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Shriram Zero Depreciation Cover

The depreciation charges for the reduction in the value of bike with time is deducted from the claim amount. To avoid this deduction, the policyholders can opt for Zero Depreciation add-on cover along with a standalone own damage or a comprehensive policy. Shriram Zero Depreciation cover ensures that depreciation charges are not deducted from the claim amount at the time of claim settlement.

Shriram Zero Depreciation add-on enables the policyholders to receive maximum claim amount. Availing this cover, with a slight increase in premium, assures free of cost repair and replacement of the depreciable part of the insured’s bike.

Benefits of Shriram Zero Depreciation Cover

  • Higher Claim: By opting for Zero Depreciation cover, the policyholders can enjoy maximum claim. As no depreciation charge gets deducted with the Zero Depreciation cover, the policyholders can claim the maximum assured sum from the insurance company.
  • Helps in Saving Money: The Shriram Zero Depreciation add-on cover bears the expense of repairing and replacing of the depreciable parts of the insured’s bike. Thus, the policyholders can save money which is to be spent on repairing and replacing 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 Shriram Zero Depreciation Cover

Here are the factors which affect Shriram Zero Depreciation Cover and the add-on can be availed only by abiding the below mentioned conditions:

  • It can be availed by bikes with a maximum age of 5 years.
  • You can claim this cover only twice in the entire policy period.
  • The repair and replacement due to common wear and tear are exclusions under this cover.
  • No coverage is provided in cases of a total loss, mechanical and electrical breakdown of the bike.

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Shriram Bike Insurance User Reviews

4.9
Rating based on
282 User reviews
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What users are saying
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  • Too many plans to choose from

    There are a lot of plans available on the InsuranceDekho website. After viewing all of them, I chose the Shriram bike insurance plan for my Liberty Bike Insurance Policy, the plan covers my bike with the best of the benefits and has satisfied me. Loved the plan.

    Read More

    P
    By Parth Kakkar
    On: March 17, 2023
  • Detailed explanation

    InsuranceDekho provides a detailed explanation about each plan they offer. After going through all the plans well in detail, I chose the Shriram bike insurance plan for my Mangus EX. I chose this plan because it met all my requirements. I am quite happy with my purchase.

    Read More

    A
    By Abhishek Kumar
    On: March 1, 2023
  • Informative website

    While buying the Shriram bike insurance plan for my Vespa SXL 150, from the InsuranceDekho website I read about various things that were displayed on the website. Like the IDV and its importance, claim settlement ratio, and a lot more. The benefits of the plan I bought were also available. The plan offers varied features and benefits that are expected from a good bike insurance plan. Happy with the purchase.

    Read More

    A
    By Arpit Pathak
    On: February 20, 2023
  • Authentic information

    I purchased Shriram bike insurance policy for my TVS Pep Plus from InsuranceDekho. I was able to purchase the insurance policy with the help of authentic information on the InsuranceDekho, the product description was detailed enough to help me understand all the features of the bike insurance policy. I am very happy with my purchase.

    Read More

    A
    By Akash Bajaj
    On: February 9, 2023
  • The reminder feature is amazin...

    The procedure of purchasing a plan is so much uncomplicated on the website as it is arranged perfectly. I purchased a Shriram bike insurance policy for my Triumph street twin from insurancedekho.com, which always reminds me to renew my policy on time.

    Read More

    V
    By Vikas Singh
    On: January 30, 2023
  • The reminder function is amazi...

    The procedure of purchasing a plan is so uncomplicated on the website as it is arranged perfectly. I purchased a Shriram bike insurance policy for my Triumph street twin from InsuranceDekho, which always reminds me to renew my policy on time.

    Read More

    A
    By Ayan Ajhmed
    On: January 24, 2023
  • Detailed explanation

    InsuranceDekho provides a detailed explanation about each plan they offer. After going through all the plans well in detail, I chose the Shriram bike insurance plan for my Mangus EX. I chose this plan because it met all my requirements. I am quite happy with my purchase.

    Read More

    A
    By Abhishek Kumar
    On: January 11, 2023
  • The Chat box feature availabl...

    The InsuranceDekho website has a chat box feature which is quite helpful. While buying the Shriram bike insurance plan for my Vespa Elegante 125, I listed all my queries on the chat box. All my queries were solved within seconds. Thanks to the team.

    Read More

    By Dhruv Sharma
    On: January 3, 2023
  • Informative website

    While buying the Shriram bike insurance plan for my Vespa Elegante 125 from the InsuranceDekho website, I learned about IDV and the importance of the claim settlement ratio. These are the things I didn't know before, and I am really happy that I know these now.

    Read More

    K
    By Kush Singhal
    On: October 13, 2022
  • Well managed website

    The InsuranceDekho website is very well managed and maintained. All the things are arranged properly. While buying the Shriram two-wheeler insurance for my Hero Splendor, it was very easy to locate everything that I wanted on the website.

    Read More

    V
    By Vivek Sharma
    On: August 24, 2022
Shriram Reviews

Shriram 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:

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

  • Does the Zero Depreciation cover provide coverage for plastic parts of bikes?

    Yes, the Zero Depreciation add-on provides coverage for the plastic parts of the insured’s bike. The rate of depreciation for plastic parts without the Zero Depreciation charge is 50%, but in presence of the Zero Depreciation cover, the depreciation charge is not taken into account.

  • 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.

    An inspection may be conducted by the insurance company to check the condition of the insured’s bike before including this add-on to the policy.

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

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

  • I don’t own a luxury bike, do I still need to add the Zero Depreciation cover to my policy?

    You can add the Zero Depreciation cover to your policy even if you don’t own a luxury car for the maximum protection. It will help you to get the depreciable parts of your bike repaired or replaced without costing you any money.

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