Cholamandalam Zero Depreciation Add-on

The loss of value of a bike due to passage of time is considered as a depreciation factor by the insurance company. The insurer deducts a depreciation charge from the claim amount at the time of claim settlement. One can opt for Zero Depreciation add-on to avoid this deduction. Cholamandalam Zero Depreciation cover opted along with a comprehensive or a standalone own damage shields its policyholders from any deduction due to depreciation from the claim amount.

Cholamandalam Zero Depreciation ensures the maximum claim amount without factoring any depreciation charges. The policyholder can avail free of cost repair and replacement of the depreciable bike parts at the network garages.

Benefits of Cholamandalam Zero Depreciation Add-on Cover

• Higher claim: Availing the Zero Depreciation add-on prevents the deduction of any depreciation charges from the claim money. It ensures that the policyholders can enjoy the maximum claim amount.

• Helps saves money: Under the Cholamandalam Zero Depreciation cover, the free repair and replacement of the depreciated bike parts can be availed. Therefore, the policyholders can save the money needed for the repair and replacement of the depreciable bike parts.

Depreciation Rate Applicable on Bike With And Without Zero Depreciation Add-on

Policyholders enjoy multiple benefits with the Cholamandalam Zero Depreciation cover; however, the following conditions should be kept in mind:

• It is available for bikes with a maximum age of 5 years
• Policyholders can register only two claims in the entire policy tenure
• Repair and replacement due to common wear and tear are exclusion
• No coverage is provided in cases of complete damage, mechanical and electrical breakdown.