A bike is one convenient way of commuting to nearby areas. It provides ease of travelling to your college or workplace or for your day-to-day tasks. Owning a vehicle offers a sense of freedom and convenience. With all these conveniences and facilities, risk is also involved in bike riding.
Bike insurance is a way to protect you from loss or damage caused to your bike. However, a standard bike insurance policy may not fulfil your coverage needs. For this, insurance companies facilitate add-on covers for two-wheeler insurance. This article delves more into them and the five best to prioritise.
What are Add-on Covers in Bike Insurance?
While basic insurance covers damages and loss caused to the third party, bike, or both, several extended perquisites are projected according to your requirements. These paid advantages are called “Add-on covers” in bike insurance.
These act as riders or endorsements beyond a standard bike insurance policy. If you have comprehensive bike insurance and own damage or standalone bike insurance, you can apply for add-on insurance covers.
Five Important Add-on Covers to Include In Bike Insurance
Since insurance companies provide so many insurance drivers to the consumer, at times it gets hard to decide a few good out of them. Out of all the add-on covers that a two wheeler insurance provider offers, let us have a look at the top five insurance add-ons and their importance below:
Zero Depreciation Cover
Over time, bike parts generally experience wear and tear, leading to depreciation. The zero depreciation cover, also known as a nil depreciation cover or bumper-to-bumper cover, means a value add-on to make sure that the bike insurance policy claim isn’t affected by the depreciation of the vehicle.
It simplifies that if any damage is caused to the vehicle, the insurance company will provide the cost of repairing or replacing the damaged parts without deducting the depreciation due on it.
Roadside Support Protection
Sometimes, due to environmental changes, two-wheeler functionality defects, or any other uncertain causes, your bike may fail during the ride. This can lead to loss of time and servicing charges.
Roadside assistance cover includes 24/7 assistance for such loss caused to the owner. Generally, this cover is valid when you ride for long journeys or in a remote area. This insurance driver can be applied for to have a good riding experience.
Consumable Accessories Cover
Basic insurance often overlooks the coverage of consumable accessories such as nuts, lubricants, and screws. While this might seem like a minimal part of the bike, keeping your bike running smoothly is necessary.
It is a crucial add-on to the insurance policy as these parts constitute the work mechanism of the two-wheeler. This insurance add-on will recover the loss or amount spent on renewing or replacing these consumables in the event of damage caused to them.
Safety of the Engine
The “safety of the engine” is like a safety net for your bike’s engine. Suppose your bike’s engine is damaged for any reason not covered under your standard insurance policy.
This cover will help you pay for repair or replacement with certain terms and conditions attached to it. It is wise to have this insurance cover if you live in an area prone to heavy rains or waterlogging.
Passenger Cover
This cover is about caring for those who ride with you. Passenger protection provides financial protection to the person sitting behind you (called a Pillion) in the event of an accident.
If there is an injury or something worse, this cover can help with medical expenses or compensation, as the case may be. This can be vital to your peace of mind when someone else is riding with you.
How to Apply for Add-on Covers in Bike Insurance
- Contact your insurer: Contact your insurance provider. This can be done in person, on the phone, or online for an offline/online two-wheeler policy.
- Review your policy: Check out your current insurance policy and note what is covered or not.
- Choose your Add-ons: You must determine your add-ons based on what you want to cover. These add-ons can include covers like the safety of the engine, passenger cover, etc.
- Update your policy: The insurer will then update your policy to include all these add-ons.
- Confirmation: Ultimately, you will get confirmation of the updated policy, which you must keep safely.
Conclusion :
You can enhance your riding experience with your two-wheeler if you incorporate these five essential add-on insurance riders. Choosing all or some of them depends on the bike owner’s choice.
Each add-on cover in two-wheeler insurance has its characteristics and advantages. You must be careful while choosing them while applying for bike insurance online. Leading insurers like Tata AIG offer a variety of two-wheeler insurance add-on covers at affordable costs. Check and compare prices with known insurance providers to get the best facility at a reasonable cost.
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