United India Zero Depreciation Bike Insurance Policy

United India Zero Depreciation Bike Insurance Cover

United India zero depreciation bike insurance policy has been designed to cover the depreciation cost of the insured two wheeler. The value of a two-wheeler decreases as time passes. To shield themselves from the depreciation costs, the bike owners can buy the United India zero dep bike insurance.

Zero depreciation bike insurance of United India Insurance Company Limited eliminates the problem of reduction in the value of a bike due to its ageing by considering the invoice value of the two wheeler at the time of claim settlement. It covers both the own damages and third party liabilities of the policyholder without deducting the depreciating value of the insured bike. As a result, the insured bike is protected against depreciation and you can avail the insured declared value (IDV) of the bike as the maximum claim amount in case of adversity. 

The zero depreciation add-on cover is available under United India comprehensive bike insurance plans but at a higher premium amount.

Benefits of United India Zero Depreciation Bike Insurance Policy

Following are the benefits of buying the zero depreciation policy of United India Bike Insurance:

• Bike owners need not worry about depreciation value costs that can significantly reduce the claim amount.
• The policyholder gets a higher claim due to eliminating the depreciation factor, which will significantly increase thereimbursement amount.
• This policy covers certain vehicle parts and accessories usually not covered under the comprehensive plan.
• It is cost-effective and helps the bike owner tocut down the out-of-pocket expenses at the time of a claim.

Depreciation Rates on Bike Parts With and Without Zero Depreciation Cover

Under ordinary circumstances, the bike owner with a comprehensive plan cannot claim expenses for the damaged parts of the bike, such as fibre bodies, nylon materials, etc. However, the zero depreciation add-on cover under United India Two Wheeler Insurance ensures that the bike owner is covered for different kinds of damaged vehicle parts. The depreciation rate for bike parts is as follows:

Depreciation Rates on Bike With and Without Zero Depreciation Cover

The depreciation rate applicable as per the age of the two wheeler is as follows:

Factors that Affect the United India Bike Insurance Zero Depreciation Cover

Some of the factors that affect the United India bike insurance zero dep add-on cover are:

• The policyholdercan get United India zero depreciation cover only if the bike is less than two years old.
• You can claim the zero depreciation cover only two times in the entire policy tenure.
• The policy does not provide coverage for costs arising due to the wear and tear of the bike.
• The expensesarising from the total loss of the bike are not covered under this policy. 

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