Zero Depreciation Bike Insurance

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What is zero depreciation bike insurance?

Zero depreciation is an add-on that can be opted with a two wheeler insurance policy. This add-on gives full cost of replacing two-wheeler parts without depreciation. Also known as zero depreciation bike insurance, this add-on is available for both bikes and scooters. Usually, insurance companies subtract some money for depreciation when you make a claim. However, with zero depreciation bike insurance you get the full claim amount* for damaged parts. This means you spend less from your pocket when your bike/scooter and its parts get damaged and need replacement.

Benefits of zero depreciation bike insurance

The benefits of zero depreciation add-on are:

Full claim amount

You get the full cost of repairs or replacement parts without any deduction for depreciation. That means less out-of-pocket expenses when you make a claim.

Peace of mind

With zero depreciation bike insurance, you don’t have to worry about how much the insurer will deduct during a claim. You know you’ll get full coverage for your bike’s parts.

Save significantly

If you own an expensive bike, replacing damaged parts can be quite steep. A zero dep insurance for bike can help you save significantly.

What is covered in zero depreciation insurance for bike?

Inclusions
Exclusions

Zero depreciation bike insurance include coverage for parts replaced due to damage to the bike or its accessories caused by fire, explosion, riots, strike, etc. To know the inclusions in detail, go through the policy wordings.

There are certain instances when you will not get the benefits of zero depreciation add-on. These include:

Minor scratches to the vehicle, paint fading, wear and tear arising out of normal use
Events resulting in total loss
Claims made above the capped limit, if opted for, in the policy period

Standard bike insurance vs bike insurance with Zero depreciation add-on

Though a standard bike insurance and bike insurance with zero depreciation add-on may look the same, in reality it’s not. There are considerable differences between them (see table):

Feature	Standard bike insurance	Bike insurance with Zero depreciation add-on
Coverage for depreciation	Deducts depreciation during claim settlement	No depreciation deducted; full cost of parts is covered
Claim amount	Lower due to depreciation cuts	Higher, as full replacement cost is reimbursed
Premium	Premium is on the lower side	You need to pay an additional premium to avail zero depreciation add-on
Available as	Standard bike insurance is a standalone policy	Zero depreciation bike insurance is available as an add-on
Cap on the number of claims allowed	Depends on the policy’s terms and conditions	You can make unlimited number of claims or choose to limit the number of claims

Things to consider before buying a zero depreciation add-on.

Before opting for zero dep add-on, you need to consider certain things. These include:

1

Add-on cost vs benefits

Evaluate the cost of this add-on against the benefits it offers. If your bike has expensive parts, it’s worth having it.

2

Inclusions and exclusions

Read the policy wordings carefully to know the inclusions and exclusions of the zero depreciation add-on. This is essential to avoid disputes.

3

Frequency of claims

Check if you’ve unlimited options to make a claim or have any cap on the number of claims. The greater the flexibility, the better it is.

How to buy zero depreciation add-on cover for your bike?

To buy a zero depreciation add-on cover for your bike:

Visit our website here.
Click on ‘Bike Insurance’ under ‘Motor Insurance’
Enter your bike’s registration number and click on ‘Get Quote’
Follow the instructions appearing on the page, choose your policy, opt for zero depreciation add-on and pay the premium

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Frequently asked questions

Is it good to have zero depreciation bike insurance add-on?

Yes, having a zero depreciation add-on for your two wheeler insurance is highly beneficial, especially if your bike is new and expensive. This add-on ensures that you receive the full claim amount without any deduction for the depreciation of parts like plastic, rubber and fibre components during repairs.

How many times can I claim from zero dep bike insurance add-on?

It depends on the insurer and the policy’s terms and conditions. You can make unlimited claims, or there could be a cap on the number of claims made during the policy period.

Is zero depreciation bike insurance available for older bikes?

Zero depreciation insurance for bike add-on may not be available for older bikes. Check with the insurer if it’s offered or not.

Will zero depreciation bike insurance add-on increase my premium?

Yes, it adds to the base premium of your policy. In other words, you need to pay an extra premium to avail this add-on, which is up and above your base policy.

Does zero dep bike insurance add-on have any exclusions?

Yes, this add-on has certain exclusions. Go through the policy wordings carefully to know the exclusions in detail.

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