Digit Zero Depreciation Bike Insurance

Understanding Depreciation in Two-Wheeler Insurance

Depreciation refers to the decrease in the monetary value of an asset over time, primarily due to age and usage. In a basic bike insurance policy, the claim payout is reduced based on the depreciation rate of the damaged parts. However, with Digit zero dep cover, you can receive a full claim amount, protecting you from the financial impact of depreciation.

Benefits of Digit Zero Depreciation Add-On Cover

Digit Zero depreciation bike insurance offers peace of mind to the vehicle insurer by helping save a lot of money during unfortunate events such as a road accident, natural disasters, etc. Some of the benefits of Digit Bike Insurance add-on cover are as follows:

• Maximum Claim Amount: This add-on ensures the total value of bike parts is reimbursed without depreciation deductions, which is particularly helpful for costly repairs or replacements.
• Comprehensive Coverage: It covers bike parts and accessories such as bumpers, headlights, and other components not typically covered under standard policies.
• Reduced Out-of-Pocket Expenses: It eliminates the burden of paying for depreciation, saving you money during claim settlement.
• No Age Restrictions for Parts: Coverage is extended irrespective of the age of bike components, ensuring maximum protection.
• Affordable Protection: It offers cost-effective premiums, making it a wise financial decision for bike owners.

Depreciation Rates Applied Based on the Age of the Bike

One can understand and compare the changes in depreciation rate by the values below:

Depreciation Rates Applied on the Different Parts of the Bike

Similarly, the depreciation rate applicable to different bike parts is tabulated below:

*Disclaimer: The above-mentioned inclusions and exclusions are for informative purposes only. Please check the policy document for exact coverage.

Factors Affecting Digit Zero Depreciation Cover

The zero depreciation cover for bikes offered by Digit insurance has certain factors that affect the chosen policy. Some of the conditions affecting Digit Zero Depreciation cover are as follows:

• The bike owner can avail the add-on cover only if the bike is less than five years of age.
• The policyholder must also know that the claim can be made only twice in the entire policy tenure offered under the cover.
• The add-on policy covers only repairs and replacements made due to road accidents; the policy does not cover expenses incurred due to wear and tear.
• In cases involving a complete breakdown due to mechanical and electrical faults or in case of total damage to the vehicle, the insured does not get his claim.