Best Add-on Covers For Bike Insurance

Buying a third-party liability insurance policy for your two-wheeler is a cheaper but it provides a very basic coverage

Hence, securing your bike financially with a comprehensive coverage along with the necessary add-ons, in the event of a mishap, is a must. Read on to know how!

What is a Bike Insurance Policy?

A bike insurance policy is a contract between an insurance company (insurer) and the owner of the two-wheeler (policyholder). Wherein, the insurer will bear the cost of repairing the damages caused to the insured bike in exchange for a premium paid by the policyholder.

What Is a Bike Insurance Add-on?

Unforeseen events can bring hiccups in your bike-riding journey. They can lead to financial, legal, and emotional setbacks. Herein, comes the role of add-ons that ensure you a smooth-ride. 

An add-on is an extra cover that you buy for a better financial protection for your two-wheeler during loss and damages.

Different add-ons have different costs that could add to your basic premium amount. The more the number of add-ons, the higher would be the premium. But since they provide an extra layer of protection, they cover you better against financial uncertainties in the event of an accident or mishap.

Best Add-On Covers for Bike Insurance

There are various types of add-ons available for a bike insurance policy that you can choose from. Let us put light on a few of them:

Zero or Nil Depreciation cover

As you must be aware, the value of your two-wheeler and its parts reduces every year due to wear and tear. Hence, the insurance company usually pays a reduced amount of the claim taking into consideration the depreciation factor. 

However, a Zero depreciation bike insurance cover compensates you for almost the entire claim regardless of the depreciation of your two-wheeler. Thus, providing protection against a reduction in the asset value of your bike.

Passenger Cover

Bike accidents can be fatal for both the rider and the pillion. There are chances of some serious injuries and even death. While the rider is covered against death and disability in a standard comprehensive policy, opting for a passenger cover will provide accidental cover against full or partial disability/death of the pillion rider as well.

Accessories Cover

Are you one of those two-wheeler owners who like to add fancy accessories to their two-wheeler? If yes, then you need to opt for an accessories cover that shields you against any damage or loss to those valuable accessories. Just ensure you provide the value of those accessories at the time of policy purchase.

Return to Invoice cover

Return to Invoice (RTI) is an add-on which bridges the gap between Insured Declared Value(IDV) and the invoice value of your bike. It’s an option that may fetch you the amount mentioned on the invoice of your bike in case of total damage or theft. It basically covers the on-road price i.e. the registration charges and the road tax that you paid for your bike.

Medical cover 

In the event of an accident, the medical expenses are usually unaffordable. Hence, a medical cover is an essential add-on to your two-wheeler insurance plan. This cover helps to cover the costs related to a medical treatment caused by an accident.

So, have you identified a gap in your two-wheeler coverage already? It’s time to fill the same with a necessary add-on! Please stop neglecting your need for insurance. Pay a little extra for an add-on cover and make yourself stress-free. Trust us, it is worth it!

Thus, add-ons in your insurance policy are very good as they help to cover the least expected expenses following any mishap. They ensure your peace of mind by letting you hand over all likely accidental expenses to the insurer. So, include the above add-ons to your bike insurance policy and make your riding experience even more power-packed and safer.

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