HDFC ERGO Two-Wheeler Add-Ons

Bike insurance add-on covers are additional benefits that you can plug into your bike insurance policy to avail extra coverage. You can purchase add-on benefits of your choice by paying an extra insurance premium. HDFC ERGO General Insurance offers a number of add-on covers. But to avail an add-on, you must essentially have a standalone own-damage bike insurance policy or a comprehensive bike insurance policy.

Add-on benefits can be availed along with standalone own-damage bike insurance policies and comprehensive bike insurance policies offered by HDFC ERGO General Insurance. Here are some add-on covers offered by the insurer that add value to your bike insurance policy:

1. Zero Depreciation Cover: Bike insurance policies usually settle claims after deducting the depreciation of bikes. But if you purchase a zero depreciation add-on cover by paying an extra premium, then you can avail complete coverage for your bike without factoring any depreciation. For example, if your bike is badly damaged due to a mishap, and you make a claim, then you will not be required to pay for its depreciation which you would have to otherwise. With a zero depreciation add-on cover, you will be eligible for the entire claim amount as per the terms and conditions of your insurance policy. Note that this add-on cover can be purchased for a 1 year bike insurance policy.
2. No Claim Bonus Protection: If your bike meets an accident, then you are usually at risk of losing your No Claim Bonus by filing a claim. But this is not the case when you own a No Claim Bonus protection add-on cover offered by HDFC ERGO General Insurance. With this add-on cover, you can reserve a specific amount to cover expenses related to an accident without affecting the bonus. Note that this benefit is applicable only to partial losses and is further subject to a maximum of 3 incidents during the policy period.
3. Emergency Assistance Cover: There are multiple benefits of emergency assistance add-on cover. It offers round the clock assistance for emergency breakdown issues such as duplicate key issue, lost key assistance, minor repairs on site, towing charges, fuel tank emptying, battery jump starts, and tyre changes. All you need to do is call on the customer care number given on the policy and rest assured you will receive timely assistance. For instance, if you are riding a bike and due to a damage, it needs to be owed to the garage, then you can inform your insurer about the situation and they will help you get your bike towed to the nearest garage within 100 km radius of your declared registered address. Note that the benefit is applicable for 1 year policy.
4. Return to Invoice: Return to invoice add-on benefit allows you to get the full invoice price of your bike if it suffers from total loss, constructive total loss following an accident. It also covers you in case the bike gets stolen during the policy term and is not recovered, leading to an admissible claim.
5. Cash Allowance: With daily cash allowance add-on cover, you can avail daily allowance from the insurance company in case your bike is lost, stolen, or is out for repairs. Note that the cash allowance will be paid for a maximum of 10 days in case of partial loss only. And it will not be available for more than one claim paid or pending during a policy year.
6. Accessories Cover: As the name suggests, this add-on cover helps you enhance either the look or performance of your bike. This is a useful add-on cover for those who do not want to spend much on expensive accessories in case of damage. You can purchase this add-on benefit either for electrical or non-electrical accessories. For instance, with this cover, you can purchase electrical accessories of Rs. 5,000 for around Rs. 1,000 and non-electrical accessories of the same amount for Rs. 250-300 approximately.
7. Voluntary Deductible: Voluntary deductible is the amount that you choose to pay from the claim amount. It is applicable over and above the compulsory deductible according to the standard motor insurance policy. Buying this add-on benefit can be useful as it reduces your bike insurance premium. For instance, you will receive a discount of 5% on the OD premium of a bike on buying this cover for Rs. 500; of 10% on buying it for Rs. 750; of 15% on buying it for Rs. 1,000; of 20% on buying it for Rs. 1,500; of 25% on buying it for Rs. 3,000; and of 40% on buying it for Rs. 5,000.

It is not compulsory to buy add-on covers with your bike insurance policy. But having them ensures wide coverage thereby offering you a stress-free riding experience. This way, you can be secured in most situations.