How to Choose Right Add Ons with Bike Insurance Renewal

Learn how to choose the right add-ons based on your bike’s condition, riding habits, and budget to get the most out of your renewal process.

What Are Bike Insurance Add-Ons?

Bike insurance add-ons are additional coverages you can opt for on top of your base policy. These add-ons offer specific benefits not included in a standard bike insurance policy, enhancing protection for both your bike and yourself. While they increase your premium slightly, they are designed to save you money during claims, minimize out-of-pocket expenses, and ensure peace of mind in difficult situations.

Top Bike Insurance Add-Ons to Consider During Renewal

• Zero Depreciation Cover: Covers the full cost of replacing bike parts without accounting for depreciation, ideal for new or expensive bikes.
• Roadside Assistance: Provides help during breakdowns, offering services like fuel, towing, and repairs, especially useful for frequent travelers.
• Engine Protection Cover: Covers engine damage from issues like oil leaks or water ingress, essential during the monsoon or for rough terrain riders.
• Personal Accident Cover for Co-Rider: Ensures coverage for the pillion rider in case of accidents, offering compensation for injury or death.
• Consumables Cover: Covers costs for consumables like nuts, bolts, and oils, which are typically excluded from standard policies.
• Return to Invoice: Reimburses the full invoice value of the bike in case of total loss or theft, avoiding depreciation deductions.
• NCB Protection: The No Claim Bonus in two wheeler insurance is reward that accumulates for every claim-free year and significantly lowers your premium upon renewal.

How to Choose the Right Add-Ons During Bike Insurance Renewal

Choosing the right add-ons depends on various factors that align with your riding habits, bike condition, and personal preferences. Here’s a step-by-step guide to help you make the best choice:

Know Your Riding Habits

Consider how frequently you ride, where you ride, and the conditions you face. For daily commuters, add-ons like roadside assistance and zero depreciation cover may be more beneficial. For those who ride occasionally or only during specific seasons, engine protection may be a key consideration, especially during the monsoon.

Bike Age and Condition

Newer bikes or premium models typically benefit from zero depreciation cover and return-to-invoice add-ons. If your bike is older, you may want to skip add-ons like zero depreciation and focus on protecting against breakdowns with roadside assistance or consumables cover.

Evaluate the Current Policy Coverage

Take a look at your existing policy to identify gaps in coverage. If your base policy doesn’t cover specific areas like engine protection or personal accidents for a co-rider, these add-ons can fill in the gaps and provide the extra coverage you need.

Budget

Add-ons will increase your premium slightly, but they provide long-term savings during claims. Evaluate your budget and prioritize add-ons that offer the most value for your bike and riding needs without straining your finances.

Claim History and NCB

If you’ve maintained a good claim record and accumulated a substantial No Claim Bonus, it’s worth investing in an NCB protection add-on. This will help preserve your discount even if you need to file a claim in the future.

Final Thoughts

Choosing the right bike insurance add-ons during renewal is a smart way to enhance your coverage and ensure better protection. Add-ons like zero depreciation cover, roadside assistance, and NCB protection can provide significant financial benefits in case of accidents or emergencies.

While Bharti AXA Bike Insurance and other insurers offer a range of add-ons, it’s essential to pick the ones that suit your bike and riding needs the most. Carefully assess your current policy, riding habits, and budget to make an informed decision.