In India, it is mandatory to insure a two-wheeler with a bike insurance policy. Today, investing in a bike insurance policy is easy. You can now sit at home to select the best coverage plan with suitable bike insurance add-ons for your two-wheeler. To find the best deal, you can use a two wheeler insurance premium calculator.
However, you must know what the function of add-ons is in a policy and how they impact your two-wheeler’s overall value. It will help you ensure the best possible coverage for your bike.
This article explains add-ons in bike insurance and some essential add-ons you can consider. Keep reading.
What are Bike Insurance Add-Ons?
Add-ons, also called riders, are protective layers for your two-wheeler’s additional safety. Add-ons like zero depreciation bike insurance provide extra protection to the overall value of your bike.
These are available across own damage policy and comprehensive policy options. For each add-on that you select, you have to pay an additional premium on your existing policy so that you can enjoy the benefits of that extra protection.
How Add-Ons Impact Insurance Policy
Even though a comprehensive plan offers more coverage than a liability-only plan, it is the entry of insurance riders in the plan that helps you customise your insurance policy for enhanced financial coverage.
Add-ons impact your two-wheeler policy by adding value to your insured bike. However, remember that add-ons increase the premium amount of a policy.
Common Add-Ons that Enhance a Two-wheeler’s Overall Value
- Zero Depreciation Bike Insurance – Even with a comprehensive policy, you cannot obtain the entire claim amount because the insurer subtracts the depreciation value of the bike from that amount. But with a Nil Depreciation add-on option, you can rest assured that no deduction will be made from the claim amount for depreciation.
- Engine Protector – This add-on insurance cover ensures that the expenses involved in repairing your bike’s engine are covered by your insurer. Engine repair can be expensive, and adding this rider can keep you protected from this costly affair.
- Pillion Rider Cover — With this insurance rider, you can ensure that the pillion rider is financially covered when injured in an accident involving your insured bike. It works best for those who often have someone seated behind them on their bike.
- Roadside Assistance —Situations like a flat tyre or fuel exhaust during a long road trip can be difficult. But with this add-on, you will receive roadside assistance for flat tyres, fuel assistance, on-site repairs, etc.
- Consumable Expenses — This is one of the two-wheeler insurance add-on covers that can prove financially beneficial. It covers the expenses of replacing consumables like chain lube, engine oil and brake fluid due to an accident.
- Personal Accident Cover — This is a valuable rider as it protects you from injuries or even fatalities caused by accidents involving your insured two-wheeler.
These bike insurance policy add-ons are popular options that can add immense value to your bike insurance policy.
Conclusion
While no one intends to get involved in an accident, such unfortunate incidents do occur. The best way to prepare yourself for such a scenario is by keeping your bike and yourself financially covered. By including add-ons to your insurance policy, you can enhance your bike’s financial protection and ensure stress-free and secure rides.
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