Is there any special monsoon motor insurance cover available in the market? – Anuj Bansal

For new vehicles up to a certain

number of years, add-on covers like Engine Protect and Return To Invoice is advisable to opt for. These add-on covers are annual contracts and not restricted to a particular season. Engine Protect will indemnify the owner for engine related damages caused to the vehicle due to water ingression in the engine while driving the vehicle in accumulated flood waters. Return To Invoice cover will pay back the ex-showroom price of the vehicle in case the damages to the vehicle are beyond mechanical repairs like such as damages due to a fallen tree or vehicle fire. Engine Protect and Return To Invoice is only extended to car owners whose vehicle is not more than five years old. _ I have a collection of stamps and old coins. Is it possible to take insurance cover for them?_ —Rahul Shah

Homeowners policies typically cover your antiques. The amount of coverage is typically very limited and may not be enough to cover replacement of your expensive possessions after a loss. You can insure such valuables by availing an add-on cover available under certain home insurance policies, such as an ‘All Risk cover’. This cover provides coverage for valuables outside the residential premises, including that kept in the bank locker.

In a comprehensive motor insurance cover, do I get the full claim amount? — Krishnan V

There are some repair components which attract deprecation charges for replacing the damaged parts/ oils with a new pair of parts/fluid. Also, items like body painting and rubber parts attract depreciation unless you have opted for an add-on motor cover called Zero/Nil Depreciation cover. Under Own Damage (OD) cover, there is an understanding between the insurance company and the customer, to compulsory deduct a minimal amount towards repairs. It is explicitly mentioned in the policy as Compulsory Deductibles.