Find out how add-ons improve the two-wheeler insurance policy
by Kanika Shelatkar Insurance ConsultantBuying bike insurance is no longer a complex process. Now,
you can buy a policy within few minutes. You can do so from your computer or
even a smartphone as well. The cost part can be dealt with if you spend some
time in 2-wheeler insurance comparison and selecting the right insurance cover.
Picking add-on covers forms a big part of getting the coverage-premium part
right.
What is add-on covers?
Add-on covers are an extra layer of protection. An add-on is
a cover you can buy in addition to your comprehensive two-wheeler
insurance policy. Note that add-on cannot be bought with a basic third-party
liability policy.
What is the effect of add-on covers on insurance
coverage?
A comprehensive plan gives more coverage than a third-party
policy. The comprehensive plan insures your bike against accidents, theft, natural
disasters, as well as third-party liabilities. But it is generic. However, add-on
covers help you to customise. Thus, add-ons increase your two-wheeler’s
insurance cover.
What is the influence of add-on covers on the premium
amount?
A basic third-party liability policy is the cheapest. A comprehensive
plan is costly than a third-party policy and if add-ons are purchased the
premium becomes expensive.
Which are the popular add-ons?
Zero Depreciation: It removes the calculation of
depreciation, leading to a comparatively higher claim amount.
Pillion Rider: It safeguards the pillion rider in case of significant
injuries. It is recommended for those who often ride with someone on the bike.
Engine Protection: It is designed for the main part
of the motorcycle – the engine. It is ideal for those who face frequent
flooding.
Roadside Assistance: Ideal for those who ride them
for road trips regularly. Under this add-on, you can just call your insurance
provider if the motorcycle faces any issues on the road. The insurance provider
arranges for a mechanic or towing van and assist you in fixing the problems.
Who must purchase add-ons?
The answer to this query gets determined by the
two-weheeler’s age and its usage. For example, it makes no sense in purchasing
a pillion rider cover if you are the one who drives it most of the time. Thus, evaluate
your needs and buy add-ons accordingly.
Bike Insurance Online
The new two-wheeler requires new motor insurance and an old motorcycle
with expired insurance requires renewal. Buying new motor insurance was a tiresome
process previously. Now, researching, buying, and renewing 2-wheeler insurance
is easy and fast.
Online bike
insurance can be done from your home and at ease. Bear in mind to first select
the coverage you want, and then go around evaluating motor insurance premium
before purchasing the policy. Though simply buying them online is not enough.
It requires you to renewed them before expiry.
An expired policy provides zero coverage. It means that if
you meet with a bike accident while your insurance is expired, the insurer does
not cover the financial expenses. Also, you might face legal issues.
Whether you are purchase motor insurance for the first time
or renewing it, whether you are taking one or four add-ons, make sure to make a
wise choice by verifying the inclusions and exclusions of the policy carefully.
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Created on Jan 6th 2020 06:33. Viewed 547 times.