Covers Your Sports Bike With Insurance Add-Ons
Covers Your Sports Bike With Insurance Add-Ons
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It is needed by law to acquire at least third-party or liability-only coverage when purchasing bike insurance for your automobile. However, you are well aware that your sports bike is quite valuable to you, and that third-party coverage is inadequate. It's also a good idea to get add-ons to your comprehensive bike insurance policy, which will cover damage to you and your vehicle as well as third-party injuries if you get into an accident with your two-wheeler. Add-ons are supplementary coverages that you may purchase for a price to complement the coverage provided by your insurance policy. It's a no-brainer that you should select them to personalize your policy to your exact needs when it comes to something as significant as a sports bike.
Important Optional Coverage for Your Sports Bike Insurance
Let's take a look at some of the most important motorbike insurance options:
1. Zero Depreciation Insurance
The word "depreciation" refers to the drop in the assessed market value (IDV or Insurance Declared Value) of your motorcycle over time. If you make a claim for parts replacement or damage to your bike, you will be compensated based on the bike's depreciated IDV rather than the actual repair cost. This add-on ensures that you will be reimbursed for the market value of the parts you have purchased.
2. On the Road Assist
It is undoubtedly advantageous to be able to call your insurance company for help if you have an accident or a breakdown while driving. Roadside assistance allows you to get emergency aid in situations such as bike breakdowns, towing, and so on. It's especially crucial if you own a sports bike since you don't want to risk losing such a valuable asset.
3. Engine Protection Cover
Your sports bike's engine is quite likely to be destroyed at some point, maybe as a consequence of a natural calamity such as flooding. The engine protects cover add-on is especially useful in this instance, as it would not be protected by standard comprehensive coverage. Individuals who reside in flood-prone areas should take additional precautions. Because the cost of replacing the engine on a sports bike might be prohibitively high, this optional coverage is advised.
4. Anti-Theft Devices Cover
Every bike should include an anti-theft device that will notify you if it is stolen by a third party. Installing an anti-theft system on a sports bike is much more important due to the high cost of the bike. Furthermore, if the owner of the insured vehicle has placed an ARAI-approved anti-theft device in the bike, the insurance company will give you a discount on your payment.
5. No-Cash Alternative
This is a must-have optional cover for any motorcycle owner. If a policyholder needs emergency automobile service or has been in an accident, they can contact their insurance company immediately, and help will be provided to their location via the insurance company's network of hospitals and garages. The insured does not have to pay money at the hospital or at the repair shop to obtain any form of treatment with this add-on optional insurance. Every insurance company will have a network of garages and hospitals located around the country from which clients can receive assistance.
Take Away
In all of the circumstances you may encounter, your conventional comprehensive insurance coverage would not cover all potential damages. As a result, you should pick add-on coverage to boost your insurance. These are the three most crucial to think about if you want to protect your sports bike while still having a solid financial safety net.
