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New India Zero Depreciation Cover

The depreciation in the value of the bike and its parts are taken into account at the time of claim settlement. The claim amount is determined after deducting the depreciation charge and the deductibles. To prevent the deduction of the depreciation factor, the policyholder may opt for a Zero Depreciation cover. New India Assurance Zero Depreciation cover helps the policyholders to avail the maximum claim amount by preventing the deduction of the depreciation charge.

New India Assurance Zero Depreciation cover along with standalone own damage and comprehensive bike insurance policy assures maximum claim amount without factorizing the depreciation charges. It provides the facility of free of cost repair and replacement of the depreciated parts of the insured’s bike.

Benefits of New India Zero Depreciation Add-On Cover

You can enjoy the following benefits with zero depreciation add-on cover offered by the New India Assurance Company:

  • Higher claim - The policyholders opting for the Zero Depreciation enjoy a higher claim on the assured amount as the insurer does not deduct any charges for the depreciation in the value of the insured’s bike. It ensures the policyholders to enjoy the maximum claim amount.
  • Saves money - A slight increase in premium amount due to Zero Depreciation cover helps to save the expenses on the repair and replacement of the depreciable bike parts such as rubber, metal, plastic, nylon, fibre etc.

Depreciation Rate Applicable on Bike With And Without Zero Depreciation Add-on

Age of bike

Rate of Depreciation Without Zero Depreciation cover

Rate of Depreciation With Zero Depreciation cover

Under 6 months

Nil

0%

6 months to 1 year

5%

0%

1-2 years

10%

0%

2-3 years

15%

0%

3-4 years

25%

0%

4-5 years

35%

0%

5-10 years

40%

0%

Above 10 years

50%

0%

Part of bike

Rate of Depreciation Without Zero Depreciation

Rate of Depreciation With Zero Depreciation

Rubber/nylon/ plastic parts

50%

0%

Fibre glass parts

30%

0%

Glass parts

Nil

0%

Factors Affecting New India Zero Depreciation Cover

To avail the benefits of New India Assurance Zero Depreciation cover, You need to abide by some of the conditions mentioned below:

  • The Zero Depreciation cover can be availed only if the age of bike does not exceed 2 years.
  • This cover can be claimed only twice in the entire policy period.
  • This does not cover normal wear and tear.
  • The insurer does not cover total loss, mechanical and electrical breakdown of the bike.

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Must Read Articles before buying New India Bike Insurance

New India Bike Insurance User Reviews

4.8
Rating based on
481 User reviews
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What users are saying
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  • Effortless Claims Settlement

    I had to make a claim for the New India Bike Insurance Policy after my Bajaj bike was damaged. The claims settlement process was incredibly efficient and hassle-free. InsuranceDekho ensured I got back on the road quickly.

    Read More

    S
    By Subhash Chaudhary
    On: November 22, 2023
  • Ideal for Exploring Policy Opt...

    The premium calculator on InsuranceDekho is ideal for exploring different policy options. With the New India Bike Insurance Policy, I was able to experiment with various coverage levels for my Bajaj bike to find the right balance between protection and cost.

    Read More

    By Akash Dholakia
    On: November 16, 2023
  • All-in-One Protection at Its B...

    InsuranceDekho's comprehensive coverage is like an all-in-one package for bike protection. The New India Bike Insurance Policy covers everything from accidents to natural disasters, making it the best choice for my Kawasaki bike.

    Read More

    By Suresh Dahia
    On: October 30, 2023
  • All-in-One Protection with Ins...

    InsuranceDekho's Comprehensive Car Insurance is an all-in-one protection package. The New India Bike Insurance Policy is a one-stop solution for all my Triumph bike’s insurance needs, offering coverage for every scenario.

    Read More

    M
    By Mayank Gupta
    On: October 18, 2023
  • Responsible Driving Encouragem...

    I recently bought the New India Bike Insurance Policy from InsuranceDekho's third-party and the coverage encourages responsible driving by ensuring that my Yamaha bike have good coverage, promoting safer roads.

    Read More

    P
    By Pankaj Kumar
    On: October 16, 2023
  • Trustworthy and Reliable Cover...

    I recently updated my New India Bike Insurance Policy and added InsuranceDekho's own damage coverage to my Jawa bike. T]It is completely trustworthy and reliable. I feel secure knowing I have them as my insurance provider.

    Read More

    M
    By Mihir Manral
    On: September 27, 2023
  • Affordable Renewal Options

    I found the renewal options from InsuranceDekho to be affordable without compromising on coverage for the New India Bike Insurance Policy. They make it easy to renew without breaking the bank. I'm happy with the value they provide for my Kawasaki bike.

    Read More

    A
    By Abhijeet Toor
    On: September 25, 2023
  • Top-Notch Service During Claim...

    I want to express my gratitude to InsuranceDekho for their top-notch service during my claim for the New India Bike Insurance Policy. They went above and beyond to assist me with my Yamaha bike.

    Read More

    M
    By Manu Kalra
    On: September 21, 2023
  • Prompt Renewal Reminders

    InsuranceDekho sends timely renewal reminders, making it easy to keep my New India Bike Insurance Policy’s third-party coverage up to date for my Jawa bike. It's a helpful service.

    Read More

    S
    By Shirish Kota
    On: September 14, 2023
  • Helpful Tool for Budget Planni...

    I was looking for a good policy for my Kawasaki bike and InsuranceDekho's premium calculator came out to be a helpful tool for budget planning for the New India Bike Insurance Policy. It allowed me to see how different factors affect my premium.

    Read More

    T
    By Taposh Rabeya
    On: September 12, 2023
New India Reviews

New India Assurance Zero-Depreciation Add-on Cover FAQs .

  • What are the factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover?

    The factors that decide the rate of increase in the premium amount for opting Zero Depreciation cover are as follows.

    • Age of the vehicle
    • Model or variant of the vehicle
    • Area of residence

  • Does New India Assurance Zero Depreciation provide free of cost repair of the depreciated bike parts?

    Yes, if you opt for the New India Assurance Zero Depreciation cover, then the insurance company provides free of cost repair of the depreciated bike parts up to 2 claims.

  • Is the Zero Depreciation cover available only for new bikes?

    New India Assurance Zero Depreciation cover is available for new as well as old bikes. However, the age of the bike should not exceed 2 years.

  • Which depreciable bike parts are covered under New India Assurance Zero Depreciation cover?

    New India Assurance Zero Depreciation cover provides coverage for the repair of the following bike parts:

    • Rubber
    • Nylon
    • Plastic
    • Fibreglass

  • Where can I get more information about the New India Assurance Zero Depreciation cover?

    You can get more information about New India Assurance Zero Depreciation cover

    • through their official website
    • By visiting the nearest branch
    • By calling on its toll-free number 1800 209 1415
FAQ
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