Chola MS Zero Depreciation Bike Insurance Policy
Zero Depreciation add-on, also called bumper-to-bumper insurance, covers the complete cost of bike parts damaged against a claim without considering the depreciation. Otherwise, at the time of claim, the insurance provider deducts the depreciation value of the plastic, rubber, and metal-made parts of the vehicle, and you get a lesser amount on the actual repair charges. Zero depreciation add-on gives you the complete value for the damaged parts, which means you only need to pay the deductibles.
Chola MS provides Zero Depreciation as an add-on with a comprehensive bike insurance product to provide maximum financial coverage in case of any damage. Under this add-on, Chola MS covers the complete cost of replacement parts without deducting depreciation, thus saving the policyholder from the added expenses in case of any damage.
Depreciation Rate of Bike - Without and With Chola MS Zero Depreciation Add-On
| Age of Bike | Without Zero Depreciation add on | With 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 Bike | Without Zero Depreciation | With Zero Depreciation |
|---|---|---|
| Rubber/Nylon/Plastic parts | 50% | 0% |
| Fibre Glass Parts | 30% | 0% |
| Glass Parts | Nil | 0% |
Benefits of Chola MS Zero Depreciation bike Insurance Add-On
- This add-on offers full claim settlement without taking any depreciation of the replaced parts of the bikr.
- All the components made from plastic, rubber, fibre, and metal are included in this add-on.
- It reduces the out-of-pocket expenses of policyholders at the time of repairs.
- As all the replacement cost is covered, this add-on maintains the value of your vehicle.
- You can include this as an add-on to the standard comprehensive bike insurance plan.
- It can be availed multiple times in the policy period as per terms and conditions.
- You can also get expert support from Chola MS's reliable and customer-focused service.
What is Not Covered Under Cholamandalam Zero Depreciation Bike Insurance Policy?
Policyholders get several advantages with the Cholamandalam Zero Depreciation cover, but here are a few conditions apply:
- It's available only for bikes that are up to 5 years old.
- It doesn't cover total loss or mechanical and electrical failures.
- Regular wear and tear repairs or replacements aren't covered.
- You can file only two claims during the entire policy period.
FAQs
The Zero Depreciation cover can be taken by anyone who wants to recover the maximum claim amount. However, this is highly useful in the case of:
- New bike owners
- Less experienced riders
- Owners of luxury or high-end bikes
- People living in areas with a higher risk of accidents
You can add the Zero Depreciation cover to your policy in several ways:
- Visit the official website
- Call the toll-free number: 1800 208 554
- Visit a nearby branch
- This cover can be added when you buy, renew, or during the middle of your comprehensive bike insurance policy.
Yes, you need to renew the Zero Depreciation coverage every time you get your comprehensive bike insurance renewed. It will make sure that your bike is still eligible for this cover.
No, this facility of Zero Depreciation cover is only available for bikes that are not older than 5 years. If your bike is older than that, this cover is not available.
You are allowed to make only a maximum of two claims in the entire policy period under the Zero Depreciation cover.
Compare & Save Upto 90%. Get Bike Insurance Starting at ₹457/Year*
By clicking on You, Agreed to our Privacy Policy & Terms of use & *Disclaimer
Avarage Ratting
Insurance NewsTwo Wheeler Insurance Articles
Tips to Reduce Your Two Wheeler Insurance Premium in 2025
Buying a two-wheeler gives you freedom and comfort, but the insurance premium can sometimes
Read More
What is the Impact of Seasonal Weather on Two-Wheeler Insurance Claims
Have you ever noticed how the weather can affect your daily ride? If it is heavy rain,
Read More
Different Type of Bike Tyres
Choosing the right bike tyre is essential for a smooth and safe ride.
Read More
Non-Electrical Accessory Add-On in Bike Insurance
When you buy a bike, you might add extra parts like fancy seat covers, alloy wheels,
Read More
Scooter vs Motorcycle Which is the Better Choice for Daily Commuting
If you are someone willing to buy a two-wheeler in 2025, a question may have crossed your
Read More