Add on Covers
Check what additional features LGIC
provides to make your policies better.
What factors decide the premium of the vehicle?
Zero- Depreciation Cover: This add-on provides protection as a whole, and does not consider the depreciation level of the bike. During any unfortunate incident, the insurer will protect your vehicle without considering the wear and tear factors, and undoubtedly it is a money-saving cover that gives a better claim price for the damage caused.
- The ZDP covers Fiber, rubber, and metal parts and some exemptions depend from one insurer to the other. Such as Underrated working of the engine, mechanical breakdown (tyres & tubes), consumables, Vehicles with maximum age will not be taken into consideration.
No-claim bonus: Mishaps are uncertain yet some of the good years where any damage was not caused for the vehicle will also be considered by the insurer and a no-claim bonus will be given for not claiming the insurance during that particular insurance tenure. It will be rewarded during the policy renewal time.
Daily allowance benefit: This provides the allowance to the policyholder to commute, when the vehicle is inaccessible during the repair timings, ensuring the vehicle must be in one of the insurer’s network garage, with 3 minimum days.
Return to Invoice: Provides the invoice amount in-case of the vehicle being theft or undergoes the Constructive Total Loss. The cover assures the payment for IDV
-
(Insured Declared Value) making it compatible with the on-road price of your bike including all the formal registration taxes.
Engine protection cover: The engine covers 40% of the total cost used for the purchase of the vehicle, so protecting your engine is a good idea, where the insurer will fix the engine problems which are caused due to leakage of oil, water ingression, and physical damage to the gearbox.
EMI Protection: In case of accidents and unfortunate events, if the vehicle requires repair from approved garages for 30+ days, EMI protection cover helps to pay the EMI, and transfers it directly to the banking authority without handing it to the policyholder. The maximum tenure in which the insurer pays EMI is 2 months and can vary from the companies.
Roadside assistance cover: It’s an emergency cover that is a must for any rider, which includes protection when your vehicle is stuck in the middle of roads and unknown highways. This add-on cover during flat tyres, fuel needs, minor repairs, etc.
Pillion-rider cover: Passenger cover or the Pillion Rider cover pays the expenses for the pillion rider’s injuries, permanent disabilities, and death.
Consumables-cover: All consumables, even the minute, together constitute a bike, and this cover helps to protect the consumables like oil & grease, nut and bolt, gas of air conditioner, fuel filters, and miscellaneous.
Medical cover: If you have not invested in health insurance, then buying the Medical Cover is the ideal choice for bikers. This cover pays for all the medical expenses caused by an accident.
