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.

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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.

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Two Wheeler Insurance Add-ons FAQs

  • What is an add-on in two-wheeler insurance policy?

    In two-wheeler insurance, add-on covers refer to additional coverage which can be purchased to extend the coverage of a standard plan against the payment of an additional premium. These add-ons can be purchased with comprehensive bike insurance plans as well as standalone own-damage bike insurance plans. Some popular bike insurance add-ons include zero depreciation cover, road side assistance cover, engine protect, etc.

  • Is there a limit on the number of add-ons I can purchase?

    No, there is no limit on the number of add-ons which can be purchased with a bike insurance plan. You can add as many add-ons as you like with your policy.

  • What are the documents required for add-on covers in two wheeler insurance?

    No additional documentation is required for the purchase of add-ons. You can add them to your bike insurance policy at the time of purchasing the plan by paying an additional nominal premium.

  • What are the different types of add-on covers in two wheeler insurance available in the market?

    There are a number of bike insurance add-ons available in the market. The most popular bike insurance add-ons include:

    • Zero Depreciation
    • Consumable Expenses
    • Road Side Assistance
    • New Vehicle for Old Vehicle
    • Engine Protect
    • Accidental Hospitalisation
    • Hospital Cash
    • EMI Protector
    • Outstanding Loan Protector
    • NCB (No Claim Bonus) Secure
    • Owner Personal Accident (PA)
    • Pillion Rider Personal Accident (PA)
  • What do I need to know before buying a bike insurance add-on?

    Before buying a bike insurance add-on, you must know its coverage, features and premium amount.

  • How do add-on covers enhance bike insurance?

    Bike insurance add-ons extend the coverage of a standard bike insurance plan and thus enhance a bike insurance policy.

  • Why should I buy a add-on covers in two wheeler insurance?

    You should buy a bike insurance add-on cover to extend the coverage of your bike insurance plan.

  • Is it necessary to have two wheeler add cover on every year?

    Bike insurance add-ons are not a mandatory requirement but they are recommended for purchase as they increase the coverage of your standard bike insurance policy.

  • What is a depreciation cover?

    When you opt for this cover, at the time of claim settlement your insurance company pays for the depreciated amount applicable on your bike which is otherwise deducted from the claim amount. It is one of the most selling add-on covers and helps one save a significant amount.

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#Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.