Download the Policybazaar app
to manage all your insurance needs.
Oriental Zero Depreciation Bike Insurance Policy
Vehicles have become a regular part of life for years. Just as individuals require a safety blanket, so do the vehicles. One such safety blanket is getting your vehicle insured. The Oriental zero dep bike insurance or zero depreciation two-wheeler Insurance cover provides the two-wheeler with insurance and ensures that the customers can get the full coverage amount without any deduction of depreciation amount.
-
Home
-
Two Wheeler Insurance
-
Oriental Two Wheeler Insurance
- Oriental Zero Depreciation Bike Insurance
In general, a zero depreciation cover helps the customers to not lose the claim amount due to the depreciation value of the bike parts. Further benefits and features of this cover are briefly discussed below.
Oriental Two Wheeler Insurance Plans
Benefits of Oriental Zero Depreciation Bike Insurance Add-on
The zero depreciation add-on cover comes with a set of benefits that aim to ensure that the customer receives the best of the insurance policy. The key benefits are highlighted below-
- Oriental Zero Depreciation Bike Insurance Add-on ensures full settlement of the claim amount without deduction of the depreciation value
- Another significant benefit of adding the oriental zero depreciation bike insurance add-on is that it helps the customers in saving some money. Despite what the depreciation value is, 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 Two-wheeler Depreciation Rate with and without Oriental Bike Insurance Zero Depreciation Cover
Below is a table showcasing the rate of depreciation that would be applicable with and without a zero depreciation cover:
|
Age of the Two-Wheeler |
Depreciation Rate With Oriental Zero Depreciation Cover (In Percentage) |
Depreciation Rate Without Oriental Zero Depreciation Cover (In Percentage) |
|
Less than six months |
Zero |
Nil/NA |
|
6-12 months |
Zero |
Five |
|
1-2 years |
Zero |
Ten |
|
2-3 years |
Zero |
Fifteen |
|
3-4 years |
Zero |
Twenty-five |
|
4-5 years |
Zero |
Thirty-five |
|
5-10 years |
Zero |
Forty |
|
Over 10 years |
Zero |
Fifty |
Below is a table showcasing the rate of depreciation as applicable on the insured two-wheeler parts:
|
Parts of the Two-Wheeler |
Depreciation Rate without the Oriental Zero Depreciation Cover |
Depreciation Rate with Oriental Zero Depreciation Cover |
|
Parts of rubber or nylon or plastic |
Fifty |
Zero |
|
Parts of Fiberglass |
Thirty |
Zero |
|
Parts of Glass |
Nil/NA |
Zero |
Factors that affect 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
- Repairs and replacement of parts
- Repairs and replacements expenses that occur due to the usage of the two-wheeler are not covered, i.e., the general maintenance that happens - for instance, a punctured tyre.
- Limits of claim coverage
- Customers would not be receiving any coverage if and when the two-wheeler is entirely at a loss, i.e., the presence of total electrical and mechanical breakdown of the two-wheeler.
FAQs
-
Q1. Is zero depreciation add-on cover beneficial for two-wheelers?
Yes, it is beneficial to add a zero depreciation cover to a two-wheeler policy. The add-on helps the customers by reducing plausible financial spending over the expensive bike parts that are subject to depreciation.
-
Q2. How can I buy Oriental zero depreciation add-on cover?
It is relatively easy to add the Oriental zero deprecation bike Insurance add-on cover to an existing bike insurance policy. It can be done by visiting the insurance provider's branch office or through their official website. For further help, you can call the Policybazaar’s helpline number.
-
Q3. If the damage to the two-wheeler occurs outside scope of geographical area, will the damage be covered by the Oriental zero dep bike insurance policy?
Under the zero depreciation cover, damages that occur in a specified geographic area would be covered. Any damages that happen outside this set location will not be covered. This is similar for policies with the zero depreciation add-on and policies that do not have the add-on.
Two Wheeler Insurers
Bajaj Allianz Two Wheeler Insurance
Digit Two Wheeler Insurance
IFFCO Tokio Two Wheeler Insurance
Kotak Mahindra Two Wheeler Insurance
Liberty Two Wheeler Insurance
National Two Wheeler Insurance
Navi Two Wheeler Insurance
New India Assurance Two Wheeler Insurance
Reliance Two Wheeler Insurance
SBI Two Wheeler Insurance
Shriram Two Wheeler Insurance
Tata AIG Two Wheeler Insurance
United India Two Wheeler Insurance
Universal Sompo Two Wheeler Insurance
Zuno Two Wheeler Insurance
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Two Wheeler insurance articles
Recent Articles
Popular Articles
08 May 2023
A vehicle number plate is a metal plate with the registration
03 May 2023
You can easily cancel your bike insurance policy at any time by
25 Apr 2023
As a two-wheeler owner, you must have active bike insurance to
28 Mar 2023
The price range plays a significant role when purchasing a bike
24 Mar 2023
To ride your bike legally on the Indian roads, you have to abideOriental Zero Depreciation Bike Insurance Policy Reviews & Ratings
(Showing Newest 10 reviews)