Types of Riders & Bike Insurance Add-ons

Understanding the Basics: Two-Wheeler Insurance Policy

A two-wheeler insurance policy is a financial safety net that protects your vehicle against unexpected risks such as accidents, theft, fire, natural disasters, man-made calamities, etc. It also covers third-party liabilities, which means if your bike causes damage to another person's vehicle, property, or results in injury/death, the insurance company takes care of the legal & financial expenses.

Types of Two-Wheeler Insurance Plans

• Third-Party Bike Insurance (mandatory): It covers liabilities toward third-party injury, death, or property damage caused by insured bike in a road accident. However, it does not cover damages to your own bike.
• Comprehensive Bike Insurance: This policy includes third-party liability plus own damage. It means your bike is covered against various risks such as accident, theft, fire, natural or man-made disasters, etc. 
• Standalone Own Damage Bike Insurance: It covers damage to your bike against various unforeseen circumstances but can only be obtained with third-party bike insurance coverage. 

For most riders, a comprehensive bike insurance plan is the default best choice. It protects against both liabilities and harm to your bike. But a basic policy covers the all the damages without any coverage gaps? That's where add-ons come into the picture. 

What Are Bike Insurance Add-ons & Why They Matter?

Bike insurance add-ons are optional coverage which works as an extension to your insurance coverage and acts as a gap filler in your policy. These are quite budget-friendly and highly customizable. Here are the popular add-on covers available with a 2-wheeler insurance policy: 

• Zero Depreciation Cover
• Engine Protection Cover
• Roadside Assistance Cover
• Consumables Cover
• Key Loss Cover 
• Return-to-Invoice (RTI) Cover 
• Tyre Protection Cover 
• NCB Protection Cover
• Passenger Cover (Pillion Rider Cover)

Rider Profiles in India & Recommended Bike Insurance Add-Ons

Find the different types of rider profiles in India on the page below, along with the recommended bike insurance add-ons: 

Rider Profiles in India & Recommended Bike Insurance Add-Ons

Find the different types of rider profiles in India on the page below, along with the recommended bike insurance add-ons: 

1. The Slow, Safe Commuter

   • Who they are: Scooter or commuter bike rider, follows traffic rules and avoids risky manoeuvres.
   • Bike insurance needs: Basic comprehensive two-wheeler insurance is generally sufficient along with a few add-ons.
   • Cost-benefit: You save on premium by following safe habits reward you through NCB or No Claim Bonus. 

2. The Traveller / Adventure Rider

   • Who they are: Long-distance & offbeat road enthusiast, often travel in unfamiliar locations.
   • Risk zones: They can face electrical or technical breakdown or mishaps far from help.

3. Recommended Add-ons: 

   • Roadside Assistance Cover: It includes services like towing, fuelling, flat tyre fixing, etc., 
   • Key Loss Cover: It covers key or lock replacement when lost during a trip.

4. The Fast/Sporty Rider

   • Who they are: They are the owners of high-performance bikes who enjoy speed and twisting urban roads.
   • Risk areas: With expensive engine or spare part, it becomes difficult to fix them on your own. 

5. Recommended Add-ons:

   • Engine Protection Cover: It covers engine failure due to oil/coolant leaks and water ingestion, which are common problems. 
   • Consumables Cover: It covers items like oil, nuts, lubricants, etc., as they are excluded from the basic comprehensive bike insurance policy. 
   • Zero Depreciation Cover: It help in avoiding deduction due to wear and tear on replacement parts of the damaged bike’s parts in an accident. 

6. The New Rider (Newbie)

   • Who they are: These are the beginners who are still mastering controlling and balancing prone to drops or minor mishaps.
   • Risk zones: Scratches and fall-back damage to body panels are the common problems faced by the newbie riders. 

7. Recommended Add-ons:

   • Roadside Assistance Cover: Get emergency assistance services in the middle of the journey. 
   • Return-to-Invoice Cover: If the insured bike is totalled, you get full invoice value, not the depreciated IDV. 
   • Zero Depreciation Cover: It help in avoiding deduction due to wear and tear on replacement parts of the damaged bike’s parts in an accident. 

8. The Luxury or Daily Commuter

   • Who they are: These are the owners of premium bikes or daily commuters with high usage.
   • Risk areas: Expensive cosmetic or accessory damages, part replacements.

9. Recommended Add-ons:

   • Zero Depreciation Cover
   • Engine Protection Cover 
   • Consumables Cover
   • Key Loss Cover 
   • Return-to-Invoice Cover

Choosing the Right Bike Insurance Add-ons: A Quick Checklist

Tips to Keep Premiums in Check

Even with bike insurance add-ons, there are smart choices can help you in saving your premium:

• Correct IDV: Avoid over- or under-valuing your bike when selecting IDV. A lower IDV lowers premium but limits claim.
• Voluntary Deductible: If you agree to pay a part of the claim yourself (voluntary deductible) to lower premiums. 
• Use NCB: Don't claim for minor damages, instead retain your No-Claim Bonus to get discount on during the policy renewal. 
• Anti-theft Devices: Installing ARAI-certified anti-theft devices lowers bike insurance premiums.

Wrap-Up!

Comprehensive bike insurance is the foundation, but tailor it with add-ons designed for your riding style depending on the type of rider you are. These affordable extras pay off in real-world scenarios, offering true protection and peace of mind.