Top 5 Add-on Covers For Your Two-wheeler Insurance
A two-wheeler insurance policy is an agreement between you and the insurance company that states that if any damage is done to your bike due to natural calamity or any man-made disaster, the money spent towards its repair will be borne by the insurance company.
Two-wheeler insurance is available for both personal and commercial bikes; use can select the appropriate motorbike policy as per your requirements. There are two types of bike insurance in India:
- Third-party liability insurance.
- Comprehensive two-wheeler insurance.
Why should you have two-wheeler insurance?
Riding a two-wheeler without an insurance policy is illegal in India. Having an insurance policy will not only provide coverage to the rider but also to the pillion. It will also help cover against the damages that may arise due to an accident. Therefore, it is essential to have two-wheeler insurance as it can protect you from a lot of hassles and offer the following benefits:
Reduce financial strain –
If your vehicle is damaged or gets stolen, you will not have to worry about spending money on repairing or replacing it, as your insurance company will take care of it.
You will be secured legally –
Keep a copy of your insurance policy at all times. This will help you in case you meet with any minor accident. Also, it is mandatory to keep a copy of your active insurance, every time you take the vehicle out.
You will be eligible for personal accident cover –
The insurance company will provide a lump sum in case an accident leads to permanent disability. Should the accident lead to an unfortunate, untimely demise, your nominee will get the compensation.
What is an add-on cover in two-wheeler insurance policy?
Most people buy comprehensive policies for their two-wheeler as it is safer and provides better coverage against risk. But even when you purchase a comprehensive policy, there are a few add-ons you can consider buying. Some of the best add-on covers you can consider buying for the two-wheeler insurance policy are:
Zero depreciation –
If you include the zero-depreciation clause in your policy, the insurance company will pay the complete amount for the repair and replacement of the parts. But if you haven’t included the zero depreciation cover, insurance company will pay only the depreciated amount of parts and insured have to bear the remaining cost.
Roadside Assistance –
It is essential to keep this add-on in your policy; two-wheelers are also machines and could stop working at any time. So, to reduce the hassles of your two-wheeler breakdown at odd hours, it is best to include roadside assistance cover in your policy. This will ensure that you get help at any hour just by getting in touch with the insurance company.
Engine Protection Cover –
This cover provides protection against any damage done to the engine due to oil leakage, natural calamities or mechanical issues.
No Claim Bonus –
NCB or No Claim Bonus is not coverage but it is the benefit you enjoy for not making any claim request during the policy year. It is a form of reward that insurance companies offer to people on renewal for the previous policy year.
So, these are the critical add-ons that you need to keep along with your two-wheeler policy to ride your dear bike without any stress. Do not wait any longer and get your bike a comprehensive two-wheeler insurance policy today!