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Magma HDI Zero Depreciation Add-on

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    Network Garages4,000+
    Claim Settlement Ratio79.60% in FY20
    Policies Issued (FY-19)16 Lakh+
    Zero DepreciationAvailable
    AccreditationCRISIL A1+ Rating
    Emergency Assistance24/7
    Third Party CoverAvailable

    Magma HDI Zero Depreciation Cover

    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

    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



    1-2 years



    2-3 years



    3-4 years



    4-5 years



    5-10 years



    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



    Glass parts



    Bike insurance starting from Rs.482/year*
    • Save upto 75%*
      Lowest Bike Premiums
    • 11.5 Lakh+
      Happy Customers
    • Claim Support
      7 days a week

    *TP price for less than 75cc two wheeler. All savings/offers are provided by the Insurers which are subject to modification. Terms and conditions apply

    Factors Affecting Magma HDI Zero Depreciation Cover

    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.

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    Must Read Articles before buying Magma Bike Insurance

    Magma Bike Insurance User Reviews

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    • Good service

      Easy and lot of insurance options to choose as per our requirement Happy and satisfied Good experience and I a...

      Bajaj Avenger 220 Chennai
      On: June 27, 2021
    • Easy insurance solutions

      Overall good experience. The process was easy to fill with no documents and no paper required. Payment gateway...

      BULLET CLASSIC Malkangiri
      On: November 28, 2020
    • Great Service

      Great Service. Thanks to the executive of the InsuranceDekho portal for helping me buy an insurance policy exa...

      Hero Splendor Pro Bhuj (Kachchh)
      On: September 10, 2020
    • Quick settlements of claims

      I purchased a Magma bike insurance plan from InsuranceDekho portal. I made a claim request for my Hero HF Delu...

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      By Aditya Mehta
      On: July 10, 2020
    • Good insurance services

      Magma insurance plan offers protection for my Yamaha Saluto bike through its great and prompt insurance servic...

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      By Amish Gaur
      On: July 9, 2020
    • Top-notch support service

      I have a Magma insurance plan for my Suzuki Gixxer SF 250 bike that I bought from InsuranceDekho platform. The...

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      By Arvind Mehra
      On: July 3, 2020
    • Compare and choose option

      Insurance Dekho is a perfect insurance platform that provided me with various insurance quotes to select my po...

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      By Saumil Sahore
      On: June 26, 2020
    • Splendid insurance services

      The InsuranceDekho platform offered me a variety of insurance services for my Magma insurance. It helped me a ...

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      By Ishaan Malhotra
      On: June 25, 2020
    • Paperless insurance procedures

      I have a comprehensive insurance plan of Magma Insurance Firm that covers my Bajaj Dominar 400. I chose and pu...

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      By Kunal Tyagi
      On: June 4, 2020
    • Quick claim settlements

      Magma Insurance firm quickly settled my claim request for TVS Jupiter scooty. I have bought this great plan fr...

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      By Komal Asthana
      On: May 29, 2020

    Insurance Products by Magma General Insurance

    Magma HDI Zero Depreciation Add-on Cover FAQs

    • Which depreciable bike parts are covered under Magma Zero Depreciation cover?

      Magma HDI Zero Depreciation add-on provides coverage for the repair of the following bike parts:

      • Rubber
      • Nylon
      • Plastic
      • Fibreglass.
    • Does a Zero Depreciation cover ensure full claim amount?

      No, Zero Depreciation cover does not ensure full claim amount as deductibles are factorized while calculating the claim amount. Zero Depreciation waivers only the depreciation charges ensuring maximum claim amount.

    • 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.

      An inspection may be conducted by the insurer before adding the Zero Depreciation cover to your bike insurance policy.

    • Is the Zero Depreciation cover available only for new bikes?

      Magma HDI Zero Depreciation cover is available for new as well as old bikes. However, the age of the bike should not exceed 2 years.

    • Does Zero Depreciation provide coverage beyond the city limits?

      The Magma HDI Depreciation 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 area.

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    #Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.