Bike Insurance Add-On Covers Available With Cholamandalam MS Explained

Published On Oct 14, 2021 11:00 AM By InsuranceDekho

Explanation of add-on cover in Cholamandalam MS bike insurance. Go Through this article for the ad-on coverage in Cholamndalam MS.

Purchasing a bike involves a significant amount of paperwork from Cholamandalam MS bike insurance. This documentation is necessary to provide security in a variety of ways. A bike insurance policy is one of the most critical papers. According to the Indian Motor Vehicle Act, every Indian bike owner is required to ensure his bike. However, while buying bike insurance, it is critical to choose a policy that provides the necessary coverage at a reasonable cost. If you've chosen MS Cholamandalam General Insurance to insure your bike, this article will outline the top four add-on coverages that you should absolutely consider.

Bike Insurance Add-On Covers Available With Cholamandalam MS Explained

The primary aim of add-on coverage is to offer extra coverage for a little premium increase. Enhancing insurance coverage enables you to safeguard your bike in the most cost-effective manner possible. Additional coverage may be added to your basic bike insurance policy according to your budget and needs. Cholamandalam MS General Insurance provides a range of optional coverages that you may buy or renew with your policy. 

The following are the top four additional coverage options that you should consider when purchasing bike insurance from MS Cholamandalam General Insurance -

  • Complete Depreciation Waiver

When you ride your bike, depreciation is an inescapable fact of life. As you drive your vehicle, the car components may experience wear and tear, reducing their total worth. By purchasing the zero depreciation insurance, you guarantee that depreciation is not included in the claim calculation. MS Cholamandalam provides a comprehensive depreciation waiver as part of your basic bike insurance policy. Under this policy, replacement car components will be reimbursed in full, with no reduction for depreciation. This coverage is often preliminary for clients who have just bought a bike or whose bike is less than three years old.

  • Return To Cover Of Invoice

MS Cholamandalam General Insurance will compensate you for the value of the bike based on its IDV (Insured Declared Value) if it is stolen, damaged beyond repair, or totaled. When you add a return to invoice coverage to your bike insurance policy, the IDV of your bike is set at the purchase price. This implies that in the case of severe damage or theft, the insurance will compensate you for the full cost of the bike. MS Cholamandalam General Insurance offers this coverage if your bike is less than five years old. The add-on covers the invoice price of the new bike, as well as registration and road tax. However, you may only make a claim under this cover once throughout the policy term.

Read Here: How To Get A Duplicate Copy of New India Bike Insurance Documents?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

  • Chola Added Value Services

This is nothing more than the Roadside Assistance feature included with bike insurance. The Chola Value Added Services Coverage will help you in this scenario by providing specific services. MS Cholamandalam General Insurance can arrange for expert help to be sent to your place immediately to assist you in repairing your bike. Additionally, they may offer towing services and on-call assistance as part of this policy's features to make your trip more pleasant and safe.

  • Cover for Hydrostatic Lock

Engine issues are frequent while riding your bike for a long amount of time. This will need you to take it to a service center, which will be expensive. If you wish to prevent these expensive expenses, buying an engine protection plan will almost certainly cover the cost of fixing your bike engine. In the event of waterlogging, you may replace the engine, gearbox, or differential assembly components. This policy covers bikes for a period of ten years from the date of registration. However, you may only make a claim on this insurance once each policy year.

Take Away 

When buying bike insurance, it is important to compare policies from several insurance companies. MS Cholamandalam General Insurance is a well-known insurance company. With over 7100 network garages and an 85.89 percent CSR in FY20, it's an excellent option for your bike insurance.

Also Read: How To Get the Details of Bike Insurance By Registration Number?

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