Insurance renewal for my Scorpio-N: Which add-ons to choose?

My question is do we need all these in an insurance renewal or can we drop 1 or 2 so that insurance premium also comes down? In my opinion, engine protection and RSA can be removed.

BHPian sulliavi recently shared this with other enthusiasts.

My Scorpio-N insurance renewal is due this month end. I got a quotation from Mahindra Insurance team (from the dealership). It is for a premium of 30935/- (total IDV is 1500000).

Below are the add-ons which were selected. My question is do we need all these in an insurance renewal or can we drop 1 or 2 so that insurance premium also comes down ? In my opinion, engine protection and RSA can be removed.

Add-Ons: Nil Dep, RTI, Engine protection ,RSA, Consumables, Key replacement

Please suggest.

Here's what BHPian robincsamuel had to say on the matter:

It's better to opt for Nil depreciation, RTI, and engine protection as long as they're available. In the event of a claim, normally the payout amount would be the actual part cost minus the depreciation; opting for nil depreciation will cover the full part cost instead. With RTI (Return to Invoice), you'd receive the full invoice value in case of a total loss, including road tax, rather than the IDV. Engine protection covers internal damages to the engine and transmission caused by water ingress or accidents.

These three add-ons make up the major portion of the premium, and dropping add-ons like key replacement would only make a minor difference.

Did you check with other insurance providers?

Here's what BHPian cartail had to say on the matter:

Do ask the Dealership to provide more quotations by other Insurance Companies with same Add-ons. You can also check Kotak or HDFC as I have found their premium to be less.

Here's what BHPian DK_accord had to say on the matter:

Personally, I like to add all the add ons which are available for my cars. The whole reason for buying insurance is to minimise the liability on oneself and transferring it to insurer. Also, I try to buy insurance from the companies which provide cashless claims and have tie ups with Service center.

Read BHPian comments for more insights and information.