What All Add-On Covers Are Available With ICICI Lombard Bike Insurance Plan?
Updated On Dec 01, 2021
Read this article to find out some useful add-on covers that you can avail with ICICI Lombard bike insurance plan.
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The additional coverage is the first thing that comes to mind when it comes to add-on covers. The main objective of add-ons is to expand the insurance coverage so that you can better safeguard your two-wheeler. By paying an extra price, you can incorporate add-ons into your normal insurance coverage. ICICI Lombard General Insurance offers a variety of add-on policies that you may select while purchasing or renewing your policy.
All About ICICI Lombard Bike Insurance Add-On Covers
In India, having a motorcycle insurance policy is required. ICICI Lombard Two-Wheeler Insurance offers a variety of benefits and features. The business also offers a liability-only policy as well as a comprehensive insurance policy. The following are the optional features that you may incorporate in your ICICI Lombard General Insurance bike insurance policy:
RSA is a bike insurance add-on policy that is meant to help you in the event that your bike breaks down or suffers a technical breakdown at any time and in any location. With this coverage included in your bike insurance policy, you may receive immediate assistance from your insurer in the form of towing services, fuel delivery, key delivery, battery jump-start, minor repairs, taxi parks, lodging arrangements, hospital referrals, and much more. You may only use this perk up to four times per year.
Protect with a No Claim Bonus (NCB)
A No Claim Bonus (NCB) is a type of incentive that is given in the form of savings on insurance premiums for not filing a claim during the policy period. However, this discount rises from 20% to 50% with each year of claim-free service, but filing a single claim in between will render this advantage null and useless. As a result, by adding an NCB protection add-on insurance to your policy, you may keep your NCB discount even if you make a claim during the policy year. However, this add-on only allows for three claims, which means that if more than three claims are filed in a single policy term, the insured individual will not be eligible for a No Claim Bonus.
Return to Invoice
This is an add-on cover that compensates you for the difference between the bike's insured declared value (IDV) and the total actual cost of buying a new vehicle of a similar make and model to the insured, as specified in the on-road price, including registration charges or road-tax, as listed by the manufacturer or dealer, in the event of theft or total loss due to a mishap or accident.
By adding this Garage Cash add-on cover to your policy, you will be entitled to a daily allowance of Rs. 500 for each completed day that your two-wheeler is in a garage for repairs due to loss or damage, up to a maximum of 14 days. This extra coverage comes in handy when it comes to coping with the time it takes to repair your car.
Zero Depreciation Coverage
This zero depreciation add-on insurance provides a default depreciation waiver on items replaced as a result of any loss or damage to the covered vehicle and/or its accessories. This advantage is only valid for two claims during the policy period, after which all further claims will be subject to a default depreciation deduction.
ICICI Lombard General Insurance is a brand of one of India's most known banking organizations, ICICI. It offers a variety of two-wheeler insurance plans that may be customized to meet the needs of its customers. Not only that, but the add-on covers make ICICI Lombard's two-wheeler insurance even more beneficial. Furthermore, ICICI Lombard earns its popularity in the insurance business through efficient procedures, high-quality services, and speedy answers.
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.