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HDFC ERGO Zero Depreciation Bike Insurance Add-On
HDFC ERGO Zero Depreciation Bike Insurance Add-on ensures you get full claim benefits without any deductions for your bike's depreciation. It covers the full cost of replacing damaged bike parts, like plastic, rubber, or metal, at the time of a claim. This means you won't have to pay out of pocket for the depreciation value. It’s a great way to save money and keep your bike fully protected.
Benefits of HDFC ERGO Zero Depreciation Bike Insurance Cover
Here are the key benefits of choosing HDFC ERGO Zero Depreciation Bike Insurance:
- 01
Full Claim Amount
Unlike regular insurance, this add-on ensures you get the full cost of damaged parts replaced, without deducting for depreciation.
- 02
Save Money
It helps you avoid big expenses on repairs by covering more of the costs and keeping your finances stable.
- 03
Value for Money
While it may seem costly at first, the higher payouts make it a smart and affordable option in the long run.
- 04
Stress-Free Riding
This cover protects you from financial worries in case of accidental damage, letting you enjoy a worry-free ride.
Bike Insurance Plans By HDFC Ergo
Depreciation Rate of Bike - Without and With HDFC ERGO 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% |
Disclaimer: The given depreciation rates in above tables are indicative. Check your policy document to get exact terms and conditions.
What’s Covered and Not Covered Under HDFC ERGO Zero Depreciation Insurance
Here’s a simple breakdown of what is included and excluded in HDFC ERGO Zero Depreciation Bike Insurance:
What's Covered
Full coverage for parts like rubber, nylon, fiberglass, and plastic.
You get the full claim amount based on the highest Insured Declared Value (IDV).
If you don’t already have this cover, you can add it as a top-up.
What's Not Covered
Bikes older than five years are not eligible for this cover.
Normal wear and tear of bike parts are not included.
Some parts like fuel kits, gas kits, and tyres are not covered.
FAQs
It is an add-on insurance that gives you the full claim amount without reducing money for the age or wear of your bike parts.
It covers parts like plastic, rubber, nylon, and fiberglass that usually lose value over time.
No, this cover is usually available only for bikes that are up to five years old.
Yes, it is an add-on cover, so you need to pay a little extra to include it in your policy.
It saves you money on repairs and ensures you get the full claim amount, giving you peace of mind in case of damage or accidents.