Add-on covers are optional additions to your bike insurance policy that can greatly enhance the coverage on offer and cater to your specific needs as a biker. These are additional features that can be added to your bike insurance policy for an extra cost. These covers can provide you with enhanced protection and help you save money in the long run. Some of India's most popular add-on covers include roadside assistance, engine protection, and personal accident cover. Barring personal accident cover, all other add-on covers can be added to either a standalone own damage or comprehensive bike insurance policy.
Add-on covers also help you pay for repairs and bike parts generally not covered in a comprehensive plan. Here we have presented the full guide to help you understand the importance of bike insurance add-on covers and their types.
Types of Add-on Covers You Should Know About
When it comes to bike insurance in India, there are some add-on covers you should be aware of. These include personal accident cover, engine protection cover, consumables cover, etc. Each add-on cover provides an additional layer of protection for your bike and can ultimately help you save money in the long run.
Here’s a closer look at each type of add-on cover:
Personal Accident Cover
Personal accident cover is what pays out if you or someone else is injured while on your bike - whether they're related to you or not. With PAC, the payout will depend on the percentage of income they make on their salary and their net worth.
Engine Protection Cover
Engine protection bike insurance cover pays out if something happens to your bike's engine, such as damage from fire or flooding.
Zero Depreciation Cover
In the zero depreciation bike insurance policy, any damage sustained to your bike won't result in any depreciation in its value. The coverage includes any mechanical breakdowns and accidental damages.
Roadside Assistance Cover
If you want peace of mind, roadside assistance bike insurance cover is one of the most important add-ons to purchase. If your bike suddenly stops on the road and you seek assistance getting your vehicle transported to the workshop for repairs, this roadside assistance cover will help you. It will even provide you with a new replacement vehicle when needed!
Consumables Add-on Cover
With the consumables bike insurance cover, you'll be compensated for anything and everything that goes into maintaining your bike. And that includes spare parts and lubricants!
Tyre Damage Cover
Tyre damage coverage bike insurance add on protects you against any punctures that occur to your tyres during a ride. It also protects against bad weather conditions like snow and ice. Like many other add-ons, tyre damage cover works by paying for the cost of replacing damaged tyres or repairing them.
Return to Invoice Cover
If you have Return to invoice bike insurance cover, any repairs done to your bike would be reimbursed up to the value of the original invoice price.
Accessories Cover
You might think of an accessories cover as just being able to replace some broken parts on your bike, but it does more than that. The accessories cover is designed to compensate for any wear and tear of items such as tyres, chains, brake pads, etc.
Medical Cover
A medical cover takes care of any medical expenses that you or your family may incur due to an accident. Whether it's in hospitalisation, surgery, rehabilitation, therapy, or inpatient care, the medical cover will pay out accordingly.
NCB Protection Add-on Cover
NCB protection in bike add-on cover protects your NCB discount even if you claim in a policy year. That makes it clear that NCB comes to you when you don't claim. However, the add-on won't allow more than two claims during the policy period. If you do beyond that, the NCB will reduce to zero.
Benefits of Add-on Covers in India
Despite being available for an additional premium, the bike insurance add-on covers add value by helping you in unforeseen circumstances. Let's check the benefits of these covers in detail.
Helps You Save on Repairs and Maintenance
You can use the add-on covers to get discounts on the repairs and maintenance of your bike. It will help you keep your bike in good condition and save money in the long run.
Protects Your Bike from Natural Disasters
The add-on covers protect your bike from damage caused by natural disasters such as floods, earthquakes, and storms.
Safeguards Your Bike from Depreciation
When you pay for a zero depreciation add-on cover, you are paying for the depreciation of your bike when it is damaged. If a tree falls on your parked bike or someone hits it with their car while it's parked, the insurer would compensate you for depreciation along with the other eligible claim amount.
Keeps Your Renewal Discounts Intact Even When Claiming
NCB stands for no-claim bonus. It comes into play if you have not made any bike insurance claims within a certain time. For every year you don't file a claim, bike insurance companies will provide an additional discount on your premiums. However, all that becomes zero with a single claim. Having an NCB protection add-on cover helps ensure premium discounts even while claiming, improving your insurance experience.
The Bottom Line
Add-on covers are a must if you're looking for complete protection for your bike. Not only do they provide financial protection in the event of an accident, but they also cover events like theft, natural disasters, and more. In India, where bike insurance is mandatory, it's especially important to ensure you get the coverage you need. So before you purchase a policy, ask about add-on covers and get the suitable ones added to your two-wheeler insurance policy.
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