The monsoon season has brought severe waterlogging, fallen trees, and vehicle damage to several major cities including Bengaluru, Mumbai, and Chennai. Recent studies show that the frequency of heavy downpours has increased significantly in recent years, with some states experiencing up to a 30% increase in rainfall over the last decade.
Even with a comprehensive motor insurance policy, vehicle owners may still be vulnerable to monsoon-related risks. Shashi Kant Dahuja, Executive Director and Chief Underwriting Officer at Shriram General Insurance, highlights the need for additional protection. “Some of the states have seen rainfall increase by up to 30 per cent over the last decade compared to the previous 30-year average,” he notes.
Critical Insurance Add-ons for Monsoon Protection
- Engine Protection: Covers damage to the engine due to waterlogging
- Battery Protection: Safeguards against battery failure caused by excessive water exposure
Key Considerations for Vehicle Owners
- Review your existing motor insurance policy to identify gaps in coverage
- Consider adding specific monsoon-related protections
- Understand the claim settlement process for water-related damages
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As the monsoon season progresses, it’s crucial for vehicle owners to take proactive steps to protect their vehicles and ensure they have adequate insurance coverage. By understanding the risks and taking appropriate measures, drivers can minimize potential damages and financial losses.
