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Zero Depreciation Cover for Two Wheeler Insurance


Buying a two wheeler is of high expense. If you are the owner of a bike you might have gone through the stages of tracking your finances while managing your savings to buy a two wheeler. You might already have noted the impact of lifestyle on your vehicle. You can’t prevent your car from regular ageing or any unforeseen damage caused while commuting. These damages or aging of vehicle have a significant amount of impact on your pocket. These situations make an appropriate insurance with higher coverages important for your two-wheeler.

Zero Depreciation - What is it?

Depreciation is reduction of the value on an asset or a possession with its use. Your brand new car values more than your old car. Insurance companies take this aging in to consideration while calculating your claim amount. A standard coverage plan gives you the claim amount while deducting the value of the part considering its age. Zero-Depreciation plan offers full coverage on the part that is to be replaced without any deduction in its market value. It extends the coverages on the type of material like fiber, glass, rubber and plastic. A standard plans’ deduction rate normally ranges between 0 to 40% on the part to be replaced, while in Zero Depreciation plan you can avail full amount on the replaced part without any deduction leading you to utilize an optimum benefit.

With increase in demand on Zero Depreciation plan, many prominent insurers in India offer this plan to their policy holders.

When is it an ideal time to buy a Zero Depreciation plan?

Zero depreciation is given on the vehicles which are new and the plan does not cover the cars which are more than 3 years old. The plan can deliver an optimized benefit if it is taken on any brand new cars. It is advised to choose Zero Depreciation plan while you are buying a new insurance for your vehicle. If you are interested in buying Zero Depreciation plan, you can choose it while renewing your standard policy.

The insurance companies hold a limitation on the number of claims opted during the policy period without depreciation which is generally 2 claims.

Exclusions in Zero Depreciation Plan

Every plan has its coverages and exclusions; zero depreciation plan is no different. Here are some of the exclusions where the plan can't your vehicle.

Do you know the benefits you enjoy with Zero Depreciation Plan?

Zero Depreciation plan comes with many benefits to avail while you are insured with it.

See the conditions upon which Zero Depreciation plan can be availed

Increased coverage means, increased cost likewise, Zero Depreciation cost a bit more than a standard insurance plan, but it is worth investing on this plan to enjoy an extended period of benefits. The plan points out some conditions which you need to notice before claiming.

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