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What are the unique two-wheeler add-on covers offered by Chola MS?

With a Comprehensive insurance policy, your bike is protected to some extent, but is that protection enough? There are usually some expenses that your insurance policy might not cover. Those could potentially cost you a lot of money down the line.

At Chola MS, we offer you additional add-on covers, enhancing the protection offered by your insurance policy. Read on to find out about some of the unique add-ons that we offer to ensure that your bike is protected to the fullest extent.

1.Full Depreciation Waiver Cover

Your two-wheeler undergoes a certain percentage of depreciation, meaning a reduction in the value of the bike, every year due to regular wear and tear. This depreciation is usually taken into account when you claim insurance, where the amount you can claim reduces based on the percentage of depreciation. If you don’t want a reduction with depreciation, you can opt for a Full Depreciation Waiver Cover as an add-on to your Comprehensive two-wheeler insurance. With this particular add-on cover, you can claim the full value of the vehicle insured without factoring in the depreciation.

2.Return to Invoice

Return to Invoice (RTI) is an add-on that covers the total loss incurred. What this means is that, in the case of theft of your bike, or if it is damaged beyond repair, this add-on will cover the total loss incurred or will be incurred by you. This includes the invoice cost of the New Vehicle, Registration charges, Road Tax, and the insurance paid for your existing policy.

3.Monthly Installment Cover

If you purchased your two-wheeler under an EMI scheme, this add-on will cover your Monthly Installment (MI) payment in the case of an accident. In this case, this add-on will cover the insured for non-payment of the regular monthly installments to the financier of the vehicle in the case of a partial or total damage to the bike, or theft.

4.Daily Cash Allowance

Suppose your two-wheeler got into an accident and is now being repaired, and you momentarily don’t have a vehicle to get to work, you can take a Daily Cash Allowance add-on cover on your two-wheeler insurance to cover your commuting cost. This add-on covers a daily cash allowance to the insured for commuting purposes while the vehicle is being repaired.

5.Hydrostatic Lock Cover

The monsoon season, or natural disasters like flooding can severely damage your engine and gearbox by waterlogging it - preventing the engine from starting. If you live in an area that is prone to flooding, it is recommended that you opt for this add-on as hydrostatic locks aren’t covered under your usual insurance policy. The Hydrostatic Lock Cover insures your engine, gear box, and differential assembly parts in the case of water-logging by covering its replacement.

6.Chola Value Added Services

In addition to the above add-ons, we also offer a Value Added Services add-on that covers you in the event of a mechanical breakdown and you’re in need of roadside assistance. With this add-on, you can avail roadside assistance such as flat tyre support, fuel delivery etc, and these services are available 24x7 with an assistance facilitator who will guide you through the process.

At Chola MS, we like to make sure that your two-wheeler is insured to the fullest, and with these add-on covers, that is made possible. For more details on the additional protection you can avail for your two-wheeler, click here.

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