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How to Choose the Right Add-Ons for Your Bike Insurance?

When purchasing bike insurance, understanding the various add-ons available can help you customise your policy to meet your unique needs. These add-ons enhance your basic plan, providing extra coverage and safety net on the road. In this guide, we will...
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When purchasing bike insurance, understanding the various add-ons available can help you customise your policy to meet your unique needs. These add-ons enhance your basic plan, providing extra coverage and safety net on the road.

In this guide, we will explore different add-ons, their benefits, and how to choose the right options to maximise your insurance coverage.

What Are Two-Wheeler Insurance Add-Ons?

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Two-wheeler insurance add-ons are optional coverages you can include in your policy for an additional premium. While they come at an extra cost, these add-ons significantly enhance the coverage of a basic insurance plan. They can be added to both comprehensive bike insurance and standalone own-damage insurance plans, offering you more protection against specific risks.

Types of Add-On Covers for Two-Wheeler Insurance

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Insurance companies offer a range of add-ons to cater to different needs. Here are some of the most common add-on covers available for two-wheeler insurance:

  1. Zero Depreciation Cover

Over time, your bike's parts will depreciate in value. Without a zero depreciation cover, you would have to bear the cost of this depreciation when making a claim. This add-on ensures that you receive the full value of the parts replaced, except for tyres, tubes, and batteries, which may be partially covered. It's a popular add-on that reduces out-of-pocket expenses during a claim, allowing for maximum reimbursement.

  1. Consumables Cover

A consumables cover provides protection for items that are not typically included in a standard two-wheeler insurance policy. This includes parts like screws, nuts, bolts, lubricants, and oils. Even though these items may seem minor, they can add up in cost during repairs. This add-on helps cover these small yet essential components, minimising the financial burden on the policyholder.

  1. Roadside Assistance Cover

If you find yourself stranded on the road due to a mechanical breakdown of your bike, a roadside assistance cover comes to your rescue. This add-on provides services such as towing, fuel delivery, tyre changes, battery jump-starts, and on-site repairs. It's a must-have for those who frequently travel long distances or in remote areas, ensuring help is always just a call away.

  1. Key Loss Cover

Losing your bike keys can be a frustrating experience. The key loss cover compensates for the cost of replacing lost or stolen keys and provides a spare key promptly. This add-on ensures you aren’t left stranded or forced to pay out-of-pocket for new keys.

  1. Passenger Assistance Cover

While most bike insurance policies offer coverage for the rider, they may not provide adequate protection for the pillion rider. The passenger assistance cover extends insurance coverage to the pillion rider, compensating them in case of injury, disability, or death due to an accident. This add-on is a necessary addition for those who frequently travel with a passenger.

  1. Engine Safe Cover

Damage to the engine or its parts can be costly to repair, particularly if caused by waterlogging or other non-collision incidents. An engine safe cover provides financial protection against engine damage, covering the cost of repairs or replacements. This is particularly useful for those living in areas prone to flooding.

  1. Loss of Personal Belongings Cover

If your personal belongings, such as a mobile phone or helmet, are stolen from your bike, this add-on will cover the financial loss. It ensures you are compensated for the value of the lost items, providing added peace of mind while traveling.

  1. Return to Invoice Cover

In case of a total loss or theft of your bike, a standard insurance policy will only pay the current market value, which may not match the original purchase price. The return to invoice cover bridges this gap by reimbursing the full invoice value of your bike, ensuring you receive the complete amount you paid when purchasing it.

  1. Daily Allowance Cover

If your bike is in the repair shop for an extended period, the daily allowance cover provides a daily cash allowance for your transportation expenses. This add-on helps cover the cost of commuting or renting another vehicle while your bike is being repaired.

  1. No Claim Bonus (NCB) Protection Cover

The No Claim Bonus (NCB) is a discount on your insurance premium for not making any claims during the policy term. However, even a single claim can cause you to lose this benefit. With an NCB protection cover, your accumulated discount remains intact, even if you make a claim. This add-on is especially beneficial for those who wish to maintain their NCB despite unforeseen incidents.

  1. Tyre Damage Cover

Tyre damage is common and can occur due to sharp objects, potholes, or accidents. The tyre damage cover protects against expenses related to tyre repair or replacement, including damages from cuts, bulges, or punctures. This add-on ensures that such incidents do not cause a significant financial setback to you.

Benefits of Adding Add-Ons to Your Two-Wheeler Insurance

Opting for add-ons in your comprehensive bike insurance policy comes with several advantages, enhancing your overall coverage. Here are some key benefits:

  1. Enhanced Coverage

Add-ons provide additional protection beyond the scope of a standard insurance policy, ensuring you are well-covered against various risks.

  1. Financial Security

By including specific add-ons, you can minimise your out-of-pocket expenses for repairs, replacements, or losses, offering financial security in case of an accident or unforeseen event.

  1. Peace of Mind

Knowing that you have comprehensive coverage with benefits like roadside assistance or key replacement provides peace of mind while riding, especially in unfamiliar areas or long journeys.

  1. Customisable Plans

Add-ons allow you to tailor your insurance policy according to your needs, preferences, and budget, ensuring you pay only for the coverages you require.

How to Choose the Right Add-Ons for Your Two-Wheeler Insurance

Selecting the right add-ons for your insurance depends on various factors, including your riding habits, location, and risk tolerance. Here are some tips to help you choose the add-ons:

  1. Assess Your Needs

Consider your specific needs and riding habits. If you often travel long distances or in remote areas, roadside assistance and key loss covers might be more relevant. If you live in a flood-prone area, an engine-safe cover becomes essential.

  1. Evaluate the Costs

While add-ons offer valuable coverage, they come at an additional cost. Evaluate whether the cost of each add-on justifies its benefits and fits within your budget. It's crucial to strike a balance between comprehensive coverage and affordability.

  1. Consider Your Bike’s Age and Condition

The age and condition of your bike play a significant role in determining the add-ons you need. For older bikes, covers like zero depreciation may not be as beneficial as for newer models. Conversely, an engine protection cover might be more relevant for newer bikes.

  1. Check the Insurer's Add-On Options

Different insurers offer different add-ons, so compare the options provided by various insurance companies. Visit their websites or consult with their agents to understand the specific add-ons they offer and choose the ones that suit your requirements.

  1. Factor in the Weather Conditions

If you live in an area with extreme weather conditions, such as heavy rain or snow, consider add-ons like engine safe cover and tyre damage cover. These will protect you from weather-related damage.

Conclusion

Choosing the right add-ons for your two-wheeler insurance is crucial to ensure comprehensive coverage and peace of mind. By assessing your needs, evaluating costs, and considering your bike’s age, you can select the most relevant add-ons for your policy. This way, you can ride confidently, knowing you are well-protected against unforeseen circumstances.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

Disclaimer: This article is part of sponsored content programme. The Tribune is not responsible for the content including the data in the text and has no role in its selection.

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