Meaning Of Zero Depreciation in Bike Insurance:

The value of a bike or two-wheeler in terms of money over a period of time is gradually reduced due to factors such as normal wear and tear, age, etc.

This process is basically called depreciation. At the time of the claim, people pay a huge sum of the total out-of-pocket claim due to the depreciation factor.

This is the time when the insured is protected by zero depreciation. Zero depreciation Bike insurance offers full coverage without considering depreciation.

For example, if your bike is involved in an accident and has suffered significant damage as a result of a collision and you have no depreciation costs, the insurer pays the full cost of the damage.

A zero depreciation of the bike insurance is expensive compared to the standard bicycle insurance for additional protection

How does an insured buy zero dep add-on cover benefit?

  • The cost of repair / replacement of depreciable parts will be fully covered. Personal effort is thus reduced to a minimum.
  • Receive full payment of repair costs at the time of claim. Therefore, there is no concern or concern and you enjoy absolute peace of mind.

Main advantages of the zero depreciation cover in bike insurance:

  • The majority of claims settlements do not appear to be significant for clients since they determine deductions from the amount of damage actually discovered. A significant reduction is due to the devaluation of the parts that will be replaced after an accident. By choosing a zero depreciation bike insurance, this irritating effect is avoided. There are several other benefits of using the zero depreciation add-on cover:
  • You benefit from safety and tranquility after opting for bike insurance.
  • There are no worries or concerns about the protection of your vehicle
  • Your expenses are kept to a minimum when you enroll in zero depreciation coverage.
  • The zero depreciation coverage increases the base coverage.
  • Amortization is not taken into account when liquidating insured vehicle parts.
  • After understanding the benefits of zero depreciation coverage, you should also keep in mind that the zero depreciation n is an additional benefit that can be used by paying an additional or higher reward. Prizes are based on the vehicle model, age and the location on which it is based. A zero depreciation hedge is generally not part of the standard two-wheeler insurance.

What is covered in zero depreciation bike insurance?

  • You must buy if you have a new bike and / or it is expensive.
  • You must buy if your bike is not older than 2 years.
  • You must buy if you are in an area prone to accidents.
  • You must purchase if you do not want to pay heavy workshop bills for repairs or replacement of depreciable bicycle parts at the end of the claim.
  • You should buy if you like your bike and want to save money.

Here is a list of some exclusions under the zero depreciation bike insurance:

  • Wear of the depreciated parts of the bicycle due to aging is not covered.
  • Damages due to an uninsured risk.
  • Damage to uninsured items such as double fuel kits, tires and fuel kits.
  • Damage due to mechanical failure.

In addition, zero depreciation is available for bike under 2 years old. And during a period of insurance, a maximum of 2 claims will be accepted.

Article written by
Swapnil R. Chavan (Digital marketing & SEO Executive )


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