The risk that a superbike or a sport bike is exposed to is definitely higher than a normal bike or scooter. Superbikes or sports bike work on higher quality engineering where you can ride faster yet be in control of your speed. While it is an exhilarating experience, the degree of risk and damages either to the bike or yourself cannot be ignored. For super bikes like, Harley, Ducati, BMW, KTM, etc. A standard normal insurance is never enough and purchasing just a third-party liability cover to save yourself from being fined is definitely a big ‘no’. While a comprehensive policy offers a protection against a number of situations, the length of cover that a super bike requires is just not enough.
Insurance providers nowadays offer bike insurance covers that is customized according to the needs of the customer and the bike. If you own a superbike, then you opt for an insurance provider who offers you the maximum cover for nominal cost. Here in a standard policy, few exclusion is what may cost you huge loss while claiming for an insurance like for example, depreciation. So to enhance your cover and save from those losses or bare any expense personally for an accident, repair, replacement of certain parts, depreciation, etc. you have to opt for the add-on optional covers. All though these optional covers can be availed for extra premium on you basic cover.
Depreciation of any machine is the reality and a truth which you cannot avoid, even it is a superbike that your love dearly. The rate of depreciation is fixed by the IRDAI according to the age of the vehicle.A zero depreciation cover is an add-on optional cover that is offered by every insurance company. Because when you claim a two-wheeler insurance, the depreciation calculation plays a major role in cash reimbursement and this can be totally eliminated by purchasing this cover be it for renewal or for claims. The insurer will completely reimburse the cost of repair if you have paid personally or cover the cost of replacement of parts without deducting depreciation cost which is otherwise deducted in a regular standard cover. This add-on optional cover can be purchased only with comprehensive policy and not on third-party policies.
With the advancement in medical field and technology available to cure for most diseases and physical ailments, the cost of treatment is higher and sometimes expensive for a middle class family. The number of bike accidents that have increased steadily over the past few years have proved that an accident cover especially for two-wheeler owners is a must. Because the numbers are just frightening. The risk involved riding a superbike becomes higher because it is meant to be driven in a certain way and the risk for pillion rider is also high on city roads and highways. That is why insurers provide personal accident cover which will be useful in distress times and you can be free from the medical expense payments.Every super bike owner must opt for this add-on cover, which will save you from paying for all the medical treatment costs personally because the insurance company will take care of the expense incurred in the medicine treatments while you are at hospital and if the insurer allows the after visits to the hospital will also be covered. The minimum amount coverage under this policy is Rs.1 lakh, but the coverage can be extended as per the buyer’s capacity.
Never forget that the name ‘superbike’ means it will never have to be repaired or have a breakdown. It is a machine and it will have breakdowns anywhere, may be in the city or outside or while traveling long distance on a weekend. If you opt for this cover, you can contact the customer care number of the insurance company for 24*7 assistance who will help you as per the requirement and all you have to do is mention your location. The insurer will immediately send help for emergencies like flat tyre, battery issues, empty fuel tank, medical emergencies, etc.
Considering the amount that has cost you to buy a super bike, installation of anti-theft device is non-negotiable. Every two-wheeler regardless of its price, should have an anti-theft device installed in the vehicle which will alarm you in case a theft or robbery has been attempted by mischiefs. There are a number of companies which provide anti-theft device and it is available in variants according to the need of the bike. If you choose to purchase this add-on cover, then please make sure that you have purchased a device that is approved by the Automotive Research Association of India (ARAI), because only than this cover can be purchased. In addition, the insurance company will give you a certain percentage of discount on premium amount.
If you are one of those people who are possessive of the bike and won’t take it out of the garage fearing the damages or scratched that may occur to bike, then you can opt for this cover. If you chose to buy this cover, you can get per day allowance for your daily commute to work if the vehicle stays in the garage for more than 4 days. But if it’s used often, then this cover may not be worthy.
An engine is the heart of any machine. At least half of the bike cost is decided by the cost incurred to design a particular engine. So any sort of damage or even minute error occurred in this part of your bike which is ignored can cost you a bomb to get it repaired. It is not easy to get the genuine parts of the engine unless you take it to the dealer. If the replacement is available, the cost is extremely high to bare it yourself personally. But if you purchase this cover, you can drive with a sense of relief and security as the two-wheeler insurance cover provides complete protection to the engine. It covers, damage to the gearbox, water ingression, hydrostatic lock, engine lubricant oil leakage, etc.
This is an important optional cover which every super bike owner must opt for. As advertised in the name itself, if the policyholder needs any emergency assistance through vehicle service where he/she has been in an accident, they can immediately intimate the insurance company and help will be sent to their location through its network with the hospitals. It is the same procedure if your bike needs a mechanical help. All you have to do is inform the insurer and you can avail help in any of their network of garages where the vehicle will be repaired without you having to spend a penny. All the repairs or medical bills will be processed through cashless claim facility. Every insurance company will have a network of garages and hospitals across the country in various locations, where they can send help to policyholder’s location with minimum amount of time. But to avail this facility, the policyholder must have the details of the policy with him/her all the time.
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