Think of your perfect and favourite pair of shoes. Now imagine them carrying the entire weight of your body, walking on potholes and taking bumpy rides that feel like a roller coaster. It's like your shoes are in for an adventurous ride and might need an extra layer of protection.
Similarly, the tyre protector cover is like the shoes of your car. Tyres are those parts of the vehicle that are subject to varied road surfaces. Moreover, tyres these days do not come cheap. The more expensive the car is, the better the quality of the tyres and the higher the prices. Hence, the tyre protector cover provides reimbursement for expenses related to the tyre damages of vehicles and can be purchased with a comprehensive policy as an add-on.
Since tyres are such a vital part of any vehicle, it is important to give them enough care. The add-on is recommended for people who:
Any standard insurance policy will provide the following inclusions in the tyre protector add-on:
Given below is the list of things that are not covered under the Tyre Protector Add-on Cover:
A loss settlement criteria has been established by the Insurance Regulatory and Development Authority of India. The insurer will have to refer to the following criteria for calculating the claim amount:
|
Mean Residual Tread Depth of the Tyre(s) at the Time of Loss |
Admissible Claim Amount |
|
>= 7 mm |
100% of the cost of new tyre(s) |
|
>=6.5 and <=6.9 mm |
85% of the cost of new tyre(s) |
|
>=5 mm and <=6.4 mm |
75% of the cost of new tyre(s) |
|
>=3mm and <= 4.9 mm |
50% of the cost of new tyre(s) |
|
< 3mm |
Nil |
The damaged tyre will be measured at the centre of the tread. The mean of a minimum of three readings is calculated, and accordingly, the claim amount is fixed.