Daily Allowance Cover in Bike Insurance

A bike is more than a mode of transportation; due to the hectic pace at which we live, it is an integral component of modern life. But mishaps and disasters can derail your plans, leaving you high and dry financially. A daily allowance cover in your bike insurance policy can be a lifesaver, helping you manage your transportation expenses while your bike is being repaired.

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Daily Allowance Cover in Bike Insurance

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Daily Cash Allowance Meaning

A daily allowance in bike insurance offers a fixed cash amount to cover alternative transportation expenses when your bike is unavailable due to repairs.

For example, suppose your bike meets with an accident and is in the workshop for five days. If your insurance includes a daily allowance of Rs. 10, you’ll receive Rs. 50 (Rs. 10 x 5 days) to help you cover commuting costs during this period.

Benefits of Adding Daily or Downtime Allowance to Your Two-Wheeler Insurance

Financial Support: It offsets the additional commuting expenses during your bike’s downtime, such as taxi fares or public transport costs.
Convenience: You won’t need to worry about the disruption caused by the unavailability of your bike.
Customisable Coverage: Many insurers, including SBI General Insurance, allow you to tailor your policy with this add-on for enhanced protection.
Affordable Add-on: For a nominal increase in premium, this cover can provide significant financial relief.

What’s Covered Under Daily Conveyance Benefit Add-on?

Alternative Transportation Costs: Expenses incurred for public transport, cabs, or rental vehicles are reimbursed within the daily allowance limit.
Damage from Accidents: The cover applies when your bike is undergoing repairs due to accidental damage covered under the policy.
Specified Downtime Period: The benefit is provided for the number of days specified in your policy, up to maximum daily allowance rates.

What’s Not Covered Under Daily Conveyance Benefit Add-on?

Routine Maintenance: Repairs related to routine servicing or maintenance are not eligible.
Unauthorised Repairs: If you repair your bike at an unauthorised garage, the downtime insurance coverage is not applicable.
Excluded Causes: Damages not covered by your bike insurance policy, such as wear and tear, mechanical breakdown, or intentional harm, are excluded.

How to Claim Bike Insurance for Downtime Protection with SBI General Insurance?

Claiming the daily allowance benefit with SBI General Insurance is a straightforward process.

Report the Claim: Notify SBI General about the accident or damage through their helpline or mobile app.
Submit Required Documents: Provide necessary documents like the claim form, repair invoice, and FIR (if applicable).
Garage Approval: Ensure repairs are carried out at a network garages approved by SBI General Insurance.
Receive Daily Allowance: The daily allowance amount will be disbursed as per the terms of your policy.

How to Buy Bike Insurance Daily/Downtime Allowance Claim Add-on Online

Online Process

Visit the SBI General Insurance website or mobile app.
Use the two-wheeler insurance calculator online to choose a plan.
Add the daily allowance cover to your bike insurance policy online during the purchase.

Offline Process

Visit an SBI General Insurance branch or authorised agent.
Discuss your requirements and add the downtime insurance coverage to your policy.

Things to Keep in Mind While Filing a Claim

Read the Policy Terms: Ensure you understand the eligibility and coverage limits of your policy.
Keep Documents Handy: Maintain all necessary documents, including proof of alternative transport expenses.
Garage Selection: Use an authorised network garage to avoid claim rejection.
Claim Within the Stipulated Time: Submit your claim within the timeframe specified in your policy.

A daily allowance cover is a practical and cost-effective addition to your bike insurance policy. It offers financial relief during unforeseen circumstances, ensuring that you can manage your commute without stress. When considering insurers, SBI General Insurance stands out with its seamless claims process, comprehensive coverage options, and reliable support. So, whether you’re looking for a new policy or an add-on, SBI General Insurance is a trusted partner to safeguard your ride and your peace of mind.

Frequently Asked Questions

Add-ons enhance your bike insurance coverage by offering additional benefits like Downtime Allowance, Daily Conveyance Benefit, and Consumables Cover. These options provide financial relief for specific situations not covered in standard policies.

Essential bike insurance add-ons include Daily Insurance for bikes, Zero Depreciation Cover, and Engine Protection. These provide comprehensive financial protection during accidents, theft, or downtime.

Insurers may reject claims due to late intimation, non-disclosure of facts, policy expiration, or violations like driving under the influence. Ensure accurate details and timely intimation for successful claims.

No, Downtime allowance is available only when the insured bike undergoes repairs after accidental damage. Total loss or irreparable damage is not covered.

Yes, repairs must be done at an insurer-approved network garage to claim benefits under the downtime allowance add-on. This ensures claim validity.

The number of claims allowed varies by insurer. Typically, the benefit is capped at a specific number of claims annually, as stated in the policy terms.

No, the daily conveyance benefit is available only when the insured bike undergoes repairs due to accidental damage, not for theft cases.

To avail of the daily conveyance benefit, the claim must fall under the Own Damage section of your bike insurance policy.

Disclaimer: The above information is indicative in nature, for more details on complete coverage and terms and conditions, please contact our nearest office and also read the policy document and sales brochure carefully before concluding a sale.

SBI General Insurance and SBI are separate legal entities and SBI is working as Corporate Agent of the company for sourcing of insurance products.

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