National Insurance Zero Depreciation Bike Insurance Add-On

When a bike gets older, its value goes down. This loss in value is called depreciation. During a claim, the insurance company usually Read More

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With this cover in a National comprehensive bike insurance policy, the insurer does not reduce the claim amount due to depreciation. It pays the full cost of repairs and parts replacement. So, when you add Zero Depreciation cover to your bike insurance, you get a higher claim amount and do not have to pay extra from your pocket.

National Third Party Comprehensive Standalone Own Damage Zero Depreciation Claim Renewal Policy Download

Benefits of National Insurance Zero Depreciation Bike Insurance

Here are the main benefits of buying National Insurance Zero Depreciation Bike Insurance:Higher claim amount No money is cut for depreciation, so you get more claim money.Full cost for parts The full price of parts like plastic, rubber, and fibre is covered.Less money from your pocket You pay less for bike repairs after an accident.Good for new bikes Best for new or costly bikes with expensive parts.Easy and stress-free repairs Claims are simple and smooth.Helpful in city traffic Covers small damages that happen often in heavy traffic.Low extra cost Gives strong protection for a small extra premium.

Depreciation Rate of Bike - Without and With National Insurance 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.

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%

Inclusions of National Insurance Zero Depreciation Bike Insurance

Here is what National Insurance Zero Depreciation Bike Insurance covers:Pays the full repair or replacement cost without reducing for depreciationCovers plastic, rubber, and fibre parts at full valueCovers damage from accidents, fire, theft, and natural disastersAllows cashless repairs at 3,500+ National Insurance network garagesReduces the money you need to pay from your own pocket during claims

Exclusions of National Insurance Zero Depreciation Bike Insurance

Here is what is not covered:Total loss or theft claims are settled as per the bike’s Insured Declared Value (IDV)Damage caused while riding under the influence of alcohol or drugsRiding the bike without a valid driving licenceNormal wear and tear or mechanical/electrical breakdownTyres, tubes, nuts, bolts, and consumables, unless specifically includedMandatory deductibles that must be paid by the policyholder

Factors Affecting the Zero Depreciation Cover of National Bike Insurance

Here are the main points about what affects the Zero Depreciation cover in National Insurance Bike Insurance:You can use the zero depreciation benefit only twice in one policy year.Only bikes up to 2 years old are eligible for zero depreciation cover.Normal wear and tear of the bike is not covered under zero depreciation.Total loss of the bike is not covered by the zero depreciation add-on.