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Add-Ons for Customization
SBI Zero Depreciation Bike Insurance Add-On
Depreciation means your bike loses value over time because of age and regular use. When you make an insurance claim, the company usually cuts some money because of this value loss. So, you may have to pay part of the repair cost yourself. If you buy the SBI General Zero Depreciation Cover, the company does not charge money for depreciation. This means you can get the full claim amount.
Benefits of SBI General Zero Depreciation Add-On Cover
Here are the main benefits of buying a zero depreciation add-on cover in your insurance:Full Claim Amount
You can get the full insured amount without any depreciation deduction. This is very helpful when repair costs are high or bike parts need replacement.
Low Cost Add-On
This add-on is available at a low price. The benefits are more than the extra cost you pay.
Pay Less from Your Pocket
This cover helps you pay less during claim settlement. It protects you from getting a lower claim amount and gives extra financial safety.
Depreciation Rate of Bike - Without and With SBI 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% |
| FibreGlass 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.
Coverage Under SBI General Bike Insurance with Zero Depreciation Cover
What Is Covered (Inclusions)?Pays for parts made of plastic, rubber, nylon, and fiberglassCovers the cost of repairing or replacing damaged parts during a claimCovers partial damage to batteries and tyres without cutting money for depreciationWhat Is Not Covered (Exclusions)?Damage caused by mechanical problems or failuresDamage due to regular wear and tear over timeLoss of items that are not insured, like tyres, bi-fuel kits, or gas kitsDisclaimer: Please refer to your policy documents to know the exact coverage.
Bike Insurance Plans By SBI
FAQs
Zero depreciation means the insurance company does not reduce the claim amount because of the bike’s age or use.
No, it is not compulsory. It is optional, but very useful.
Yes. It helps you pay less from your own pocket during repairs.
Usually, this add-on is available for new and slightly older bikes. The exact age limit depends on SBI rules.
No. It comes at a low extra cost compared to the benefits it gives.
Yes. It is especially useful for new bikes and for people who want higher claim payouts.