A car insurance policy is basically like a protection plan which safeguards our vehicle from a spectrum of damages or losses. Given the conditions of traffic and roads, a vehicle breakdown has become a commonplace occurrence. In such a case, the expenses for making suitable repairs to the vehicle can be extremely high. Keeping such unforeseen incidents in mind, it is crucial for one to have their vehicle covered by an adequate car insurance policy.
What is Garage Cash Cover?
One of the most important elements of a car insurance policy is Garage Cash Cover. You can better understand the significance of this cover with the help of the following example. Say, your car has been in an accident, has been damaged to an extent where it is unfit to be driven and now must be sent to the garage for repairs. For the duration that your vehicle is being repaired, you do not have any mode of transport for your daily commuting purposes and would probably have to rely on using public transport for the same. However, Garage cash cover will come to your rescue in such a situation as it provides you with a daily allowance for commuting purposes for each day that your car is at the garage for repair. Following are some things to remember about Garage Cash Cover:
- This can in turn help greatly reduce the financial burden which you may have it otherwise incur to pay for your commuting.
- Garage Cash is usually an add-on plan. This implies that, it is not a standard part of a car insurance policy and you will be required to shell out some extra money in order to avail this cover.
- Under any insurance policy, a Garage Cash Cover will be applicable only if the damaged vehicle has been sent for repair at the authorized service center or garage (the same will be stated in your car insurance policy wordings).
- Also, the vehicle must be sent to the authorized service center or garage for a minimum number of days, as has been specified in the policy document.
- Usually, in the case of theft, garage cash cover comes into practice only if the vehicle has not been recovered or found for a stipulated duration, which will be specified in the policy terms.
- Also, you must note, that allowance provided under Garage Cash Cover will only commence once the insurance company has given its approval for the same.
- Currently, in India, ICICI Lombard is one of the general insurers which provides its car insurance customers with the facility of Garage Cash Cover.
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