Acko Zero Depreciation Cover
The value of bikes reduces over time due to normal wear and tear. Taking the reduction in value into account, the insurer deducts a depreciation charge from the entire claim amount at the time of claim settlement. The Zero Depreciation add-on prevents the insurer from charging any depreciation cost. The Acko comprehensive bike insurance policy offers Zero Depreciation to the policyholders for maximum coverage.
With the Zero Depreciation cover added to the comprehensive bike insurance policy, the policyholders can avoid the depreciation expense. The cover also provides for repairing and replacing the parts of the insured bike.
Benefits of Acko Zero Depreciation Cover
- Higher claim: With the Zero Depreciation add-on included in the comprehensive bike insurance policy, no depreciation charge gets deducted from the claim money. It allows the policyholders to enjoy the maximum claim amount without facing any loss.
- Helps saves money: By paying a little extra premium for the Zero Depreciation add-on, the policyholder can get the maximum overage. With this add-on, the insurer will bear the expense of repairing and replacing the depreciated parts of the insured bike.
Zero Depreciation Insurance vs Normal Insurance
Age of bike
Rate of Depreciation Without Zero Depreciation cover
Rate of Depreciation With Zero Depreciation cover
Under 6 months
6 months to 1 year
Above 10 years
Part of bike
Rate of Depreciation Without Zero Depreciation
Rate of Depreciation With Zero Depreciation
Rubber/nylon/ plastic parts
Fibre glass parts
Acko Zero Depreciation Cover Conditions
Policyholders enjoy multiple benefits with the Acko Zero Depreciation cover; however, the following conditions should be kept in mind.
- It is available for bikes with a maximum age of 2 years
- Policyholders can make only two claims in the entire policy tenure
- Repair and replacement due to common wear and tear does not get covered
- Cases of complete damage, mechanical and electrical breakdown are exclusions
Acko Bike Insurance User Reviews
Acko Zero-Depreciation Add-on Cover FAQs
Who are best suitable for the Zero Depreciation cover?
Anyone can choose the Zero Depreciation cover to avoid the depreciation charge as well as the repair and replacement cost. However, the following are best suited for the Zero Depreciation cover.
- New bike owners
- New or inexperienced drivers
- Luxury bike owners
- Owners/drivers living in the accident-prone zone
How much extra premium will I have to pay for adding the Zero Depreciation to my policy?
The insurer decides the premium of Zero Depreciation based on the model and condition of the bike. The premium varies from one bike to another. Generally, the premium for Acko Zero Depreciation cover is 15-20% higher than the comprehensive insurance policy.
How can I add the Zero Depreciation cover to my insurance policy?
You can add the Zero Depreciation cover to your policy by visiting the official website of Acko bike insurance or you can dial their toll-free number 1800 266 2256. You can also dial 1860 266 2256, which is chargeable. You can add the Zero Depreciation cover to your comprehensive bike insurance policy at the time of purchase, at the time of the renewal or in the middle of the tenure
Does Zero Depreciation provide cover outside the city limit?
The Acko Zero Depreciation will only provide coverage inside the predetermined geographical zone. The insurer will not bear the expense of any damage incurred by the insured bike outside the area.
Will there be any depreciation charge for tyre replacement if I have the Zero Depreciation cover added to my insurance?
Repair or replacement of tyres does not get covered under the Acko Zero Depreciation cover. The depreciation charge for tyres with or without Zero Depreciation is 50%.