Bike insurance is a product that you can purchase within minutes. You can do so from your smartphone or laptop/desktop. The cost can be managed if you spend some time comparing bike insurance and selecting the appropriate cover. Choosing an add-on cover is a big part of the premium of the coverage that the insurance provides.
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In this article, we will explore how choosing add-on covers will benefit and add value to your bike insurance policy.
What are add-on covers?
An Add-on is a cover you can buy in addition to your comprehensive bike insurance policy. These covers cannot be purchased with a basic third-party liability policy. Therefore, Add-on covers are an added layer of protection that ensures extra coverage for your bike.
Five Add-on Covers You should not miss
Zero Depreciation
Every bike is subject to regular wear and tear with time. As a result, your two-wheeler parts can get subjected to recurring depreciation. Therefore, whenever a policyholder claims an amount to repair their vehicle, this amount of depreciation is deducted while calculating the final settlement to be paid by the insurer.
This is where a Zero Depreciation add-on cover comes to the policyholder’s rescue. This add-on can mitigate the extra financial burden due to the depreciation of your bike’s party by omitting the deduction. Hence, at the time of claiming the insurance, your insurer will pay the bill for the damage without considering the depreciation percentage levied on the bike parts being replaced or repaired.
Roadside Assistance Cover
The roadside assistance cover helps you call for mechanical assistance wherever and whenever you face a bike-related technical or mechanical breakdown. This assistance can be availed 24/7 by calling the insurer and providing them with details of the incident.
This add-on cover becomes highly crucial if you drive in remote areas with little to no mechanical service support and want to avoid the worry of any unforeseen situations involving the bike’s mechanical breakdown.
Gearbox and Engine Protection
This is another vital add-on that covers comprehensive insurance. The engine is the heart and brain of any vehicle and is practically the most important mechanical part of the bike. While a comprehensive bike insurance plan provides holistic coverage, it does not cover damage to your bike’s gearbox or engine. Hence, you get to avail protection against any damage to your engine or gearbox, even in the case that you are caught in an accident with this add-on cover. * Standard Terms and Conditions apply
ROI on Add Cover
Your bike carries a high risk of being caught in an accident or a collision on the road, being a vehicle in a public space, but it also brings with a probability of being stolen. In such a situation, if you possess valid comprehensive bike insurance and have the return-to-invoice add-on cover, you will be eligible to claim the Insured Declared Value (IDV) of the vehicle if the vehicle is nowhere to be found by the police. The police will then issue a certificate to be used for claiming monetary compensation for the stolen vehicle.
Moreover, if your bike is caught in an accident and has been damaged beyond repair, insurance companies will refund the total amount mentioned in the vehicle invoice. * Standard Terms and Conditions apply
Loss Of Accessories
People nowadays adorn their bikes with many accessories such as Bluetooth devices, a set of grills, fancy lights, and seat kits. Unfortunately, these adornments can get damaged or lost during an accident. This add-on cover can reimburse you for your bike's ruined electric and non-electric accessories.
These are five add-on covers that you must not miss when buying the bike insurance policy. A general insurance company such as Bajaj Allianz General Insurance Company provides the best add-on covers that can add more value to your vehicle insurance policy.
* Standard T&C Apply
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.
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