New India Zero Depreciation Add-on
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New India Zero Depreciation Cover
The depreciation in the value of the bike and its parts are taken into account at the time of claim settlement. The claim amount is determined after deducting the depreciation charge and the deductibles. To prevent the deduction of the depreciation factor, the policyholder may opt for a Zero Depreciation cover. New India Assurance Zero Depreciation cover helps the policyholders to avail the maximum claim amount by preventing the deduction of the depreciation charge.
New India Assurance Zero Depreciation cover along with standalone own damage and comprehensive bike insurance policy assures maximum claim amount without factorizing the depreciation charges. It provides the facility of free of cost repair and replacement of the depreciated parts of the insured’s bike.
Benefits of New India Zero Depreciation Add-On Cover
You can enjoy the following benefits with zero depreciation add-on cover offered by the New India Assurance Company:
- Higher claim - The policyholders opting for the Zero Depreciation enjoy a higher claim on the assured amount as the insurer does not deduct any charges for the depreciation in the value of the insured’s bike. It ensures the policyholders to enjoy the maximum claim amount.
- Saves money - A slight increase in premium amount due to Zero Depreciation cover helps to save the expenses on the repair and replacement of the depreciable bike parts such as rubber, metal, plastic, nylon, fibre etc.
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
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
Factors Affecting New India Zero Depreciation Cover
To avail the benefits of New India Assurance Zero Depreciation cover, You need to abide by some of the conditions mentioned below:
- The Zero Depreciation cover can be availed only if the age of bike does not exceed 2 years.
- This cover can be claimed only twice in the entire policy period.
- This does not cover normal wear and tear.
- The insurer does not cover total loss, mechanical and electrical breakdown of the bike.
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Must Read Articles before buying New India Bike Insurance
- Looking for reasons to buy New India Bike Insurance Plan? Read on this blog to find out the benefits in detail!
- Read this article to know why you should buy two-wheeler insurance at New India Insurance.
- Read this article to find out easy steps on how you can get a duplicate copy of your bike insurance policy documents from New India Assurance.
- You should consider tips to maintain your bike during corona. So, here are a few tips that you can follow to take care of your bike during covid.
- If you are wondering about how much bike insurance costs. We have compiled the tips to know the cost of a two-wheeler insurance policy.
New India Bike Insurance User Reviews
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New India Assurance Zero-Depreciation Add-on Cover FAQs .
What are the factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover?
The factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover are as follows.
- Age of the vehicle
- Model or variant of the vehicle
- Area of residence
Does New India Assurance Zero Depreciation provide free of cost repair of the depreciated bike parts?
Yes, if you opt for the New India Assurance Zero Depreciation cover, then the insurance company provides free of cost repair of the depreciated bike parts up to 2 claims.
Is the Zero Depreciation cover available only for new bikes?
New India Assurance Zero Depreciation cover is available for new as well as old bikes. However, the age of the bike should not exceed 2 years.
Which depreciable bike parts are covered under New India Assurance Zero Depreciation cover?
New India Assurance Zero Depreciation cover provides coverage for the repair of the following bike parts:
Where can I get more information about the New India Assurance Zero Depreciation cover?
You can get more information about New India Assurance Zero Depreciation cover
- through their official website
- By visiting the nearest branch
- By calling on its toll-free number 1800 209 1415
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