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Why Are Add-On Covers in a Two-Wheeler Insurance Policy Required?

What Are Bike Insurance Add-On Covers?

A two-wheeler insurance add-on is an additional cover you can buy with your standard bike insurance policy to enhance the overall coverage. While standard policy only covers essentials like third-party liability and own-damages against a few risks, add-ons extend your protection to specific scenarios such as engine breakdown, roadside emergencies, or loss due to depreciation on the bike's part. You can customise your two-wheeler insurance for more complete financial protection by paying a slightly higher premium.

Here are the standard features of bike insurance add-ons:

These are optional, not compulsory by law.
They can be bought with comprehensive or standalone own-damage (OD) bike insurance policies.
Except for PA cover, you cannot buy any add-on with your third-party bike insurance policy because this add-on cover is mandatory by law.

Why Should You Buy Add-On Covers for Bike Insurance?

Here's why bike riders often buy these optional covers:

Comprehensive Protection

It helps prevent heavy repair bills, which are usually excluded from a basic plan.

Peace of mind

It ensures smoother claim settlement with fewer deductions, offering peace of mind throughout the journey.

Pocket-friendly choice

It is wise to pay a small extra premium, which can help save a hefty repair bill later.

Policy customisation

Choosing bike insurance add-ons based on your riding needs, bike type, and risks helps tailor a bike insurance policy.

Popular Add-ons in Bike Insurance Policy

Add-on covers come in handy in boosting comprehensive bike insurance policy coverage and offer extensive coverage during unforeseen risks by paying a little extra premium. Also, compare two-wheeler insurance plans before making the purchase decision. Here are some of the most popular and valuable add-on covers that you must consider before making the final payment:

Personal Accident Cover

A Personal Accident (PA) cover is the mandatory bike insurance add-on cover. All bike owners/policyholders with valid driving licenses and between 18 and 65 years can benefit from this cover. As per the latest guidelines by IRDAI, all the bike insurance companies offer a PA coverage of up to ₹15 lakhs.

Return to Invoice Cover

If your bike is stolen or you face a total loss where your insured bike is damaged more than 75%. In such a case, the insurer compensates based on your bike's Insured Declared Value (IDV), which is less than the invoice amount of the bike. Unlike the basic policy, this cover guarantees the price you paid while purchasing the bike, including road tax and registration charges.

Zero Depreciation Cover

As a bike owner, opt for zero-dep bike insurance if you do not want a reduction in the claim settlement amount. This add-on cover compensates you for the actual cost of the replacement while settling the claims. Hence, it eliminates the burden of out-of-pocket expenses during the claims settlement and helps you save money.

Roadside Assistance Cover

An RSA cover in bike insurance ensures assistance reaches you within a specified time. Some valuable services covered by this cover are flat tyre changing, battery issues, technical or mechanical issues, key-related issues, towing assistance, emergency fuel delivery, taxi arrangement, accommodation services, and pick & drop facility.

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Cost of Bike Insurance Add-On Covers

Bike insurance add-ons offer extensive financial protection but may increase your final premium slightly. The cost of bike insurance add-ons depends upon:

Bike Model And Age

The make, model, and age of your bike directly impact the cost of add-ons, as the new or premium bikes like sports bikes or superbikes usually have higher repair or replacement costs, making add-ons like zero dep or engine protection cover expensive.

Add-Ons With Base Policy

The final premium also depends on how many add-ons you choose with your comprehensive bike insurance policy. Opting for more than 1 or 2 essential add-ons together will significantly increase your overall cost or insurance premium.

Insurance Provider / Company

Each insurance company has its own pricing model for add-ons. For example, some bike insurers offer bundle packages, where you automatically get built-in coverage with your comprehensive bike policy. Some charge a higher premium by providing separate add-ons to cover various risks.

Disadvantages of Third-party Bike Insurance

How to Choose the Right Bike Insurance Add-On Covers?

Choosing the right add-ons depends on various factors, such as:

Type of Bike:

A brand-new bike has a higher value than any old or used bike, so having zero depreciation cover and Return-to-Invoice (RTI) cover is essential.
Riding habits

As a long-distance commuter, you must choose add-on roadside assistance cover (RSA). This will help you in case of any technical or mechanical breakdown that may arise in the middle of the journey.
Location risks

A place's geographical condition decides whether to buy an add-on cover. For example, flood-prone areas need Engine Protection Cover, and the theft-prone regions need Return-to-Invoice (RTI) cover.
Budget

It is wise to select add-ons that provide maximum value for your premium.

Things to Keep in Mind Before Buying Bike Insurance Add-On Covers

Here are a few things that you need to keep in mind before buying add-on covers with your bike insurance policy:

They are available only with a comprehensive and own-damage bike insurance policy.
Each add-on has specific terms, limits, and exclusions that you must check before buying.
The buying process should be based on your usage, geographical conditions, associated risks, etc.

Why Choose Policybazaar for Third-Party Bike Insurance?

Policybazaar.com makes it quick and convenient to stay legally compliant. Here are the reasons why you should buy third-party bike insurance online from us:

Instant policy issuance

Affordable premium starts at just ₹1.3/day

24x7 claims support

No documentation or zero paperwork

IRDAI-approved insurers

Option to upgrade to a comprehensive bike insurance plan

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FAQs Bike Insurance Add-Ons

Q.1 Can I buy engine protection cover for an old bike?

Ans:It's usually offered for bikes up to 5 years old, but some insurers may extend this depending on the bike's condition.
Q.2 Is it necessary to buy add-ons with two-wheeler insurance?

Ans: No, but add-ons provide extra protection and are highly recommended for better financial security.
Q.3 What is the most important add-on in bike insurance?

Ans: Personal Accident Cover is mandatory and crucial, while Zero Depreciation and Return to Invoice are top recommended add-ons.
Q.4 Can I add these covers after purchasing my bike insurance?

Ans: Yes, most insurers allow adding covers during policy renewal or mid-term (subject to terms).
Q.5 Do add-on covers increase premium a lot?

Ans: Not significantly. Add-ons slightly increase your premium but provide excellent value during claims.
Q.6 Is zero depreciation cover available for old bikes?

Ans: Typically, it's available for bikes up to 5 years old, but some insurers may offer it beyond that under certain conditions.