A standard two-wheeler insurance policy provides basic coverage, but it may not be enough to cover all risks. This is where two-wheeler insurance add-on covers come into play. These add-ons enhance your policy, offering extra protection against financial losses. By choosing the right bike insurance add-ons, you can ensure complete peace of mind while riding your bike.
Add-ons in bike insurance policy
The various kinds of two-wheeler insurance add-on covers include:
Zero depreciation cover, also known as bumper-to-bumper insurance, is an add-on cover in two-wheeler insurance that ensures full claim settlement without factoring in depreciation. Typically, when a bike undergoes repairs, insurers deduct depreciation costs on replaced parts reducing the claim amount.
However, with zero depreciation cover, the insurer covers the entire repair cost. This add-on is especially beneficial for new bikes, as it minimises out-of-pocket expenses in case of damage. Though it comes with a higher premium, it provides financial security and peace of mind by ensuring maximum claim benefits.
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Roadside assistance cover
This add-on cover in two-wheeler insurance provides immediate help if your bike breaks down while riding. It includes services like towing, minor repairs, flat tire assistance, fuel delivery and battery jump-starts.
This add-on ensures that you get quick support without extra costs during emergencies, reducing stress and inconvenience. It is especially useful for long rides and remote areas where finding help can be difficult.
One of the major bike-insurance add-ons, engine protection cover, provides financial protection against damage to your bike's engine due to water ingression, oil leakage or mechanical breakdown.
This add-on is beneficial, especially for those living in flood-prone areas or frequently riding through waterlogged roads.
This cover in bike insurance is an add-on that covers the cost of consumable items like engine oil, nuts, bolts, grease, brake oil and similar components that need replacement after an accident.
Normally, these expenses are not covered under a standard bike insurance policy. However, these costs are reimbursed with this cover. This helps reduce out-of-pocket expenses during repairs. This add-on is especially beneficial for expensive bikes.
Conclusion
A two-wheeler insurance policy is essential. However, adding extra coverage can make a huge difference in protecting your finances. Choosing the right two-wheeler insurance add-on covers ensures your bike is secured from unexpected expenses. Assess your needs and opt for the one to ride worry-free.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the Insurance industry and products. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.