List of Add-on Coverages in Two-Wheeler Insurance Policy
There are certain compulsory coverages offered by a comprehensive two-wheeler insurance that is common to all policies across all insurance companies. These include personal accident coverage, third party coverage and so on. However, if you want some additional coverage, you may always opt for some additional plans by paying extra amount of premium. These are called Add-on coverages.
There is an array of such optional Add-on coverages that comes along with two-wheeler insurance. Some of them are listed below:
- Personal Accident cover for Unnamed Pillion Passengers:
Bike accidents can not only cause harm to the driver or owner but it may also prove to be fatal for the pillion rider commuting along with the driver. This Add-on rider compensates for events like permanent total or partial disability or accidental death of the co-passenger.
- Nil-Depreciation cover:
Depreciation of two-wheeler parts are payable from your own pocket under normal circumstances. However if you want the depreciation cost to be repaid at the time of claim, you need to take up the Nil/Zero Depreciation cover by paying some extra premium. This plan covers the costs of repair of all Rubber, Nylon and Plastic parts and fibre glass components. This is applicable only for two-wheelers that are less than 2-3 years old and will be available only on two claims.
- Invoice Price Cover: If you want to make sure that you get complete coverage for total loss of your bike so that you can purchase another one with it, you need to tag along Invoice Price Coverage plan with your comprehensive bike insurance. If there is total loss of your bike then the insurance company will reimburse the declared value of the vehicle along with the cost of registration, road tax and insurance.
- Medical Expenses:
Medical assistance and treatment is probably one of the most important help required by the driver and his co-passengers in the event of an accident. This can also prove to be highly expensive. This medical Expense cover takes care of your medical bills if your vehicle is insured. The treatment includes injury caused by accidents.
- Hospital Cash:
This is an important coverage as hospitalization, followed by an accident, is the time where you lose onto maximum amount of money. This is the time when you are unable to go for work due to injuries. Certain insurance companies compensate for all the days that you spend in the hospital and this can go up to a maximum of 30 days. However this plan is applicable only if the treatment is received from medical practitioners registered with the medical councils.
These Add-ons are not compulsory and can be taken at your own convenience and as per your requirements and affordability.