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Bharti AXA Zero Depreciation Bike Insurance Add On
Bharti AXA Zero Depreciation Bike Insurance is an extra cover that helps you get more money during bike repairs. Usually, the insurance company cuts some money from the claim because bike parts become old over time. This is called depreciation. With zero depreciation cover, this cut is not done. This means Bharti AXA pays the full cost of damaged parts like plastic, rubber, and fibre. So, you pay less from your own pocket. You can add this cover to comprehensive bike insurance or standalone own damage insurance. It is best for new bikes or expensive bikes.
Benefits of Bharti AXA Zero Depreciation Bike Insurance
Here are some easy-to-understand benefits of Bharti AXA Zero Depreciation Bike Insurance:Higher claim amount
No money is cut for depreciation, so you get more money for repairs.
Full cost for bike parts
Parts like plastic, rubber, and fibre are paid at full price.
Less money from your pocket
You pay less yourself after an accident.
Good for new bikes
Best for new and expensive bikes with costly spare parts.
Easy and worry-free repairs
Claims are simpler, and repair costs are easier to manage.
Helpful in city traffic
Covers small damages that happen often on busy roads.
Low-cost extra cover
Gives good protection for a small extra cost.
Depreciation Rate of Bike - Without and With Bharti AXA 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.
Inclusions and Exclusions of Bharti AXA Zero Depreciation Bike Insurance
InclusionsPays the full cost of repair or replacement without cutting money for depreciationCovers plastic, rubber, and fibre parts at full priceCovers damage from accidents, fire, theft, and natural disastersAllows free (cashless) repairs at Bharti AXA network garagesHelps you pay less money from your own pocket during claimsExclusionsTotal loss or theft is paid as per the bike’s IDV valueDamage caused while riding after drinking alcohol or taking drugsRiding without a valid driver's licenseNormal wear and tear or mechanical and electrical problemsTyres, tubes, nuts, bolts, and small consumable items (unless mentioned)Mandatory deductible amount that you must pay yourself
Step 1: Go to the Square Insurance website and select bike insurance.Step 2: For a new bike, click on “Got a New Two-Wheeler.” For an old bike, enter the bike registration number and click “View Plans.”Step 3: Enter details like RTO, bike brand, model, variant, and registration year.Step 4: Look at the available bike insurance plans. Compare price and coverage.Step 5: Select Zero Depreciation from the add-ons list. You can also choose extra covers if needed.Step 6: Make sure your bike is allowed for zero depreciation cover. Usually, bikes up to 5 years old are eligible.Step 7: Fill in your personal, nominee, and bike details. Pay online using UPI, card, or net banking.Step 8: After payment, your insurance policy will be sent to your email.
Steps to Buy Zero Depreciation Bike Insurance from Square Insurance
Bike Insurance Plans By Bharti AXA
FAQs
It is an extra cover you can add to your bike insurance. It helps you get more money during repairs by not cutting money for old parts.
It stops the insurance company from reducing the claim amount because of depreciation. This means less money from your pocket.
You can add it to comprehensive bike insurance or standalone own damage insurance.
Yes. Usually, bikes up to 5 years old can get zero depreciation cover.
Yes, but only a little. It gives strong protection for a small extra cost.