Exploring bike insurance coverage for fiber parts: Whats included?

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07 Aug 2023

Fiber Parts Coverage: Unveiling Inclusions in Bike Insurance

Many bikers opt for fiber parts to give their rides a sleek and unique look. We take pride in our motorcycles and often invest in customizations to enhance their performance and appearance. However, it's crucial to understand how these modifications can affect bike insurance coverage.

Understanding bike insurance coverage

Third-party insurance is the minimum legal requirement in India and covers damages or injuries caused to third parties in an accident involving your bike. It does not provide any coverage for damages to your bike or its accessories, including fiber parts.

A comprehensive bike insurance online policy is more extensive and covers damages to your bike as well as third-party liabilities. When it comes to fiber parts, comprehensive insurance policies might offer some coverage, but it's essential to read the policy document carefully to know the extent of coverage provided.

Coverage for fiber parts

  • Inbuilt fiber parts

Most manufacturers provide bikes with certain inbuilt fiber parts, such as fairings or body panels. These parts are usually covered under the comprehensive insurance policy, but it's wise to check the policy wording to ensure the coverage amount is sufficient.

  • Zero depreciation add-on

Adding a zero depreciation or 'Nil Dep' add-on to your comprehensive insurance plan can significantly enhance the coverage for fiber parts. With this add-on, you can claim the entire cost of replacing fiber parts without accounting for depreciation, which is otherwise deducted from the claim amount.

  • Endorsements

An endorsement is a written agreement that modifies the terms of the insurance contract and explicitly includes the customized fiber parts in the coverage. To ensure that your custom fiber parts are covered adequately, you may need to request an endorsement on your policy.

  • Exclusions

It's crucial to be aware of any exclusions in your policy regarding fiber parts. Exclusion in coverage for certain types of modifications or limit the coverage for fiber parts to a specific value.

Tips for insuring fiber parts

  • When purchasing or renewing your bike insurance, always provide accurate information about the fiber parts installed on your bike. Failure to disclose these modifications may lead to claim rejections.

  • Keep copies of invoices and receipts for the fiber parts installed on your bike.

  • As your bike undergoes changes and upgrades, review your insurance policy regularly to ensure that your fiber parts remain adequately covered. Inform about any modifications to avoid any claim-related issues in the future.

Conclusion

Customizing our bikes with fiber parts adds a touch of personalization and uniqueness to our rides. While comprehensive insurance might offer some coverage for inbuilt fiber parts, it is essential to explore add-ons like zero depreciation and endorsements to ensure comprehensive coverage for your custom fiber parts. However, it's crucial to understand how these modifications impact bike insurance coverage. Before purchasing or renewing your two-wheeler insurance policy, carefully read the terms and conditions and clarify any doubts with kotak general insurance.

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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.