7 Must Have Add-on Cover for your Two Wheeler

Add-on covers for two-wheelers provide additional coverage along with a comprehensive two-wheeler insurance policy. With an increase in the scope of coverage, you can get maximum value from your money. Most bike owners look at Add-on covers as one time investments. In case of damages, just like a two-wheeler insurance policy, Add-on covers reduce out-of-pocket expenditure. 

Therefore, here are 7 Add-on Covers you need to get for your two-wheeler:

1. Zero Depreciation Cover

Zero Depreciation or zero dep add-on cover provides you with financial compensation higher than the claim amount. Under this cover, the depreciation on bike parts is not considered while paying for the damage.

For example:

Let’s say, for example, the IDV of your bike is INR 55,000. Based on this, the premium amount for Comprehensive Cover comes to around INR 1,200. If you choose to opt for Zero Depreciation Cover worth INR 300, your total premium amount would be INR 1500. 

If during the policy tenure you filed a claim and the total cost of repair is INR 3,000 including repair and replacement cost of depreciable parts accounting for INR 1,000. Without a Zero Depreciation Add-on cover, you will have to pay INR 1,000 from your pocket. 

Note: The premium amount and the repair charges are indicative figures.

You can use the following table to understand the cost of repair or replacement of depreciable parts at the time of claims: 

Conditions for Claim: Claims involving damage to bike parts where depreciation is considered will only be included under Zero Depreciation add-on. If there is no damage to the depreciable bike parts, it will not be considered a Zero Depreciation claim. 

Premium Amount: The premium amount for Zero Depreciation add-on depends on the age, make, model, age, and IDV of the insured vehicle. 

Exclusion: The Zero Depreciation Add-on cannot be claimed against the entire cost of replacement on tubes and tires, and in case of complete loss of the insured two-wheeler.

2. Consumables Cover

At the time of repair or replacement, a large portion of the bill is made up of consumable items like nuts, screws, bolts, engine oil, etc. These items can be covered under your two-wheeler insurance policy by investing in consumables cover in two wheeler insurance.

The following items are covered under consumable cover:

• Bearing
• Nuts and bolts
• Clips
• Distilled water
• Engine oil
• Break oil
• Gearbox oil
• Grease
• Lubricants
• Oil filter
• Screw
• Washers

Conditions for Claim: Apart from the above-mentioned items, no other item will be considered under Consumables Cover. 

Premium Amount: The premium amount for Consumables Cover depends on the age, make, model, age, and IDV of the insured vehicle. 

Exclusion: The quantity and cost of fuel used is excluded from the cover. 

3. Roadside Assistance Cover

Roadside Assistance Add-ons cover is ideal for road-side emergencies. Having a roadside assistance cover in bike insurance provides benefits like refuelling the fuel tank or towing the vehicle to the closest garage. If the insurance provider is unable to provide roadside assistance, the company will reimburse the costs of applicable services. 

Here is a detailed list of services included under the Roadside Assistance cover:

• Pick-up of the two-wheeler from the spot
• Emergency Towing
• Fuel Refill
• Spare Key Retrieval
• On-spot Repair
• Flat Tire

Conditions for Claim: Only a pre-defined number of claims are allowed under this add-on. Also, claims made under the Roadside Assistance Cover will not be considered at the time of calculating your No-Claim Bonus.

Premium Amount: The premium amount for Roadside Assistance Cover depends on the age, make, model, age, and IDV of the insured vehicle. 

Exclusion: Claims made under Roadside Assistance Cover in the following situations will not be covered: 

• Damage caused to two-wheelers due to careless driving or negligence (not driven as per the manufacturer’s recommendations)
• Riding in an intoxicated state.
• Riding without a valid driving licence.
• Damages arising due to any illegal activity.
• Damages due to participation in an illegal race.
• Services that are availed without informing the insurance provider.

4. Return to Invoice Cover

Under the return to invoice cover or Invoice Add-on cover, you can claim the full value of your insured two-wheeler in case of theft or total loss. No depreciation will be taken into account at the time of claim settlement. Moreover, you can also claim road tax and registration charges against an Invoice Cover.

Premium Amount: The premium amount for Return to Invoice Cover depends on the age, make, model, age, and IDV of the insured vehicle. 

Exclusion: Non-attached electrical or electronics, as well as non-electrical accessories, are not covered under this cover. 

Moreover, claims made under Invoice Cover in the following situations will also not be covered: 

• If the stolen two-wheeler is found within 90 days.
• If there is no FIR filed against the missing two-wheeler

5. Bike Engine Protect Add-on

Just like the name suggests, bike engine protect add-on provides financial protection in case of damage to the engine of your two-wheeler. Generally, damages to your bike’s engine cannot be claimed against your insurance policy. Without an Engine Protect Add-on, the burden of repairing or replacing this critical part falls on you. This leads to mental as well as financial stress. This makes Bike Engine Protect Add-on a necessity for every two-wheeler owner. 

Premium Amount: The premium amount for Bike Engine Protect Cover depends on the age, make, model, age, and IDV of the insured vehicle. 

Exclusion: Claims made under Bike Engine Protect Cover in the following situations will not be covered: 

• 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.
• Performance issues due to wear and tear.

6. No Claim Bonus (NCB) Protection Cover 

No claim bonus or NCB is an add-on cover which provides you NCB benefit in spite of making a claim. This add-on is recommended for those with a history of raising claims. However, only a specific number of claims are allowed under the NCB Protect add-on.

Premium Amount: The premium amount for No Claim Bonus (NCB) Protection Cover depends on the age, make, model, age, and IDV of the insured vehicle.

Exclusion: Claims for partial theft of parts or accessories cannot be made under this cover.

7. Personal Accident Cover for Pillion 

In addition to the mandatory Personal Accident Cover for the rider, having an Add Cover for the Pillion rider i.e. the person sitting behind you on a bike is a good idea. For those who travel with their wife as the pillion, a Personal Accident Cover for Pillion is a must-have. Personal Accident Covers compensate for both - accidental death as well as total or partial permanent disability.

Premium Amount: The premium amount for Personal Accident Cover for Pillion depends on the age, make, model, age, and IDV of the insured vehicle.

Exclusion: Claims made under Personal Accident Cover for Pillion in the following situations will not be covered: 

• Riding the bike in an intoxicated state.
• Damage arising due to illegal activity.
• Damage due to taking part in an illegal race.
• Self-inflicted injuries or suicide
• Pre-existing injuries or disabilities
• Mental disorders

Summary: 

Although a Comprehensive insurance policy provides better coverage against risk, it is incomplete without Add-on Covers. Add-on Covers complement your two-wheeler insurance to make your ride smooth and stress-free. Although they may increase your premium amount by a little margin, the benefits offered by Add-on covers are totally worth the extra amount.