National Zero Depreciation Bike Insurance

National Insurance Zero Depreciation Bike Insurance Add-on Cover

National Zero Depreciation Bike Insurance policy offers comprehensive bike insurance coverage with zero depreciation add-on cover. It covers the insured bike against third party liabilities and own damages without considering depreciation. The enhanced cover doesn't let the National Insurance Company Limited charge the depreciation amount from the policyholder as it provides coverage for the repair and replacement of the insured bike and its parts.

The National Zero Depreciation Bike Insurance allows the policyholders to claim maximum claim benefits with no deductions. However, the zero depreciation cover needs to be purchased under the two wheeler insurance on payment of an additional premium amount.

People who have luxury two-wheelers with expensive parts and who live in accident-prone areas should go for the zero dep add-on cover under their National bike insurance . People with new bikes should also opt for this add-on cover.

Benefits of National Zero Depreciation Add-on Cover

 The benefits of getting two-wheelers insured under the National Zero Depreciation Bike Insurance policy are:

• Higher Claim Value: In the case of a standard National bike insurance policy, the claim value depends on various factors like the depreciation value of the bike parts. Under zero depreciation add-on cover, the policyholder only needs to pay some extra premium to enjoy the maximum claim value of the bike insurancepolicy. There are no deductions due to the depreciation on the two-wheeler’s value with the zero depreciation add-on cover.
• Lowers Out-of-Pocket Expenses: In a standard two wheeler insurance policy, the policyholderhas to pay more for the repair of the bike or its parts as not the claim amount reduces due to depreciation. But under a zero depreciation bike policy, the National Insurance Company pays for the repair and replacement of the bike, thereby, reducing the out-of-pocket expenses of the policyholder. It is more beneficial for high-end bike owners as the repair of luxury bike parts is expensive.
• Monetary Benefits: The policyholder saves money on the repair costs of theinsured two-wheeler as the maximum claim amount is higher in the case of a zero depreciation bike insurance policy.

Depreciation Rates Applicable on Bikes With and Without Zero Depreciation Add-on Cover

Depreciation Rates Applicable on Bike Parts with and without Zero Depreciation Add-on Cover

Factors Affecting the Zero Depreciation Cover of National Bike Insurance

Factors that affect the zero depreciation bike insurance policy by the National Insurance Company are: 

1. The zero depreciation can be claimed only twice by the policyholderduring a policy year.
2. The maximum age of the bike to avail of the zero depreciation policy is 2 years.
3. The bike's normal wear and tear do not come under the scope of zero depreciation cover of National Insurance Company L
4. The zero depreciation add-on cover of the National Insurance Company does not cover total loss or damage beyond the repair of the bike.

FAQ's