Purchasing a simple, mandated by the law, bike insurance policy for the model in your garage should be enough worry at most times. But such is not the case when your bike is, in fact, a super bike. Then it is safe to assume that your primary super bike insurance policy cover needs a cover or may be more. Coverfox is the perfect place to learn all about the various add-on plans for super bikes. Here is how you can get the best of the add-on coverage so that it stops being an additional expenditure and instead functions as an advantage.
Bike insurance for super bikes, such as a mean machine like a KTM or a Ducati, can inspire fear in the hearts of the bravest. It is no longer a simple decision of making a choice of what bike insurance service provider to trust with your bike, negotiate the best (or the lowest) premium for the most appropriate insurance plan and you are ready to rest your worries.
Separate Add-ons for Bikes Versus Super bikes?
Super bikes need very super specialist bike insurance policies that provide adequate coverage than an average, standard bike policy purchased off the rack. Most times the exceptions to this basic policy are not minor enough for you to turn a blind eye to.
On top of it, without fail, all industry experts will advise you also to purchase extensive, value added, customized coverage on top of the basic layer provided via add-on plans.
Over and above the mandatory third party cover that underwrites the insured from third party liabilities in case of damages or death, and those related to the optional but vital personal accident and own damage covers (critical to compensate for repair costs and provide financial support in the event of any incident), such add-on protection also insures your bike against many different kinds of mishaps, minor and major.
Remember that add-on car insurance covers offer extensive coverage with maximum benefits for nominal costs. While there are several add-on policies to choose from such as Key Replacement, Daily cash allowance, Hospital Cash, and Consumables cover, you have to be sure of exactly which add-on it is that caters to your exact needs.
Here is as comprehensive a list as it gets of add-on covers for your super bike insurance.
Zero Depreciation Add-On
Known by several names such as Bumper to Bumper cover and Nil depreciation, this most popular add-on has an excellent reason for its popularity. It is vital, especially for super bike insurance purposes, as it plugs a very significant hole in the mantle of the standard bike insurance coverage provided.
Namely, regular wear and tear of the bike and its normal depreciation (which would amount to quite a tidy sum for your super bike) is not covered by the comprehensive bike insurance policy, but only under a zero depreciation policy.
When you make a claim, your bike insurance provider necessarily deducts a sum equivalent to the wear and tear and standard depreciation of the super bike before reimbursing the rest of the claimed amount.
With Zero Depreciation add-on cover, you will receive the full claim without any such deductions for depreciation. Good reason to opt for it?
If you rely quite a bit on your super two wheeler, a daily cash allowance cover would be an important add-on for you. In the event that your bike is severely damaged and requires extensive repairs, you may be left to fend for your daily commute on your own.
In such a situation, if you have opted for this bike insurance cover, you are eligible for daily cash allowance on pre-decided terms and conditions.
Cover for Pillion Rider Add-On
Having this add-on cover in your kitty goes to shows how much you care for your pillion rider and how much you are prepared to protect him or her in the event of tragedy, leading to disability or death. Any pillion rider is protected under this cover, and if it generally your loved ones, do opt for this cover.
Since it is your super bike, we are discussing here, insure it well so that you can use it over a long, hassle-free time.