Meet Arjun, a passionate bike enthusiast, who recently purchased his dream motorbike. He spends hours maintaining it, making sure it's in top shape, and relishing every ride. However, he realised that his basic two-wheeler insurance policy may not be sufficient to safeguard his beloved property from all potential hazards. Many owners, like Arjun, neglect the importance of supplementary coverage, assuming that their base plan is sufficient. However, to adequately protect your bike from unforeseen disasters, you must opt for two-wheeler insurance add-on covers.
Let's explore the best two-wheeler insurance add-on covers in India that can provide you peace of mind and safeguard your bike.
What is an Add-On Cover in Bike Insurance?
First, let us define what is covered under two-wheeler insurance. A basic plan covers damages due to accidents, theft, and natural disasters. However, it may not fully protect against all expenses. If you want the best motor insurance coverage, adding extra protection is a smart decision.
So, what is add-on cover in motor insurance? It is an additional benefit or feature you can purchase along with your two-wheeler insurance policy. It fills in the gaps in the regular plan and delivers enhanced protection. You can buy them for an extra premium and cover specific risks or damage.
Must-Have Add-On Covers for Bike Insurance
Now, let's look at the best two-wheeler insurance add-on covers to consider when you buy bike insurance online for more protection
Zero Depreciation Cover
Suppose you’re riding and a sudden downpour leads to a minor accident. Your bike has some cosmetic damage, and repairing it is a bigger expense. However, your insurance calculates depreciation, which leaves you with a lower claim amount. This will not be an issue if you have the Zero Depreciation Cover.
This add-on guarantees that the insurance reimburses the full claim amount without considering the depreciation of the bike's components. It is beneficial for new bikes, where the depreciation value is lower but repair costs can still be high, and for owners who want their bike to be repaired fully without paying extra costs out of pocket.
Roadside Assistance Cover
What if you’re stuck in the middle of nowhere with a flat tyre or an engine breakdown? It's a difficult situation, and arranging for help might take hours. This issue can be easily resolved with Roadside Assistance Coverage.
This coverage includes towing, flat tyre repairs, battery jumpstarts and even arranging for a mechanic if you are stranded. Its 24/7 help will make sure that you are not alone in an emergency. This two-wheeler insurance add-on cover is essential for frequent or long-distance commuters.
Engine Protection Cover
For Arjun, who loves taking his bike on adventurous rides, engine damage can be a major concern. Your bike's engine may be damaged due to waterlogging, oil leaks, or some other external factors. Repairing or rebuilding an engine may be costly, and your two-wheeler vehicle insurance may not cover these costs completely.
The Engine Protection Cover will protect your bike's engine and transmission from external harm. This add-on is essential for individuals who live in locations with regular rains or hard road conditions, as well as anybody looking to safeguard their engine.
Personal Accident Cover for Pillion Rider
Arjun’s younger brother, Ravi, often rides with him as a pillion. What happens if, in an unfortunate event, Ravi is injured while riding with Arjun? In such cases, the basic policy might not offer adequate coverage for the pillion rider.
The Personal Accident Cover for Pillion Rider ensures financial compensation for injuries or death caused by an accident. This add-on is crucial for those who frequently ride with a passenger. It enhances the benefits of motor insurance by offering better security for both the rider and the pillion.
Consumables Cover
What if your bike requires engine oil, coolant, or brake pads after an accident? In many circumstances, these are not covered by standard two-wheeler insurance policies. The Consumables Cover reimburses the cost of consumables changed during repairs, offering further financial relief.
It's one of the most underappreciated yet valuable two-wheeler insurance add-on covers in India, particularly for individuals who want their policy to be fully comprehensive.
Return to Invoice Cover
You've paid a huge amount of money for your bike. If it's stolen or completely damaged, your insurer may only compensate you for the market value, which is often less than what you invested. The Return to Invoice Cover fills the gap by covering the whole cost of your bike, including taxes, registration, and any additional accessories you've purchased.
This is essential coverage if you've recently acquired a new bike or have modified your existing one. It assures that you will be reimbursed for the full price you paid for the bike, not just its depreciated value.
Conclusion
Choosing the right two-wheeler insurance add-on covers can make a world of difference in ensuring your bike is fully protected against a variety of risks. They offer specialised coverage that your standard plan might not cover. Take the essential steps now and buy a bike insurance policy online to safeguard yourself and your motorcycle!
When it comes to your beloved bike's future, do not take any chances. If you're looking for reliable coverage, you can buy two-wheeler insurance from Universal Sompo. We provide an assortment of add-on covers to meet your specific needs.
FAQ
Yes, you can buy add-on covers for an old bike, but the availability depends on the insurer’s terms and conditions. Some add-ons, such as Zero Depreciation Cover, may be limited to bikes under a specific age.
Consider your bike's age, use, and potential threats. If you travel long distances, Roadside Assistance Coverage is beneficial. An Engine Protection Cover is required if your location has chances of frequent flooding.
Add-ons are primarily available only during the insurance purchase or renewal process. However, some insurers may accept changes during the policy's term. Check with your provider before making any changes.
Yes, you can claim benefits from multiple add-ons simultaneously if the situation demands it. For example, after an accident, you may claim Zero Depreciation Cover, Engine Protection Cover, and Consumables Cover together.
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