Digit Zero Depreciation Add-on
- No Inspection Needed
- Immediate Policy Issurance
Calculate Your Bike Insurance Premium Online
Select your Two wheeler brand
Which city is your Two wheeler registered in?
When did you buy your Two wheeler?
Digit Zero Depreciation Cover
The reduction in the value of a bike with passing time is taken into consideration as a depreciation factor by every insurance company. Depreciation is the process of losing monetary value of the two-wheeler due to factors such as wear and tear, age of the two-wheeler etc. Process of depreciation takes place over a period of time. Due to depreciation deductions you may have to pay a large amount from your own pocket at the time of filing a claim. A zero depreciation cover in such circumstances can be very useful, this cover can help the policyholder avail a claim settlement amount without considering depreciation deduction.
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
Although you may have to pay an additional premium for the Zero Depreciation add-on cover, this add-on helps in enhancing the existing cover. Below mentioned are some benefits of Digit Zero Depreciation Cover:
1. Adds More Protection: Zero depreciation add-on cover provides more coverage and helps in enhancing the existing cover offered under a two-wheeler insurance policy. This add-on cover provides extensive coverage as this add-cover helps in availing a claim settlement amount without considering the depreciation deductions.
2. Higher Claim: If you choose to opt for Zero depreciation cover with your two-wheeler insurance policy it will expand the coverage. Zero Depreciation add-on cover eliminates the out of pocket expenses that the policyholder may have to bear at the time of filing the claim. Zero depreciation cover reduces the risk of lower claim amount as claim amount for a two-wheeler insurance policy with a zero depreciation cover is calculated without depreciation deductions.
3. Saves Money: When you buy a zero depreciation add-on cover for your two-wheeler insurance policy, the premium of the policy increases slightly but in case an unforeseen event occurs, no depreciation deductions shall be included in the two-wheeler claim amount because the claim amount shall be calculated without considering the depreciation which helps the policyholder to save money.
Depreciation Rate Applicable on Bike With And Without Zero Depreciation Add-on
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
What is Included under a Digit Two-Wheeler Insurance Policy with Zero Depreciation Cover?
Below mentioned aspects shall be covered under a Digit Two-Wheeler Insurance policy with Zero Depreciation Cover:
- Compensation or Coverage for depreciable parts is provided to the policyholder for depreciable parts such as nylon, rubber, fibreglass and plastic parts.
- A two-wheeler policy with a zero depreciation cover may also cover partial damages to the battery and tyres without considering the depreciation.
- Cost of repairs or replacement born by the policyholder at the time of claim settlement shall be provided to the policyholder.
- You add the zero depreciation cover at the time of renewal of the purchase of the policy.
What Is not Included Under a Digit Two-Wheeler Insurance Policy with Zero Depreciation Cover?
Below mentioned are the aspects which shall not be covered under a Digit Two-Wheeler Insurance policy with Zero Depreciation Cover:
- Damage to insured vehicles caused due to mechanical faults/failure
- Loss or total damage to the insured vehicle shall be covered or compensated for.
- Damage to the uninsured items such as tires, gas kits or b-fuel kit of the two-wheeler shall not be covered or compensated for.
- Routine ageing/wear and tear will not be covered under a two-wheeler insurance policy with zero depreciation cover
Factors Affecting Digit Zero Depreciation Cover
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.
Explore Digit Bike Insurance
Must Read Articles before buying Digit Bike Insurance
- Want to check two-wheeler insurance policy status online? Here are the ways you can check your two wheeler insurance policy status quickly. Know more.
- Third party bike insurance policy is the most basic insurance cover for bikes. Let's explore it in detail.
- Read this article to know about benefits of purchasing a long-term digit bike insurance plan.
- Read this article to understand how you can easily renew your Bike insurance with Go Digit General Insurance and claim it online.
- When getting your bike or two wheeler insured, there are many factors to consider that will impact the premium that you would be required to pay.
Digit Bike Insurance User Reviews
- Zero Depreciation
- Most Helpful
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
- Add On
33 Digit Cashless Garages in India
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.
Why to buy from InsuranceDekho?
- Instant policy# within 5 mins
- More than 50 lakhs happy customers
- Claim Support available all 7 days of the week
Bike Insurance News
Check out our list of top models, including prices, features...27 October 2023
Know the key differences between spoke wheels and alloy whee...27 October 2023
Know the RTO rules, guidelines, benefits and highlights for ...27 October 2023
Explore the cheapest and most affordable third-party two-whe...25 October 2023
Looking for the best low maintenance bikes in India in 2023?...25 October 2023