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SBI Zero Depreciation Cover

The value of a bike decreases with time. This loss of value is considered by the insurance companies at the time of claim settlement and an amount gets deducted as depreciation charge from the claim amount. To prevent this deduction, the policyholders can opt for Zero Depreciation add-on along with the comprehensive and standalone own damage bike insurance policy. The SBI comprehensive bike insurance policy offers Zero Depreciation cover to prevent the charge of any depreciation cost from the claim amount.

A Zero Depreciation Cover can be opted with SBI comprehensive bike insurance policy as well as the SBI standalone own-damage bike insurance policy. This add-on ensures that the depreciation charge of the insured’s bike does not get deducted from the claim amount.

Benefits of SBI Zero Depreciation Add-on Cover

SBI Zero depreciation add-on cover offers the following benefits to its customers:

  • Higher claim: With Zero Depreciation add-on added to the comprehensive bike insurance policy, no depreciation charge gets deducted from the claim money. It ensures the policyholders to enjoy the maximum claim amount without any additional expense due to depreciation.
  • Helps save money: The policyholder can enjoy extensive coverage with a slight increase in premium by adding Zero Depreciation cover. With this add-on, the insurer bears the expense of repairing and replacing the depreciated parts of the insured’s bike.

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%

Fibreglass parts

30%

0%

Glass parts

Nil

0%

Factors Affecting SBI Zero Depreciation Cover

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

  • You can claim this cover only twice in the entire policy period.
  • The repair and replacement due to common wear and tear are not covered.
  • The Zero Depreciation cover can be availed by bikes with a maximum age of 2 years.
  • No coverage is provided in cases of a total loss, mechanical and electrical breakdown of the bike.

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Must Read Articles before buying Sbi Bike Insurance

SBI Bike Insurance User Reviews

5.0
Rating based on
109 User reviews
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What users are saying
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  • Great Experience

    My experience with InsuranceDekho has been great so far. Last week only I was able to get my claim settled with their help. I used it to cover for the expenses of my bike’s brakes replacement from my SBI bike insurance policy.

    Read More

    V
    By Vivek Raj
    On: June 18, 2024
  • Amazing Customer Support

    I had to renew my SBI bike insurance and was unable to understand some things mentioned in the documents. So, I took InsuranceDekho’s help, who were very helpful. They explained me everything required to renew my policy. I’m grateful for their support and guidance.

    Read More

    M
    By Megha Sinha
    On: June 17, 2024
  • Convenient Access Nationwide

    I have been relying on Insurancedekho for my bike insurance needs. I bought SBI Bike Insurance, their customer support has been super helpful and their handling of claims has been awesome. Kudos to the team for their excellent service!

    Read More

    C
    By Christina Castelino
    On: June 4, 2024
  • Supportive team

    Just got my SBI General two-wheeler insurance through InsuranceDekho, and their team was amazing! They guided me through everything and gave great suggestions. Really happy with their service!

    Read More

    S
    By Sonam Mehta
    On: April 12, 2024
  • Super easy site

    Nice experience tried for the first time but better than the insurance the vehicle showrooms gives us. happy with the interface they made for the user and easy to use site.

    Read More

    S
    TVS NTORQ 125 Indore
    By SATISH SADASHIV SHIGVAN
    On: June 4, 2022
  • Blazing Fast

    The ease of selecting the policy of your choice from various insurers along with the list of prices available was fantastic. Helped me buy my first insurance policy in no time. Looking forward for a good experience in future with INSURANCE DEKHO.

    Read More

    K
    Hero Maestro Moga
    By KUSHAL GARG
    On: May 19, 2022
  • good job guys

    great experience and fast outputs in terms of high end bikes too, very rare to find such good value policy in such a price.

    Read More

    R
    Harley-Davidson Harley Davidson Street 750 Kolkata
    By RAGHAV RANDAR
    On: May 9, 2022
  • good serves

    best insurence company good servis

    Read More

    M
    Bajaj CT100 Bangalore
    By MONAPPA
    On: April 19, 2022
  • Super Service

    Hasle free system devised by the Service provider, M/s Insurance Dekho rendered my renewal policy smooth and Effective I am very much thankful to team Insurance Dekho for making things so simple and fast.

    Read More

    J
    Honda CB Unicorn 150 Bangalore
    By JAYARAM H
    On: April 8, 2022
  • Good interface and sync with s...

    Very smooth and seamless experience. Not much time taken. All the information was captured and details of premium was also provide very nice.

    Read More

    D
    TVS Jupiter Thane
    By DOMINIC BRAZIL FERNANDER
    On: April 4, 2022
Sbi Reviews

SBI Zero-Depreciation Add-on Cover FAQs

  • Who should opt for the Zero Depreciation Cover?

    The Zero Depreciation add-on can be opted by any bike owners to avoid the depreciation charge and the expense of repairing or replacing bike parts. However, it is best suited for the following:

    • Luxury bike owners
    • New or inexperienced drivers.
    • For those driving in accident-prone zones.

  • Does the Zero Depreciation cover provide for fibre glass parts of bikes?

    Yes, the Zero Depreciation provides coverage for the fibre glass parts of the insured bike. The rate of depreciation for fibre glass parts without the Zero Depreciation is 30%. But with the Zero Depreciation cover, no depreciation charges are deducted.

  • Can I add the Zero Depreciation cover during the renewal of my policy?

    Yes, you can add the Zero Depreciation cover at the time of renewal along with the comprehensive bike insurance policy.

  • Do I receive the full claim amount if I opt for Zero Depreciation cover?

    Adding Zero Depreciation cover ensures maximum claim by eliminating the depreciation factor. However, you do not receive the full claim amount as the deductibles will be factorized at the time of claim settlement.

  • How do I calculate the depreciation on my bike?

    You can calculate the depreciation charge applicable on your bike with the above-mentioned depreciation charges table. You may also call on the toll-free number of SBI General Insurance (1800-102-1111) or visit the nearest branch to get further assistance.

FAQ
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