Bike Insurance in Barakhamba Road

There are multiple add on available in the bike insurance

Yes, there are multiple add-ons available in bike insurance. Some of the common add-ons include:

1. Zero Depreciation Cover: This add-on ensures that you receive the full claim amount without considering the depreciation of the bike parts.

2. NCB Protection: No Claim Bonus (NCB) is a discount rewarded for every claim-free year. This add-on protects your NCB even if you make a claim.

3. Personal Accident Cover for Passengers: This add-on provides coverage for the passengers in case of accidental injuries or death.

4. Roadside Assistance: This add-on offers assistance in case of breakdowns, flat tires, battery issues, and emergency fuel delivery, among others.

5. Engine Protection Cover: This add-on covers damages to the bike's engine and related parts caused by water ingress, oil leakage, or hydrostatic lock.

6. Consumables Cover: This add-on allows coverage for the cost of consumable items like engine oil, coolant, nuts, bolts, and washers, during a claim.

7. Return to Invoice Cover: This add-on ensures that in case of total loss or theft of your bike, you receive the original invoice value of your bike rather than the depreciated value.

These are just a few examples, and insurance companies may offer different add-ons depending on their policies and terms. It's important to carefully consider the add-ons that suit your requirements and budget before purchasing bike insurance.

What is the role of NCB (No Claim Bonus) in Bike Insurance?

The No Claim Bonus (NCB) is a reward given to policyholders by insurance companies for not making any claims during a policy year. NCB is applicable to bike insurance as well as other types of vehicle insurance. Its primary role is to incentivize and encourage safe driving behavior by providing a financial benefit to those who do not make any claims.

The NCB allows policyholders to accumulate a discount on their premium at the time of policy renewal, ranging from 20% to 50%, depending on the number of consecutive claim-free years. This discount is applicable on the own damage premium of the policy, which covers the insured bike against damage due to accidents, theft, fire, or natural disasters.

The NCB is transferable from one insurance company to another when policyholders switch their bike insurance provider. It can also be transferred when policyholders sell their bike and buy a new one. However, the NCB is typically not transferable between different types of insurance policies (e.g., car and bike insurance policies).

In case a policyholder makes a claim and utilizes the insurance coverage, the NCB gets reduced or becomes void. However, some insurance companies offer NCB protection as an add-on, which allows policyholders to make a certain number of claims without losing their NCB. This add-on can be beneficial for those who want to preserve their NCB in case of minor claims or damages.

Overall, the NCB plays a crucial role in bike insurance by encouraging policyholders to drive safely and avoid making claims, thus promoting responsible behavior on the road.