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Royal Sundaram General Insurance has introduced three add-on covers to make its motor insurance policies attractive to policyholders.
For two wheelers, the insurer has launched ‘Return to Invoice’ cover that comes with two plans – 1. Customers get invoice value of their bike in case of a total loss including theft of the vehicle and 2. Customers can get invoice value of their bike along with road tax, registration charges and insurance cost.
So far, insurers pay insured declared value (IDV) in an event of loss or theft. Typically, this amount is much lower than the actual cost of vehicles.
Another add on ‘Roadside Assistance’ covers 11 emergency services, which can rescue an immobilized two-wheeler. The services can be requested for electrical, mechanical, or accidental breakdown.
For four wheelers, there is ‘Smart Save’ Add-on, which is currently free of cost for customers. It will help them get an upfront discount in Own Damage (OD) insurance premium, for repairing their vehicles at Royal Sundaram’s trusted repair shops and garages in the event of a claim.
In a press release, MS Sreedhar, MD, Royal Sundaram General Insurance said, “With a greater number of vehicles hitting the roads every day, the number of road accidents are also rising. These add-ons will greatly benefit insured customers in case of any contingency to the vehicle. Such innovative products are the need of the hour, especially when vehicular density is growing every year.”