Oriental Zero Depreciation Add-on

The loss of value of a bike over time is inevitable. The insurance companies consider this depreciation and deduct a depreciation charge from the claim amount at the time of claim settlement. However, this deduction can be eliminated by opting for Zero Depreciation covers along with the comprehensive bike insurance policy. Oriental General Insurance offers Zero Depreciation cover to stretch the coverage of the comprehensive bike insurance and standalone own damage bike insurance plans at an affordable rate.

Availing the Zero Depreciation cover along with Oriental bike insurance policy ensures that you do not lose claim amount in lieu of depreciation expense. The claim amount is calculated without factorizing the depreciation amount in the presence of a Zero Depreciation cover.

Benefits of Oriental Zero Depreciation Cover

• Higher claim: Zero Depreciation cover ensures a higher claim amount as the insurer does not deduct any depreciation value. The policyholders can avail the maximum claim amount with Zero depreciation cover with a slight increase in the premium.

• Saves money: Oriental Zero Depreciation add-on cover bears the expense of repair and replacement of the parts of the insured’s bike irrespective of the depreciation factor. Thus, the policyholder can save money to be spent on the damaged or depreciated parts of the insured’s bike.

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

Oriental Zero Depreciation cover provides multiple benefits provided that the following conditions are fulfilled:

• The age of the bike should not exceed 2 years.
• Policyholders can claim this cover twice in the entire policy tenure.
• It does not cover the repair and replacement due to common wear and tear.
• In cases of the total loss, mechanical and electrical breakdown of the bike, coverage is not provided.