Is your 2 wheeler insurance policy up for renewal? If yes, going online and getting it renewed is a piece of cake these days. But hold on, there seem to be a lot of options under optional coverage that you don’t quite seem to wrap your head around it. If that is the case, read on to find out more about the add-on covers available for your two-wheeler and determine whether they are a useful choice –
As with any insurance coverage, there are a number of add-on or optional covers available with a two wheeler insurance policy. As the name suggests, these supplementary top-up options enhance your basic bike insurance coverage limits. Opting for such add-on covers is naturally going to increase the premium amount. Thus, it is important that you choose them wisely with a proper understanding of them. With this in mind, let’s take a look at some of them:
- Medical Cover
This add-on cover can prove to be a life-saver for you, literally. The medical cover takes care of the medical expenses arising from an accident involving your two-wheeler. With the high cost of medical treatments, this add-on can prove to be very useful.
- Zero Depreciation cover
Also called as Nil Depreciation or just ‘nil-dep’ cover, it insulates you from paying for the repair cost of degradable spare parts including plastic as well as rubber components of your two-wheeler. This cover is beneficial because more often than not, the insured has to pay a huge price towards depreciation or in other words, replacement of spare parts in the event of an accident.
- Pillion cover
A pillion cover extends the benefits of an accident cover protection to the pillion rider in addition to the driver.
- Accessories cover
The accessories of your bike/scooter are prone to a lot of wear and tear over time. Opting for this cover will secure you against the costs of replacing these accessories with an increase in your two-wheeler insurance premium.
These were a few add-on covers that you can opt for your two-wheeler. There a host of benefits you receive with them. Roadside assistance is one of them. This feature comes in very handy if your two-wheeler breaks down in the middle of nowhere. Also, you get the benefit of cashless repairs at any of the insurance companies’ network garages. In addition to these, accessories protection and spare part replacement coverage insulate you from the financial implications arising out of replacement costs so that you have a totally worry-free with respect to your two-wheeler maintenance.
As discussed initially, the add-on covers offer great benefits, but with an increase in the premium amount. Hence, make sure you opt for the add-on covers after careful consideration of your coverage requirements and the cost it entails. One way that will help in this regard is to go online for your two wheeler insurance renewal and compare the add-on covers offered by insurance companies accordingly.