India is a country known for family-driven economical bikes. Most of the bikes you will find on road are ones that can be easily afforded and cost less to maintain. However, India has also witnessed a surge in demand for sports bikes. In the year 2021, about 3680 premium bikes were sold, which also includes various sports bike manufacturers. By definition, a sports bike is a bike which has an enhanced speed and acceleration factor.
These bikes are usually used on racing tracks; however, these bikes can be found on Indian roads as well. Given the condition of roads coupled with the heavy traffic, your sports bike could get damaged quite easily and the repairs could cost you a lot. Therefore, it is beneficial to invest in a good two wheeler insurance policy for your sports bike. And, at the same time you should also include the following add-ons for better protection.
No Claim Bonus (NCB) protection cover
When you do not file a claim against your policy during the term year, you are entitled to a concession on the premium payment for the following year. This concession is called No-Claim Bonus. Usually, the NCB is there if no claim is filed. However, once a claim is filed, the NCB is lost. The NCB protection add-on ensures that your bonus remains intact even after you have filed a claim. As a sports bike owner, it would benefit you to get the markdown on your insurance renewal as the premium without NCB would cost you more. Even if you were to file a claim, your NCB would remain protected for a certain period of time.
* You can visit the official website of IRDAI for further details.
Zero-Depreciation cover
The value of the vehicle you own starts to reduce, i.e., depreciate every year. Higher the depreciation value, lower will be the compensation amount you receive when you file a claim. This also applies to the parts of your vehicle. This could be a huge disadvantage, especially considering the price you paid for your sports bike when you purchased it. Getting a lower compensation value means that you would have to shell out the rest of the amount for the repairs of your bike. Having zero-depreciation cover in your policy will ensure that you get the full claim amount without the value of your bike and its parts depreciated.
24X7 Emergency roadside assistance
Imagine riding your sports bike outside the city and all of a sudden, it breaks down. You are now stranded in the middle of nowhere with no immediate help available. In such a situation, having roadside assistance of some kind would be too good to be true. However, with the two-wheeler insurance policy, you can opt for a roadside assistance add-on. With this cover, your insurer provides immediate assistance in the event your sports bike suffers an electrical or mechanical breakdown, runs out of fuel or suffers tire problems.
Engine protection cover
The engine of your sports bike is its crucial part. These engines are usually more than 600CC in capacity, which makes them bulky. The manufacturing cost of these engines is also one of the factors why sports bikes are so expensive. So, you want to protect its engine from damages. The engine protection cover ensures that the engine of your bike is protected from external damages. These damages caused to the gearbox or leakage of engine oil is also covered under this add-on.
If you own a sports bike or plan on buying one, it is better to purchase an insurance cover for the bike. And it would benefit you in the long run to choose the above-mentioned add-ons. The bike insurance price for sports bikes are usually high depending on the type of the bike. You can use the two wheeler insurance premium calculator to get an idea about the price of the insurance for your bike.
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Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.
