Oriental Zero Depreciation Bike Insurance Add On

Over time, a bike loses its value. Insurance companies take this loss into account and reduce the claim amount when you make Read More

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You can avoid this deduction by adding a Zero Depreciation cover to your comprehensive or own-damage bike insurance. Oriental General Insurance offers Zero Depreciation cover at a low cost.

With Zero Depreciation cover, the claim amount is paid without reducing for the bike’s value loss. This means you get the full claim amount for your repairs or replacement.

Oriental Third Party Comprehensive Standalone Own Damage Zero Depreciation Claim Renewal Policy Download Customer Care

Benefits of Oriental Zero Depreciation Add-On Cover

Here are some benefits of choosing a zero depreciation add-on cover in your Oriental bike insurance plan:

01
It gives you the full claim amount
You get the full claim money without any deduction for the bike’s loss in value over time.
02
It covers repairs and replacements
All costs for repairing or replacing damaged bike parts are fully covered. You don’t have to pay out of your pocket.
03
It saves money
This add-on helps you avoid paying depreciation costs, saving you money during claim settlement.
04
It gives better protection
Your bike’s value is fully protected, so you don’t lose money if it needs repairs or part replacements.
05
It offers peace of mind
You can ride without worry because this add-on protects you from unexpected expenses and gives you financial security.

Depreciation Rate of Bike - Without and With Oriental 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.

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What is Covered and Not Covered in Oriental Zero Depreciation Add-On Cover

What it Covers

Parts Coverage
Covers damage to parts like nylon, rubber, fiberglass, and plastic.
Repair/Replacement Costs
Pays fully for repairing or replacing damaged parts.
Battery and Tyres
Partial damage to the battery and tyres is also covered without reducing for depreciation.
Policy Upgrade
You can add this cover when buying a new policy or renewing your old policy.

What Does it not Cover

Mechanical Issues
Damage caused by mechanical or electrical failure is not covered.
Wear and Tear
Normal aging or wear and tear of the bike is not covered.
Total Loss
Complete damage or total loss of the bike is not covered under this add-on.
Uninsured Items
Items like tyres, gas kits, or CNG kits are not covered if they are not included in your policy.

Note: Always check your policy documents to know the exact coverage.

Factors That Affect Oriental Zero Depreciation Bike Insurance Add-On Cover

Some things can affect how much benefit you get from the Zero Depreciation Add-On:

Age of the bike
The bike should not be older than 2 years.
Number of claims
You can make up to 2 claims in a policy year, but you should check the claim limits.
Repairs and replacement
Normal repair or replacement due to regular use (maintenance) is not covered.
Claim limits
If the bike is completely damaged or has a total mechanical/electrical failure, this add-on will not cover it.