Find out how add-ons improve the two-wheeler insurance policyby Kanika Shelatkar Insurance Consultant
Buying 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.
Created on Jan 6th 2020 06:33. Viewed 358 times.