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Add-Ons for Customization
Universal Sompo Zero Depreciation Bike Insurance Add-On
The value of a bike goes down as it gets older. When you make a claim, the insurance company reduces the claim amount because of this value loss. This reduction is called depreciation. You can avoid this deduction by buying Zero Depreciation cover, also known as (Nil Depreciation or Bumper-to-Bumper insurance), with your own-damage or comprehensive bike insurance. With Universal Sompo Zero Depreciation cover, you can get a higher claim amount without worrying about depreciation. This add-on covers the full cost of repair or replacement for parts that usually lose value over time. These repairs can be done at Universal Sompo’s network garages across India.
Why Choose Universal Sompo Zero Depreciation Add-on?
This add-on gives extra benefits to your bike insurance:Get Full Claim Amount
You do not lose money because of depreciation. The insurance pays the full cost to repair or replace damaged parts, even if your bike is old.
Save Your Money
Bike repairs can be costly. This add-on covers the full cost of parts, so you pay less from your own pocket.
Feel Stress-Free While Riding
You can ride your bike without worry. If an accident happens, repair costs are fully covered.
Depreciation Rate of Bike - Without and With Universal Sompo 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.
Coverage Under Universal Sompo Zero Depreciation Bike Insurance
What Is Covered
Full cost of parts
The insurance pays the full cost to replace parts like plastic, rubber, nylon, and fiber parts. No money is cut for depreciation.
Full repair cost
All repair costs for bike parts damaged in an accident are covered.
Some cost for tyres and battery
The insurance pays part of the cost to replace tyres and the battery.
What Is Not Covered
Mechanical or electrical problems
Damage due to breakdowns is not covered.
Normal wear and tear
Damage from daily use over time is not covered.
Modified accessories
Extra accessories or changes not mentioned in your policy are not covered.
Bike Insurance Plans By Universal Sompo
Factors That Affect Universal Sompo Zero Depreciation Bike Insurance
Some things decide how this cover works:Bike age Only bikes within a certain age can get this cover.Claim limit There may be a limit on how many times you can make a claim.Type of damage This cover mainly works for accident damage, not damage from daily use.Total loss If your bike is fully damaged and cannot be repaired, this cover may not apply.
FAQs
It is an extra cover that helps you get the full claim amount without any deduction for bike value loss.
It means the insurance company does not reduce the claim amount because your bike is old.
No. Breakdowns are not covered under this add-on.
No. It is optional, but it helps you save more money during claims.
You can buy it with own-damage or comprehensive bike insurance.