Bike Insurance 1149 views April 10, 2021

If you own a bike, you must purchase insurance for the same as it is mandatory as per the Motor Vehicles Act, 1988. The insurance market is flooded with various options, and we will help you shortlist the best plan for your two wheeler. The two most popular bike insurance covers in India are Zero Depreciation and Comprehensive Cover. In this article, we will tell you everything about zero depreciation and comprehensive two wheeler insurance. So, let’s read on!

Zero Depreciation Bike Insurance

The market value of the vehicle depreciates depending on its usage over the years. Under a basic bike insurance plan, insurers provide a claim amount to the policyholder after deducting the depreciation value of the bike. Zero Depreciation Two-Wheeler Bike Insurance cover is an add-on cover that provides coverage against depreciation at the time of claim.

Coverage Under Zero Depreciation Bike Insurance

The zero depreciation add-on cover offers coverage for bike components-

  1. Rubber, plastic, fiberglass, and only nylon parts
  2. Tyres and tubes
  3. Batteries
  4. All other parts of the bike made of glass

Exclusions from Zero Depreciation Bike Insurance

The following are the exclusions from zero depreciation bike insurance

  1. Any damages not covered under the policy
  2. Normal wear and tear
  3. Mechanical problems

Note – Terms and Conditions for Zero Depreciation Bike Insurance differ from one insurer to another. You can opt for a zero depreciation cover either at the time of buying vehicle insurance or at the time of renewal.

Comprehensive Bike Insurance

You can purchase a comprehensive bike insurance policy and get full coverage for your two-wheeler against third-party liability or own damage at an affordable premium. Comprehensive bike insurance protects you against –

  1. Accidents
  2. Theft
  3. Natural calamity
  4. Third-party liability
  5. Man-made disasters
  6. Compensation for damages caused during transportation by railways, roadways, waterways and airways
  7. Personal accident insurance cover

Compare Zero Depreciation vs Comprehensive Bike Insurance

Let’s compare zero depreciation vs comprehensive two-wheeler bike insurance cover on different factors such as premium amount, claim settlement to find the one you should go with.

ParticularsZero Depreciation Bike InsuranceComprehensive Bike Insurance
Premium AmountThis is an add-on cover, so you’ll need to pay an extra premiumUnder this cover, the premium amount is higher than third-party liability cover but lower than zero depreciation cover.
Claims SettlementThe claim is settled without taking account of the current bike depreciation rateYour bike depreciation rate will be considered while calculating the claim settlement
Age of the Insurance PlanZero depreciation cover provides coverage for up to 5 yearsComprehensive cover provides coverage up to 15 years
Bike RepairsUnder zero depreciation cover, the repair expenses of the bike also include repair expenses of glass parts, plastic parts, tyres and tubes, etcUnder a two-wheeler comprehensive insurance, you need to bear repair expenses of glass parts, plastic parts, tyres and tubes, etc. from your pocket

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