Top 5 Add-On Covers for Bike Insurance

Why Do You Need Bike Insurance Add-on Covers?

An add-on cover will help you customize your bike insurance policy in a better way. Some of the reasons why choosing an add on cover is important with your two wheeler insurance policy are listed below.

• Enhanced Coverage: Add-ons offer additional coverage and extra protection for the policyholder. This allows you to avoid being caught up with unplanned financial liabilities due to any unforeseen situation.
• Personalised Customisation: You can choose the add-ons based on your riding habits and other requirements or location. Add-ons help you to tailor your bike insurance policy as per needs and get the best coverage at the best price.
• Peace of Mind: Since the enhanced coverage provides an extended layer of protection for your bike, you not only remain well secured but can also ride your vehicle with sheer peace of mind.

Underrated Add-Ons To Choose With Your Bike Insurance Policy

In India, having a third-party bike insurance policy is compulsory. However, for better coverage, you can always opt for an own damage (OD) or a comprehensive bike policy. If you choose an OD or comprehensive bike insurance you can also include several add-ons that will enhance the policy coverage at an additional premium.

The following section highlights some add-ons that will help you in enhancing your policy coverage. They extend the policy coverage, making your existing bike insurance plan more valuable at a reasonable premium cost. Choose your add-on covers wisely, and enjoy the ride.

1. Mandatory Personal Accident Cover

   As per the Motor Vehicle Act 1988, it is mandatory for all bike owners to have a mandatory personal accident cover. Whether you have a TP bike insurance or a comprehensive bike insurance, it is mandatory for you to add the compulsory personal accident cover that will provide a coverage of up to ₹15 lakh in case of death, injury, or disability of a third party person.

2. Zero Depreciation Cover

   Every type of two-wheeler is subject to regular wear and tear over time. Due to this loss, your vehicle parts are subjected to recurring depreciation. Whenever you raise a claim to repair your insured vehicle, depreciation is deducted while calculating the final settlement. To avoid the same, you can opt for the Zero Depreciation(Bumper to Bumper or Nil Depreciation) add-on cover. With this add-on, the insurer will not deduct depreciation while settling your accidental claims.

3. Roadside Assistance Cover

   A 24x7-Roadside Assistance Cover (RSA) is an add-on to avail help in case your bike faces a mechanical or technical breakdown in the middle of the road anytime. It can be availed 24/7 by calling your insurer and providing all incident details. This add-on cover becomes crucial for riding in remote areas or if you daily ride for a long-distance. Furthermore, you also get bundled services with the cover, including towing the vehicle to the nearest garage, fuel delivery in case of emergencies, tyre replacement, accommodation arrangements, alternative travel, and repairing any minor damages on the spot.

4. Return to Invoice Add-on Cover

   Your new bike not only carries a high risk of being damaged in an accident or a collision on the road, but it also has a probability of being stolen. In such a situation, having a valid comprehensive bike insurance with the return-to-invoice add-on cover will help you claim the invoice amount you paid while purchasing the bike. In case your bike is declared as 'non traceable' by the police after a theft or if your bike is damaged beyond repair (damaged beyond 75% of its value), the insurer will refund the complete amount mentioned in the vehicle's invoice.

5. Engine Protection Cover

   The engine protection cover is another add-on cover that can save you quite a few bucks in case of a mishap. The engine is one of the most important mechanical parts of any vehicle. While a comprehensive bike insurance plan provides holistic coverage, it does not cover damage to your bike's engine or gearbox.
   Hence, with this add-on cover, you are protected against any damages occurring to your engine or gearbox, irrespective of whether you are caught up in an accident or not.

6. Consumables Cover

   Whenever your damaged bike goes to a garage, many items known as consumables are used to repair the ascertained damages. Such consumables include screws, nuts, bolts, bearings, clips, engine oil, gearbox oil, oil filter, distilled water, etc. The consumables can add a significant amount to the bill. Under a basic bike insurance plan, insurance companies do not compensate for this amount. However, you can save on the cost by opting for the consumables add-on cover. With this cover, the insurer bears all the costs of the consumables used in the repairing process without hurting your pocket.

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