Reliance Zero Depreciation Bike Insurance Policy

Reliance Zero Depreciation Bike Insurance Policy

The Reliance Zero Depreciation bike insurance policy is an add-on cover with Reliance comprehensive bike insurance policy. If you buy this cover, you will be eligible to get the total claim amount without any deductions based on the depreciation of the bike. It means whenever you file a claim; the insurer will provide financial coverage for all the repairing costs. Therefore, your two-wheeler's regular depreciation won't affect the claim amount.

Eligibility Criteria for Reliance Zero Depreciation Cover

The foremost eligibility for purchasing the Reliance zero depreciation cover is that you must have an existing comprehensive bike insurance policy. In addition, once you have purchased the zero dep cover as the additional benefit, you must be able to fulfill the following criteria for being eligible for claiming the cover:

• Your two-wheeler's age should be within two years
• Your two-wheeler's brand, model, etc., should be listed under the cover
• You can claim the once in every year
• You will be eligible to claim the cover only twice during the policy term

Benefits of the Reliance Zero Depreciation Bike Insurance Policy

The Reliance Zero Depreciation policy offers the following benefits:

• It strengthens your basic bike insurance policy
• You don't have to worry about the deductions you may get when raising a claim
• It increases the security of your two-wheeler
• The normal depreciation of your bike won't concern you
• If you have luxury two-wheelers or a bike with unique or expensive parts, this cover is more beneficial to you as it will enable you to get full claim amounts for getting those parts repaired or replaced
• You will have to bear minimum expenses while getting your two-wheeler serviced after severe damage, such as damages caused by accidents

What is covered by the Reliance Zero Depreciation Bike Insurance policy?

When you add the Reliance zero dep cover to your base policy, it will provide the following coverage benefits to you:

• Provides coverage for all rubber parts of the bike
• Provides coverage for all the nylon parts of the two-wheeler
• Provides coverage for all the plastic parts of the two-wheeler
• Provides coverage for all the fiberglass parts of the two-wheeler
• Usually, a deduction of up to 40% is levied on the claim amount by insurers; the zero dep cover provides 100% coverage

What is not covered by the Reliance Zero Depreciation Bike Insurance Policy?

Following are the few things where your Reliance Zero Dep cover won't provide coverage:

• If your base insurance doesn't offer protection for a particular type of damage, the zero dep cover will be ineffective in that case too
• It won't offer coverage for mechanical failures of your two-wheeler
• It won't offer coverage for the breakdown of any part of the vehicle that is not covered under the base policy

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