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Bajaj Allianz Zero Depreciation Bike Insurance
Bikes lose value over time, just like other things. Regular insurance policies don’t cover this loss in value, so when you make a claim, the insurance company deducts the depreciation amount. With Bajaj Allianz Zero Depreciation cover, you don’t have to worry about this. It lets you claim the full amount for any damage. It also covers the cost of repairing or replacing parts, helping you avoid losing the bike's value.
Benefits of Bajaj Allianz Zero Depreciation Add-On Cover
- 01
Full Claim Amount
You get the complete claim amount without any deduction for the bike’s depreciation. This means no depreciation in value because of the wear and tear process over time.
- 02
Covers Repairs & Replacements
Repair and replacement costs for the bike's damaged parts are covered completely. You do not pay these costs from your pocket.
- 03
Saves Money
This cover saves you from paying the depreciation costs during claim settlement, reducing your financial burden.
- 04
Better Protection
Your bike’s value remains protected during claims. This ensures you don’t lose money if your bike needs repairs or parts replacement.
- 05
Peace of Mind
With this add-on, you don’t have to worry about unexpected expenses. It provides security and financial ease in case of damage.
Depreciation Rate of Bike - Without and With Bajaj Allianz Zero Depreciation Add-On
| Age of Bike | Without the Zero Depreciation add-on | With the Zero Depreciation add-on |
|---|---|---|
| Under 6 months | Nil | 0% |
| 6 months to 1 year | 5% | 0% |
| 1 to 2 years | 10% | 0% |
| 2 to 3 years | 15% | 0% |
| 3 to 4 years | 25% | 0% |
| 4 to 5 years | 35% | 0% |
| 5 to 10 years | 40% | 0% |
| More than 10 years | 50% | 0% |
Depreciation Rates According to the Parts of the Bike
| Parts of a Bike | Without Zero Depreciation | With Zero Depreciation |
|---|---|---|
| Rubber/Nylon/Plastic parts | 50% | 0% |
| Fibre Glass Parts | 30% | 0% |
| Glass Parts | Nil | 0% |
Disclaimer: The given depreciation rates in the above tables are indicative. Check your policy document to get the exact terms and conditions.
Bike Insurance Plans By Bajaj Allianz
What’s Covered and Not Covered in Bajaj Allianz Zero Depreciation Add-On Cover
What's Covered
Parts Coverage
This covers the cost of parts like nylon, rubber, fiberglass, and plastic when damaged.
Repair/Replacement Costs
The cost of repairs or replacement is fully covered during claim settlement.
Battery and Tyres
Partial damage to the battery and tyres is also covered without depreciation.
Policy Upgrade
You can add the zero depreciation cover when renewing or buying the policy.
What's Not Covered
Mechanical Issues
Damage caused by mechanical faults or failures is not covered.
Wear and Tear
Normal aging and wear-and-tear of the bike are excluded.
Total Damage
Full loss or damage to the vehicle is not covered under this add-on.
Uninsured Items
Items like tyres, gas kits, or a CNG kit won’t be compensated if they are uninsured.
Things to Know About Bajaj Allianz Zero Depreciation Cover
Here are a few things that you must keep in mind that affect the zero depreciation cover:Bike Age Limit
This cover is only for bikes that are up to 2 years old.
Limited Claims
You can use this cover only twice during the policy period.
No Coverage for Some Issues
It does not cover damage caused by mechanical problems or regular wear and tear.
Loss Protection
It provides coverage for both total and partial loss of your bike.
FAQs
Zero Depreciation Cover lets you get the full claim amount without deducting the depreciation value of your bike parts.
This cover is available for bikes that are up to 2 years old.
You can make up to two claims during the policy period.
No, regular wear and tear or mechanical damage is not covered under this add-on.
Yes, you can add a Zero Depreciation Cover when buying or renewing your bike insurance policy.