Top Add-On Covers For Two Wheeler Insurance – Forbes Advisor INDIA

Two-wheelers are an essential part of transportation in India. With over 15 million unit sales, two-wheelers are the first choice for many. According to the latest government stats, millions of two-wheelers are running on the Indian roads. Also, India is the top country to face fatal road accidents in the world. Keeping all this in mind, having good insurance coverage for your two-wheeler becomes important. 

Now, in India, there are tons of insurance companies, plans, offers, and benefits. Choosing the best bike insurance between these can become a daunting task—especially for add-ons. To fully cover your vehicle under insurance, add-ons play an important role. Choosing the right add-on for you can save you a lot of money in your time of need. To help you with that, we are providing you with the list of top add-on covers for your two-wheelers.

What is Add-on Cover in Two Wheeler Insurance?

Whenever you buy insurance (comprehensive insurance), there are many add-ons you can add to your insurance coverage. This simply means these add-on covers are additional coverages that secure your vehicle. 

With some additional premium amount, you can add your add-on or even opt for the standalone add-on for your two-wheeler. However, adding your add-on to your basic plan works best. Acting as a cherry on the cake, this significantly enhances your insurance coverage. Now, there are tons of two-wheeler add-on covers, from zero-depreciation to engine protectors, there are many to choose from. 

List of Add-on Covers in Two Wheeler Insurance

These are the add-on covers for the two-wheeler insurance. The availability of two-wheeler insurance add-ons varies from one insurer to another.

1. Zero Depreciation Cover

Vehicle’s wear and tear occur naturally with time. By default, the burden of bearing the cost of depreciation falls onto the shoulders of the owner. In the case of damage, the zero depreciation add-on cover allows the owner to cover depreciable parts like bolts and nuts, glass, fiber, nylon, plastic, and even rubber components. 

This reduces the burden regarding depreciation expenses, allowing you to claim a bigger amount from the insurance. It also ensures 100% claim settlement. Many insurers allow the policyholders to make unlimited zero depreciation claims during policy tenure. 

2. Consumables Cover

The consumables add-on cover provides coverage related to all consumables of the two-wheeler. This means it covers grease, fuel filter, oil filter, brake oil, lubricants, nut and bolt. These items are not usually covered by the standard insurance. 

3. Key Loss Cover

The key loss add-on cover provides the policyholder coverage related to the loss of keys. It is among the most claimed two-wheeler add-ons. This cover also provides a spare key in the minimum possible time.  

4. Accident Cover For Pillion

The pillion cover ensures the total safety of the pillion rider. In case of an unfortunate accident, partial or permanent disability, and even death, the cover provides financial treatment and ensures compensation for the same.

5. No Claim Bonus Protector Cover

Generally, everyone is aware of the bonus discounts of up to 50% for a claim-free year. This no-claim bonus protector cover helps the policyholder earn at least a 20% to 50% discount on the policy renewal for a claim-free year.

6. Engine Protector Cover

In any unfortunate event of an accident or damage, the repair of an engine is costly. Most standard insurance doesn’t cover this. This is where the engine protector cover comes into the picture. With this, you can protect your engine from damages due to leakage of lubricating oil, clogging due to water or flood-prone areas, etc. 

7. Accessories Cover

Some standard insurance doesn’t cover the damages related to electrical or non-electrical accessories. This accessories add-on cover ensures the hefty repair or replacement of the accessories of your two-wheeler. 

8. Return To Invoice Cover

Return to invoice cover allows the policyholder to avail full invoice price of your two-wheeler in case of theft or total loss. Basically, it ensures its true value. 

9. Daily Allowance Cover

This add-on cover allows the policyholder to claim the daily allowance from the insurance company when your two-wheeler is lost or out for repairs. 

10. Tyre Damage Cover

This tyre damage add-on cover protects the policyholder from damages related to tyre puncture, bursting, cut on a tyre, and in-tyre bulge. 

Benefits of Add-on Cover in Two wheeler Insurance

The standard comprehensive insurance does cover the entire vehicle. But, add-on covers for two-wheelers ensure the maximum amount or 100% claim settlement for the policyholder. The add-ons separately cover the parts and other losses to the vehicle, including the pillion.  

1. Ensures maximum claim settlement – By paying a bit extra premium, the policyholder ensures the maximum claim settlement by covering depreciation cost, specific parts, and other important factors.  
2. Retains no-claim bonus discounts – In case of an unfortunate accident or damage, if opted for the NCB cover, the policyholder can easily retain their no-claim bonus discounts in the upcoming premium payment cycle. 
3. Protects the pillion – The add-ons can save the pillion driver if opted for them. This is something comprehensive insurance doesn’t cover. So, having the add-on of a pillion cover saves lives. 
4. Gets you the invoice price – If the policyholder opts for the invoice price cover add-on, then at the time of loss or damage, they can easily get the invoice price of the vehicle without any hassle. 
5. Gets roadside assistance – To safeguard the policyholder from unwanted damage in the middle of a desert or a remote area road, a roadside assistance add-on cover comes to your rescue. 

Bottom Line

Buying comprehensive insurance is good. But, as the name says: having an add-on ensures the maximum claim settlement including the depreciation cost and Pillion’s safety. So, by paying a bit extra premium, having an add-on with your standard comprehensive insurance is beneficial. You can choose for yourself based on your requirements and pocket.