Zurich Kotak Zero Depreciation Bike Insurance

Zurich Kotak (formerly known as Kotak) Zero Depreciation Bike Insurance Policy offers the policyholders an opportunity to save themselves from not paying for the depreciation of their bike. Insurance companies charge depreciation costs for a two-wheeler's gradual wearing out. The policyholders are required to pay a higher amount of depreciation charges if the bike ages for a longer time. Therefore, the zero-depreciation add-on helps policyholders reduce the overall cost of maintenance if the bike is prone to accidents. However, the add-on is applicable for the first two claims only during the policy period.

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The policyholders must pay a 15% to 20% extra premium for availing of the depreciation cover add-on. However, the increased cost will compensate for the overall cost of maintenance as the insured will continue using the bike for long-term perspectives.

Benefits of Zurich Kotak (formerly known as Kotak) Zero Depreciation Bike Insurance Policy

Zurich Kotak Zero Depreciation Bike Insurance Policy offers coverage for the following:

  • New or Luxurious Bikes
  • The bike has expensive spare parts
  • The rider lives in an accident-prone area

The Zurich Kotak Zero Depreciation Bike Insurance Policy does not charge any depreciation cost for the bike's metal, fibre and rubber parts. The depreciation is not charged for an oil leak, mechanical breakdown, water ingression, oil change, or others, per Section I of the policy.

Additionally, It also offers the option of voluntary deductibles for certain exceptions. In such cases, if the policyholder opts for voluntary deductions, they will be liable for discounts as applicable. For further clarification, please find the table below:

Voluntary Deductible Discount
INR 1,000 Up to 10% of OD premium subject to a maximum INR 500
INR 2,000 Up to 15% of OD premium is subject to a maximum of INR 750
INR 3,000 Up to 20% of OD premium subject to a maximum of INR 1,000

Depreciation Rate Applicable on Two-Wheeler With and Without Zero Depreciation Add-on

With zero depreciation cover, Zurich Kotak General Insurance Company Ltd. offers higher benefits than the a comprehensive bike insurance policy without zero depreciation cover as below:

Bike’s Age With Zero-Dep Add-on Without Zero-Dep Add-On
Less than 6 months 0% 0%
More than six months but less than one year 0% 5%
More than one year but less than two years 0% 10%
More than two years but less than three years 0% 15%
More than three years but less than four years 0% 25%
More than four years but less than five years 0% 35%
More than five years but less than ten years 0% 40%
More than ten years 0% 50%

Exclusions Under the Zurich Kotak Zero Depreciation Bike Insurance Policy

Zurich Kotak Zero Depreciation Bike Insurance Policy will not provide coverage in the following cases:

  • It will not cover in case of parts, sub-parts, or accessories that are not approved in the company policy documents of the two wheeler insurance.
  • In case of complete loss of insured vehicles
  • In case the loss is covered under the warranty of the manufacturer or any other such packages.
  • If the damage or loss of the vehicle is notified after 30 days of the incidence

Zurich Kotak Zero Depreciation Bike Insurance Policy is effective for bike owners who invest considerable money and effort in maintaining their bikes. The insurance can seem expensive from a short-term perspective; however, it saves a lot of maintenance and repair costs in the long-term. The add-on cover is a benefit offered along with the base policy purchased, or you can also purchase it exclusively.

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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
Average Rating
(Based on 8 Reviews)

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Zurich Kotak Zero Depreciation Bike Insurance Reviews & Ratings

4.5 / 5 (Based on 8 Reviews)
(Showing Newest 8 reviews)
P
Patna, August 18, 2021
great benefits
I was looking for policy for my bike.after seeing many company, i liked the website of policy bazaar.company has given the brief details about their policies on their website. looking at the benefits, i took the Kotak Mahindra two wheeler policy and i bought this policy online without much hassle.
Sanjeev
Ayodhya, June 04, 2021
Good customer expert team
The customer expert team of Policybazaar is best and I had bought a Kotak Mahindra two wheeler insurance policy from them. I am happy that I have got best two wheeler insurance plan.
Prem
Gurgaon, June 04, 2021
Flexibility in buying the plan
It is flexible to know and to buy the kotak Mahindra two wheeler insurance policy from the website of the Policybazaar. I really like it and I can adjust and customize my plan as per my requirement and services. It is easy to do.
Santosh
Ata, June 04, 2021
Bought the additional covers
When I bought the Kotak Mahindra two wheeler insurance policy I had also got the additional covers with the same. Those covers are really nice andup to the mark. It has definitely saved my two wheeler.
Palak
Odagoan, February 10, 2021
Such Quick Comparison
It was so easy to compare two-wheeler quotes on their site. They helped me select add-on covers to enhance my policy and get the best one. I looked for bike insurance comparison and got the policy in just few minutes.
Roma
Laharpur, February 10, 2021
Policy Purchase in Few Steps
Today I bought a TATA AIG two-wheeler insurance plan in 3 simple steps. I paid them the policy premium online and they mailed it to me. TATA AIG car premium is quite affordable and coverage is quite comprehensive. Thank you Policybazaar was solving my problem.
Raju
East Godavari, February 10, 2021
Best two-wheeler plans
Policybazaar is known for easy online comparison of insurance policies. And this is true and I realized it when I bought it online from them recently. I am going to buy all the insurance policies for me any my family from you only.
Deepak
Wadhwan, February 10, 2021
Cashless Health Claims
The insurance company paid my bike repair bills directly as I had comprehensive policy and the repair were done at a network workshop. I am so happy and satisfied customer. Thank You!

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial).The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively.Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in