Raheja QBE Zero Depreciation Cover
Every insurance company takes into consideration the depreciation in the value of the bike over time. The depreciation charges are deducted from the claim amount at the time of claim settlement. This deduction can be prevented by availing the Zero Depreciation add-on along with a standalone own damage and a comprehensive bike insurance policy. Raheja QBE Zero Depreciation add-on ensures that the company would provide the assured sum irrespective of the depreciation factor.
Raheja QBE Zero Depreciation cover ensures maximum claim amount to the policyholders. It provides the opportunity to avail free of cost repair and replacement of the depreciable parts of the insured’s bike in the network garages.
Benefits of Raheja QBE Zero Depreciation Cover
- Higher claim: Zero Depreciation cover promises a higher claim amount as the insurer does not deduct any depreciation value. The policyholders can avail the maximum claim amount by opting for Zero depreciation cover with a slight increase in the premium.
- Saves money: Raheja QBE Zero Depreciation add-on cover takes care of the expense of repair and replacement of the depreciable parts of the insured’s bike. Thus, the policyholders can save the money to be spent on the depreciated parts of the insured’s bike.
Zero Depreciation Insurance vs Normal Insurance
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
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
Raheja QBE Zero Depreciation Cover Conditions
Policyholders enjoy multiple benefits with the Raheja QBE Zero Depreciation cover; however, the following conditions should be kept in mind.
- It is available for bikes with a maximum age of 2 years.
- Policyholders can make only two claims in the entire policy tenure.
- Repair and replacement due to common wear and tear are exclusion.
- In cases of complete damage, mechanical and electrical breakdown the insurer does not provide coverage.
Raheja QBE Bike Insurance User Reviews
Raheja QBE Zero-Depreciation Add-on Cover FAQs
Who should opt for the Zero Depreciation cover?
It is always advisable to opt for the Zero Depreciation cover to receive the maximum claim amount. However, it is best suited for the following:
- New bike owners
- Inexperienced bike drivers
- Luxury bike owners
- Owners living in the accident-prone zones.
Do I have to pay extra for adding the Zero Depreciation to my policy?
Yes, opting for Zero Depreciation cover leads to a slight increase in the premium amount. The rate of increase in the premium is based on the model and condition of the bike.
Does Zero Depreciation provide coverage beyond the city limits?
The Raheja QBE Zero Depreciation add-on will provide coverage within the predetermined geographical zone only. The insurer will not bear the expense of any damage incurred by the insured’s bike outside the area.
Do I get free replacement of the metal bike parts under Raheja QBE Zero Depreciation cover?
Yes, you receive free of cost replacement of the depreciated metal bike parts under Raheja QBE Zero Depreciation cover.
Can I avail the Zero Depreciation cover in case of theft of the insured’s bike?
No, you cannot avail the benefits of the Zero Depreciation cover in case of theft of the insured’s bike.