Discover Two-Wheeler Insurance Add-Ons

Two-wheeler insurance safeguards against liabilities such as damages or injuries which that occur to a bike/ motorcycle and co-passenger due to an accident, theft or a natural disaster.

But did you know there are add-ons available to this policy too as given below.
#1 Cashless hospitalization saves you from the added of pressure of walking into a hospital with cash. Even if you don’t have the funds on you at the time of emergency you may get admission and start getting treated.

#2. The two wheeler insurance policy covers the expenses incurred due to any kind of medical treatment involved. This is an essential cover as it saves you from unnecessary hassles to avail treatment in case of a road mishap or accident.

#3. Personal accident covers injuries and treatment for full and partial disability to co-passenger on your two-wheeler. It keeps you covered in case your two-wheeler is involved in a serious accident.

Two Wheeler Insurance

#4. Another add-on is for the cost covered of the repair of plastic, rubber and fibre components of the two-wheeler. This provides cover against any harm to any such these embellishments of your vehicle. In many cases the owner of the vehicle has to pay for the depreciation cost of spare parts of your two-wheeler. However, if you purchase a cover with higher premium the policy will take care of it.

Moreover, policy by leading insurance providers offers the Incurred Claims Ratio. It is nothing but the total value of all claims paid by the health insurance company which is divided by the total amount of premium they collect in the same period. Incurred Claims Ratio indicates the company’s ability to pay for the claims. For instance, 70% incurred claims ratio indicates that for every Rs. 1,000 of premium earned in a given accounting period, Rs. 700 is paid back in the form of benefits (claims). Thus, this ratio is actually the claims settled to the premium received.

Read Also: Did You Know About Your Two-Wheeler Insurance Plan’s Add-ons?

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