If you own a comprehensive two-wheeler insurance and have already made some claims, you’d probably know that it doesn’t always pay the entire expense you have incurred. So how then, as a two-wheeler owner, can you make sure to safeguard your bike against any and all possible expenses and actually get the full reimbursement? Fret not. This page gives you all the information about various different add-on covers that can come to your aid and give maximum coverage for all your costs. These add-ons can be included to your existing comprehensive policy, provided that you pay an extra premium.
No Depreciation Cover
When a bike owner meets with an accident, the responsibility to pay for the depreciated parts usually falls upon them. However, there is one way for them to make the insurance companies cover the expense instead. This requires the owner to buy a ‘No Depreciation Add-on Cover’. This cover pays for any replacement or repair costs of plastic, rubber, or fibre components in the bike. So, add a cover such as this to your comprehensive plan right away to protect yourself from having to make any out-of-pocket payments in the future.
Pillion Accident Cover
When compared to cars, bike accidents can turn fatal way too quickly for both the rider and the pillion. In most cases, they might even lead to serious injuries or death of the rider and their co-passenger. In other words, when an accident happens both of them run the risk of getting severely injured. One way to avoid paying for the impending medical costs yourself would be to buy an accident cover. This cover is basically targeted at pillion riders and allows you to get a cover of Rs.2,00,000 in case of death or permanent disability.
An accessories cover will basically cover any and all of your expenses made on electrical and non-electrical components and accessories of your vehicle.
Daily Cash Allowance Cover
A daily cash allowance is a cover which basically covers the cost of your regular commute in case your two-wheeler is stuck in a garage for more than 4 days or so. One thing worth noting here is that vehicles don’t often stay in the garage for more than 3-4 days, which basically means this cover won’t be used as much.
Roadside Assistance Cover
Cars aren’t the only vehicles that require roadside assistance, two-wheelers do too. Imagine you are driving around the Western or the Eastern Ghats and your bike suddenly gives up on you, and you can’t find a garage nearby. Having a roadside assistance cover will help get your vehicle serviced or repaired in case you are stuck in a deserted place with no help to be found.
No Claim Bonus Protection Cover
While there are plenty of people who apply for claims, there are also those careful riders, who don’t apply for any sort of reimbursement. But the way two-wheeler insurance works is, you will lose out on any benefit if you don’t claim for any expenses during the policy term. Having a no claim bonus cover will actually help you get discounts on your next premium payments. The discount you get can go as high as 50% in most cases.
We live in an unpredictable world where accidents happen when you least expect them to in ways you have never imagined. Getting add-on covers on your two-wheeler insurance—like the ones mentioned above—would help you minimise the total cost you are required to pay.