value of the electronic accessories, plus service tax on it.