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What Is Zero Depreciation Bike Insurance Cover?


Written by Udit Varshney

Updated Jul 16, 2021

This article explains a zero depreciation bike insurance cover. It begins with an introduction and meaning of the clause in bike insurance and then explains the benefits that can be availed by anyone including it in their bike insurance policy.

A zero depreciation bike insurance cover refers to the reduction in value of a bike due to wear and tear over a long period of time. As a clause in a bike insurance, the insurance company does not take into cognizance the damage caused to your bike over the years and continues to offer comprehensive coverage without determining its reduction in value. In case your bike is damaged in a road accident, all the losses and damages will be compensated by them. You can avail this service by paying an additional premium for your bike insurance policy. 

In short, a zero depreciation cover ensures a better claim amount for the damages incurred by you and in this article we are going to tell you about the benefits that can be availed under it. 

What Is Zero Depreciation Bike Insurance Cover?

Benefits of A Zero Depreciation Bike Insurance Cover

The following points outline the different benefits that can be availed by anyone buying a zero depreciation bike insurance cover. 

  • No Depreciation Deduction

If you have a zero depreciation bike insurance policy the damage and wear and tear of your bike over the years will not be considered by your insurance company. Devalued machine parts or complete destruction of the same will not affect the amount of money you receive after filing a claim and you will get full compensation for your bike as well as your machine parts. 

  • Repair Coverage

In a comprehensive bike insurance policy, the repair of plastic parts is not paid by the insurance company. But in a zero depreciation bike insurance policy, the cost of replacement and repairs is reduced drastically as the insurance company takes charge of financing these aspects, making the replacement process affordable for you. 

  • Damage Coverage

Generally, the cost of depreciable and damaged parts is not accounted for during a claim settlement process. However, under a zero depreciation cover, an owner is entitled to receiving compensation for these parts as well, irrespective of the amount of damage caused to them. It therefore adds to your savings and gives you maximum compensation for losses incurred. 

  • Flexible Inclusion

You need not worry if you do not have a zero depreciation cover in your regular bike insurance policy. One of the many benefits of having this add on is that it can be added by you any time after the policy has been purchased. You can choose to include in your bike insurance at the time of renewal and thereby protect your bike and yourself with maximum financial coverage and savings for the rest of your policy term.

Also Read:- What Is Zero Depreciation Bike Insurance Cover? 

Take Away

Having a zero depreciation cover along with a standard bike insurance policy is a wise choice. The benefits and inclusions are important for first time riders who are more prone to sustaining damages on their bikes than others. Accidents arrive unannounced and so it is crucial to protect your bike with the help of a bike insurance policy. Whether you choose a zero depreciation cover or not depends upon your financial liabilities, but you must buy an insurance policy for your bike to avail the financial support during emergencies. 

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.


Written by Udit Varshney

Udit has built B2C segments across various industries and has had significant contributions to the insurance sector. Read More

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