Oriental Zero Depreciation Bike Insurance

Understanding Depreciation in Bike Insurance

Depreciation in bike insurance refers to the reduction in the bike's value due to regular usage, causing wear and tear. In such cases, the insurance company applies depreciation when calculating the claim payout amount.

Benefits of Oriental Zero Depreciation Bike Insurance Add-on

The zero depreciation add-on cover comes with benefits to ensure that the customer receives the best of the two-wheeler insurance policy. The key benefits are highlighted below:

• Oriental zero dep bike insurance add-on ensures the full settlement of the claim amount without deducting the depreciation value.
• Another significant benefit of adding the oriental zero depreciation bike insurance add-on is that it helps customers save money. Despite the depreciation value, the cover will provide for repairs and replacements as per the policy terms and conditions; through this, the customer can save money that otherwise they would have had to spend on the repairs or parts replacements.

Applicable Depreciation Rate With and Without Oriental Bike Insurance Zero Depreciation Cover

Below is a table highlighting the rate of depreciation that would be applicable with and without a zero depreciation cover:

Below is a table higlights the rate of depreciation as applicable on the insured two-wheeler parts:

Factors Affecting Oriental Zero Depreciation Bike Insurance Add-on Cover

Oriental Zero Depreciation Two-wheeler Insurance Add-on has a set of predetermined factors that can potentially affect whether the customer can or cannot get the full benefits of the add-on. Such factors are briefly discussed below:

• Age of the two-wheeler: The two-wheeler's age is not supposed to be over two years.
• Number of set claims: Customers who avail of this add-on can file claims twice during the policy term. However, there, you must check the available limit under it.
• Repairs and replacement of parts: Repairs and replacement expenses that occur due to using the two-wheeler are not covered, i.e., the general maintenance cost.
• Limits of claim coverage: Customers would not receive any coverage if and when the two-wheeler is entirely at a loss, i.e., the presence of total electrical and mechanical breakdown.