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ICICI Lombard Zero Depreciation Cover

ICICI Lombard Zero Depreciation cover is a bike insurance add-on which can be opted with ICICI Lombard comprehensive and standalone own-damage bike insurance policies. This add-on helps you get complete coverage without deduction of the depreciation expense incurred by your bike.

By default, the liability of the depreciation expenses incurred by the insured’s bike rests with the vehicle’s owner. However, by opting for the ICICI Lombard zero depreciation cover, a policyholder can shift this burden to the insurance company.

When a policyholder opts for the ICICI Lombard Zero Depreciation cover, no amount is deducted as depreciation charge on replaced parts from the claim amount issued by the insurance company. Thus, the ICICI Lombard zero depreciation cover prevents loss of claim amount caused by depreciation to policyholders.

Benefits of ICICI Lombard Zero Depreciation Add-on Cover

  • Higher Claim Amount Received - The policyholders get a higher claim amount as no depreciation expense is deducted from the claim amount.
  • Get the Complete Coverage - With the zero depreciation add-on the insurer provides coverage for your bike and all its parts at 100% except tyres, tubes and batteries for which the cover is provided at 50%.

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



6 months to 1 year



1-2 years



2-3 years



3-4 years



4-5 years



5-10 years



Above 10 years



Part of Bike

Rate of Depreciation Without Zero Depreciation

Rate of Depreciation With Zero Depreciation

Rubber/nylon/ plastic parts



Fibre glass parts



Glass parts



Factors Affecting ICICI Lombard Zero Depreciation Cover

The ICICI Lombard Zero Depreciation Cover provides many benefits to the policyholders, however, it is available with the following terms and conditions:

  • This add-on can be availed by insured bikes with a maximum age of 2 years
  • This add-on shall not be applicable in the event of a total loss of the insured’s bike
  • The policyholder shall be liable for a voluntary deductible amount as opted for this add-on, for each payable claim under this add-on
  • The Zero Depreciation cover is only applicable on the first two claims during the policy tenure. Any subsequent claims shall be subject to deduction for depreciation as per the rates stated in the policy terms and conditions.

Must Read Articles before buying Icici Lombard Bike Insurance

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ICICI Lombard Zero Depreciation Add-on Cover FAQS

  • Do I need to add the Zero Depreciation cover to my policy if I don’t live in an accident-prone zone?

    Ideally, you should opt for the zero depreciation cover irrespective of the area in which you live. By opting for the ICICI Lombard Zero Depreciation cover you get the maximum coverage for any damage incurred by your bike even if you do not live in an accident-prone zone.

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

    Zero Depreciation Cover can be purchased along with the ICICI Lombard comprehensive bike insurance policy as well as with the ICICI Lombard standalone own-damage bike insurance plan. You can visit the official website of ICICI Lombard General Insurance or you can call their customer care number 1800-209-8888.

  • How many times can I claim for Zero Depreciation Cover?

    A policyholder can claim the Zero Depreciation cover twice during the tenure of the ICICI Lombard bike insurance policy. Any further claims made in the policy tenure will be subject to deduction as the terms and conditions.

  • Will there be any depreciation for paintwork if the policyholder has the Zero Depreciation Cover?

    The paintwork of the insured’s bike is always subject to depreciation. The depreciation rate for paintwork is the same for policies with Zero Depreciation and policies without Zero Depreciation. The depreciation rate applicable at the paint work of the insured’s bike is 50%.

  • Does the Zero Depreciation provide coverage for a total loss?

    The ICICI Lombard bike Zero Depreciation does not provide coverage in case of total loss for insured’s bikes.

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