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Why Comprehensive Cover Is a Must for Your Sports Bike?

By Vikas Chandra Das
21 July 2022, 11:46 AM

If you are a bike rider, riding a superbike definitely is on your bucket list! For newbies who don’t know what a super-bike is - sports bikes or superbikes are those bikes that usually have an engine capacity of over 600cc. You can slow down and speed up within seconds and show off that beautiful design while you are on the road. Superbikes are also known for their superior mileage when compared with other standard bikes. With all those extra features, it is obvious that sports bikes are more costly. Due to this fact, the cost of a two-wheeler insurance cover for a sportbike is also higher. 

Why Two-wheeler Insurance is Significant for a Sports Bike? 

We know that sports bikes are the most expensive bikes on the market. Therefore it is extra important to keep them insured. But here are some extra reasons why you should be considering a reliable insurance plan for your bike. 

  1. The Insured Declared Value (IDV): It is very obvious that the market valuation of your bike is greater than that of a standard bike.
  2. Premium Accessories: Apart from the bikes, the individual parts as well as the accessories are equally valuable.
  3. Better Engine Capacity: The thing that sets a super-bike apart from the normal bike is the high engine capacity. Since super-bikes have an engine of 600cc or higher, they need to be well maintained.

Why Comprehensive Cover is a Must for your Sports Bike?

Getting a Comprehensive cover is recommended for all bike owners, especially super-bike owners. It provides financial security in unexpected cases like an accident or theft. However, before purchasing it is important to understand the policy terms in detail. Comprehensive bike insurance includes the following: 

1. Third Party Liability 

Having a Third-party Liability cover is mandatory as per the Motor Vehicles Act, 1988. Since Third Party Cover is included in the cover, you can pay file for a claim in case of any damage or loss caused to a third party person or property. The total compensation amount depends on the damage. In the case of a severe accident, the remuneration amount can be very high. Having an active Third Party Liability cover provides financial safety for the owner-driver. 

2. Own Damage Protection 

Even the smallest parts and gears of a superbike are relatively more expensive. In case of damage to the bike due to an accident, the cost of fixing or replacing these parts can lead to a huge bill. However, under this cover, your insurance provider will bear the expenses for repairing the insured bike. The amount depends on the terms and conditions of the insurance plan. You can even avail the cashless servicing at one of the network garages approved by your insurance provider. 

3. Personal Accident Cover 

A Personal Accident Cover is a medical coverage in the name of the owner of the insured sports bike. In the unfortunate event of an accident, the Personal Accident Cover takes care of the hospital bills, drugs, and treatment expenditure. Even in the case of death or total disability, the nominee of the owner is offered financial help from the insurance provider. Personal Accident Cover of INR 15 lakhs can be claimed under this cover. 

4. Add-ons Options 

A variety of valuable Add-on Covers can be added to a Comprehensive Bike Insurance. Some of the common Add-ons include Zero Depreciation, Engine Protect, NCB Protect, Roadside Assistance, Personal Accident Cover for the Pillion Rider, etc. Since these are not mandatory, it is important to pick only those that best suit your needs. 

5. Theft

The chances of theft of a superbike are very high. A comprehensive bike insurance plan will provide financial safety in case your bike is stolen. Your compensation will depend on the "Insured Declared Value" or (IDV), the market value of the bike at the time of purchasing the insurance plan. In the event of theft, you will be paid the sum equivalent to the IDV of the bike. 

6. Natural And Man-made Calamities 

Common natural calamities like floods, earthquakes, landslides, etc can lead to unwanted expenses of repair. Under a Comprehensive cover, you can claim for compensation against these natural calamities. Moreover, it also covers you against man-made events like riots, bandh, etc. 

Recommended Add-on Cover for your Sports Bike 

1. Zero Depreciation Sport Bike Add-on 

Each vehicle undergoes wear and tear with regular use. This leads to deterioration in its market value. As time passes, there is a decrease in its financial worth. This can lead to loss of a percentage of the premium amount at the time of filing for a claim. However, this can be avoided by opting dor a Zero Depreciation Add-on. Under zero depreciation add-on cover, your insurance providerwill not consider any deterioration. Your bike will be valued at the original market value as per the policy terms.

Let’s understand these numbers with an example: 

Nishant Sharma got a brand new KTM 890 Duke R worth INR 10,00,000. While riding with his friends, he meets with an accident. The tentative cost of damage to his bike and its parts including the depreciation would be -

ParticularsCost of Damage (in INR)Cost of Damage with Zero Depreciation Cover(in INR)
Damage to tires10,0000
Damage to Plastic Parts10,0000
Damage to Fibreglass Parts6,0000
Labor Cost7,0000

*PRO-TIP: Zero Depreciation Add-on is only available for bikes that are five or fewer years old. 

2. Accessories Add-on 

As the owner of a super-bike, you may be tempted to add various stylish accessories to your bike. However, these items may get severely damaged in case of an unforeseen accident or natural calamity. Having an Accessories Add-on will provide an extra layer of protection to your bike.

3. Engine Protect Add-on

The engine is the most significant piece of any super vehicle. To maintain its high output, it needs to be well-maintained. However, damages caused to the engine is not covered under a standard Comprehensive plan. Therefore, it is important to consider an Engine Protect Add-on, particularly for your super-bike, along with the Comprehensive Cover. 

4. Key Protect 

Like the name suggests, under this add-on cover your insurance provider will bear the expenses of fixing or changing the keys to your super-bike. The keys and bolts of a super-bike are the best in class these days, it is important to keep them protected from thieves. 

5. NCB (No Claim Bonus) Insurance

No Claim Bonus (NCB) is a reward for being a safe rider and not raising a claim during the term of your policy. If you are prone to speeding, the chances of raising a claim are higher. If you are a regular rider, a No Claim Bonus (NCB) insurance Add-on will guarantee that your NCB discount never drops to zero, even if you raise a claim. 

Summary: Riding a super-bike is a thrill in itself! However, there can be severe consequences for those who love speeding around town. Apart from the legal penalty, a two-wheeler insurance policy protects you against unforeseen financial troubles. Before purchasing two-wheeler insurance for your sport-bike or super-bike, make sure you understand the coverage as well as the exclusions. Opting for a few recommended Add-on covers will make the riding experience stress free. 

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