Digit Zero Depreciation Add-on

Digit Bike Insurance

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Digit Zero Depreciation Cover

The reduction in the value of bike with passing time is taken into consideration as a depreciation factor by every insurance company. There is a deduction of depreciation charges from the claim amount at the time of claim settlement. To prevent this deduction, the policyholders can opt for Zero Depreciation cover along with a standalone own damage or a comprehensive bike insurance policy. Digit Zero Depreciation add-on prevents the loss of claim amount in lieu of depreciation.

Availing Digit Zero Depreciation cover ensures maximum claim amount irrespective of the depreciation factor. It offers free of cost repair and replacement of the depreciable parts of the insured’s bike.

Benefits of Digit Zero Depreciation Cover

  • Higher claim: By opting for Zero Depreciation cover, the policyholders can enjoy maximum claim. As no depreciation charge gets deducted with the Zero Depreciation cover, the policyholders can claim the maximum assured sum from the insurance company.
  • Helps in saving money: The Digit Zero Depreciation add-on cover bears the expense of repairing and replacing of the depreciable parts of the insured’s bike. Thus, the policyholders can save money which is to be spent on repairing and replacing the depreciable bike parts.

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

Nil

0%

6 months to 1 year

5%

0%

1-2 years

10%

0%

2-3 years

15%

0%

3-4 years

25%

0%

4-5 years

35%

0%

5-10 years

40%

0%

Above 10 years

50%

0%

Part of bike

Rate of Depreciation Without Zero Depreciation

Rate of Depreciation With Zero Depreciation

Rubber/nylon/ plastic parts

50%

0%

Fibre glass parts

30%

0%

Glass parts

Nil

0%

Digit Zero Depreciation Cover Conditions

Digit Zero Depreciation comes with multiple benefits provided that the following conditions are fulfilled.

  • The age of the bike should not exceed 5 years.
  • This cover can be claimed only twice in the entire policy tenure.
  • Repair and replacement due to common wear and tear do not get covered.
  • Coverage is not provided in cases of total loss, mechanical and electrical breakdown of the insured’s bike.

Digit Bike Insurance User Reviews

108 reviews Write a Review
  • Speedy claim settlement

    I did not face any sort of problem in getting my claim settled for the Digit bike insurance plan that I bought for my Hero Splendor Plus bike from Ins...

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    H
    Hemant Singh
    On: July 13, 2020 | Views
  • Multiple payment modes

    At InsuranceDekho, I bought and renewed a bike insurance policy of Digit insurance for my Honda CB Unicorn 160 bike with multiple safe and secured pay...

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    V
    Vaibhav Sharma
    On: July 9, 2020 | Views
  • Digitally enabled process

    I have a policy of Digit insurance to secure my Bajaj Dominar 400. I purchased it from InsuranceDekho portal which is totally digital and did not need...

    Read More
    R
    Rishabh Agnihotri
    On: July 8, 2020 | Views
  • Compare and Choose easily

    InsuranceDekho allowed me to compare and choose diverse plans before I selected a Digit insurance policy for my Honda Activa scooty. This was an incre...

    Read More
    M
    Meenakshi Anand
    On: July 8, 2020 | Views
  • Simple to renew a policy

    With Insurance Dekho, I was able to renew my Digit insurance policy for my TVS Star City Plus bike in just 2 steps and a few minutes. This was the bes...

    Read More
    D
    Deepak Chauhan
    On: July 6, 2020 | Views

Digit Zero-Depreciation Add-on Cover FAQs

  • What are the factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover?

    The factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover are as follows:

    • Age of the vehicle.
    • Model or variant of the vehicle.
    • Area of residence.
  • Can I opt for Zero Depreciation add-on for a secondhand bike?

    Yes, you can avail the Zero Depreciation cover for a secondhand bike provided its age does not exceed 5 years. An inspection may be conducted by the company before including this add-on to your policy.

  • Does Zero Depreciation cover provide coverage beyond the geographical zone?

    The Digit Zero Depreciation cover will only provide coverage within the predetermined geographical zone. The insurer will not bear the expense of any damage incurred by the insured’s bike outside the geographical area.

  • Do I need to renew the Zero Depreciation cover every time I renew my Digit comprehensive bike insurance policy?

    Yes, you need to renew the Zero Depreciation cover every time you renew your Digit comprehensive bike insurance policy provided it satisfies the conditions of Zero Depreciation cover at the time of renewal.

  • Does Digit Zero Depreciation cover provide free of cost repair of the rubber bike parts?

    Yes, if you avail the Digit Zero Depreciation cover, then the insurance company provides free of cost repair of the rubber bike parts up to 2 claims in the network garages.

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