All insurance products spread the risk and associated costs among multiple people. These people have exposure to risk and pay premiums to claim insurance when required. Insurance providers pool in the risks and therefore the premiums from the policyholders and also invest it to generate more wealth. They pay out the insurance money when few claimants raise insurance demand from the accumulated fund from premium payments and their re-investments. Similarly, various vehicle owners get insurance for their automobiles through policies of car insurance, bike insurance, etc. Insurers assemble a huge corpus from policyholders and they pay out the insurance money to those who claim from the same corpus amount. This evenly distributes the risk and the costs among various policyholders.

Apart from the main types of covers discussed above, there are other types of motor insurance policies that the insured can take as add-on policies. Glass Insurance (under car insurance) covers the costs of damage to the glass of rear/side windows and sunroofs. Engine Protector Cover is insurance for the expenses that you may incur on the repair of the engine post water ingression or oil/lubricant leakage. Consumable Cover is an insurance cover for consumable items like washers, AC gas, bearings, engine oil, fuel filter, etc. There are Gap Insurance Policies or Depreciation Covers that cover the depreciation cost (the gap between the actual cost and the current market value) of the vehicle at the time of the claim.