While the bike insurance plans provide a good amount of coverage, you can always get more benefits through Add-on covers. This is where the add-on covers for bike insurance come in handy. But what exactly are add-on covers in bike insurance and why do we need them? Let’s find out.
Understanding the Bike Insurance Add-ons
The add-on covers, also known as riders in bike insurance, are extra covers that you can purchase at an extra cost like toppings on a pizza. They can be clubbed with the base policy but cannot be taken separately.
So, you can get a rider along with a comprehensive two-wheeler insurance plan or a standalone own-damage policy. However, the add-ons are not available with third-party bike insurance plans.
The add-on covers for bike insurance push up the overall cost of the policy, but they offer greater coverage, which proves to be beneficial in the long run.
The best riders to consider when you buy a two-wheeler insurance
As stated, there are some very handy riders on offer from almost every motor insurance company in India. The best bike insurance add-ons are:
Zero Depreciation Cover
The zero depreciation cover is one of the most common add-on bike insurance covers. Here, you get coverage against the bike's depreciation. Every vehicle, along with its parts, depreciates in value as it ages. But when you buy this rider, you get the full claim amount each time. The zero depreciation rider is a very useful rider and helps to protect your finances in the long run.
The engine, which is perhaps the most important component of the bike, isn't usually covered under a regular bike insurance plan. If your engine gets damaged due to water seepage, following an accident or due to any other technical or mechanical snag, you will have to get it repaired out of your own pocket. However, when you have the engine protection add-on, the bike insurance plan covers the engine too and keeps your bike comprehensively secured.
Coverage for Pillions
The passenger travelling on your bike, also known as the pillion, requires insurance coverage too. This is why you should consider getting the passenger protection add-on cover. If your pillion dies in an accident or is badly injured, a sum assured will be paid out as per the clauses of this rider.
Roadside Assistance Cover
When your bike breaks down in the middle of the road, it becomes very inconvenient for you. With this rider in place, all you have to do is call your insurer and a motor mechanic will reach you at the earliest. If repairable, he will fix the problem then and there and you will be on your way again. If the problem is more severe, he will get it towed to the nearest garage and fix it. All this happens free of charge and at a quick pace, so you are assured of the assistance you need if you face an issue while riding your bike.
And last but not the least, consider getting the consumable cover rider in bike insurance. Many parts of the two-wheeler, such as the nuts, bolts, lubricants, engine oil, etc are categorised as consumables. As is evident, these are key components of the bike. However, if you need to change or repair them, you cannot make a claim. The consumables are not covered in a standard bike insurance plan, so consider getting the consumable cover rider. Consumables will require servicing, so it makes a lot of sense to get this rider.
These are the best riders available along with the basic Bike Insurance Plans. Understand the scope of each coverage and then buy the suitable ones.
The insurance needs of a person are individualistic and so, every bike owner has a unique requirement. This is why you need to evaluate your needs and find the best riders. See what your bike insurance covers and what extra covers are needed. Not every single rider may be of use to you, so evaluate and assess when you buy two wheeler insurance along with the add-on covers. Also, keep the budget in mind and choose a pool of riders that would suit your finances as well.