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Tata Aig Zero Depreciation Add-on

TATA AIG Bike Insurance

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    Network Garages5,900+
    Claim Settlement Ratio91.52%
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    TATA AIG Zero Depreciation Cover

    TATA AIG bike insurance offers the Zero Depreciation add-on cover along with the comprehensive and standalone own-damage bike insurance plans to its policyholders for maximum protection. With the Zero Depreciation cover added to the insurance policy, policyholders can avoid the depreciation charge.

    Reduction in the value of any bikes occurs over time. The policyholders are liable for the reduction in value. Therefore, insurers deduct a pre-decided amount from the entire claim sum for the reduction in value. However, the Zero Depreciation cover allows the policyholders to avail the complete coverage without factoring in any depreciation. By opting for the Zero Depreciation cover along with the TATA AIG bike insurance policy, you can get maximum coverage in turn of paying a little extra premium.

    Benefits of TATA AIG Zero Depreciation Cover

    • Higher claim amount: No sum gets deducted as the depreciation charge which allows policyholders avail entire claim amount.
    • Helps Save money: The Zero Depreciation add-on provides protection against depreciation and damages caused to the bikes. By paying a little extra for the premium, the policyholders save money by getting the entire amount of claim and do not have to pay for any damage. Thus, this add-on helps in saving money.

    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

    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%

    TATA AIG Bike Zero Depreciation Cover Conditions

    Despite the various advantages, the TATA AIG bike Zero Depreciation cover comes with a few conditions, which are mentioned below:

    • Insured bikes with the age of maximum 2 years can avail the Zero Depreciation cover.
    • Normal wear and tear, damage due to uninsured peril and mechanical breakdown are excluded from this cover.
    • Zero Depreciation claim can be made only twice during the policy tenure.
    • This add-on is applicable for select makes and models.

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    TATA AIG Bike Zero Depreciation Add-on FAQs

    • Can I get Zero Depreciation along with the third party insurance policy?

      You can avail the Zero Depreciation cover only with the TATA AIG comprehensive and standalone own-damage bike insurance policies. The third party bike insurance policy does not offer Zero Depreciation or any other add-ons.

    • I do not live in an accident-prone area, do I still need to get the Zero Depreciation add-on?

      Not living in the accident-prone zone reduces the chances of getting into accidents, however, it doesn’t get rid of the factor completely. Therefore, Zero Depreciation cover benefits people living in the accident-prone zone as well as people not living in the accident-prone zone.

    • Who should opt for the Zero Depreciation Cover?

      Any bike owner can opt for the Zero Depreciation for availing the maximum coverage. However, this add-on is best suited for

      • New bikes
      • New/inexperienced drivers
      • Owners with luxury bikes
    • Can I add the Zero Depreciation cover to my policy online?

      Yes, you can add the Zero Depreciation cover to your policy online, by visiting the official website of TATA AIG bike insurance. You can add the Zero Depreciation cover to a new policy or to an existing policy. The cover can be added during the renewal as well.

    • Does Zero Depreciation add-on cover replacement of tyres?

      Zero Depreciation add-on does not provide for repairing or replacing tyres. The depreciation charge for tyres with or without Zero Depreciation add on is 50%.

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    TATA AIG Bike Insurance Contact Details

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    #Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.