Here Are Some Bike Insurance Add-Ons That Enhance the Scope of Your Policy

Bikes are an effective way to commute. Be it a mile-munching journey or manoeuvring through congested city traffic, a bike is one of the best means to do it quick. Since a bike is useful in more than one way, it is essential to protect it from damages. To ensure this protection, a bike insurance policy comes handy.

Further, the Motor Vehicles Act makes it mandatory to purchase a bike insurance policy. When you buy one, there are two-fold benefits of legal compliance and protection from damages. Non-compliance to the law can attract hefty penalties. So, it is essential for all bike owners to buy one.

There are two types of policies to choose from—a third-party plan or a comprehensive bike insurance cover.

A third-party policy is the one that is the minimum requirement as per law. Since this policy offers a limited coverage for damages to third-party vehicles or injuries to any third person, your vehicle remains exposed to the risks of an accident. Here’s when a comprehensive policy can help you. With a comprehensive plan, not only the repairs for your vehicle are covered, any natural calamities or man-made perils are also included in its scope. In addition, comprehensive plans can be customised using add-ons to fit your needs that make it just right for you. Here are some of the add-ons that enhance your policy scope:

Zero-depreciation add-on: Among all the add-ons that are available, it is one of the most recommended add-ons. A bike insurance claim considers the depreciation on the vehicle when providing the compensation for repairs. This has and effect of lowering the amount that is paid at the time of reimbursement. With a zero-depreciation add-on, the insurance company no longer accounts for such depreciation and instead pays the entire cost of repairs or replacement required. Considering the popularity of this add-on, many insurance companies offer it as a bundled service with a comprehensive cover.

Engine protection add-on: Monsoon witnesses the highest cases of repairs to vehicles. A common reason for these repairs is water damage to the engine. A standard policy does not include damages to the engine in its scope. To compensate for such limitation, it is advisable you purchase an engine protection add-on. This add-on helps tackle the problems of water ingression and damages to the engine due to fires and other breakdowns.

24X7 Roadside assistance (RSA) add-on: Getting stuck on the road with no access to help can invite unwanted troubles and stress. Using a 24X7 RSA cover, you can be worry-free knowing any breakdowns to your bike, be it a flat tyre, battery drain or other mechanical damage, your insurance company has got your back.

Consumables add-on: Consumables are a type of spares that are required in repairs which include small but crucial components like the fluids, oils, nut and bolts, and other similar components. During repairs, these consumables often push the repair costs higher. With consumables add-on cover, you no longer need to worry to pay for these costs from your pocket even after investing in a solid insurance cover.

* Standard T&C Apply

When you buy add-ons, remember they are optional to your comprehensive insurance cover and thus, increase the bike insurance price. But they enhance the value of your insurance cover and hence must be considered at every two wheeler insurance renewal and purchase. When buying one, remember insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.