Top Up Your Bike Insurance with these Add-on Covers this Diwali

Posted on: Oct 28, 2024 | 3 mins | Written by: HDFC ERGO Team

Top Up Your Bike Insurance with these Add-on Covers this Diwali

As Diwali approaches, it’s a great time to review your financial safety net, including your bike insurance. Whether you're considering purchasing a new policy or planning to renew your existing insurance, adding extra protection to your basic plan can provide peace of mind.

Let's explore the essential add-on covers you can opt for to enhance your comprehensive insurance plan.

What Are Two-Wheeler Insurance Add-On Covers?

When it comes to safeguarding your bike, standard vehicle insurance types provide only basic protection. However, your comprehensive bike insurance plans can be extended with add-on covers to get an extra layer of safety. These covers, available at a slightly higher premium, significantly increase the coverage of your bike, ensuring you’re not left in a lurch during unfortunate incidents.

Crucial Add-ons that You Must Have this Diwali

Here are some beneficial add-ons to consider while buying or renewing your bike insurance online.

1. Zero Depreciation Cover

Bikes depreciate over time, which means their value decreases every year. Normally, this devaluation isn’t covered by your insurer, and you end up paying a portion of repair costs from your pocket.

However, a zero depreciation bike insurance cover ensures that your bike's full value is protected in case of damage. This add-on eliminates the depreciation factor from your claim settlement, ensuring you receive a higher claim amount. While some insurers offer limited claims under this cover, others provide unlimited zero depreciation claims during the policy term.

2. Roadside Assistance Cover

Have you ever had a breakdown far from home? Roadside assistance cover is your backup plan. It provides immediate help if you’re stranded on the road due to mechanical issues, a flat tyre, or even a dead battery.

This emergency assistance bike insurance add-on is a must-have for frequent travellers and is particularly helpful during long journeys. It covers towing services, minor on-the-spot repairs, and even fuel delivery, making it one of the most practical riders for bike owners.

3. Engine Protection Cover

If you live in a region prone to flooding, the engine protection cover is something you cannot overlook. Engine repairs are often expensive, and a standard policy doesn’t typically cover damages caused by water ingression, lubricant leakage, etc.

With the engine protection bike insurance add-on, you’re financially covered for any damage to the engine and its parts, ensuring you won’t have to bear high repair costs out of pocket.

4. Consumables Cover

Many parts of your bike, such as screws, nuts, bolts, engine oil, and brake fluid, are considered consumables and are not covered by standard insurance. The consumables cover covers the expense of repairing or replacing these minor components. Without the rider, the maintenance cost of consumables over time can add up to a substantial amount.

5. Return to Invoice Cover

If your bike is stolen or suffers total damage beyond repair, your regular insurance might not compensate you for the full cost of a new vehicle. This is where the return to invoice cover becomes essential. It covers the gap between your bike's insured declared value (IDV) and the actual invoice value, ensuring you can purchase a new two-wheeler without suffering a financial loss. This add-on is highly recommended for those with new bikes or for anyone who doesn’t want to compromise on replacing their lost vehicle.

6. Passenger Assistance Cover

A regular insurance policy typically covers only the rider, but accidents don’t just affect the person behind the handlebars. The passenger assistance cover provides financial compensation for the pillion rider in case of accidental injury, disability, or even death. This add-on ensures your loved ones are also protected while riding with you, offering peace of mind on every journey.

7. Key Loss Cover

Ever misplaced your bike keys? It can be a stressful situation, but the key loss cover takes away that worry. This add-on compensates you for the cost of replacing your lost or stolen keys. Some policies even offer a spare key service, which can be a lifesaver when you're in a hurry.

8. Daily Allowance Cover

When your bike is being repaired after an accident, getting around can be a challenge. The daily allowance cover provides you with a fixed sum of money each day for your transportation while your bike is out of service. This can be particularly helpful if you rely on your two-wheeler for your daily commute or work.

9. Loss of Personal Belongings Cover

If you carry valuable items on your bike, such as a helmet, phone, or even documents, the loss of personal belongings cover is worth considering. This add-on compensates you for any personal items lost or damaged during an accident. It's a small but useful cover that adds an extra layer of security to your bike insurance policy.

10. Tyre Protection Cover

Tyres are one of a bike's parts that most frequently get damaged, yet they aren’t typically covered under standard insurance. The tyre protector rider covers issues like punctures, bulges, and cuts resulting from accidents. By including this add-on, you can save on the costly repair or replacement of tyres, which is often an unexpected expense.

11. No Claim Bonus (NCB) Protection

Maintaining a claim-free record earns you a No Claim Bonus (NCB) that reduces your renewal premium. However, filing even one claim can cause you to lose this bonus. The NCB protection cover safeguards your bonus, allowing you to claim without affecting your NCB. This add-on is particularly valuable for those who have built up a significant discount over the years and don’t want to lose it for a minor claim.

Why Choose Add-On Covers This Diwali?

As the festival of lights approaches, it’s the perfect time to ensure your bike is fully protected. When you renew bike insurance this Diwali, adding extra coverages can significantly enhance your plan. Here are the benefits of including add-ons to your comprehensive insurance plan:

Extra Protection

Basic bike insurance may not cover specific damages, such as engine breakdown or key loss. Add-ons fill these gaps.

Cost-Effective

Add-ons like zero depreciation and roadside assistance cover come at a minimal cost compared to the benefits, making your insurance more comprehensive.

Peace of Mind

With the right add-ons, you can ride confidently, knowing your bike is protected during emergencies or repairs.

Conclusion

This Diwali, give your bike the protection it deserves by enhancing your two-wheeler insurance with practical and valuable add-ons. From zero depreciation to roadside assistance, these covers ensure you’re safeguarded against unexpected expenses while riding. Consider these options to keep your bike safe and enjoy a stress-free festive season!

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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