Bike insurance policy is a part and parcel of every two-wheeler. It is mandated by the Motor Vehicles Act, 1988 and should be bought. You must always compare two-wheeler insurance available in the market and choose the one that is apt for you. You can easily buy bike insurance online. Since motorbikes are riskier than four-wheelers, you may need to go for a comprehensive coverage, which provides optional add-on coverage features.
Additional coverages become more relevant if you own an expensive motorbike which has a higher maintenance cost. Add-ons like passenger cover, zero depreciation cover; accessories cover etc. will increase the scope of coverage and protect you from varied expenses and losses. You have to pay an additional premium to get their benefits.
Some of the available add-on covers with their importance and tips of choosing them are listed below:
#1 Zero Depreciation Cover
In a simple bike insurance policy, the bike owner is responsible for the payment of depreciation on parts after an accident. By adding ‘Zero depreciation cover’ to your existing plan with extra premium, your insurer will bear the cost of depreciation.
Why is the cover required -This add-on is useful for sports bike where the parts are costly. This plan includes mending or replacement charges of plastic, rubber and fiber components of the motorcycle. If you have a new bike, you should choose this add-on for a better coverage.
#2 Pillion rider cover
Pillion rider cover provides personal accident cover for the person riding on the pillion of the insured bike.
Why is the cover required – Bike accidents, unlike car accidents, are usually catastrophic for both the rider and the co-passenger. The rider’s accident cover plan is present in almost every bike insurance policy. It is the rider’s duty to protect his pillion’s life too. Choosing the ‘Passenger cover’ or ‘Pillion Rider Accident Cover’ will guarantee a benefit pay-out for the co-passengers accidental death or disablement.
#3 Roadside assistance cover
Roadside assistance cover provides 24*7 promise of assistance from the insurance company if your bike breaks down in the middle of the road.
Why is the cover required – This cover is apt for people who use bikes for long distance travel. Situations will arise when your bike may break down in some remote area and there are no garages available nearby. This extra coverage will make sure that the insurance company will get your bike repaired even in deserted areas where there is no help. The service is available day and night.
#4 Accessories cover
Accessories cover provides coverage against the damage of your bike’s accessories.
Why is the cover required – This cover is best for bike owners who fancy adding electrical and non-electrical components to their two-wheeler. ‘Accessories cover’ will ensure that you get reimbursement on replacement or repair of the vehicle accessories covered.
#5 Return to Invoice Cover
Return to Invoice cover provides you the invoice value of your bike in case it is completely damaged or stolen.
Why is the cover required – This cover is useful if your bike gets lost or is wrecked beyond repairs. Under this add-on coverage, you are entitled to get the invoice value of bike irrespective of the vehicle’s age. Thus, the cover provides the money to buy a new bike.
Tip
There are other add-ons also which you should consider and choose if they are suitable. These include –
- Personal Accident Cover: In case, you undergo an unfortunate accident on your bike, this cover ensures that you get the needful medical attention on time. Expensive hospital charges are unaffordable.
- Consumable cover: Consumable for bikes are nuts and bolts, lubricants, tires, engine oil etc. Cost of these consumables are not covered in your ordinary claim. They can be included in your insurance plan by paying for this cover.
Above mentioned add-ons may not be offered by all the companies. You must compare two-wheeler insurance and the add-ons they provide, before picking the right one. Not all add-ons are needed for a buyer. It depends upon your requirements. Roadside assistance, passenger cover and zero depreciation covers are the basic ones that are indeed helpful in overcoming the expenses caused by any uneventful threat of an accident. Investing in some of these add-ons when you buy bike insurance online will actually make your ride and life stress-free.
Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.
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