What are some common add-ons available for bike insurance?
Amrit Pal Singh 13-01-2025 Bike Insurance Bike Insurance, Two Wheeler InsuranceWhen it comes to bike insurance, the base policy provides essential coverage, but it might not always meet all your needs. To bridge the gap, insurers offer various add-ons that can enhance your policy, providing extra protection and benefits. Below, we explore some of the most common add-ons available for bike insurance, helping you make informed decisions to maximize your coverage.
1. Zero Depreciation Cover
One of the most popular add-ons, zero depreciation cover, ensures that the insurer pays the full cost of replacing bike parts without factoring in depreciation. This is particularly useful for new bike owners as it significantly reduces out-of-pocket expenses during claims.
2. Roadside Assistance Cover
Breakdowns can happen unexpectedly. Roadside assistance cover provides on-the-spot help, such as towing services, minor repairs, fuel delivery, and flat tire assistance, ensuring you're never stranded.
3. Engine Protection Cover
Standard policies often exclude damage to the engine caused by floods, oil leaks, or other issues. This add-on ensures that engine-related repairs are covered, saving you from hefty expenses.
4. Personal Accident Cover for Pillion Rider
Protecting the pillion rider is just as important. This add-on offers financial coverage for the pillion rider in case of accidental injuries or fatalities, ensuring peace of mind for both riders.
5. Return to Invoice Cover
In case your bike is stolen or completely damaged, return to invoice cover reimburses the original invoice value of the bike, including registration and road tax, instead of just the Insured Declared Value (IDV).
6. Consumables Cover
During repairs, consumables like engine oil, nuts, bolts, and brake fluid are usually not covered by standard policies. This add-on ensures these costs are reimbursed, reducing your financial burden.
7. Key Replacement Cover
Losing your bike key can be stressful. This add-on covers the cost of replacing or repairing your bike keys and locks in case of loss or theft.
8. Theft and Damage to Accessories
Many bike owners install expensive accessories for better performance or aesthetics. This add-on covers theft or damage to these accessories, providing comprehensive protection.
9. Daily Allowance Cover
If your bike is under repair and you’re unable to use it, this add-on provides a daily allowance for transportation, helping you manage expenses during the downtime.
10. Helmet Cover
Helmets are essential for safety and can be expensive. This add-on covers the cost of repairing or replacing your helmet in case of an accident.
11. No Claim Bonus (NCB) Protection
NCB is a reward for claim-free years, reducing your premium. However, a single claim can nullify it. With this add-on, you can retain your NCB even after making a claim.
12. Hydrostatic Lock Cover
This add-on covers engine damage caused by water ingress, often resulting from riding through flooded areas. It’s especially useful during monsoon seasons.
13. Enhanced Legal Liability Cover
For those who employ riders or use their bikes for commercial purposes, this add-on offers extended liability coverage, protecting against third-party claims.
Conclusion
Add-ons play a vital role in tailoring your bike insurance policy to meet your specific needs. While they increase your premium slightly, the additional benefits they provide far outweigh the costs, ensuring you’re well-protected in various situations. Before selecting add-ons, evaluate your requirements, riding habits, and budget to choose the ones that offer maximum value. Remember, a well-rounded policy not only protects your bike but also ensures peace of mind on every journey.