Best Add-On Covers Offered By Cholamandalam MS Bike Insurance

Purchasing a bike entails lots of paperwork. This paperwork is essential to be secure in many aspects. One of the most essential documents is a bike insurance policy. According to the Indian Motor Vehicle Act, every Indian bike owner must have his bike insured. However, while purchasing bike insurance, it is important to purchase a policy that offers you the required coverage at an affordable premium. If you have decided to purchase your bike insurance from MS Cholamandalam General Insurance, this article will give you the top 4 add-on covers that you should definitely consider. 

Top 4 Additional Covers From MS Cholamandalam

The main purpose of add-on covers is to provide additional coverage for a slight fee added to the premium.  Improving policy coverage helps to protect your bike without much expenditure in the best way possible. The additional covers can be added according to your budget and requirements to your standard bike insurance policy. Cholamandalam MS General Insurance offers a variety of add-on covers that you can include in your policy during the purchase or renewal process. The following are the top 5 add on covers that you should not neglect while buying bike insurance from MS Cholamandalam General Insurance -

• Full Depreciation Waiver Cover

When you use your bike, depreciation is unavoidable. The auto-parts may suffer wear and tear as you drive them over time, lowering their overall value. Purchasing the zero depreciation cover ensures that the depreciation amount is not taken into account when calculating the claim amount. MS Cholamandalam offers a full depreciation waiver cover for your standard bike insurance policy. In this cover, the auto-parts replacement will be paid in full, with no deduction for depreciation. This cover is usually provisional for those customers whose bike is recently purchased or not older than 3 years.

You may also like to read:- Factors To Consider While Purchasing Bike Insurance Online  

• Return To Invoice Cover

If you purchase this cover, MS Cholamandalam General Insurance will pay you the amount based on the IDV (Insured Declared Value) of the bike if it is stolen, damaged beyond repair, or totalled. When you purchase return to invoice coverage for your bike insurance policy, the IDV of your bike is fixed at the price at which you purchased it. This means that in the event of extensive damage or theft, the insurer will pay you the amount equal to the price at which you purchased the bike. At MS Cholamandalam General Insurance, you can avail of this cover if your bike is younger than 5 years. The add-on offers coverage for the invoice cost of the new bike along with registration charges, and road tax. However, you can claim your insurance under this cover only once in a policy period. 

• Chola Value Added Services

This is nothing but the Roadside Assistance facility for bike insurance. The Chola Value Added Services Cover will provide you with certain services that will assist you in this situation. MS Cholamandalam General Insurance can dispatch immediate professional assistance to your location to assist you in repairing your bike. They can also provide towing services and on-call guidance, among other benefits, to make your journey more convenient and safe under this policy.

• Hydrostatic Lock Cover

It is common to experience engine problems when driving your bike for an extended period of time. This will necessitate you taking it to service, which will be costly. If you want to avoid these costly bills, purchasing an engine protection cover will undoubtedly cover the costs of repairing your bike engine. You can replace your engine, gearbox or differential assembly parts in case of waterlogging. This cover is available for bikes up to 10 years from the date of registration. However, you can claim this policy only once in a policy year.

Also Read:- Benefits of Third-Party Bike Insurance  

Take Away

When you are purchasing bike insurance, it is extremely important to compare insurance plans from different insurance providers. MS Cholamandalam General Insurance is one of the most reputed insurance providers. With over 7100 network garages and a CSR of 85.89% in FY20, it is definitely a great choice for your bike insurance.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.