National Zero Depreciation Add-on

The loss in value incurred by bikes over time is known as depreciation. Insurers take this depreciation under consideration and deduct a depreciation charge from the claim amount at the time of claim settlement. Policyholders cannot avoid the depreciation charge with a standard comprehensive plan or a standalone own damage plan, but the Zero Depreciation cover helps in getting rid of the depreciation sum.

The National comprehensive bike insurance policy offers an extensive coverage with the Zero Depreciation add-on cover. This cover prevents the insurer from charging any depreciation amount. It provides coverage for repair and replacement as well. Thus, with the Zero Depreciation cover added to the comprehensive bike insurance policy, the policyholders can avail maximum claim and zero additional expense.

Benefits of National Zero Depreciation Add-on Cover

• Higher claim: By paying a little extra premium for the Zero Depreciation cover, the policyholders can enjoy the maximum claim. As no depreciation charge gets deducted with the Zero Depreciation cover, the policyholders can claim the entire sum.

• Helps in saving money: The National Zero Depreciation add-on cover bears the expense of repairing and replacing the parts of the insured’s bike. Thus, the policyholder can save money which is to be spent on repairing and replacing bike parts.

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

The National Zero Depreciation cover provides many benefits to the policyholders, however, certain conditions should be taken under consideration:

• The Zero Depreciation cover can be availed by bikes with the maximum age of 2 years
• Policyholders can claim Zero Depreciation only twice during the policy tenure
• Common wear and tear is not covered under the Zero Depreciation cover
• This cover does not apply in the case of complete damage or loss.