Bikes are a common means of transportation in India due to their affordability and easy accessibility, even in heavy traffic. However, the increasing number of two-wheelers on Indian roads also raises concerns about their protection against unforeseen mishaps.
Responsible bike owners prefer to insure their vehicles with a comprehensive insurance policy, which covers both third-party liability and their damage. Moreover, with add-ons like zero-dep cover, consumable cover, and tyre protection, you can tailor the insurance benefits to your specific needs.
Here’s more on it!
What are Bike Insurance Add-ons?
Add-ons, as the name suggests, are additional coverage available with a comprehensive bike insurance policy. Policyholders can purchase them by paying an additional price with their basic premium and receiving extensive insurance coverage tailored to their requirements.
Add-ons provide coverage for specific aspects not covered by the standard policy. You can choose add-ons based on your driving needs to enhance the coverage of your bike insurance policy. Avoid buying unnecessary add-ons to avoid paying a huge premium.
Top 8 Add-on Covers that Can Extend the Benefits of Your Bike Insurance Coverage
Here are some of the best add-ons that can help customise your insurance coverage as per your specific needs:
● Return to Invoice Cover
This add-on covers the entire expense of your invoice, including registration fees and road tax. Thus, if your bike is damaged beyond repair or gets stolen, having this add-on will help you get full coverage. The insurance company will cover the total cost of the insured bike, allowing you to purchase a similar vehicle in its place.
● Bumper-to-Bumper Cover
The value of your two-wheeler depreciates due to daily wear and tear, which can impact your insurance coverage in the long run. With this add-on, you can claim the full value of the repair and replacement costs at the time of settlement without any depreciation being charged.
As it covers your vehicle without considering the depreciation in its value, it is also called zero-depreciation insurance cover. Purchasing this add-on ensures that you don’t have to bear any additional expenses out of your pocket while settling the insurance claim.
● Roadside Assistance
This add-on provides 24/7 emergency service in case your bike becomes stuck unexpectedly. From minor technical repairs, vehicle jumpstarting, fuel assistance, and tyre replacement to towing it to the nearby garage, everything is covered under this add-on.
● Engine & Gearbox Protection Cover
Your vehicle’s engine accounts for almost 40% of its total cost. Thus, any minor damage to the engine can be costly. In a comprehensive vehicle insurance policy, you can only get coverage against accidents, theft, or natural disasters.
However, when you customise the standard policy with an engine and gearbox protection cover, you can get coverage against engine and gearbox damage. It also covers damages caused to the engine and gearbox after an accident due to lubricating oil leakage, water regression, etc.
● Tyre Protect
This add-on covers two-wheelers with run-flat technology, reimbursing costs for replacing damaged tyres, labour, and wheel balancing. Claims are subject to conditions outlined in the vehicle insurance policy, ensuring specific terms are met for coverage eligibility.
● Daily Conveyance Benefit
This add-on compensates policyholders for transportation costs while their bikes are under repair. Compensation can be a fixed daily allowance or taxi coupons, subject to applicable time excess, helping cover travel expenses during the repair period.
● Consumable Cover
Consumables are the minor components of your two-wheeler that play a crucial role in its operation. These include grease, engine oil, bolts, nuts, lubricants, and other similar materials. A consumable cover provides an additional layer of protection, covering the cost of replacing or repairing these consumables that have been damaged during an accident.
● EV Shield Add-on Cover
The EV Shield add-on for electric two-wheelers in India covers losses or damages to the electrical panel, vehicle charger, and charging cable. It also offers EV-specific roadside assistance, ensuring comprehensive protection tailored to electric vehicles’ unique needs.
What are the Benefits of Buying Add-on Covers with a Comprehensive Bike Insurance Policy?
Here are some of the benefits of buying add-ons with your comprehensive bike insurance:
● Offers 24/7 Breakdown Assistance
Add-ons like roadside assistance protect your vehicle, offering mechanical assistance anytime, anywhere. They allow you to seek the assistance of your insurer when your bike breaks down due to a flat tyre, battery issues, etc. They also tow your bike to the nearest garage if the damage cannot be repaired on-site.
● Helps Retain NCB (No Claim Bonus)
NCB is a discount offered to a policyholder by the insurer during policy renewal, typically on account of no claims made during the policy tenure. With add-ons, you don’t need to make frequent insurance claims, as the relevant aspects are already covered. So, it increases the chances of retaining a higher NCB.
● Protects Your Bike Against Depreciation
Depreciation reduces the value of bike parts over time. During claims, insurers don’t cover depreciation costs, leaving you with additional expenses. A zero-dep add-on eliminates this burden, ensuring full coverage without deducting depreciation, thus saving you from extra repair costs.
● Coverage for Death and Disability
A personal accident cover is mandatory as per law, providing a maximum of ₹15 lakhs coverage against the bike owner’s death or disability. However, to extend coverage for passengers or close relatives, you can avail yourself of PA cover add-ons.
Bike insurance add-ons can significantly enhance the value of your policy by providing tailored protection against various risks. Choosing the right add-ons, such as roadside assistance, zero-dep, consumable cover, etc., can ensure comprehensive financial security and peace of mind while riding. These add-ons are worth considering, as they can maximise your insurance benefits and minimise out-of-pocket expenses.
Also Read: Zero Depreciation vs Comprehensive Bike Insurance: What’s the Smarter Choice for You?
