SBI Zero Depreciation Add-on
- No Inspection Needed
- Immediate Policy Issurance
Calculate Your Bike Insurance Premium Online
Select your Two wheeler brand
Which city is your Two wheeler registered in?
When did you buy your Two wheeler?
SBI Zero Depreciation Cover
The value of a bike decreases with time. This loss of value is considered by the insurance companies at the time of claim settlement and an amount gets deducted as depreciation charge from the claim amount. To prevent this deduction, the policyholders can opt for Zero Depreciation add-on along with the comprehensive and standalone own damage bike insurance policy. The SBI comprehensive bike insurance policy offers Zero Depreciation cover to prevent the charge of any depreciation cost from the claim amount.
A Zero Depreciation Cover can be opted with SBI comprehensive bike insurance policy as well as the SBI standalone own-damage bike insurance policy. This add-on ensures that the depreciation charge of the insured’s bike does not get deducted from the claim amount.
Benefits of SBI Zero Depreciation Add-on Cover
SBI Zero depreciation add-on cover offers the following benefits to its customers:
- Higher claim: With Zero Depreciation add-on added to the comprehensive bike insurance policy, no depreciation charge gets deducted from the claim money. It ensures the policyholders to enjoy the maximum claim amount without any additional expense due to depreciation.
- Helps save money: The policyholder can enjoy extensive coverage with a slight increase in premium by adding Zero Depreciation cover. With this add-on, the insurer bears the expense of repairing and replacing the depreciated parts of the insured’s bike.
Depreciation Rate Applicable on Bike With And Without Zero Depreciation Add-on
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
Factors Affecting SBI Zero Depreciation Cover
To avail the benefits of Zero Depreciation, You need to abide by some of the conditions mentioned below:
- You can claim this cover only twice in the entire policy period.
- The repair and replacement due to common wear and tear are not covered.
- The Zero Depreciation cover can be availed by bikes with a maximum age of 2 years.
- No coverage is provided in cases of a total loss, mechanical and electrical breakdown of the bike.
Must Read Articles before buying Sbi Bike Insurance
SBI Bike Insurance User Reviews
- Zero Depreciation
- Most Helpful
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
- Add On
SBI Zero-Depreciation Add-on Cover FAQs
Who should opt for the Zero Depreciation Cover?
The Zero Depreciation add-on can be opted by any bike owners to avoid the depreciation charge and the expense of repairing or replacing bike parts. However, it is best suited for the following:
- Luxury bike owners
- New or inexperienced drivers.
- For those driving in accident-prone zones.
Does the Zero Depreciation cover provide for fibre glass parts of bikes?
Yes, the Zero Depreciation provides coverage for the fibre glass parts of the insured bike. The rate of depreciation for fibre glass parts without the Zero Depreciation is 30%. But with the Zero Depreciation cover, no depreciation charges are deducted.
Can I add the Zero Depreciation cover during the renewal of my policy?
Yes, you can add the Zero Depreciation cover at the time of renewal along with the comprehensive bike insurance policy.
Do I receive the full claim amount if I opt for Zero Depreciation cover?
Adding Zero Depreciation cover ensures maximum claim by eliminating the depreciation factor. However, you do not receive the full claim amount as the deductibles will be factorized at the time of claim settlement.
How do I calculate the depreciation on my bike?
You can calculate the depreciation charge applicable on your bike with the above-mentioned depreciation charges table. You may also call on the toll-free number of SBI General Insurance (1800-102-1111) or visit the nearest branch to get further assistance.
Why to buy from InsuranceDekho?
- Instant policy# within 5 mins
- More than 50 lakhs happy customers
- Claim Support available all 7 days of the week
Bike Insurance News
Easily check your bike insurance expiration date and status ...28 September 2023
Check out what is slipper clutch? Learn their definition, di...28 September 2023
Discover the differences between Ola S1 vs S1 Pro electric s...28 September 2023
Discover the MCWG Full Form in Driving Licence, eligibility ...28 September 2023
Explore the top-rated motorcycles available in India for 202...26 September 2023