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Shriram Two Wheeler Insurance Add on Covers
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The Indian Motor Vehicles Act, 1988 governs two-wheeler insurance regulations throughout the country, whereas the Insurance Regulatory Development and Authority of India (IRDAI) regulates insurance companies and the policies available under their offers. Discussing the two-wheeler insurance, it's a type of vehicle insurance that is categorized under the umbrella of general insurance.
Regardless of how many luxury cars you have, the craze of riding your bike is always on the next level. While most of us are more than satisfied with the comprehensive two wheeler insurance, which we believe satisfies all of our insurance needs. But is that sufficient? Definitely, not. Purchasing two-wheeler insurance add-ons is a smarter choice that you can add to your two-wheeler insurance policy to improve its coverage. However, to do so, you must first buy valid comprehensive/standalone own damage insurance.
The insurance companies offer several add-ons that you can select to make your bike insurance more extensive. With numerous options, it might become difficult to choose some specific add-ons.
Hence, here are the top most-chosen add-on coverages of Shriram two wheeler insurance and recommended for you to add to your two-wheeler insurance policy. Keep in mind that these add-ons come at an additional cost over and above your regular insurance coverage. But don't worry, it won't break the bank, and it'll be well worth it.
Shriram Two Wheeler Insurance- Important Add-on Covers For Your Bike Insurance Policy
Zero Depreciation Add-on
After an accident, the majority of the time, the bike owner is responsible for the depreciation and replacement of new spare parts. However, if this expense is to be reimbursed by the insurance company, the nil or zero depreciation add-on must be purchased in addition to the existing insurance plan. With this add-on, the insurance company won’t be able to deduct the depreciated value/cost of your bike hence you would be able to get the full claim amount.
Roadside Coverage Add-on
The roadside assistance add-on helps you in instances where you need assistance while riding your two-wheeler on the road. The service includes everything from on-the-spot bike repairs to towing or cab assistance to get you to your destination. The add-on provides roadside help to anyone who is stuck within a 500-kilometer radius of the city center.
Electrical & Electronic Accessories Add-on
Only damages sustained during the accident are covered under a regular two-wheeler policy. However, your bike’s electrical accessories may suffer more damage as a result of the accident. This particular add-on protects you from the damages resulting from the accident. For example, problems that may occur due to the breakage of electronic accessories that may cost hefty to you to repair/replace.
Pillion Cover Add-on
The pillion cover add-on is a legal insurance protection to compensate the loss if some mishap happens with the person sitting behind the driver while the former person is riding a two-wheeler and encounters any accident. With this add-on, the pillion gets compensated if he dies, is injured, or gets affected due to the accident.
Geographical Extension Cover Add-on
This add-on cover allows policyholders to enhance their policy coverage beyond set geographical limits. In usual bike insurance policy, damages happened to the insured bike beyond set geographical limits won’t be covered. But with this add-on, you can extend the geographical coverage of your bike.
Add ons for your Two Wheeler Insurance
Shriram Bike/Two Wheeler Insurance Add on Cover FAQs
1. What does add-on mean in Shriram two-wheeler insurance?
Add-on covers in two-wheeler insurance refer to additional coverage that can enhance the coverage of a regular policy for an additional fee. Zero depreciation coverage, roadside assistance coverage, are a few examples.
2. How many add-ons can I purchase with a single Shriram bike insurance policy?
The number of add-ons that you can purchase with a bike insurance policy is unlimited. You can customize your policy with as many add-ons as you want.
3. Are add-on covers necessary for Shriram two-wheeler insurance?
Bike insurance add-ons are not necessary, but they are recommended because they enhance the coverage of your ordinary insurance policy.
4. What factors should I consider before buying Shriram two-wheeler insurance add-on?
Before buying the policy, you should understand the features, coverage, and premium amount of a bike insurance add-on.
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