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Navi Zero Depreciation Cover

The procedure of a two-wheeler losing its monetary value over a period of time due to certain factors such as the age of the two-wheeler or wear and tear of the two-wheeler etc is called depreciation. At the time of claim settlement sometimes the insurance company can consider depreciation deductions while calculating the claim amount and in that case, the policyholder may have to pay a large sum from his/her own pocket due to depreciation deductions. The zero depreciation add-on cover can help the policyholder save money under circumstances.

With every passing day, depreciation applies and lessens the market value of every two-wheeler. This reduction in the value of the scooter or bike tends to be taken into consideration by every insurance company during the claim settlement. The insurers deduct the depreciation charges from the claim amount for the two-wheeler at the time of claim settlement. To avoid this reduction, the policyholders can include a Zero Depreciation Cover with their standalone own damage or a comprehensive bike insurance policy. Navi Zero Depreciation add-on precludes the loss of claim amount in lieu of depreciation. Availing Navi Zero Depreciation cover helps you receive the maximum claim amount irrespective of the depreciation factor.

Navi General Insurance offers a Zero Depreciation Cover add-on along with a two-wheeler standalone own-damage or comprehensive insurance policy. A zero depreciation cover helps the policyholder avail complete coverage as this add-on cover lets the policyholder avail the full claim amount without depreciation deductions. It provides the facility of free of cost repair and replacement of the depreciable parts of the insured’s bike.

Benefits of Navi Zero Depreciation Cover

Below mentioned are some benefits of opting for a Zero Depreciation Add-on Cover with your comprehensive/standalone own-damage two-wheeler insurance policy:

  • Helps Save Money: A zero depreciation add-on cover can increase the premium of your two wheeler insurance policy but with a slight increase in premium it is capable of providing extensive coverage. This cover helps the policyholder to save money at the time of filing a claim for the two wheeler insurance policy. This add-on cover eliminates the risk of availing a claim amount with depreciation deductions.
  • Provides More Protection: Opting for a zero depreciation cover will add more protection to the existing two-wheeler insurance policy. This add-on increases the scope of coverage under an existing two-wheeler insurance policy. Zero depreciation cover provides compensation for depreciable parts of the two-wheeler
  • Full Claim Settlement: A two-wheeler insurance policy with zero depreciation add-on cover not only provides extensive coverage but also helps the policyholder to avail a full claim settlement amount. This add-on cover reduces the chances of receiving a claim amount with depreciation as this add-on cover provides compensation for depreciable parts of the vehicle.

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

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 cover

Rate of Depreciation With Zero Depreciation cover

Paint Work/Rubber/ Nylon/ Plastic Parts

50%

0%

Fiberglass parts

30%

0%

Glass parts

Nil

0%

Factors Affecting Navi Zero Depreciation Cover

Navi Zero Depreciation comes with multiple benefits provided that the following conditions are fulfilled:

  • The age of the bike should not exceed 3 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 a total loss, mechanical and electrical breakdown of the insured’s bike.

What is Included under a Navi Two-Wheeler Insurance Policy with Zero Depreciation Cover?

Below mentioned aspects shall be covered under a Navi Two-Wheeler Insurance policy with Zero Depreciation Cover:

  • This add-on cover provides coverage for depreciable parts such as nylon, rubber, fibreglass and plastic parts of the insured two-wheeler.
  • In some situations coverage for partial damages of the battery and tyres under a zero depreciation cover.
  • Compensation for the cost of repairs/replacements bore by the policyholder shall be provided to the policyholder at the time of filing the claim.

What is not Included under a Navi Two-Wheeler Insurance Policy with Zero Depreciation Cover?

Below mentioned are some things that shall not be covered under a Navi Two-Wheeler Insurance policy with Zero Depreciation Cover:

  • Damages to the insured two-wheeler caused due to mechanical failure or fault.
  • Loss/Total damage to the insured two-wheeler is not included under the zero depreciation add-on cover.
  • Wear and tear or routine ageing is not included under a zero depreciation add-on cover.

Must Read Articles before buying Navi Bike Insurance

Navi Bike Insurance User Reviews

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What users are saying
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  • Excellent Services

    I am so thankful to InsuranceDekho for their excellent service in managing the entire process of my insurance claims. My brother also availed of their services and bought Navi Bike Insurance. He is very satisfied with their support. I genuinely recommend InsuranceDekho to everyone!

    S
    By Shalini Bhadana
    On: June 6, 2024
  • It gives me a reminder.

    The procedure of purchasing a plan is so much uncomplicated on the website as it is arranged perfectly. I purchased a NAVI bike insurance policy for my KTM RC 125 from insurancedekho.com, which always reminds me to renew my policy on time.

    S
    By Sanju Mehra
    On: February 10, 2023
  • Insurance within budget

    I wanted to purchase a bike insurance policy that provided me good coverage and fit in my budget, while looking for one I landed on InsuranceDekho’s website. Here I was able to compare several bike insurance policies which were affordable and provided good coverage. I purchased a Navi bike insurance policy for my Suzuki Let’s.

    B
    By Bhupen Anand
    On: February 3, 2023
  • The best coverage offer plans

    Using the InsuranceDekho website, I was able to generate bike insurance quotes by simply entering my KTM Duke bike's registration number. Several bike insurance quotations are shown, which provide good protection for my bike. I compared bike insurance policies and purchased a NAVI bike insurance policy.

    O
    By Ojas Kapoor
    On: January 23, 2023
  • The best coverage offer plans

    Using the InsuranceDekho website, I was able to generate bike insurance quotes by simply entering my KTM Duke bike's registration number. Several bike insurance quotations are shown, which provide good protection for my bike. I compared bike insurance policies and purchased a NAVI bike insurance policy.

    O
    By Ojas Kapoor
    On: January 19, 2023
  • 7 days availability

    I recently bought the Navi bike insurance plan for my Suzuki Gixxer SF 250 from the InsuranceDekho website. They are available on all 7 days of the week. I bought it on a Sunday and I could buy it without any complications and issues although it was a Sunday.

    R
    By Ribhu Shrivastava
    On: July 1, 2022
  • Offers the best coverage

    Using the InsuranceDekho website, I was able to generate bike insurance quotes by simply entering my KTM Duke bike's registration number. Several bike insurance quotations are shown, which provide good protection for my bike. I compared bike insurance policies and purchased a NAVI bike insurance policy.

    O
    By Ojas Sharma
    On: June 27, 2022
  • Timely reminders

    The procedure of purchasing a plan is so uncomplicated on the website as it is arranged perfectly. I purchased a NAVI bike insurance policy for my KTM RC 125 from insurancedekho.com, which always reminds me to renew my policy on time.

    K
    By Karan Mehra
    On: June 27, 2022
  • Pocket-friendly plans

    The InsuranceDekho website has a variety of plans with affordable prices. I recently bought the Navi bike insurance plan for my Yamaha FZ X. The plan is good enough and fits my budget easily. I am happy with my purchase and would recommend this to all those looking for a good bike insurance plan.

    A
    By Aman Marwah
    On: May 6, 2022
  • The website has a very helpful...

    The procedure of purchasing a plan is so much uncomplicated on the website as it is arranged perfectly. I purchased a NAVI bike insurance policy for my KTM RC 125 from insurancedekho.com, which always reminds me to renew my policy on time.

    S
    By Sanju Mehra
    On: March 21, 2022

Navi Zero Depreciation Add-On Cover FAQs

  • What are the depreciable parts which are covered under Navi Zero Depreciation Cover?

    Navi Zero Depreciation cover offers you coverage for the repair and replacement of the bike parts, which are Rubber, Nylon, Plastic, Fiberglass and Glass Parts.

  • Will I get a complete claim amount with the inclusion of Navi Zero Depreciation Cover?

    No, opting for a Navi 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.

  • Can I opt for a Navi Zero Depreciation add-on cover for my second hand bike?

    Yes, you can choose and use the Navi Zero Depreciation cover for your second hand bike as well provided the age of your bike is not more than 5 years. However, an inspection could be conducted by the insurance company before the inclusion of this add-on cover to your bike insurance policy.

  • Can I avail the Navi Zero Depreciation Cover anywhere in the country?

    The Navi Zero Depreciation cover will only offer policy coverage within the predetermined geographical location. The insurance company will not bear the expense of any damage incurred by the bike of the insured person outside the geographical zone.

  • Will I have to pay an additional premium to avail Navi Zero Depreciation Cover?

    Yes, the premium amount will increase by opting Navi Zero Depreciation cover along with the standalone bike insurance policy or comprehensive bike insurance policy.

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