Two Wheeler Insurance Add-ons

What Is a Two-wheeler Insurance Add-on Covers?

Two-wheeler insurance add-on covers are additional coverages which can be availed with comprehensive as well as standalone own-damage two-wheeler insurance plans. The bike insurance add-on covers are available for an additional premium but are worth the cost as they significantly enhance the coverage of a basic plan. Two-wheeler insurance add-ons are just like an icing on the cake which strengthens the coverage of your two-wheeler. There are a variety of bike add-on covers which can be opted along with the two-wheeler insurance plans. Some of them are zero depreciation, passenger assistance cover etc.

Types of Add-On Covers in Two Wheeler Insurance

The availability of two-wheeler insurance add-ons varies from one insurer to another. The following are some add-on covers in two wheeler insurance that a general insurance company provides to its customers:

1. Zero Depreciation Cover

Depreciation is a natural phenomenon that occurs with the passage of time. By default, the burden of bearing the cost of depreciation incurred by a two-wheeler rests with the vehicle’s owner. A zero depreciation cover helps you mitigate this burden of bearing the depreciation cost of your vehicle so that you can claim a bigger amount. Most of the insurers allow the policyholder to make a maximum of 2 zero depreciation claims, however, some insurers such as IFFCO Tokio General Insurance, Royal Sundaram General Insurance Company and New India Assurance Company allow unlimited zero depreciation claims during the policy tenure.

2. Consumables Cover

Consumables Add On Cover in two wheeler Insurance provides coverage for all the consumable items of a bike such as a grease, lubricants clip, bearings, fuel filter, oil filter, brake oil, nut and bolt, screw, etc, which are not usually covered in a standard own-damage insurance policy.

3. Roadside Assistance Cover

Roadside assistance cover add-on cover in bike insurance provides assistance services to the insured in the event of the breakdown of his/her vehicle. The services include towing service to the nearest garage, on-site repair services, assistance in case of loss of keys, changing flat tyres, fuel delivery, etc.

4. Key Loss Cover

Key Replacement Add-On in two wheeler insurance makes the insurance company liable to compensate the policyholder for the loss of key(s). It also provides a spare key in the minimum possible time.

5. Passenger Assistance Cover

Passenger Cover in bike insurance It is a bundled cover which includes Hospital Allowance, Medical Expenses and Medical Transport Assistance to the policyholder in the event of an accident.

6. Engine Safe Cover

Engine Protection cover allows the policyholder to get coverage for expenses incurred due to mechanical/electrical breakdown of the engine due to an oil spill or water ingression.

7. Loss of Personal Belongings

With this add-on, the insurer compensates the policyholder for the loss of personal belongings such as the articles or other items of a personal nature which are likely to be used, carried or worn.

8. Return To Invoice

Return to Invoice cover allows the policyholder to get full invoice price of your vehicle in case the insured’s vehicle suffers Total Loss, Constructive Total Loss (CTL) or theft.

9. Daily Allowance

By opting for this add-on the policyholder gets a daily allowance from the insurer when the two-wheeler is lost or is out for repairs.

10. Protection of NCB

This add-on helps the policyholder retain the No Claim Bonus discount even if he/she had filed a claim in the last policy tenure. NCB is the discount which a policyholder gets on the own-damage premium for every claim-free year.

11. Tyre Damage Cover

Tyre Protection Add-On in two wheeler insurance provides cover for damages such as puncture or bursting of tyres, in-tyre bulge, cut on a tyre due to an accident, etc.

Benefits of Two-Wheeler Add-on Covers

Add-ons provide various benefits which are as follows:

1. Additional Protection

Two-wheeler add-ons provide extra benefits to your vehicle in addition to your existing basic bike insurance policy.

2. Peace of Mind

Add-ons provide wider coverage and a better amount of compensation to the bike owners. Thereby providing peace of mind and stress-free driving.

3. Helps in Customization

Bike insurance add-ons help in customisation of the insurance policy as per the requirements of the policyholder.

Read more: Use Bike Insurance Calculator to calculate the premium for your bike insurance policy along with these add-ons.