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Shriram Zero Depreciation Add-on

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  • 78.78% Claim Settlement Ratio In FY18
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  • Claim Settlement Within 7 Working Days

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Shriram Zero Depreciation Cover

The depreciation charges for the reduction in the value of bike with time is deducted from the claim amount. To avoid this deduction, the policyholders can opt for Zero Depreciation add-on cover along with a standalone own damage or a comprehensive policy. Shriram Zero Depreciation cover ensures that depreciation charges are not deducted from the claim amount at the time of claim settlement.

Shriram Zero Depreciation add-on enables the policyholders to receive maximum claim amount. Availing this cover, with a slight increase in premium, assures free of cost repair and replacement of the depreciable part of the insured’s bike.

Benefits of Shriram Zero Depreciation Cover

  • Higher Claim: By opting for Zero Depreciation cover, the policyholders can enjoy maximum claim. As no depreciation charge gets deducted with the Zero Depreciation cover, the policyholders can claim the maximum assured sum from the insurance company.
  • Helps in Saving Money: The Shriram Zero Depreciation add-on cover bears the expense of repairing and replacing of the depreciable parts of the insured’s bike. Thus, the policyholders can save money which is to be spent on repairing and replacing the depreciable bike parts.

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

Nil

0%

6 months to 1 year

5%

0%

1-2 years

10%

0%

2-3 years

15%

0%

3-4 years

25%

0%

4-5 years

35%

0%

5-10 years

40%

0%

Above 10 years

50%

0%

Part of Bike

Rate of Depreciation Without Zero Depreciation

Rate of Depreciation With Zero Depreciation

Rubber/Nylon/Plastic parts

50%

0%

Fibre glass parts

30%

0%

Glass parts

Nil

0%

Factors Affecting Shriram Zero Depreciation Cover

Here are the factors which affect Shriram Zero Depreciation Cover and the add-on can be availed only by abiding the below mentioned conditions:

  • It can be availed by bikes with a maximum age of 5 years.
  • You can claim this cover only twice in the entire policy period.
  • The repair and replacement due to common wear and tear are exclusions under this cover.
  • No coverage is provided in cases of a total loss, mechanical and electrical breakdown of the bike.

Must Read Articles before buying Shriram Bike Insurance

Shriram Bike Insurance User Reviews

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  • Too many plans to choose from

    There are a lot of plans available on the InsuranceDekho website. After viewing all of them, I chose the Shr...

    P
    By Parth Kakkar
    On: March 17, 2023
  • Detailed explanation

    InsuranceDekho provides a detailed explanation about each plan they offer. After going through all the plans w...

    A
    By Abhishek Kumar
    On: March 1, 2023
  • Informative website

    While buying the Shriram bike insurance plan for my Vespa SXL 150, from the InsuranceDekho website I read ab...

    A
    By Arpit Pathak
    On: February 20, 2023
  • Authentic information

    I purchased Shriram bike insurance policy for my TVS Pep Plus from InsuranceDekho. I was able to purchase th...

    A
    By Akash Bajaj
    On: February 9, 2023
  • The reminder feature is amazin...

    The procedure of purchasing a plan is so much uncomplicated on the website as it is arranged perfectly. I pu...

    V
    By Vikas Singh
    On: January 30, 2023
  • The reminder function is amazi...

    The procedure of purchasing a plan is so uncomplicated on the website as it is arranged perfectly. I purchas...

    A
    By Ayan Ajhmed
    On: January 24, 2023
  • Detailed explanation

    InsuranceDekho provides a detailed explanation about each plan they offer. After going through all the plans...

    A
    By Abhishek Kumar
    On: January 11, 2023
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    On: January 3, 2023
  • Informative website

    While buying the Shriram bike insurance plan for my Vespa Elegante 125 from the InsuranceDekho website, I lear...

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Insurance Products by Shriram General Insurance

Shriram Zero-Depreciation Add-on Cover FAQs

Who should opt for the Zero Depreciation cover?

It is always advisable to opt for 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.

Does the Zero Depreciation cover provide coverage for plastic parts of bikes?

Yes, the Zero Depreciation add-on provides coverage for the plastic parts of the insured’s bike. The rate of depreciation for plastic parts without the Zero Depreciation charge is 50%, but in presence of the Zero Depreciation cover, the depreciation charge is not taken into account.

What are the factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover?

The factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover are as follows.

  • Age of the vehicle
  • Model or variant of the vehicle
  • Area of residence.

An inspection may be conducted by the insurance company to check the condition of the insured’s bike before including this add-on to the policy.

Do I need to renew the Zero Depreciation cover every time I renew my Shriram comprehensive bike insurance policy?

Yes, you need to renew the Zero Depreciation cover every time you renew your Shriram comprehensive bike insurance policy provided it satisfies the conditions of Zero Depreciation cover at the time of renewal.

I don’t own a luxury bike, do I still need to add the Zero Depreciation cover to my policy?

You can add the Zero Depreciation cover to your policy even if you don’t own a luxury car for the maximum protection. It will help you to get the depreciable parts of your bike repaired or replaced without costing you any money.

Why to buy from InsuranceDekho?

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Shriram Bike Insurance Contact Details

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Shriram Bike insurance starting from ₹ 714/year*
or
Shriram Bike insurance starting from ₹ 714/year*
or
#Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.