New India Assurance Zero Depreciation Bike Insurance

New India Bike Zero Depreciation Add-on Cover

The New India Assurance zero depreciation add-on cover enhances the coverage of a regular comprehensive bike insurance policy. It provides coverage for both own damages and third party liabilities arising out of the insured bike without considering depreciation on its value. It enables the policyholder to avail higher claim amount from the New India Assurance Company Limited.

Choosing New India Assurance Zero Depreciation bike insurance cover has an advantage over, the standard motorbike insurance policy. Zero depreciation add-on cover is available under comprehensive New India Assurance two wheeler insurance plans. The policyholder can claim the repair and replacement costs resulting from the bike's damages without incurring depreciation charges.

A zero depreciation insurance policy can help the policyholder to claim the total expenses incurred due to an accident or damage to the insured bike. However, the zero depreciation add-on cover can be purchased only on payment of an extra premium amount. 

Benefits of New India Assurance Zero Depreciation Add-on Cover

The New India Assurance zero depreciation add-on cover enables the policyholder to strengthen their base two wheeler insurance. Some of the benefits of buying a New India Assurance zero depreciation bike insurance policy are:

• Coverage for Repair and Replacement of Bike Parts - Although the premium for zero depreciation cover is high, it is way lower than the expenses that the bike owner will incur if the bike gets severely damaged. The zero depreciation bike insurance policy will help to cover the cost of replacing and repairing the ruined parts of the bikes.
• Higher Claim Amount -The policyholders can claim higher amounts without deduction due to depreciation by opting for zero depreciation cover.
• Saves Money – The zero depreciation add-on cover helps the bike owner to save money as with a higher claim amount their out-of-pocket expenses are reduced in case of a claim.

Depreciation Rate Applicable on Bike With and Without Zero Depreciation Add-on

The depreciation rates on a bike with and without zero depreciation are as follows:

Depreciation Rates Applicable on Bike Parts With and Without Zero Depreciation Add-on Cover

The depreciation rates on bike parts with and without zero depreciation are as follows:

Factors Affecting the Zero Depreciation Add-on Cover of New India Assurance Bike Insurance

The below-mentioned factors must be taken into consideration before applying for the New India Assurance zero dep bike insurance cover:

• The zero depreciation claim applies to bikes that are within 2 years of age.
• The minor wear and tear of the bike that is easily repairable are not included in the claim.
• During the period of the policy, the policyholder can claim for zero depreciation only twice.
• The zero depreciation policy claims do not include the loss through mechanical or any electricalbreakdown of the two-wheeler.

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