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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 as per the bike’s Insured Declared Value (IDV) that is finalized at the time of purchase or renewal.
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- Zuno Zero Depreciation Bike Insurance
ZUNO Zero Depreciation Policy
ZUNO Zero Depreciation Bike Insurance Policy offers compensation without applying depreciation on its parts. Zero depreciation cover is an add-on cover that you can buy at a nominal premium with your comprehensive bike insurance policy.
ZUNO Zero Depreciation Policy Eligibility Criteria
A few conditions applicable to this add-on are as follows-
| Criteria | Specifications |
| Availability | To bikes less than 7 years old |
| Claims Covered | First 2 claims during the policy term |
| If repaired at a non-network garage | 10% of the claim amount shall be deducted |
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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 that would be incurred on repair and replacing the damaged parts.
You can check several other benefits from the insurer’s policy wording available on their official website.
ZUNO Zero Depreciation Bike Insurance vs. Comprehensive Bike Insurance
The following table lists the applicable depreciating rate for a comprehensive bike insurance policy and ZUNO zero depreciation bike Insurance-
| 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% |
Coverage under ZUNO Zero Depreciation Add-On Cover
The ZUNO zero depreciation is an add-on cover available in comprehensive bike insurance, which covers the depreciation value of the vehicle’s parts. The insurance policy will bear the costs and pay out the claim amount in the event of-
- Lightning or explosion
- Burglary or theft
- Riots and Strikes
- Malicious Acts
- Accidental External Affairs
- Landslide/Rockslide
- Terrorist Activity
The following table lists different parts of a bike along with the rate of depreciation that is applicable in percentage-
| 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% |
FAQs
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Q: Do I need to purchase the ZUNO zero depreciation add-on separately?
Yes, the ZUNO zero depreciation is an add-on cover that you must buy with your comprehensive bike insurance policy.
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Q: How does ZUNO zero depreciation add-on work?
ZUNO zero depreciation is an add-on cover that helps in covering 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.
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Q: What is excluded from ZUNO's zero depreciation policy?
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 of the same will be paid out to the insured.
- If the driver was found to be driving under the influence of intoxicating substances and/or drugs.
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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
