India is one of the largest consumers for two-wheelers in the world. It might be great news for bike manufacturers, but not so much for riders. As the number of vehicles on the road increases, the probability of occurrence of incidents also increases.
While one cannot stop the influx of new bikes on the road, an individual can minimize the chances of being financially affected due to accidents. How do you ask? Well, simply buy an online two wheeler insurance policy. It would not only offer you legal clearance, as mandated by the Motor Vehicles Act of 1988 but also offer much-needed coverage. In the event of an accident or any incident, your bike insurance will keep you financially safe.
If you renew bike insurance, make sure to purchase a comprehensive plan. While it might cost a bit more than a third-party liability policy but it offers so much more as well. When you renew bike insurance, you can choose to pick add-ons as well. Here is a list of 5 add-ons that you should include in your bike insurance.
1. Personal Accident Cover
This add-on offers health coverage and sum insured in the event of any unforeseen incidents. By paying merely INR 750 per year, you can secure a sum insured of INR 15 Lacs. The policy is quite handy in cases such as accidental death, total permanent disability or partial permanent disability. The sum insured was INR 2 Lacs earlier, but recent modifications have ensured that it is updated to INR 15 Lacs. This cover is usually included in your bike insurance policy.
2. NCB Protection Cover
The No Claim Bonus is applicable if you have not made any claims during the previous term of the policy. Most experts recommend skipping minor repairs so as to retain the NCB. However, with an NCB protection add-on, you need not worry about any such repairs. This add-on would ensure that your NCB is intact even though you make a claim.
3. Roadside Assistance Cover
If you are someone who likes to go on long rides, having a roadside assistance cover is a must. While buying online two wheeler insurance, you can opt for this add-on. Your insurance would ensure that you receive round the clock emergency services in the case of a breakdown or accident. Some common services include a change of tire, towing, refueling, getting a mechanic to fix issues, etc.
4. Engine Protection Cover
The engine is the most critical part of a bike and needs additional protection. This add-on ensures complete peace of mind by offering engine coverage. Usually, a comprehensive plan doesn’t cover the protection of engines. It can be particularly helpful for people who stay in areas which are prone to natural calamities such as floods, cyclone etc.
5. Zero Depreciation Cover
The zero depreciation or zero dep is one of the most popular and sought-after add-ons. It is a highly recommended cover when it comes to new bike owners or new riders. The add-on ensures that your insurer would consider the actual price of repairs and not factor in depreciation into it. Should you own a comprehensive plan along with zero dep cover, your insurer will pay the depreciation costs.
The Bottom line
Yes, add-ons do come at some extra cost. But if you consider the unmatched benefit that each of them provides, it is hard to ignore them. When you are buying online two wheeler insurance, you can add these to your policy and enhance its coverage several folds.
While you are at it, do not forget to compare bike insurance. When you compare bike insurance, you get the best of both the worlds. In essence, you get the best policy with sufficient coverage without paying a lot of money for the same. It would also save you a lot of time and effort, should you decide to compare and a buy bike insurance policy.