Magma HDI Zero Depreciation Add-on

Insurance companies deduct a depreciation charge from the claim amount due to the loss in the value of the insured’s bike over time. Zero Depreciation is an add-on cover that can be opted along with standalone own damage or a comprehensive bike insurance policy to prevent the deduction of depreciation charges at the time of claim settlement. Magma HDI Zero Depreciation add-on shields its policyholders from the loss of claim amount in lieu of depreciation charges.

Magma HDI Zero Depreciation cover ensures maximum claim amount to the policyholders. It provides the privilege to repair and replace depreciable parts of the insured’s bike at the cashless garages irrespective of the depreciation in the value.

Benefits of Magma HDI Zero Depreciation Add-on Cover

Magma HDI Zero depreciation add-on cover offers the following benefits to its customers:

• Higher claim: The policyholders opting for the Zero Depreciation enjoy a higher claim on the assured amount as the insurer does not deduct any charges for the depreciation in the value of the insured’s bike. It ensures the policyholders to enjoy the maximum claim amount.

• Saves money: A slight increase in the premium amount due to Zero Depreciation cover helps to save the expenses on the repair and replacement of the depreciable parts of the insured’s bike.

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

To avail the benefits of Magma HDI Zero Depreciation cover, the policyholders need to abide by the conditions mentioned below:

• Any damage due to the normal wear and tear is excluded.
• This cover can be claimed only twice in the entire policy period.
• It can be availed only if the age of the bike does not exceed 2 years.
• The insurer does not cover total loss, mechanical and electrical breakdown of the bike.