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Universal Sompo Zero Depreciation Cover

Reduction in the value of any bikes occurs over time. The insurer takes this reduction into account as a depreciation factor at the time of claim settlement and deducts a depreciation charge from the claim amount. The policyholders can avoid the depreciation charge by opting for Zero Depreciation cover along with a standalone own damage or a comprehensive bike insurance policy. Universal Sompo Zero Depreciation cover enables the policyholder to claim the maximum amount irrespective of the depreciation charges.

Universal Sompo Zero Depreciation add-on provides the facility of free of cost repair and replacement of the depreciable parts of the insured’s bike at the network garages spread all over India.

Benefits of Universal Sompo Zero Depreciation Cover

  • Avail maximum claim amount: With the Zero Depreciation cover added to the comprehensive or standalone own damage bike insurance policy, policyholders can claim the maximum assured sum without factorizing any depreciation charge.
  • Helps save more money: The Universal Sompo Zero Depreciation add-on provides protection against depreciation and damages caused to the depreciable bike parts. The policyholders save up the expenses of the repair and replacement of the depreciable 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%

Fibre glass parts

30%

0%

Glass parts

Nil

0%

Factors Affecting Universal Sompo Zero Depreciation Cover

To avail the benefits of Universal Sompo Zero Depreciation cover, you need to abide by 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 5 years
  • No coverage is provided in cases of a total loss, mechanical and electrical breakdown of the bike.

Explore Universal Sompo Bike Insurance

Must Read Articles before buying Universal Sompo Bike Insurance

Universal Sompo Bike Insurance User Reviews

4.8
Rating based on
253 User reviews
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What users are saying
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  • Quick response on the chat box

    InsuranceDekho's website provides a chat box feature to its users. I bought the Universal Sompo bike insurance plan for my Kawasaki Ninja 650. In the buying process, I was facing some issues so I used the chat box feature available on the website. I got quick responses and all my questions were answered with immediate effect. The plan is amazing and comes with many benefits. Happy with the purchase.

    Read More

    D
    By Devesh Arya
    On: February 20, 2023
  • Customer care service

    While buying the Universal Sompo bike insurance plan for my Aprilia storm 125 from the InsuranceDekho website I faced some problems for which I contacted customer care service, and the executive immediately resolved all my issues. The plan comes with amazing benefits.

    Read More

    T
    By Tarun Yadav
    On: February 16, 2023
  • Option to choose from differen...

    I just bought a Universal Sompo own damage bike insurance policy from InsuranceDekho for my BMW F650 bike. The payment was completely secured and the website allowed me to pay the premium from different payment gateways. I choose to make the payment through my Credit card.

    Read More

    M
    By Mankirat Singh
    On: February 9, 2023
  • Rapid generation of quotes

    On InsuranceDekho, the generation of insurance quotes for my Yamaha Saluto was quick. I just had to enter the needed details like the bike's fuel type, MMV and the extent of the plan. In just a few seconds, I had found various quotes. I opted for Universal Sompo bike insurance plan.

    Read More

    S
    By Srinivas Gupta
    On: January 31, 2023
  • Price Comparison

    I checked InsuranceDekho. It was so easy to choose a plan as the website had all the plans elaborated in an amazing way. I bought a Universal Sompo bike insurance plan which is nice in accordance with my preferences for my Aprilia Sr 160.

    Read More

    S
    By Samar Raj
    On: January 24, 2023
  • Well managed website

    The InsuranceDekho website is very well managed and maintained. All the things are arranged properly. While buying the Universal Sompo, for my Hero Pleasure Plus, it was very easy to locate everything that I wanted on the website.

    Read More

    H
    By Harsh Gupta
    On: January 3, 2023
  • Best customer care team

    The customer care service of the InsuranceDekho website is amazing. While buying the Universal Sompo bike insurance plan for my Hero Pleasure Plus, I had some doubts regarding the plan, I contacted customer care service and they cleared all my doubts and queries.

    Read More

    S
    By Shraddha Gupta
    On: October 13, 2022
  • Amazing customer care service

    The InsuranceDekho website has the best customer care service. I recently bought the Universal Sompo bike insurance plan for my Hero Electric Optima DX, I had some queries regarding the plan, so I contacted customer service and got all my queries resolved. Thanks to the team.

    Read More

    By Sushant Kapoor
    On: July 26, 2022
  • Amazing customer care service

    The InsuranceDekho website has the best customer care service. I recently bought the Universal Sompo bike insurance plan for my Hero Electric Optima DX, I had some queries regarding the plan, so I contacted customer service and got all my queries resolved. Thanks to the team.

    Read More

    S
    By Sushant Kapoor
    On: July 22, 2022
  • Quick response on the chat box

    InsuranceDekho's website provides a chat box feature to its users. I bought the Universal Sompo bike insurance plan for my Kawasaki Ninja 650. In the buying process, I was facing some issues so I used the chat box feature available on the website. I got quick responses and all my questions were answered with immediate effect. The plan is amazing and comes with many benefits. Happy with the purchase.

    Read More

    D
    By Devesh Arya
    On: July 12, 2022
Universal Sompo Reviews

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Universal Sompo Zero-Depreciation Add-on Cover FAQs

  • Can I get Zero Depreciation along with the third party insurance policy?

    You can avail the Zero Depreciation cover only with the Universal Sompo comprehensive and standalone own damage bike insurance policies. The third party bike insurance policy does not offer Zero Depreciation or any other add-ons.

  • 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.

  • 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’s 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.

  • Do I have to renew the Zero Depreciation cover each time I renew my policy?

    Yes, you will have to renew the Zero Depreciation cover each time you renew your comprehensive policy. However, you can pay the complete premium of your policy along with the Zero Depreciation cover at the time of purchase. It will free you from the hassle of renewal.

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

    Universal Sompo Zero Depreciation cover is available for new as well as old bikes. However, the age of the bike should not exceed 5 years.

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