Bike insurance is no longer complicated. Now, you can purchase a policy within minutes. You can do so from your laptop, desktop or your smartphone as well. The convenience aspect is sorted. The cost aspect can also be sorted if you spend some time in two wheeler insurance comparison and selecting the right cover. Selecting Add-on covers is a huge part of getting the coverage-premium aspect right. Read ahead to learn how additional covers can add value to your two-wheeler insurance policy.
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What are add-on covers?
Add-on covers are a layer of protection. An Add-on is a cover you can purchase in addition to your Comprehensive bike insurance policy. Note that Add-on covers cannot be purchased with a basic Third-party Liability policy.
What is the impact of Add-on covers on coverage?
A Comprehensive plan definitely has more coverage than a Third-party policy. Comprehensive plan insures your bike against accidents, theft, calamities, as well as third-party liabilities. But it is generic in nature. However, Add-on covers can give scope for customization. Thus, Add-ons increase your bike’s insurance cover.
A basic Third-party liability policy is the cheapest. A Comprehensive plan is expensive than a third-party policy and a Comprehensive plan with Add-ons is more expensive. More the Add-ons, more the premium.
Which are the popular bike insurance Add-ons?
Here’s a list of popular Add-ons. Make sure to purchase only those Add-ons that meet your requirements.
- Zero depreciation in bike insurance – It negates the calculation of depreciation resulting in a relatively higher claim amount.
- Pillion Rider – Insures the pillion rider in case of major injuries. Suggested for those who often ride with someone on the backseat of the bike.
- Engine Protection – Designed for the heart of the bike, its engine. Much-needed in areas that face frequent flooding.
- Roadside Assistance – Ideal for those who go on road trips regularly. With this Add-on, you can simply call your insurer if your bike faces any issues on the road. The insurer will arrange for a mechanic/towing van and take care of the next steps.
- Accessories Cover – Insure additionally-fitted bike accessories with the help of this cover. Such accessories are at a high risk of getting damaged. Thus, they can be covered with the help of this Add-on.
Who should buy Add-ons?
The answer to this question depends upon your bike’s age and its usage. For example, there is no point in purchasing a Pillion Rider cover if you ride solo. Thus, analyze your requirements and purchase Add-ons accordingly.
Bike Insurance Online
New bike needs new bike insurance and an old bike with an expiring 2 wheeler insurance needs renewal. Purchasing new bike insurance was a tedious process earlier. Now, researching, purchasing, and renewing 2 wheeler insurance is easy and quick.
Bike insurance online can be done from the comfort of your home and as per your convenience. Remember to first decide the coverage you need, and then go around comparing car insurance premium before buying the policy. However, merely buying bike insurance online is not enough. It needs to be renewed before its expiry date as well.
An expired policy offers zero coverage. What this means is that if you are involved in a bike accident while your policy has expired, your insurer will not cover your financial losses. Worse, you can also get entangled in legal issues.
Whether you are buying bike insurance for the first time or renewing it, whether you are taking one Add-on or three Add-ons, ensure to make an informed choice by reading the inclusions and exclusions of the policy thoroughly.
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