Bought bike insurance? Not yet? Then buy now and enjoy all the safety measures. Buying bike insurance is as important as looking for all the key features in a bike.

Whenever you go to buy a new bike, there are several additional fittings that you can add. Be it metal, aluminum, or fiber parts. Usually, the bike insurance plans do not cover such add-ons except for the basic features that are already provided. In a standard comprehensive bike insurance policy, the cost of repairing or complete replacement is not fully covered. However, with the help of a zero depreciation add-on, the cost of the depreciable parts is fully covered, and you don't have to pay for any damages caused. Coverfox helps you ensure that you get the best insurance experience by helping you buy the best bike insurance plans and add-ons for increasing your cover.
We advise you that the best way to cover your bike repair cost and save a good amount of money in case of an unfortunate accident that involves your bike is by going for a comprehensive bike insurance policy along with a zero-depreciation add-on cover. This way, whether the parts are fiber, metal, iron, or aluminum, you won't have to pay for it.
The depreciated cost that a policyholder pays varies according to the material. The table below shows the percentage that a policyholder will pay in case of repair or replacement at the time of filing a claim:
Depreciable bike parts | Depreciated cost (% of total cost) |
---|---|
Rubber, Nylon, Plastic | 50% |
Fiber-glass | 30% |
Tyre(s) and Tube(s) | 50% |
Glass | 0% |
For example,
Suppose that you need to replace your bike's fiber parts after an accident. Then only 30% of the cost will be paid by the insurance company, and the rest of the amount will be paid by the insurance holder. But, if you have a zero-depreciation add-on cover, you will not have to pay a single penny for such depreciable parts.
Difference between a standard comprehensive policy and one with zero depreciation insurance for the bike
Here’s a table that shows clearly the differences between a comprehensive policy with and without a zero-depreciation add-on cover. This will help you get a better understanding. Have a look:
Differentiating Points | Comprehensive Policy with Zero Depreciation Cover | Comprehensive Policy without Zero Depreciation Cover |
---|---|---|
Claim Amount | Full payment of garage bills | Deduction according to the depreciation |
Cost of Depreciable Parts | Full payment | Partially paid as per applicable depreciation factor |
Premiums Cost | Comparatively higher | Comparatively lower than with zero dep add-on cover |
Savings at the time of claims | Saving on all the repair/replacement cost of depreciable parts | Need to pay a depreciable cost depending on the type of depreciable material. |
Claim Amount | Full payment of garage bills | Deduction according to the depreciation |
How does a bike insurance policy with zero depreciation add-on cover benefits the policyholder?
1. The repair/replacement cost of depreciable parts are completely covered. So, the extra pocket expenses come down to a bare minimum.
2. Get full payment of garage repair bills during a claim. So, there is no worry or apprehension, and you experience complete peace of mind.
Some of the things that are excluded under a zero-depreciation bike insurance cover are as follows
1. Any wear and tear of the bike's depreciable parts due to aging is not covered.
2. Damage caused by an uninsured risk.
3. Damage to items that are not insured like tyres, bi-fuel kit, and gas kits.
4. Damage caused by a machine-driven breakdown.
When to buy an add-on zero depreciation cover?
1. You should buy it if you own a new or expensive two-wheeler.
2. You should buy it if your two-wheeler is not older than two years.
3. You should buy it if you live in an accident-prone area.
4. You should buy if you don't want to pay heavy garage bills for the repair or full replacement of depreciable bike parts during a claim.
Note: A zero depreciation cover is available for a bike up to 2 years old. And a maximum of two claims are accepted during the policy period.
It is important you understand that value of a bike in terms of money over a period of time is steadily decreased due to factors like casual wear and tear, age, and several other things. This process is basically known as depreciation. During the time of claim, due to the depreciation factor, the policyholder ends up paying a huge amount of the overall claim from their pocket. This is the time when the zero-depreciation cover comes to your rescue. Zero depreciation bike insurance provides comprehensive and full coverage without factoring in the depreciation.
So, whenever you think about buying an insurance policy, making claims, or going for renewing your insurance policy, Coverfox is always there to help you get full details instantly online. All you need to do is visit www.coverfox.com. Also, buying bike insurance along with applicable add-on covers can be a great option to go for. Not only it benefits your policy, but in the hour of need, it will lower your expenses to a bare minimum or, in some cases, no expense at all. Well, that depends on your insurance policy and add-on cover you attached it with.
Here are a few add-ons covers that you can add to your bike insurance policy:
Zero-depreciation cover
You must know that a comprehensive bike insurance policy, does not settle the full claim amount. All insurers make sure that they deduct the depreciation value and pay the rest of the amount. But with zero depreciation add-on cover, the depreciation factor is eliminated.
Accessories Cover
All bikes come with some additional fittings. Comprehensive Bike insurance policies do not cover those accessories. But with this add-on cover, you will get full coverage for all the two-wheeler accessories. Be it electrical or non-electrical. This rider is supposed to cover the cost to repair or replace the addition.
Engine Cover
If the place where you stay is prone to seasonal flooding and waterlogging, the engine cover will come in huge use. It protects against damages to the engine. Such damage can cost several thousands of rupees. Engine cover provides cover for such big expenses.
Roadside Assistance
Roadside assistance add-on cover offers support in case of a mechanical failure or the sudden breakdown of your bike in the middle of the road. When you buy roadside assistance cover with your bike insurance, you will be provided with facilities like free towing, instant repairs, etc.
Consumables Cover
All the bolts, nuts, engine oil, etc. are generally not covered under regular bike insurance plans. Since depletion of consumables happens frequently, having this add-on cover will ensure your financial protection against the costs mentioned above.
Important note: Two-wheeler add-ons come with an additional premium, which you are supposed to pay for your bike insurance plan.
In short ,
Whether the Fiber parts of a bike are covered under the bike insurance policy or not is conditional depending upon you adding the zero-depreciation cover along with the comprehensive policy. Coverfox will help you with each and every step you take. Just visit the official website, www.coverfox.com, and you will find all the solutions to your insurance-related issues. Hassle-free process, quick access! Check full details now. Cover Karo, Kaam Ayega!
Related Articles
How To Renew Two Wheeler Insurance In Lockdown | Buying Two Wheeler Insurance Policy Online Is Safe
Best Benefits Of Royal Enfield Classic 350 Insurance Policy | All About Theft Cover In Two Wheeler Insurance At Coverfox
Benefits Of Bike Insurance And Personal Accident Cover | Can An Electric Two Wheeler Get Covered Under Two Wheeler Insurance Policy
Dos And Donts Before Buying Two Wheeler Insurance Plans
Guide To Buy Bike Insurance And Insurance For Scooters | Indias Top Selling Two Wheeler Insurance Plans
Is Third Party Bike Insurance Really Effective | Is Two Wheeler Insurance Premium Calculator Showing The Correct Result