insurance

How to maximise your bike insurance with add ons?

About Bike Insurance

Bike insurance is necessary in India. Many people usually purchase a simple third-party liability policy to satisfy this legal requirement, which only covers the cost of third-party damages that might occur as a result of an accident. Although it may be appropriate to keep you out of trouble with the law, this form of bike insurance does not cover damages to your own bike in the event of an accident, nor does it cover your financial loss in the event of robbery.

A comprehensive bike insurance policy, which includes all parties involved in an accident, including your own vehicle, the driver and passengers, as well as the third-party vehicle and its driver, is what you need to ensure maximum safety for yourself and your motorcycle. In addition, a robust program protects against fraud and harm caused by natural and man-made disasters.

Add-ons for Your Comprehensive Policy

What makes a comprehensive policy even better is the amount of versatility it provides, as you can tailor it to your unique needs by choosing from a range of add-ons, known as riders, during your bike insurance renewal. Here’s a list of a few useful add-ons that will help you get the most out of your bike insurance policy and shield you from unexpected costs.

  • Accessory Cover

It is recommended that you cover any accessories you have put on your motorcycle under your policy as well. You can either go easy and install a smartphone mount or go all out and install a slew of modifications on your motorcycle. Whatever the case might be, if you have already paid for the accessories, it is only fair that you also cover them. This add-on becomes much more important because these accessories and improvements are typically not protected by a regular insurance policy.

  • Breakdown Assistance Cover

This add-on will come to your rescue if you find yourself on a quiet road with a broken down motorcycle. In the event that your car breaks down while on the road, your insurance provider will assist you. Leaving your vehicle stranded when you seek assistance will not help you, so it’s best if you have this add-on to protect you in those situations.

  • Zero Depreciation Cover

The value of your asset, in this case, your motorcycle, will depreciate over time. As a result, when you file a claim, you’ll be liable for depreciation as well, which isn’t your fault. As a result, you will get the total cost of your motorcycle with this add-on, eliminating depreciation during claims and repairs.

  • Engine and Gear Protection Cover

In the case of an accident, the regular policy would protect you from any harm to your vehicle. Many regular plans, on the other hand, do not protect you if you suffer consequential or collateral damage to your engine or gearbox. This add-on will help you out in this situation by covering your maintenance costs.

Wrapping Up

There are various add-ons available, but the following list has been compiled with the practicality and average motorcycle user in mind. You can also use other add-ons if required, depending on your needs. You can use Finserv MARKETS’s onlinebike insurance calculator to measure the premium for your policy based on the various add-ons you choose. You can purchase a detailed plan for your two-wheeler in just a few more taps.

After all, it’s still safer to be safe than sorry. Many people see insurance as a burden on their finances, and they later come to regret not purchasing a decent insurance policy with the appropriate add-on. A robust insurance policy is also a must now, more than ever, considering the world we commute in, the condition of the roads, the disregard for protocols, consistent traffic violations, and reckless driving attributes. And, at the end of the day, it’s all about you and the ones who love you.

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