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Add-Ons for Customization
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.
Bike Insurance Plans By Oriental
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.
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.