List of Add-on Covers In Bike Insurance – Buy Online

Every bike owner in India knows that it is mandatory by law to buy bike insurance. Most of the time they heed the advice of their dealer and simply buy insurance without giving it a second thought. A big check mark on compliance while buying a bike and end of the story. However, the true importance of reviewing and personalizing bike insurance with Add-on covers is understood at the time of claims.

List of Add-on Covers In Bike Insurance

By reading this article you will understand why it is important to buy Add-on covers along with bike insurance and which types of covers can help you get maximum coverage. Keep reading to know more:

What Is Add-on Cover In Bike / Two Wheeler Insurance?

Two-wheeler insurance Add-on covers are additional coverages that can be bought with a Comprehensive Two-wheeler insurance policy. They increase the scope of coverage and help you to get the maximum claim amount in case of damage. Add-ons also increase the premium of the policy, however, this extra premium is a negligible amount when compared to the benefit Add-ons can provide during claims.

Benefits Of Add-ons On Bike Insurance:

Various types of bike insurance add-on covers are available in the market. However, each one would not be suitable for your needs. You need to make an informed decision while buying an insurance policy for your bike. Here are the benefits of buying bike insurance add-on covers:

Enhanced Coverage

Bike insurance add-on increases the extent of coverage of the policy. You can get coverage for more situations as compared to buying an insurance policy without any add-ons.

Personalized Bike Insurance

As mentioned earlier, you can choose to buy certain add-ons based on your requirements. This helps you to personalize your bike insurance policy. 

For example:

Consider you and your friend both buy bike insurance policies from the same insurance company, you both can choose to buy a different add-on that is available with the insurer. 

  • If you have a history of losing your bike keys more often, you can choose the Key Protect Cover.
  • Your friend may like to travel more often, and so he can choose the Outstation Emergency Cover. 

Note: You can scroll down to know more about Key Protect Cover and Outstation Emergency Cover.

Thus, both of you bought the same bike insurance policy but chose different add-ons and thus personalized the standard policies. 

Higher Claim Amount:

Since you receive more coverage by including add-ons in your bike insurance policy, you can claim for a higher amount at the time of claim. 

For example:

  • Consider you bought the Zero Depreciation add-on for your 3-year-old bike.
  • The insured bike met with an accident and the damage amounted to Rs. 20,000. 

Usually, the amount of depreciation will be deducted from the claim amount, i.e. Rs. 20,000. Without the Zero Dep Add-on, the claim would have been settled for approximately Rs. 15,000 considering the depreciation of various bike parts. However, you can claim the full amount because you have the Zero Depreciation Add-on. Thus, you received a higher claim amount because of the Add-on cover.

List Of Add-on Cover In Two Wheeler Insurance By Acko:

By now you must have realized how important it is to purchase an add-on cover in bike insurance. By providing additional coverage, you can get more claim amount and peace of mind in a situation of distress related to your bike. Now let us take a look at which Add-on covers are offered by Acko General Insurance and understand their meaning in detail:

Zero Depreciation Bike Insurance:

  • Meaning: This add-on cover may sometimes also be referred to as Zero Dep Add-on cover. As mentioned in the above example, the Zero depreciation cover will allow your insurer to compensate you with a higher claim amount. This is because the depreciation on bike parts is not taken into account while paying for the damage.
  • Condition: Only those claims will be considered under Zero Depreciation add-on, which involves damage to bike parts where depreciation is considered. If there is no damage to the depreciable bike parts that has occurred, it will not be considered a Zero Dep claim.
Age Of VehicleDepreciation
Less than 6 monthsNil
Between 6 months and 1 year5%
Between 1 to  2 years10%
Between 2 to 3 years15%
Between 3 to 4 years25%
Between 4 to 5 years35%
Between 5 to 10 years 40%
Exceeding 10 years50%
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Exclusions: The Zero Dep Add-on cannot be claimed against – the entire cost of replacement on tyres and tubes, and in case of Total Loss / Constructive Total Loss.

2. Consumables Cover:

  • Meaning: Consumable items like nuts & bolts, engine oil, etc. require a good chunk of money to repair or replace. Such items can be covered under an insurance policy by purchasing the Consumables Cover Add-ons.
  • Condition: Only the following items are covered under consumable cover:
    • Bearing
    • Break oil
    • Clips
    • Distilled water
    • Engine oil
    • Gearbox oil
    • Grease
    • Lubricants
    • Nuts and bolts
    • Oil filter
    • Screw
    • Washers
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Exclusion: Fuel or its cost is excluded from the policy.

3. Bike Engine Protect Add-on:

  • Meaning: As the name suggests, Bike Engine Protection add-ons will provide financial protection in case of damage to the engine of your bike. Usually, the engine is not included in a bike insurance policy. Without the Engine Protect Add-on, the cost of repair/replacement to this important part of the bike can amount to a huge sum of money which the policyholder needs to bear in case of damage.
  • Exclusions:
    • Performance issues due to wear and tear.
    • Repairs that are not approved by the insurance company.
    • Damage to the engine due to the following situations:
      • Riding the bike in an intoxicated state.
      • Riding without a valid driving licence.
      • Damage arising due to illegal activity.
      • Damage due to taking part in an illegal race.
    • Consequential damage to the engine.
    • Cost of lubricants.
    • Late intimation.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.

4. Downtime Allowance:

  • Meaning: The Downtime allowance add ons is very helpful for people who commute on their bike on a daily basis. Through this add-on, the policyholder can get a daily allowance or a fixed amount of money in case of an accident. The policyholder can make a claim under this add-on until the bike gets repaired.
  • Condition
    • The claim against accidental damage should be approved by the insurance company for this add-on to come into force.
    • The insurer will pay the allowance under this add-on from the date of submission of a written notice or when the bike is handed over to a network garage for repairs until the date of completion of repairs as described in the policy.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Exclusion: Not applicable for minor repairs.

5. Return to Invoice Cover

  • Meaning: Under the Return to Invoice Cover Add-ons on Bike insurance or Invoice cover, the policyholder can claim the full monetary value of the bike. No depreciation will be calculated during claim settlement. Moreover, the road tax and registration charges can also be claimed under this add-on.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Condition: The Invoice cover will be applicable only in case of theft of the bike or damage under total loss. 
  • Exclusions: 
    • If the stolen bike is found within 90 days of theft.
    • If the policyholder did not file an FIR about the claimable incident.
    • The non-built-in or non-embedded electrical/electronic and nonelectrical/electronic accessories that are not covered under bike insurance.

6. Key Protect Cover

  • Meaning: The Key Protect Cover Add-on, as the name suggests, will help you replace the key of your bike in case of damage or if lost. 
  • Conditions: 
    • An FIR is required if the key of the bike is stolen or burglarized.
    • A replacement will be made for a key or lockset that is similar to the previous key/lockset that was stolen or damaged.
    • Entire lockset and the key will be replaced in case of theft.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Exclusions:
    • Any claim made against Key Protect after 30 days of damage/theft will not be admissible.
    • Replacement amount will be provided in case of damage. The entire lockset will not be changed.

7.Loss of License/RC

  • Meaning: The Loss of License or RC Add-on helps you to get monetary compensation in case you lose important documents like the Driving License of the Registration Certificate (RC) of your bike.
  • Condition: The claim for loss of documents should be supported by the First Information Report (FIR) filed at the local police.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.

8. NCB Protection

  • Meaning: Bike Insurance No Claim Bonus or NCB in Bike Insurance is an add-on through which you can get the NCB benefit in spite of making a claim. This add-on is especially helpful for people who have a history of raising claims.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Conditions: 
    • Only a specific number of claims will be allowed under the NCB Protect add-on. The policyholder can find this number in their policy document.
    • Theft and Total Loss claims are not counted as claims for these add-ons. But the policyholder needs to renew the Bike insurance policy within 3 years after the reported theft or total loss.
  • Exclusion: Claims for partial theft of accessories or parts cannot be made under this add-on.

9. Outstation Emergency Cover

  • Meaning: The Outstation Emergency Cover add-ons can be of great help in an event where the policyholder lands in an emergency situation while travelling. As the name suggests, this cover will be helpful in case you suffer issues with the vehicle like sudden breakdown while travelling in an unknown region.
  • Conditions: 
    • The breakdown/accident should occur outside a 100-kilometre radius from where the policyholder resides.
    • Only a certain number of claims are allowed under this add-on. You can find the number of allowed claims in the policy document.
    • Any claim made under the Outstation Emergency Cover will not be considered for No Claim Bonus calculations.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Exclusion: Repairs that need less than 12 hours to complete are not covered.

10. Personal Belonging – Damage

  • Meaning: As the name suggests, the Personal Belonging – Damage add ons pays for the damage to personal items in case of accidents. This add-on is helpful in case the policyholder frequently rides the bike with personal items of value.
  • Condition: Depreciation i.e. reduction in the value of an item, will be considered while calculating the final claim amount.
Age of the Personal BelongingDepreciation % (on Invoice Value)
Less than 1 year 20%
Between 1 and 2 years40%
Between 2 and 3 years50%
Between 3 and 4 years60%
Exceeding 4 years 80% 
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Exclusion: A claim will not be admissible if it is raised 30 days after the damage to personal belongings.

11. Personal Belonging – Electronic Equipment

  • Meaning: The Personal Belonging Electronic Equipment Add-on can be purchased along with your Comprehensive bike insurance policy to cover the loss in case electronic equipment gets damaged. A claim can be made to receive compensation for the repair/replacement of such items.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
Age of the Electronic EquipmentDepreciation % (on Invoice Value)
Less than 1 year 20%
Between 1 and 2 years40%
Between 2 and 3 years50%
Between 3 and 4 years60%
Exceeding 4 years 80% 
  • Conditions:
    • The claim against Personal Belonging- Electronic Equipment add-on should be supported by an FIR.
    • Depreciation i.e. reduction in the value of an item will be considered while calculating the final claim amount.
  • Exclusions:
    • Compensation for loss/re-creation of data.
    • Personal belongings lost due to the carelessness of the policyholder.
    • Personal belongings that are used to carry out a trade or business.
    • A claim raised after 30 days of the loss.

12. Personal Belonging – Theft

  • Meaning: The Personal Belonging Theft Add-on can be purchased to cover the monetary loss suffered by the policyholder upon the theft of personal belonging.
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Conditions:
    • The claim against Personal Belonging – Theft add-on should be supported by an FIR.
    • Depreciation i.e. reduction in the value of an item will be considered while calculating the final claim amount.
Age of the Electronic EquipmentDepreciation % (on Invoice Value)
Less than 1 year 20%
Between 1 and 2 years40%
Between 2 and 3 years50%
Between 3 and 4 years60%
Exceeding 4 years 80% 
  • Exclusions:
    • Personal belongings lost due to the carelessness of the policyholder.
    • Personal belongings that are used to carry out a trade or business.
    • A claim raised after 30 days of the loss.

13. Roadside Assistance Cover

  • Meaning: The Roadside Assistance Add-ons cover is highly beneficial when the policyholder gets stuck on the road due to various reasons like breakdown, empty fuel tanks, flat tyre, dead battery, etc. 
  • Premium: The premium of this add-on will depend upon the make, model, age, and IDV of the insured bike.
  • Condition
    • Only a certain number of claims are allowed under this add-on. You can find the number of allowed claims in the policy document.
    • Any claim made under the Roadside Assistance Cover will not be considered for No Claim Bonus calculations.
    • The company will reimburse the costs of applicable services if the insurer is unable to provide roadside assistance to the policyholder.
    • The following services are included under the Roadside Assistance cover:
      • Emptying of Fuel Tank
      • Legal Advice
      • Pick-up of the vehicle
      • Hotel Search Assistance
      • Emergency Towing
      • Fuel Support
      • Spare Key Retrieval
      • On-spot Repair
      • Battery Jumpstart
      • Flat Tyre
  • Exclusions:
    • Riding the bike in an intoxicated state.
    • Riding without a valid driving licence.
    • Damage arising due to any illegal activity.
    • Damage due to taking part in an illegal race.
    • Services that are availed without intimating the insurance company.
    • Damage when the bike was not driven as per the owner’s/manufacturer’s recommendations.

Frequently Asked Questions:

I had not considered buying add-ons while purchasing bike insurance. Can I buy an Add-on in the middle of a policy period?

Yes, it is possible to endorse a policy with more add-ons, however, the insurance company may need to inspect your bike before you can purchase the additional coverage.

What is IDV and why does it affect my bike insurance premium?

IDV stands for Insured Declared Value. It is the approximate current market value of your bike. You need to declare the IDV while purchasing your bike insurance policy because it is one of the main factors considered for determining the premium of your policy. Higher the IDV higher will be the premium. This is also the amount that your insurance company will compensate in case of bike theft or if the bike suffers complete damage i.e. total loss.

Is it mandatory by law to purchase Add-ons?

No, buying an add-on with a bike insurance policy is a personal choice. They enhance the scope of your standard bike insurance policy and help you get a higher claim amount. Thus, experts advise that you should not only buy a comprehensive bike insurance policy but also buy add-ons for extended coverage.

How can I get the maximum No Claim Bonus discount?

The only way to get the highest No Claim Bonus Discount on your bike insurance policy is to drive safely. When you ride your bike in a safe manner, the chances of an accident reduce and in turn, the chances of claims also decrease. When you do not file a claim against the own damage component of your bike insurance policy for 5 consecutive years you can get a whopping 50% discount under NCB on premium. This is how you can get the maximum No Claim Bonus discount on your bike insurance policy.

Is depreciation calculated based on various parts of the bike?

Yes, since different bike parts depreciate at a different rate, the calculation is based on each part. The depreciation for rubber, nylon, plastic parts, tires and tubes and batteries is 50%. The depreciation on Fiberglass components is 30%. You can get in touch with your insurance company to know more about how depreciation is calculated at the time of claim settlement.

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