SBI Zero Depreciation Add-on

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

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.