National Insurance Zero Depreciation Bike Insurance Policy

Depreciation is the gradual decrease in the monetary value of a bike over time. The depreciation cost of a bike has to be borne by its owner. at the time of claim settlement as the insurance company deducts the bike's depreciation costs from the claim amount. However, the policyholder can shift the burden of bearing depreciation cost to the insurance company via a zero depreciation cover.

Read more
Get Two-Wheeler Insurance
Starting @ only ₹538/year#
  • Compare & Save upto 85%*

  • 20+ Insurers

    To Choose From
  • 1.2 Crore+

    Bikes Insured

#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.

Stay home & renew bike insurance in 2 minutes
No Documents Required
Get Bike Insurance starting @ only ₹538/year#
Enter Bike Number
Processing
Other options

National Insurance Zero Depreciation Bike Insurance Add-on Cover

National Zero Depreciation Bike Insurance policy offers comprehensive two-wheeler insurance coverage with zero depreciation add-on cover. It covers the insured bike against third party liabilities and own damages without considering depreciation. The enhanced cover doesn't let the National Insurance Company Limited charge the depreciation amount from the policyholder as it provides coverage for the repair and replacement of the insured bike and its parts.

The National Zero Depreciation Bike Insurance allows the policyholders to claim maximum claim benefits with no deductions. However, the zero depreciation cover needs to be purchased under the bike insurance policy on payment of an additional premium amount.

People who have luxury two-wheelers with expensive parts and who live in accident-prone areas should go for the zero dep add-on cover under their National two wheeler insurance policy. People with new bikes should also opt for this add-on cover.

Benefits of National Zero Depreciation Add-on Cover

 The benefits of getting two-wheelers insured under the National Zero Depreciation Bike Insurance policy are:

1. Higher Claim Value: In the case of a standard National bike insurance policy, the claim value depends on various factors like the depreciation value of the bike parts. Under zero depreciation add-on cover, the policyholder only needs to pay some extra premium to enjoy the maximum claim value of the bike insurancepolicy. There are no deductions due to the depreciation on the two-wheeler’s value with the zero depreciation add-on cover.

2. Lowers Out-of-Pocket Expenses: In a standard two wheeler insurance policy, the policyholderhas to pay more for the repair of the bike or its parts as not the claim amount reduces due to depreciation. But under a zero depreciation bike policy, the National Insurance Company pays for the repair and replacement of the bike, thereby, reducing the out-of-pocket expenses of the policyholder. It is more beneficial for high-end bike owners as the repair of luxury bike parts is expensive.

3. Monetary Benefits: The policyholder saves money on the repair costs of theinsured two-wheeler as the maximum claim amount is higher in the case of a zero depreciation bike insurance policy. 

Depreciation Rates Applicable on Bikes With and Without Zero Depreciation Add-on Cover

Age of the Bike             

Rate of Depreciation without Zero Depreciation Cover

 Rate of Depreciation with Zero Depreciation Cover

Under 6 months

Nil

0%

6 months to 1 year

5%

0%

1-2 years

10%

0%

2-3 years

15%

0%

3-4 years

25%

0%

4-5 years

35%

0%

5-10 years

40%

0%

Above 10 years

50%

0%

Depreciation Rates Applicable on Bike Parts with and without Zero Depreciation Add-on Cover

Part of Bike

Rate of Depreciation without Zero Depreciation Cover

Rate of Depreciation with Zero Depreciation Cover

Rubber/ Plastic/ Nylon parts

50%

0%

Fiberglass parts

30%

0%

Glass parts

Nil

0%

Factors Affecting the Zero Depreciation Cover of National Bike Insurance

Factors that affect the zero depreciation bike insurance policy by the National Insurance Company are: 

1. The zero depreciation can be claimed only twice by the policyholderduring a policy year.

2. The maximum age of the bike to avail of the zero depreciation policy is 2 years.

3. The bike's normal wear and tear do not come under the scope of zero depreciation cover of National Insurance Company L

4. The zero depreciation add-on cover of the National Insurance Company does not cover total loss or damage beyond the repair of the bike.

FAQ's

Two Wheeler insurance articles

Recent Articles
Popular Articles
Is There Any Difference Between Getting Two-wheeler Insurance Online and Through an Agent?

24 Jun 2022

In life, keeping yourself financially secure is important as...
Read more
Do You Need E-bike Insurance for Your E-bike in India?

15 Jun 2022

The pace of electric vehicle adoption in India is growing fast...
Read more
Tips to Choose the Best Motorcycle Gear

09 Jun 2022

A motorcycle protective gear is as important as motorcycle...
Read more
5 Important Factors to Compare Bike Insurance Online

08 Jun 2022

Since there are different types of bike insurance policies...
Read more
Important Bike Riding Tips for Teenagers

06 Jun 2022

As per an NGO report in IndiaTV, nearly 25 teenagers get killed...
Read more
Best Two Wheeler Insurance Plans in India
When it comes to choosing the best two wheeler insurance plans, we’re sure you have heard enough from different...
Read more
Traffic Rules in India That Every Two Wheeler Rider Should Know
A two wheeler is probably the first vehicle that most people learn to ride after a bicycle. Nothing ever compares...
Read more
Renew Your Two-Wheeler Break-in Insurance Policy at PolicyBazaar
Owners of two-wheelers have been getting a good night’s sleep as far as their vehicle’s insurance is...
Read more
Lost Your Two Wheeler Insurance Documents? Here Is What You Need To Do
A bike insurance policy is one of the important documents required for claim settlement. You won’t be able to...
Read more
Zero Depreciation Bike Insurance
Every two-wheeler goes through depreciation. Simply put, depreciation of a vehicle means a reduction in its value...
Read more

National Insurance Zero Depreciation Bike Insurance Policy Reviews & Ratings

4.8 / 5 (Based on 45 Reviews)
(Showing Newest 10 reviews)
Harish
Nashik, October 09, 2021
Add on cover
Customization is the best option on the website of Policybazaar. After comparison I bought national two wheeler insurance and with add ons I added additional features under it. I really liked the coverage that is provided in my plan.
Pradeep
Agra, October 09, 2021
Good features
I have saved my savings from getting wasted in unwanted expenses. I took National Two Wheeler Insurance for my bike and It provided me the facility of cashless repair in case of damage to the insured bike due to an accident.
Rimzhim
Ghaziabad, August 18, 2021
Easy payment mode
I have seen so many deals on the various website then i bought a national insurance plan for my vehicle from policy bazaar. i am so satisfied and happy with the services of policy bazaar.online procedure was smooth and making payment was easy.
Ritish
Ludhiana, August 18, 2021
faster claim settlement
I got low cost plan for my two wheeler from National two wheeler insurance which i took from policy bazaar. they are providing me faster claim settlement under my plan.i do not need to go anywhere to track my status i can do this from home itself.
Sakshi
Agra, August 18, 2021
Best deals
I was not satisfied with my previous policy and I talked to my friend about this and my friend suggested me to switch your plan and buy from policy bazaar, you will like their plans.now i am satisfied with my new plan.
Sohan
Gadag, May 10, 2021
Quick and easy claiming process
I was looking for a two wheeler insurance policy for my bajaj pulsar 125. I wanted to purchase a policy which does not require me to run around to get the claiming done. I ended up purchasing the National two wheeler insurance policy because the promise to provide quick claiming process. Thanks team
Divesh
Faridabad, May 10, 2021
Low premium rates
I recently bought a Honda active and I was looking to purchase a two wheeler insurance policy. I went online and went on the policybazaar website. I was amazed to see so many insurance policies and I chose the national two wheeler insurance policy because it fit my budget and the premium rates were low. Thanks guys.
Roma
Hadol, May 10, 2021
Good coverage
I was looking for a two wheeler insurance policy for my Honda shine. I purchased the bike recently and I wanted a policy that could provide cover in case of accident happens. I went on policybazaar and I bought national two wheeler insurance policy because it fit my needs. Thanks team
Rohit
K.c. Pur, March 19, 2021
Numerous Methods to Make Online Payment
I purchased National Two-Wheeler Insurance for my Bajaj Pulsar 150CC bike through policybazaar.com. First of all, I want to say that despite being new at online purchase I did not find any difficulty in online purchase of bike insurance policy as their user interface is very easy, Moreover, policybazaar.com provides numerous options to make an online purchase which includes the use of debit/ credit card, NEFT transfer, using UPI payment, Net-Banking, etc. are to name a few. I used debit card payment and purchased policy without any issue.
Hemali
K.c. Pur, March 09, 2021
Quick and Simple Policy Renewal
I wanted to renew the National Two-Wheeler Insurance policy online and I selected policybazaar.com as a platform. The understandable user interface of this website helped me to quickly renew my policy.