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 Read More

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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.

Cholamandalam Third Party Comprehensive Standalone Own Damage Zero Depreciation Claim Renewal Premium Calculator Policy Download Customer Care

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 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.

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 bike.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.