Royal Sundaram Zero Depreciation Cover
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 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.
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
Royal Sundaram Zero Depreciation Cover Conditions
The Royal Sundaram Zero Depreciation cover is highly beneficial; however, policyholders must keep the following conditions in mind.
- 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
- This add-on is not applicable in case of complete loss or damage
- Normal wear and tear is excluded from this cover
Explore Royal Sundaram Bike Insurance
- Read More
Royal Sundaram Bike Insurance User Reviews
- Most Helpful
Royal Sundaram Zero-Depreciation Add-on Cover FAQs
Does Zero Depreciation provide cover for any damage outside the geographical zone?
Zero Depreciation cover will provide coverage only in the geographical area and not for any incident occurred outside the area. The Royal Sundaram comprehensive bike insurance policy with or without the Zero Depreciation add-on has a pre-decided geographical limitation for each policyholder.
Do I have to renew the Zero Depreciation cover each time I renew my policy?
Yes, you will have to renew the Zero Depreciation cover each time you renew your comprehensive policy. However, you can pay the complete premium of your policy along with the Zero Depreciation at the time of purchase. It will free you from the hassle of renewal.
Who should opt for the Zero Depreciation Cover?
Any bike owner should opt for the Zero Depreciation add-on to avoid the depreciation charge and the expense of repairing or replacing bike parts. However, it is best suited for luxury bike owners and new drivers.
How can I add the Zero Depreciation cover to my policy?
You can add the Zero Depreciation cover to your policy in the following ways
- Visit their official website
- Dial their toll-free number 1860 425 0000
- Visit the nearest branch
You can add this cover to your comprehensive bike insurance policy at the time of purchase, renewal or in the middle of the tenure.
Does the Zero Depreciation cover provide for plastic parts of bikes?
Yes, the Zero Depreciation provides coverage for the plastic parts of the insured bike. The rate of depreciation for plastic parts without the Zero Depreciation charge is 50%. But with the Zero Depreciation cover, the charges become nil.
Why Choose Bike Insurance from InsuranceDekho?
- Instant policy# within 5 mins
- More than 11.5 Lac happy customers
- Claim Support available all 7 days of the week
Latest Bike Insurance News
- Advantage of Add-on Covers in Two-wheeler Insuranc...
Learn advantage of add-on covers in two-wheeler insurance po...21 September 2020
- Insurance For Second Hand Two Wheeler Explained
Why get a second-hand bike insured? What is a Second-hand Bi...18 September 2020
- Benefits of Timely Two Wheeler Insurance Renewal
Learn benefits of timely online two wheeler insurance renewa...17 September 2020
- Two Wheeler Insurance Claim Rejection Reasons
Learn 7 reasons for rejection of two-wheeler insurance claim...15 September 2020
- How to Change Two Wheeler Insurance
If you want to change your insurer in the middle of your pol...14 September 2020
- Everything About Bike Insurance Types, Benefits an...
What are the types of two-wheeler insurance in India? Why is...11 September 2020