Know how you can customise two wheeler insurance policy


04 Aug 2023

Here�s how you can customize your two wheeler insurance policy with ease. Read more on step-by-step process to avail the best coverage for your bike.

When it comes to customizing a two-wheeler insurance policy, you can do it with the help of riders. Riders are optional but they help to enhance the two-wheeler insurance. And to get an enhanced coverage to require to pay an additional premium if you select a rider over and above base bike insurance plan. Riders are only available when you opt for a comprehensive two-wheeler insurance policy. Once cannot avail them when you own a third-party insurance for bike.

Let’s understand the different types of two-wheeler insurance riders:

• Personal Accident cover for owner- driver

Road accidents are quite common in India due to congested roads. This type of rider pays compensation as per the scale for bodily injury/ death sustained by the owner-driver of the vehicle in direct connection with the vehicle Insured or whilst driving or mounting into/dismounting from the vehicle Insured or whilst traveling in it as a co-driver.

• Zero Depreciation cover

Usually, when you raise a claim, the bike insurance company compensates for the loss after deducting the depreciation value. But if you buy this rider option, the depreciation value is not taken into consideration whether your vehicle is undergoing any repair or replacement. The insurer will pay the full amount to you.

• Engine Protection:

This type of rider protects your bike against water ingress, lubricant leakage, gearbox damage, etc.

• Consumable expenses

Consumables expenses provide cover for refrigerants, coolants, fluids, nuts, washers, clips, bolts, screws, and other similar items for a part of the vehicle.

• Return to invoice:

Return to Invoice offers to compensate for the gap between the Insured Declared Value (IDV) and the invoice generated for repair. This is applicable when there is a total loss of the vehicle. Return to invoice can be claimed when there is a theft of the vehicle, or the damages are beyond repair or replacement.

The above mentioned riders vary from insurer to insurer. You can opt for a rider at the time of bike insurance policy renewal. You can choose one or more depending on your requirements. For instance, if you own a luxury bike, then you can opt for consumables expenses or zero depreciation cover. There are several benefits of adding a rider to a bike insurance policy.

Importance of riders in a two-wheeler insurance policy:

• Add-ons or riders help to customize the policy as per your requirements. Moreover, it covers you against the potential risk that may not be covered in your standard policy.

• You don’t need to search for a new insurance company to purchase a new two-wheeler insurance policy to get cover for a risk. Instead, it is best to choose a specific rider to your base plan to get additional coverage.

The bottom line

Different bike insurance policyholders have different needs. And riders help to increase the scope of coverage at an extra premium. Choosing riders helps to personalize a two-wheeler insurance policy if you have all-around insurance or a standalone own-damage bike insurance plan.

Visit our two-wheeler insurance page and get information about different policies and the riders that we provide.

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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.