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Cholamandalam Zero Depreciation Cover

The loss of value of a bike due to passage of time is considered as a depreciation factor by the insurance company. The insurer deducts a depreciation charge from the claim amount at the time of claim settlement. One can opt for Zero Depreciation add-on to avoid this deduction. Cholamandalam Zero Depreciation cover opted along with a comprehensive or a standalone own damage shields its policyholders from any deduction due to depreciation from the claim amount.

Cholamandalam Zero Depreciation ensures the maximum claim amount without factoring any depreciation charges. The policyholder can avail free of cost repair and replacement of the depreciable bike parts at the network garages.

Benefits of Cholamandalam Zero Depreciation Add-on Cover

  • Higher claim: Availing the Zero Depreciation add-on prevents the deduction of any depreciation charges from the claim money. It ensures that the policyholders can enjoy the maximum claim amount.
  • Helps saves money: Under the Cholamandalam Zero Depreciation cover, the free repair and replacement of the depreciated bike parts can be availed. Therefore, the policyholders can save the money needed for the repair and replacement of the depreciable bike parts.

Depreciation Rate Applicable on Bike With And Without Zero Depreciation Add-on

Age of Bike

Rate of Depreciation Without Zero Depreciation Cover

Rate of Depreciation With Zero Depreciation Cover

Under 6 months

Nil

0%

6 months to 1 year

5%

0%

1-2 years

10%

0%

2-3 years

15%

0%

3-4 years

25%

0%

4-5 years

35%

0%

5-10 years

40%

0%

Above 10 years

50%

0%

Part of Bike

Rate of Depreciation Without Zero Depreciation

Rate of Depreciation With Zero Depreciation

Rubber/Nylon/Plastic parts

50%

0%

Fibre glass parts

30%

0%

Glass parts

Nil

0%

Factors Affecting Cholamandalam Zero Depreciation Cover

Policyholders enjoy multiple benefits with the Cholamandalam Zero Depreciation cover; however, the following conditions should be kept in mind:

  • It is available for bikes with a maximum age of 5 years
  • Policyholders can register only two claims in the entire policy tenure
  • Repair and replacement due to common wear and tear are exclusion
  • No coverage is provided in cases of complete damage, mechanical and electrical breakdown.

Explore Cholamandalam Bike Insurance

Must Read Articles before buying Cholamandalam Bike Insurance

Cholamandalam Bike Insurance User Reviews

4.9
Rating based on
155 User reviews
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What users are saying
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  • Transparent Renewal Costs

    I appreciated the transparency in the renewal costs of the Chola MS Bike Insurance Policy for my Hero bike presented by InsuranceDekho. There were no hidden fees or unexpected charges. What I saw in the renewal quote is what I paid.

    Read More

    V
    By Vinit Chauhan
    On: November 15, 2023
  • Trustworthy Own Damage Partner...

    I trust InsuranceDekho as a trustworthy partner for own damage bike insurance for my Kawasaki bike. Their commitment to policyholders of the Chola MS Bike Insurance Policy and professionalism set them apart.

    Read More

    By Ajay Srikant
    On: October 17, 2023
  • Transparent Billing at Cashles...

    The transparency in billing at InsuranceDekho's cashless garages is commendable. There were no surprises, and I knew exactly what was covered under the Chola MS Bike Insurance Policy. A trustworthy choice to insure my Ampere bike.

    Read More

    A
    By Abihishek Pandey
    On: September 20, 2023
  • Ideal for New Car Owners

    For new bike owners, InsuranceDekho's zero depreciation Chola MS Bike Insurance Policy is ideal. The policy did preserve my investment and provided complete peace of mind when it came to my newly purchased KTM bike.

    Read More

    R
    By Ravi Dubey
    On: September 15, 2023
  • Prompt Claim Settlement for Ow...

    I had to file a claim for the Chola MS Bike Insurance Policy for my own damage to my Kawasaki bike, and InsuranceDekho settled it promptly. Their efficiency made a challenging situation much easier to handle.

    Read More

    S
    By Shree Srivastav
    On: September 13, 2023
  • Transparent Renewal Costs

    InsuranceDekho's renewal process is transparent, with clear details about costs and coverage for my Suzuki bike. I'm confident I'm getting the best value for my Chola MS Bike Insurance Policy renewal.

    Read More

    K
    By Kabir Wadhwa
    On: September 11, 2023
  • Holistic Approach to Protectio...

    InsuranceDekho's Comprehensive Coverage that comes along with the Chola MS Bike Insurance Policy takes a holistic approach to the protection of my Suzuki bike. From covering damages to third-party liabilities, it ensures all aspects are accounted for.

    Read More

    By Priyal Das
    On: September 5, 2023
  • Reliable Partnerships

    I recently bought the Chola MS Bike Insurance Policy for my Vespa bike from InsuranceDekho and added the Cashless Garages benefit to it. And I must say that there is a testament to their reliable partnerships. The quality of repairs and service at these garages has consistently exceeded my expectations.

    Read More

    S
    By Sameer Sayyed
    On: September 1, 2023
  • Value-Retaining Protection

    The Zero Depreciation Car Policy with InsuranceDekho’s Chola MS Bike Insurance Policy ensures my BMW bike’s value is retained over time. I don't have to settle for reduced claim amounts due to depreciation.

    Read More

    L
    By Lanchen Yoshi
    On: August 29, 2023
  • Third-party insurance

    I read several excellent and informative articles about third-party insurance while looking to renew my Chola MS Bike Insurance Policy for my Suzuki bike on the InsuranceDekho website. I was relieved to have added that to my policy. It secured my vehicle against property damage by any third person.

    Read More

    S
    By Saurabh Bajpai
    On: August 25, 2023
Cholamandalam Reviews

Cholamandalam Zero-Depreciation Add-on Cover FAQs

  • Who should opt for the Zero Depreciation cover?

    It is always advisable to opt for Zero Depreciation cover to receive the maximum claim amount. However, it is best suited for the following people:

    • New bike owners
    • Inexperienced bike drivers
    • Luxury bike owners
    • Owners living in the accident-prone zones.

  • Does Cholamandalam Zero Depreciation cover provide free of cost repair of the rubber bike parts?

    Yes, if you avail the Cholamandalam Zero Depreciation cover, then the insurance company provides free of cost repair of the rubber bike parts up to 2 claims in the network garages.

  • Do I need to renew the Zero Depreciation cover every time I renew my Cholamandalam comprehensive bike insurance policy?

    Yes, you need to renew the Zero Depreciation cover every time you renew your Cholamandalam comprehensive bike insurance policy provided it satisfies the conditions of Zero Depreciation cover at the time of renewal.

  • Does Zero Depreciation provide coverage beyond the city limit?

    The Cholamandalam Zero Depreciation will only provide coverage within the predetermined geographical zone. The insurer will not bear the expense of any damage incurred by the insured’s bike outside the area.

  • How can I add the Zero Depreciation cover to my policy?

    You can add the Zero Depreciation cover to your policy in the following ways:

    • Visit their official website
    • Dial their toll-free number 1800 208 554
    • Visit the nearest branch

    You can add this cover to your comprehensive bike insurance policy at the time of purchase, renewal or in the middle of the tenure.

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