TATA AIG Zero Depreciation Bike Insurance Policy

Understanding Depreciation in Bike Insurance

Depreciation in bike insurance policy acknowledges the decrease in your bike's value over time due to regular use and inevitable wear and tear. Bike insurance companies typically factor in depreciation when calculating claim payouts, leaving you to cover a portion of the repair expenses.

Benefits of TATA AIG Zero Depreciation Bike Insurance Add-on

Choosing the TATA AIG Zero Depreciation add-on provides optimal financial protection for your bike insurance. Here's how it benefits you:

• Maximize Your Claim Settlement: By eliminating depreciation from the payout calculation, this add-on maximizes your claim payout amount. You'll receive the full cost of replacing or repairing damaged parts in an accident, regardless of their age.
• Minimize Repair Costs: The TATA AIG Zero Depreciation add-on significantly reduces your financial burden during repairs by covering the entire cost of parts. This is especially advantageous for newer bikes with expensive spare parts of the bike.
• Enjoy Worry-Free Riding: With comprehensive coverage for repair costs, you can ride with confidence and peace of mind. This add-on eliminates the stress of unexpected expenses in the event of an accident.

Applicable Depreciation Rate With and Without TATA AIG Bike Insurance Zero Depreciation Cover

The table below illustrates the depreciation rates applied with and without the TATA AIG Zero Depreciation cover according to the age of the two-wheeler:

Here's how depreciation rates vary for different bike parts with and without the TATA AIG Zero Depreciation cover for different parts of the two-wheeler:

Factors Affecting TATA AIG Zero Depreciation Bike Insurance Add-on Cover

The below factors explained below affects the TATA AIG zero dep bike insurance add-on cover:

• Bike's Age: Generally, bikes older might not be eligible for this add-on. However, as a bike owner, it check the age limit before buying this bike insurance add-on cover. 
• Claim Limits: There could be restrictions on the number of claims allowed under the zero depreciation cover during the policy term. Review the policy details carefully.
• Damage Type: The add-on primarily covers accidental damages, not those caused by regular use or lack of maintenance.
• Total Loss: In cases where the bike is declared a total loss, the zero depreciation cover may not apply.