New India Zero Depreciation Add-on

The depreciation in the value of the bike and its parts are taken into account at the time of claim settlement. The claim amount is determined after deducting the depreciation charge and the deductibles. To prevent the deduction of the depreciation factor, the policyholder may opt for a Zero Depreciation cover. New India Assurance Zero Depreciation cover helps the policyholders to avail the maximum claim amount by preventing the deduction of the depreciation charge.

New India Assurance Zero Depreciation cover along with standalone own damage and comprehensive bike insurance policy assures maximum claim amount without factorizing the depreciation charges. It provides the facility of free of cost repair and replacement of the depreciated parts of the insured’s bike.

Benefits of New India Zero Depreciation Add-On Cover

You can enjoy the following benefits with zero depreciation add-on cover offered by the New India Assurance Company:

• 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 premium amount due to Zero Depreciation cover helps to save the expenses on the repair and replacement of the depreciable bike parts such as rubber, metal, plastic, nylon, fibre etc.

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

To avail the benefits of New India Assurance Zero Depreciation cover, You need to abide by some of the conditions mentioned below:

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