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Why is add-on cover required in bike insurance?

Bike insurance is vital. Not only can't you legally take your bike out without insurance, but you need a bike insurance cover also for various other reasons. And while a basic plan offers some key benefits, you must look at the add-on covers to ensure you get the most out of your bike insurance policy. The add-on covers, or the riders, help you customise your insurance plan as per your own requirements.

What is an add-on cover in bike insurance?

An add-on cover is some extra protection that you get over and above the basic cover at an added cost. Your basic bike insurance plan offers some basic covers that may not be sufficient for you. Every insurance provider has various riders on offer. Unlike a basic two-wheeler insurance plan, the riders are not compulsory for you to own. You can buy all the available riders, or choose the ones that specifically suit your requirements by paying an extra premium.

Why is an add-on cover in bike insurance needed?

It makes a lot of sense for you to buy a few riders in bike insurance. The reasons are mentioned below:

·         Maximum protection: A rider attached to your basic bike insurance plan makes the entire bike insurance cover flexible and offers maximum protection. Add-on covers such as the zero-depreciation cover or the accessories cover can help you save a lot of money at the time of a claim.

·         Inexpensive: Bike insurance is a relatively cheaper type of motor insurance. The add-on covers are also available at a low cost. This makes it very affordable for you to buy a few riders along with your basic bike insurance plan. The nominal price that you pay today can lead to a large financial profit later.

·         Extra sum assured: Most add-on covers in bike insurance work by paying an additional claim amount if there is an accident or mishap. This is usually separate from the basic claim amount. So, you get an extra sum of money at a crucial time and this puts a break on all the extra spending you may otherwise have to carry out. 

What are the popular add-on covers in bike insurance?

Let us now look at the popular bike insurance riders:

1.       Zero depreciation cover: Every vehicle goes through a certain amount of wear and tear. As a result, the value of the vehicle and its parts depreciate with time. So, when there is an insurance claim, the insurer takes the reduced value into consideration and only makes a part payment. As the bike owner, you must pay the remaining amount, which can be a lot. A zero-depreciation cover protects you from this and negates the depreciation factor at the time of a claim.

2.       Medical cover: To ensure you get the best possible medical attention after a serious road accident, opt for a medical cover. You will get an additional sum assured which will make it easy for you to afford the best hospital in town.

3.       Accessories cover: Many bike owners install accessories in their vehicles. These accessories may be installed to enhance the look or the performance of the bike. Either way, most of these are very expensive and require an insurance cover. With the accessory cover rider, you can make a claim if any of the accessories in the bike are damaged or stolen.

4.       Passenger cover:Bike accidents can be fatal both for the rider as well as the person accompanying the rider. Death rates and injuries too can be at a higher scale. The rider is covered under the two-wheeler insurance cover however the pillion isn’t. Therefore, opting for a passenger cover for the pillion would be a better option to cover partial or complete disabilities in case of an accident.

In a nutshell

To put it in a nutshell, there are many reasons why you need an add-on cover in bike insurance. As you can see from the points mentioned above, there are many benefits you get from taking a rider. So, analyse your requirements, see what options you have and then opt for the best possible bike insurance cover.
Why is add-on cover required in bike insurance? Why is add-on cover required in bike insurance? Reviewed by Frederick fulton on 23:04 Rating: 5