100% payment on the depreciated parts
Covers fiber glass, rubber, plastic parts & other depreciating parts
Two-Wheeler Insurance, while being mandatory by law is also something that will give you peace of mind with respect to your vehicle. It will take care of the unforeseen expenses associated with an accident, a natural disaster or a man-made calamity which may have damaged your vehicle. While a basic Comprehensive Bike Insurance Policy will cover most of the expenses, there are certain parts that are not covered by the policy. For that, you need a Zero-Depreciation Cover.
What is a Zero Depreciation Cover?
A Typical Two-Wheeler Insurance Policy
will not bear the depreciation component of costs. This is mainly for spares made of plastic, glass, rubber and fiber. These costs must be borne by you. However, if you have purchased a Zero-Depreciation Cover along with your Insurance Plan, the costs will be borne by the insurer.
How is Zero-Depreciation Cover Beneficial?
At the time of your claim, if you are not covered by Zero Depreciation Two-Wheeler Insurance Cover, you will only get compensated basis the depreciated value of the bike. This results in a significant reduction in the claim and the depreciation value must be paid from your pocket even when you have Insurance for your vehicle. Zero Depreciation Add-On Cover helps avoid this unwanted expense. This Two-wheeler Insurance Add-On helps you claim the full amount for your vehicle without factoring the depreciation percentage.
Key Features of a Zero Depreciation Cover:
- Depreciation Cover is not available for a vehicle more than 5-year-old. If your vehicle is less than the mentioned age, Zero Depreciation Cover will provide you the benefit listed above.
- 100% repayment on depreciated parts with a Zero Depreciation Cover
- Smallest of repair costs for durables like tyres, batteries, glass, which attract depreciation are covered with the Zero Depreciation Two-Wheeler Insurance Cover.
- Number of such claims you can make is limited during the term of the policy. Typically, a maximum of two claims are admissible during the policy period.
Exclusions of a Zero-Depreciation Cover:
- If any part of your vehicle is not insured by the company and faces damage, the repair amount is to be paid from your pocket and shall not be covered under Zero Depreciation Add-On cover.
- Items not covered are gas kits, bi-fuel kit, and gas kits
- Mechanical fault-related damage
One can avail zero Depreciation Cover at the time of purchase of the policy or at time of renewal.
Benefits of Zero-Depreciation Cover from Bharti AXA:
With more than 3.5 million policies sold and multiple awards in recognition of excellent performance, Bharti AXA has a proven track record in the Indian Insurance market. The company offers several flexible and customizable Car and Bike Insurance Plans for its consumers. Moreover, the Add-On Covers offered by Bharti AXA
provide an enhanced protection. The company also has a dedicated Customer Service Centre which is operational 24X7 and is partnered with more than 2500 garages across the country for cashless claim settlement.