Coverfox.com
  • Insurance
    • Car
      • Car Insurance
      • Companies
      • Third party car insurance
      • Comprehensive car insurance
      • Car insurance calculator
      • New car insurance
      • Zero Dep Car Insurance
      • Buy Car Insurance
      • Compare Car Insurance
      • Car Insurance Articles
      • Cashless Garages
    • Bike
      • Two Wheeler Insurance
      • Two Wheeler Insurance Companies
      • Two Wheeler Insurance Claim
      • Two Wheeler premium Calculator
      • Third party Bike insurance
      • Multiyear Bike Insurance
      • Bike Insurance Articles
    • Health
      • Health Insurance
      • Companies
      • Mediclaim Policy
      • Individual Health Insurance plans
      • Critical illness insurance
      • Senior citizen health insurance
      • Arogya sanjeevani policy
      • Coronavirus Health insurance
      • Health Insurance Articles
      • Network Hospitals
    • Term
      • Term Insurance
      • Companies
      • Life insurance
      • Life Insurance calculator
      • Term Insurance calculator
      • Life Insurance Plans
      • 1 crore term insurance
      • Compare Term Insurance
      • Buy Term Insurance
      • Term Insurance Renewals
      • Term Insurance Articles
      • Life Insurance Articles
    • Investment
      • Investment Plans
      • Companies
      • Buy Investment Plans
      • Child Plans
      • Pension Plans
      • ULIP
      • Endowment Policy
      • Tax saving investment
      • Buy ULIP
      • Best ULIP
  • About Coverfox
    • About us
    • Insurance Blog
  • Claims
  • Contact us
  • Login
Buying bike insurance from Coverfox is simpler
Upto 80% discount. Get policy in 5 minutes.
Already Bought from Coverfox?
Renew here in 2 steps
Cashless Claims Support
Dedicated support team within reach at all times.
3000+ Cashless Garages
Never worry about payments
4.7/5
star star star star half star
4.6/5
star star star star half star
Highest rated insurance website
icon Two Wheeler Insurance icon Add Ons icon Zero Depreciation

英雄联盟软件下载官网

Bike insurance has many important clauses and as a policyholder, you must be aware of these. One of them is the element of depreciation. Depreciation is nothing but a reduction in value that happens over a period of time. With time, the bike and its parts go through natural wear and tear. This causes depreciation. When you make a bike insurance claim, the element of depreciation kicks in and you are given a lower claim amount. This is why you should consider getting a zero depreciation two-wheeler insurance cover. This is an Add-on cover that you can purchase along with the comprehensive bike insurance plan. When you have a zero depreciation cover in place, the insurance provider pays out the entire claim amount, irrespective of the age and depreciated value of the vehicle.

What is Zero Depreciation Bike Insurance?

As soon as the bike leaves the showroom, it starts to depreciate in value. The rate of depreciation consistently rises. The motor insurance companies have a fixed rate for depreciation, and the claim amount is settled on that basis.

If however, you opt for zero depreciation bike insurance, you can get around this issue. The bike’s value will be considered to be that of a brand new bike, even when it is a few months or a few years old.

The add-on cover is available at an added cost, but attaching it to your bike plan proves to be very beneficial and profitable in the long run.

Calculation of Depreciation in Bike Insurance

Now that you have a better idea of what does zero depreciation bike insurance means take a look at the rates at which depreciation is calculated in bike insurance. Also, take a look at the savings you get to make when you have the zero depreciation rider attached to your two-wheeler insurance plan:

Age of the Bike
Without Zero Dep
With Zero Dep
Less than 6 months
Nil
0%
6 months to 1 year
5%
0%
1 to 2 years
10%
0%
2 to 3 years
15%
0%
3 to 4 years
25%
0%
4 to 5 years
35%
0%
5 to 10 years
40%
0%
More than 10 years
50%
0%

You can see the difference between comprehensive and zero depreciation insurance for bikes from the above-mentioned tables and also see how effectively the rider helps.

Components Made of
Without Zero Dep
With Zero Dep
Rubber
50%
0%
Nylon
50%
0%
Plastic
50%
0%
Fiberglass
30%
0%
Glass
Nil
0%

You can see the difference between comprehensive and zero depreciation insurance for bikes from the above-mentioned tables and also see how effectively the rider helps.

Advantages of a Zero Depreciation Two Wheeler Insurance Rider

As you can clearly see from the tables given above, adding a nil depreciation cover to your comprehensive bike insurance plan makes it beneficial. If you still have doubts about it, take a look at the list of advantages and you will be able to know whether or not this rider is ideal for you:

  • Greater Scope of Coverage

    You already know what is zero depreciation bike insurance and how it proves to be handy. The scope of your cover increases as you stand to get the claim amount without any deduction. This makes it financially suitable for you. Also, you get to service all the essential parts of the bike without having to worry about spending money from your own pocket.

  • Higher Claim Amount

    Since the rate of depreciation is not applicable when the claim is calculated, you stand to get a much higher amount than the claim settlement value. This helps to keep your savings intact and also to get your bike serviced in a better and more efficient manner.

  • Mental Peace

    Keeping your vehicle safe at all times is a huge priority. Along with that, ensuring you don't spend a lot of money on repairs is essential too. When you have a zero depreciation rider in place, you get a lot of mental peace knowing that you can get your bike properly repaired as and when needed without spending a lot of your own money. This is a huge benefit and a reason why you should opt for the nil depreciation add-on bike insurance cover.

Keeping these points in mind, you can see just how beneficial a rider of zero depreciation insurance for the bike is.

Do You Need a Zero Depreciation Add-on Cover?

If you have recently started riding
New riders make more mistakes (leading to frequent bumps and crashes) as compared to experienced bike riders. So if you are someone who has only recently started riding two-wheelers, a zero depreciation cover would be of great use to you.

If you bought a new bike
New bikes are very valuable and so you need to cover your new bike with the greatest amount of protection. Getting a good zero depreciation cover helps you out at such a time and you are able to keep your bike in mint condition for a longer time.

If you reside in a risky area
Some residential areas are congested or prone to accidents. If you happen to reside in such a place, getting a zero depreciation cover would surely be of great use to you.

If you own an expensive vehicle
And last but certainly not least, you should most definitely get the zero depreciation rider if you own an expensive bike. Repairing an expensive bike costs a lot of money and you would definitely want to get the entire bill amount as your claim amount each time!

Evaluate the points mentioned above and see whether or not you would benefit from a zero depreciation bike insurance rider and then make the purchase accordingly.

Covers Included in The Zero Depreciation Rider

Full claim on the Fibreglass
Full claim on Nylon
Full claim on Rubber
Full claim on Glass Components
Depreciation-free claim after repair
Applicable depreciation is removed.
View More +

Covers are Excluded in The Zero Depreciation Rider

Damage due to technical snag
Tyres
Gas kits
Upto 2 claims in 1 policy year
View More +

The Process to Buy a Nil Depreciation Rider

  1. Log on to Coverfox.com
  2. Compare and choose the comprehensive bike insurance plan according to your needs
  3. Click on the option to add riders
  4. Choose the zero depreciation rider option
  5. Make the payment
  6. Get the policy issued to your name

As you can see, the process is very simple and you can get the cover in a hassle-free manner.

Cost of a Zero Depreciation Bike Insurance Cover

The zero depreciation cover usually is charged at about 15% of the regular bike insurance premium. This makes it slightly expensive, but the covers you get in return are very wholesome and so you end up making a financial gain in the long run.

Important Points to Remember When Buying a Zero Depreciation Rider

Before you invest insurance a zero depreciation rider along with the comprehensive bile policy, here are some important points for you to understand:

  • The zero depreciation advantage can only be availed if the bike is repaired at a network garage
  • You cannot expect to get the benefit of the bike is stolen or damaged beyond repair
  • A maximum of two claims can be made in a single policy tenure

Evaluate and assess these pointers and then see if the option is feasible for you.

The Final Word

There are many advantages you get when you opt for a zero depreciation bike insurance cover. However, you should also keep the exclusions and conditions in mind when choosing the cover. Consider all the aforementioned factors and then buy the zero depreciation bike insurance rider and keep your bike, as well as your finances, wholesomely protected.

Top Rated Two Wheeler Insurance Companies

HDFC ERGO
HDFC ERGO Bike Insurance
Reliance
Reliance Bike Insurance
Oriental
Oriental Bike Insurance
Bharti AXA
Bharti AXA Bike Insurance
Go Digit
Digit Bike Insurance
Kotak
Kotak Bike Insurance
Royal Sundaram
Royal Sundaram Bike Insurance
National
National Bike Insurance
SBI
SBI Bike Insurance
Liberty General
Liberty General Bike Insurance
Magma HDI
Magma HDI Bike Insurance
Shriram
Shriram Bike Insurance
Universal Sompo
Universal Sompo Bike Insurance
ICICI Lombard
ICICI Lombard Bike Insurance
Edelweiss
Edelweiss Bike Insurance
United India
United India Bike Insurance
Bajaj Allianz
Bajaj Allianz Bike Insurance
IFFCO TOKIO
IFFCO TOKIO Bike Insurance

Frequently Asked Questions

  • Q. Is the zero depreciation cover a compulsory cover?
    • No, the zero depreciation rider is an add-on bike insurance cover and it is optional. You can either get it or leave it out, as per your requirements.

  • Q. Can I buy the rider when renewing my bike insurance plan?
    • If you did not add the rider when you originally got your bike insurance plan, you can still attach it later, namely when you are renewing the coverage.

  • Q. Can I get the zero depreciation rider if my bike is very old?
    • Most insurance providers do not offer zero depreciation cover if your bike is over five years old. Some insurers limit it to three years. Read the terms and conditions carefully to know the exact clauses and eligibility.

  • Q. Will the zero depreciation cover apply if my bike is stolen?
    • No, the cover won't be applicable if the bike is stolen. Then, the claim you get will be calculated after deducting the depreciation amount.

  • Q. Can I get the zero depreciation cover online?
    • Yes, you can easily attach the rider online when you buy or renew the bike insurance plan. Alternatively, you can also speak to your insurance agent and get the rider offline.

Show more
Close
×

Get Lowest Rates for bike Insurance

With Upto 80% Discount

  • Secure
  • Licensed By
  • Payment Options
  • Car Insurance
  • Bike Insurance
  • Motor Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Car Insurance Premium Calculator
  • Family Health Insurance
  • Senior Citizens Insurance
  • Group Insurance
  • Corona Rakshak Policy
  • Corona Kavach Policy
  • Super Topup Plan
  • Term Insurance
  • ULIP
  • e-Term Plan
  • 1 Cr Term Insurance
  • कार इन्शुरन्स
  • टू व्हीलर इंश्योरेंस
  • टर्म इंश्योरेंस
  • हेल्थ इंश्योरेंस
  • मेडिक्लेम पॉलिसी
  • Learn About Insurance
  • Network Hospitals
  • Cashless Garages
  • Get Android App
  • Get iOS App
  • Learn
  • About Us
  • Contact Us
  • Careers
  • Sitemap
  • FAQs
Connect with us
Become a Partner
Become a Coverdrive POS Agent

Coverfox Insurance Broking Pvt. Ltd. : C Wing, 6111-6118, 6th Floor, Oberoi Garden Estate, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072

Licence No. 478 , IRDA Direct Broker Code: IRDA/ DB 556/ 13 , Valid till: 26/12/2022 , CIN: U66000MH2013PTC243810

  • Shipping & Delivery Policy
  • Privacy Policy
  • Cancellation & Refund
  • Terms & Conditions
Copyright © 2022 Coverfox.com. All Rights Reserved
亿电竞(西安)比分新版v9.9 JJB电竞外围 电竞竞猜直播新版 dota2 28加拿大位置走势APP查询网 大神电竞手机版网站