Edelweiss Zero Depreciation Bike Insurance Policy

Edelweiss zero depreciation add-on cover permits the policyholder to claim the original value of their bike without any depreciation or deduction. The claim amount is decided as per the bike’s Insured Declared Value (IDV) that is finalized at the time of purchase or renewal.

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Edelweiss Zero Depreciation Policy

Edelweiss Zero Depreciation Bike Insurance Policy offers compensation without applying the depreciation on its parts. Zero depreciation is an add-on cover that can be purchased at a nominal premium above your basic bike insurance plan.

Edelweiss Zero Depreciation Cover Eligibility Criteria

A few conditions that are applicable to this add-on before availing benefits are given in the table below:

Criteria

Specifications

Availability

To bikes less than 7 years old

Claims Covered

First 2 claims during the policy term

If repaired at a non-network garage

10% of the claim amount shall be deducted

Benefits of Edelweiss Zero Depreciation Bike Insurance Policy

The benefits to Edelweiss zero depreciation policy is given below:

  • Full Claim Amount- The claim amount is reimbursed without factoring in the depreciation value of the bike’ parts at the time of claim
  • Save Out-of-the Pocket Expenses- Edelweiss zero depreciation policy saves your out-of-the pocket expenses that would be incurred on repair and replacing the damaged parts

There are plenty more benefits to the policy which a person can learn about from the insurer’s brochure.

Edelweiss Zero Depreciation Bike Insurance vs. Base Bike Insurance

The following table lists the applicable depreciating rate for a base bike insurance policy and Edelweiss zero depreciation bike Insurance: 

Vehicle’s (Bike’s) Age

Base Bike Insurance Cover

Depreciation Value with Zero Depreciation Cover

Below 6 Months

0%

0%

6 Months to 1 Year

5%

0%

1 to 2 Years

10%

0%

2 to 3 Years

15%

0%

3 to 4 Years

25%

0%

4 to 5 Years

35%

0%

5 to 10 Years

40%

0%

More than 10 Years

50%

0%

What is all covered under Edelweiss Zero Depreciation Bike Insurance Policy?

The Edelweiss zero depreciation bike insurance policy is an add-on cover to the base bike insurance policy that also covers the depreciation value of the vehicle’s parts. The base insurance policy will bear the costs and pay out the claim amount in the event of:

  • Lightning or explosion
  • Burglary or theft
  • Riots and Strikes
  • Malicious Acts
  • Accidental External Affairs
  • Landslide/Rockslide
  • Terrorist Activity 

The following table lists the parts that have a depreciating value and the rate of depreciation that is applicable:

Part of the Bike

Depreciation Value without Zero Depreciation Cover

Depreciation Value with Zero Depreciation Cover

Plastic/Nylon/Rubber Parts

50%

0%

Fibre glass

30%

0%

Glass Parts

0%

0%

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Edelweiss Zero Depreciation Bike Insurance Policy Reviews & Ratings

4.8 / 5 (Based on 32 Reviews)
(Showing Newest 10 reviews)
Ram
Thane, October 09, 2021
Add on cover
During the renewal of my edelweiss bike plan, I got a no claim bonus. i got a little discount on the premium rate so I decided to customize my plan. I have added additional features to the existing plan. it has enhanced the coverage and made my plan even more better.
Aman
Indore, October 09, 2021
Good deal
I have got so many benefits in edelweiss Two Wheeler Plan. In case of accidents, I can avail cashless repair services in their network garages. At first I was confused that from where to buy the bike plan, then I got a good deal on the website of Policybazaar.
Manya
Visakhapatnam, August 18, 2021
Services are good
One of my relative suggested me to buy two wheeler plan. recently have bought Edelweiss two wheeler policy from policy bazaar. it is way convenient to buy policy online and i got a great work. i really liked the service provided by the policy bazzar team.
Jaideep
Varanasi, June 04, 2021
Protection coverage
My two wheeler insurance plan has been providing a protection coverage to me and my bike since 2 years. I have a edelweiss two wheeler insurance policy. A best plan to take care of my bike.
Nitin
Amabala, June 04, 2021
Saves my time
Buying two wheeler insurance policy online is easy and also it saves the time. I checked various edelweiss two wheeler insurance plans online and have save the time by buying it online. It is one of the best plan I had.
Ram
Noida, June 04, 2021
Quick and hassle free services
I have recently bought the edelweiss two wheeler insurance policy from the website of the policybazaar. The plan is good and under my budget. Also, the facilities provided by the team is very nice.
Ekta
Dabhoda, July 03, 2020
Great plans
I searched for many plans in the website of policybazaar and all were good. But I found the best one of edelweiss with great benefits and low premium rate.
Samar
S.c. Pur, July 02, 2020
Good coverage
I searched on the website of policybazaar and found this good plan of edelweiss company for my bike insurance. The coverage provided by them is good and I am happy with it.
Amardeep
R.g.pur, July 01, 2020
Insurance for third party
I have taken the policy which is good for third party too. If by chance accident occurred then it will covered me my vehicle as well as the person with whom I have been met with an accident.
Waheeda
G.k. Bhatar, July 01, 2020
Reputation
The reputation of edelweiss company is very good. They provided with the best policy to me regarding the two wheeler policy. Thanks.