Royal Sundaram Zero Depreciation Add-on

Over time bikes suffer a loss in their value like any other asset. This loss in value is known as depreciation. The insurance providers take this loss into account and deduct the depreciation charge from the claim amount at the time of claim settlement. By default, a standard comprehensive plan or Standalone own-damage plan fails to provide coverage for the depreciation charge but a Zero Depreciation cover helps get rid of this deduction.

The Royal Sundaram Zero Depreciation add-on cover allows the policyholders to get rid of the depreciation charge. Moreover, it bears the expense of repairing and replacing depreciated bike parts. Thus, the policyholders get the chance of availing the entire claim amount without spending losing any amount as depreciation charge.

Benefits of Royal Sundaram Zero Depreciation Add-On Cover

• Higher claim: The insurer does not charge any amount from the claim amount for depreciation with the Zero Depreciation added to the comprehensive policy. Thus, it allows the policyholders to claim the entire amount at the time of claim settlement.
• Helps in saving money: As the replacement of depreciated bike parts is covered under the zero depreciation insurance plan, it helps policyholders to save the money which they could have spent on replacement of bike parts.

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

The Royal Sundaram Zero Depreciation cover is highly beneficial; however, policyholders must keep the following conditions in mind:

• Normal wear and tear is excluded from this cover
• This add-on is not applicable in case of complete loss or damage
• Bikes with the maximum age of 2 years can avail the Zero Depreciation Cover
• Policyholders can claim the Zero Depreciation only twice during the entire tenure.