ICICI Lombard Two-Wheeler Insurance Add-On Covers

When it comes to add-on covers, additional coverage is the first thing that comes to mind. The basic purpose of add-ons is to enhance the policy coverage with which you can protect your two-wheeler in a better manner. You can include add-ons in your standard insurance cover by paying an additional premium. ICICI Lombard General Insurance offers a range of add-on covers that you can choose while making the policy purchase or during the renewal process.

The add-on benefits that you can include in the bike insurance covers of ICICI Lombard General Insurance are as follow:

1. Roadside Assistance - The Roadside Assistance (RSA) is a bike insurance add-on cover, which is designed to provide you assistance in a situation where your bike breaks down or faces any technical failure anytime and anywhere. With the inclusion of this cover in your bike insurance policy, you can get instant help from your insurer in different forms such as towing services, arrangement of fuel, arrangement of keys, battery jump start, minor repairs, taxi benefits, arrangement of accommodation, referring a hospital, and much more. You can use this benefit for a maximum of four claims in a year.

2. No Claim Bonus (NCB) Protect - The No Claim Bonus (NCB) is a kind of reward which is provided in terms of discounts on the premium of the insurance policy for making no claim in a policy term. However, with every claim-free year, this discount accumulates from within a range of 20% to 50%, but making a single claim in between will make this benefit null and void. Therefore, by opting for a NCB protector add-on cover, you can safeguard your NCB discount even after making a claim in a policy year. However, only 3 claims are allowed under this add-on, which means that the insured person will not be entitled to any No Claim Bonus, if more than three claims are lodged in a single policy term to compensate the loss or damage incurred to the insured vehicle.

3. Return To Invoice - This is an add-on cover that gives the compensation for the amount of difference between Insured Declared Value (IDV) of the bike and the total actual cost incurred towards acquisition of a new vehicle of similar make and model to the insured, as specified in the on-road price, including registration charges or road-tax, listed by the manufacturer or dealer upon the occurrence of theft or total loss due to a mishap or an accident.

4. Garage Cash - With the inclusion of this Garage Cash add-on cover, you become eligible to get a daily allowance of Rs. 500 for each and every completed day for which your two-wheeler is under repair in a garage, due to loss or damage incurred by the vehicle subject to the maximum number of 14 days. This additional coverage helps you a lot in dealing with the period of vehicle repair.

5. Zero Depreciation Cover - With this zero depreciation add-on cover, you can get a default depreciation waiver on the parts replaced due to any loss or damage sustained by the insured vehicle and/or to its accessories. This benefit is applicable on two claims during the policy term and any subsequent claims shall be subject to a deduction on the account of default depreciation.