SBI General Zero Depreciation Bike Insurance

Understanding Depreciation in Two-Wheeler Insurance

Depreciation refers to the decrease in the value of an asset over time due to wear and tear, age, and usage. The insurer typically deducts a percentage for depreciation from the final claim payout amount under your two-wheeler insurance policy. This means you have to pay a portion of the repair cost out of your own pocket. With the SBI General zero depreciation cover, you can eliminate the depreciation factor and receive the full insured amount for your claim.

Key Benefits of SBI General Zero Depreciation Add-On Cover

Here are the key benefits of opting for the SBI General zero depreciation add-on cover:

• Maximum Claim Amount: With SBI General zero depreciation cover, you can claim the full insured amount without the impact of depreciation. This add-on is particularly beneficial when facing costly repairs or replacements of damaged bike parts.
• Affordable Protection: This add-on cover comes at an affordable premium, and the benefits you receive far outweigh the cost. It is a wise investment for any bike owner looking for comprehensive protection.
• Reduces Out-of-Pocket Expenses: The primary objective of this add-on is to reduce your out-of-pocket expenses during claim settlement. It minimizes the risk of a lower claim payout amount, providing you with an extra layer of financial protection.

Depreciation Rates Applied Based on the Age of the Bike

Here's a breakdown of applicable depreciation rates based on the age of the vehicle with and without zero depreciation cover:

Depreciation Rates Applied on Different Parts of the Bike

Here is how depreciation rates apply to different bike parts with and without the zero depreciation cover:

Factors Affecting SBI General Zero Depreciation Cover

The following are the factors affecting SBI General zero depreciation cover:

• Age of the bike: Typically available for newer bikes (check with SBI General for their specific age limit).
• Number of claims: There might be a limit on the number of claims allowed under this cover within the policy period.
• Exclusions: Damages due to mechanical failures or normal wear and tear are not covered.
• Coverage: Offers protection in case of total loss or partial loss of the insured vehicle.