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What is Endorsement in Two-Wheeler Insurance?

What is an Endorsement in a Bike Insurance Policy?

Importance of Endorsements in Bike Insurance

Endorsements are essential to bike insurance because they help the policy align with bike owners' needs, which change over time. Here's why it is crucial:

Importance 

Description 



Customisation

An endorsement allows the customisation of insurance policies, such as increasing or decreasing the bike's IDV.


Coverage

If you change your bike, your regular policy might not cover the new item, as it ensures the coverage includes these changes to protect you from losses.


Claim Processing

Endorsement expresses all changes and additions in coverage and avoids confusion during claims processing.


Policy Detail

Endorsements verify that all information about the bike and policyholder is accurate and help in claims and policy renewal.


Flexibility

An endorsement provides flexibility to the policyholder to make changes in the policy as per their changing needs. 



Personalised Assistance


Endorsements provide roadside assistance, emergency coverage, or protection against bike accidents. This adds layers of help to the insurer.

Types of Endorsements in Bike Insurance

List of Accepted Endorsements for Two-wheeler Insurance

Following is the list of frequently approved endorsements for two-wheeler insurance, which enable policyholders to update or extend their policy as per requirements:

Type of Endorsement Description

Change in Policyholder Information
When there is a correction or change in your name, contact number, or address.

Engine Change
When there is a change or correction in the engine, a change in the number, or a correction in the engine's cubic capacity.

Personal Accident (PA)
Inserts or amends coverage to pay out in the event of injury or death to the rider or pillion in the event of an accident.

Loss of Key
It also pays for a lost key or the key lock mechanism of the two-wheeler's insurance.

Accident Damage Cover
It also helps in case of accidental damage, which is generally not included in the policies.

Natural Calamities Cover
It also covers damage caused by natural disasters like floods, earthquakes, or storms.

Roadside Assistance Cover
Helps in emergency services such as towing, flat tire changes, and fuel delivery in case of a breakdown.

Transfer of Ownership or Nominee
It also helps with inclusion/correction/change in nominee details or ownership.

Theft Protection
It also pays to include anti-theft devices, which help track the bike in case of theft.

Add-on in Base Policy
Helps add add-on covers to the base policy and increases the policy's premium amount.

Common Reasons for Endorsements in Bike Insurance

How to Apply for an Endorsement in Bike Insurance?

Documents Required for Endorsement in Two-Wheeler Insurance

You must have certain documents to make changes to get an endorsement on your bike insurance policy. These documents ensure the correct modifications and adjustments to the coverage. The documents include:

Endorsement

Document Required

Add-on Cover

RC copy

Change in add-on cover

RC copy/ Invoice copy of the vehicle

Change in Address

Written consent + Aadhar card/Passport/DL

Change in Insured name + DOB

Copy of RC
+ Previous Year Policy

Change in Email address or Contact no.

Written consent

Change in Nominee Details

Name + DOB + Relation with a written consent

Vehicle Detail Change

Copy of RC

Impact of Endorsements on Bike Insurance Premiums and Coverage

How Frequently Can You Request Endorsement for Two-Wheeler Insurance?

Validity of Two-Wheeler Insurance Endorsement

FAQs about Endorsements in Bike Insurance

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