Zero Depreciation Bike Insurance

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Zero Depreciation Two-wheeler Insurance

% of Depreciation in Vehicles

Age of Vehicle

% of Depreciation

Not Exceeding 6 months

5%

Exceeding 6 months but not exceeding 1 year

15%

Exceeding 1 year but not exceeding 2 years

20%

Exceeding 2 years but not exceeding 3 years

30%

Exceeding 3 years but not exceeding 4 years

40%

Exceeding 4 years but not exceeding 5 years

50%

Comparison: Bike Insurance with & without Zero Dep Cover

Bike insurance with Zero dep cover

Bike insurance without Zero dep cover

Claim Settlement Amount

This is higher as depreciation is not considered at the time of claim payment

This is lower as the insurer considers depreciation on the parts based on how old the car is

Depreciation on parts

Covered

Not covered

Age of car

With this addon, age of the car doesn’t make an impact as depreciation is not considered

The depreciation rates of the parts are decided on the basis of how old the car is

Applicable Rate of Depreciation On Two-Wheeler Parts

Bike components

Depreciation applicable (in percentage)

Nylon/rubber/tyres and tubes/plastic parts /batteries

50%

Fibre/Glass materials

30%

All other parts made of glass

Nil

Benefits of Zero depreciation Bike Insurance

FAQ's about Zero Depreciation Bike Insurance