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ZUNO Zero Depreciation Bike Insurance
ZUNO (formerly Edelweiss) zero depreciation bike insurance policy permits the policyholder to claim the original value of their bike without any depreciation or deduction. The claim amount is decided per the bike's Insured Declared Value (IDV), finalized at purchase or renewal. Read ahead to learn all about Zuno's zero-depreciation bike insurance policy.
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- Zuno Zero Depreciation Bike Insurance
Understanding Depreciation in Bike Insurance
In insurance, depreciation refers to the reduction in the value of an asset over time due to age & usage. In a basic bike insurance policy, the claim payout is based on the applicable depreciation rate of the damaged parts. However, with zero depreciation cover, you will receive the full payout amount and financial protection from depreciation incurred.
Benefits of Zuno Zero Depreciation Add-On Cover
Here are the key benefits of buying Zuno zero depreciation add-on cover:
- It helps in receiving the full amount of the bike parts without considering the effect of depreciation.
- It gives comprehensive coverage for the bike's accessories, such as bumpers, headlights, etc., which are usually excluded from standard policies.
- It helps in reducing the out-of-pocket expenses during the settlement of the claim.
- This add-on cover is an affordable premium rate and is considered the most important optional cover for bike owners.
Depreciation Rates Based on the Age of the Bike
The following table lists the applicable depreciating rate for a comprehensive bike insurance policy and zero depreciation bike insurance policy:
| Age of Bike | Bike Insurance Policy Without Depreciation Cover | Bike Insurance Policy With Depreciation Add-On Cover |
| Below 6 Months | 0% | 0% |
| 6 Months to 1 Year | 5% | 0% |
| 1 to 2 Years | 10% | 0% |
| 2 to 3 Years | 15% | 0% |
| 3 to 4 Years | 25% | 0% |
| 4 to 5 Years | 35% | 0% |
| 5 to 10 Years | 40% | 0% |
| More than 10 Years | 50% | 0% |
Depreciation Rates Based on the Age of the Bike
The following table lists the applicable depreciating rate for a comprehensive bike insurance policy and zero depreciation bike insurance policy:
| Part of the Bike | Bike Insurance Policy Without Depreciation Cover | Bike Insurance Policy With Depreciation Add-On Cover |
| Plastic/Nylon/Rubber Parts | 50% | 0% |
| Fiberglass | 30% | 0% |
| Glass Parts | 0% | 0% |
Coverage Under Zuno Zero Depreciation Bike Insurance Policy
- Inclusions
- Exclusions
Here are the inclusions of a Zuno zero dep two-wheeler insurance policy:
- This add-on covers depreciable parts such as rubber, nylon, plastic, and fibreglass damaged in a road accident.
- It offers a full payout amount for repairs or replacements due to accidents.
- It covers repair costs for accessories like bumpers and headlights.
Here are the exclusions of a Zuno zero dep two-wheeler insurance policy:
- No coverage for damage caused by mechanical or electrical failures.
- It gives no coverage for normal wear and tear over time.
- No coverage for the loss of non-insured items, such as tyres or fuel kits
Explore ZUNO Bike Insurance
Benefits of ZUNO Zero Depreciation Bike Insurance Policy
The benefits of ZUNO's zero depreciation policy are as follows:
- Full Claim Amount- The claim amount is reimbursed without factoring in the depreciation value of the bike's parts at the time of claim.
- Save Out-of-the-Pocket Expenses- ZUNO zero depreciation policy saves your out-of-the-pocket expenses incurred on repairing and replacing the damaged parts.
You can check several other benefits from the insurer's policy wording, available on their official website.
FAQs – Zuno Zero Depreciation Bike Insurance
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Q. Do I need to purchase the ZUNO zero depreciation add-on separately?
Ans: Yes, the ZUNO zero depreciation is an add-on cover you must buy with your comprehensive bike insurance policy. -
Q. How does the ZUNO zero depreciation add-on work?
Ans: ZUNO zero depreciation is an add-on cover that helps cover the entire claim cost without applying depreciation on different bike parts. It can be availed at the time of purchase and renewal by paying a nominal extra premium. -
Q. What is excluded from ZUNO's zero depreciation policy?
Ans: ZUNO bike insurance policy does not cover the following expenses:
- Wear & tear, consequential loss, mechanical & electrical failure, or breakage caused to the insured bike.
- Damage to the tubes and tyres of the two-wheeler unless the vehicle is also damaged. A 50% replacement cost will be paid out to the insured.
- If the driver was found to be driving under the influence of intoxicating substances and/or drugs.
Zero Depreciation Cover by Bike Insurers
Bajaj Allianz Zero Depreciation Bike Insurance
Digit Zero Depreciation Bike Insurance Policy
HDFC ERGO Zero Depreciation Bike Insurance Policy
ICICI Lombard Zero Depreciation Bike Insurance Policy
IFFCO Tokio Zero Depreciation Bike Insurance
Liberty Zero Depreciation Bike Insurance Policy
National Zero Depreciation Bike Insurance
New India Assurance Zero Depreciation Bike Insurance
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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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Read more^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial).The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively.Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
