Zero depreciation bike insurance

Zero depreciation bike insurance means that the insurance company does not consider the bike's or the scooter's depreciation. Your bike's Insured Declared Value (IDV) is as good as a new vehicle. A zero depreciation bike insurance offers comprehensive insurance on the bike without considering the depreciation of the bike/scooter. If you meet with an accident, you will get all the repair amount without considering any bike depreciation. To sum it up, zero dep insurance for bike ensures a better claim for the bike's damages and reduces your out-of-pocket expenses to a minimum.

The depreciation in bike insurance means that the value of the parts of the bike go down with time. As the parts are consumed, the value of the parts start to go down and the insurance company factors in the value of the parts at the depreciated value. But if you buy a zero depreciation insurance cover, the value of the parts will not be affected. Consumables like nylon, rubber, batteries, etc. are depreciated at 50% usually. The glass materials and fiberglass are depreciated at 30% usually. All other glass parts are usually not depreciated in value.

The factors are:-

1. The bike should not be more than five years old.

2. Only the bike parts are covered under zero depreciation.

3. The Bike insurance premium is higher for zero depreciation cover. Therefore, you should purchase zero depreciation cover only if you can afford to pay a higher premium.

4. If you have a luxury bike, zero depreciation cover is preferred, as spare parts are usually expensive.