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Bharti AXA Zero Depreciation Bike Insurance
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A zero depreciation cover is a safety net for vehicle owners. This cover does not consider the depreciation suffered by a vehicle over time. Every vehicle goes down in value with time, pertaining to depreciation. This depreciation is not covered in claims with other types of policies. In the zero dep cover, depreciation is also included in the insurance claim by the insurance company.
A Bharti AXA zero depreciation bike insurance cover would take care of the vehicle's depreciated value so that you do not have to pay anything out of your own pocket. It acts as an add-on cover over a base policy. Let us know more about this cover in details.
How does Bharti AXA Two Wheeler Insurance Zero Depreciation Cover Work?
Depreciation is a natural process. Every vehicle goes through the process of depreciation, which decreases its value with time. At the time of claim settlement, the insurer would not cover the vehicle's depreciated value. If you buy this add-on cover, the insurer will reimburse the total expenses incurred during an accident or mishap.
A Bharti AXA 0 dep bike insurance cover aids you in times when you are financially overwhelmed with damage expenses and are not in a place to pay for the additional depreciation costs of the vehicle. You would receive the complete reimbursement of the damages, including the depreciation.
Benefits of Bharti AXA Two Wheeler Insurance Zero Depreciation Add-on Cover
Following are the benefits of the zero depreciation on Bharti AXA bike insurance cover:
- Takes care of complete expenses incurred by damages.
- Easy to buy online.
- Can be purchased as an add-on over the base policy.
- Would enhance the coverage of your two-wheeler.
- You would not have to bear expenses relating to the depreciated value of your bike.
- Zero dep cover premiums are also not significantly high. Therefore, you would not have to pay hefty charges to acquire additional coverage.
- Claim settlement becomes easier as you have the peace of mind raising damage claims on your vehicle.
- Financial liabilities borne by the policyholder are lessened due to this add-on.
Depreciation Rate Available on Bike With and Without Zero Depreciation Cover
The following table shows the depreciation rate on a bike with and without a zero depreciation cover in place:
| Bike’s Age (in years) | Depreciation Rate Without Zero Depreciation Cover | Depreciation Rate With Zero Depreciation Cover |
| Less than 1 | 5% | 0% |
| 1-2 | 10% | 0% |
| 2-3 | 15% | 0% |
| 3-4 | 25% | 0% |
| 4-5 | 35% | 0% |
| 5-10 | 40% | 0% |
| 10+ | 50% | 0% |
| Bike Parts | Depreciation Rate With Zero Depreciation Cover | Depreciation Rate Without Zero Depreciation Cover |
| Rubber/ Nylon/ Plastic parts | 0% | 50% |
| Fiberglass parts | 0% | 30% |
| Glass parts | 0% | Nil |
What is Included in a Bharti AXA Two Wheeler Insurance Policy With Zero Depreciation Cover?
The Bharti AXA two-wheeler zero depreciation cover has the following inclusions:
- Own damages incurred by the two wheeler insurance policyholder
- The depreciated value of the bike
- Nylon, rubber, and plastic bike parts would be covered under the zero dep insurance add-on.
What is Excluded in a Bharti AXA Two Wheeler Insurance Policy With Zero Depreciation Cover?
The Bharti AXA two-wheeler zero depreciation cover has the following exclusions:
- Damages incurred by a bike that is more than 5 years old.
- Damages incurred due to driving under the influence of alcohol or drugs.
- Damages incurred by replacing certain parts of the vehicle, such as brake oil, clutch oil, etc., would not be covered under a zero dep cover.
- Damages due to driving without a licence.
- Damages due to driving without insurance.
- Damages incurred by illegal driving of the bike.
- Damages due to commercial use of a private bike.
- Mechanical and electrical breakdown incurred by the two-wheeler.
- Damages incurred outside of the registered geographical region.
Factors Affecting Bharti AXA Two Wheeler Insurance Zero Depreciation Cover
A Bharti AXA 0 depreciation bike insurance add-on cover is affected by the following factors:
- Age of the bike
- Model of the bike
- The geographical region where the bike has been registered.
- Cost of the base insurance policy that the policyholder has purchased before the zero dep add-on.
How To Buy Bharti AXA Two Wheeler Insurance Zero Depreciation Cover?
You can buy the zero dep cover by Bharti AXA online or offline. This is a straightforward way to ensure that your vehicle is secure against unnecessary expenses arising out of the depreciated value that decreases with time.
The below-mentioned steps must be followed for buying a Bharti AXA bike with zero dep cover:
- Visit the official website of the Bharti AXA motor insurance. For offline mode, you can visit your nearest Bharti AXA office.
- Collect the form and fill in your base policy and bike details.
- A list of add-ons will be offered for you to choose from.
- Choose the zero dep cover.
- Submit the necessary documents relating to your base insurance policy and your personal information paperwork.
- Make the payments and finalize all the other formalities.
- Collect the details regarding the add-on.
Bharti AXA Two Wheeler Insurance Zero Depreciation Cover Review
The Bharti AXA zero depreciation cover is an excellent option for buying an add-on for your base policy. This is because depreciation can rake up high costs, and paying that yourself could mean a lot of financial burdens. With Bharti AXA, you would receive prompt query resolution and 24/7 customer service. The company also provides complete information at the time of policy purchase and has full transparency toward its customers.
Add ons for your Two Wheeler Insurance
Bharti AXA Zero Depreciation Bike Insurance FAQs
1. Can I buy Bharti AXA zero dep cover over a third-party policy?
No, a third-party policy does not allow you to buy add-ons.
2. Does Bharti AXA zero dep add-on also cover expenses arising out of replaced parts?
Yes, a zero dep add-on would also reimburse the policyholder for replacing parts damaged in an accident.
3. I am a new driver. Should I opt for Bharti AXA zero dep policy for my two-wheeler?
As a new driver, buying a zero depreciation cover would be fruitful as there are more chances of accidents happening with a new driver driving a vehicle.
4. Are only vehicles that are less than 5 years old eligible for Bharti AXA zero dep cover?
Generally vehicles that are less than 5 years old are eligible for a zero dep cover. However, few companies offer the option to buy zero dep cover for older vehicles as well.
5. Is fuel type a factor that affects the premium of my Bharti AXA zero dep bike cover?
Yes, the fuel type used in your bike affects the premium of a zero depreciation bike cover.