IFFCO Tokio Zero Depreciation Bike Insurance

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Zero depreciation add-on, also called bumper-to-bumper , is a coverage add-on with two-wheeler insurance policies. IFFCO Tokio zero depreciation two-wheeler insurance offers coverage for the damage without considering the depreciation cost of the two-wheeler. The policyholder will receive full coverage for all the parts of a two-wheeler, including rubber parts, fiber parts, and other metal parts, without accounting for the depreciation cost.

How does IFFCO Tokio Two Wheeler Insurance with Zero Depreciation Cover Work?

One among the most popular add-ons offered by IFFCO Tokio bike insurance is zero depreciation. The policyholder can purchase this add-on along with the purchase of a comprehensive or a standalone policy.

With time, the value of your assets tends to decrease. Such a phenomenon is called depreciation. Every two-wheeler owner knows well that normal wear and tear is unavoidable. IFFCO Tokio offers zero depreciation add-on through which the insurance-holders can claim their two-wheeler’s maximum value. It works as a shield against the depreciating factors and helps you claim the original value of your bike in case of a mishap or accident.

Benefits of IFFCO Tokio Zero Depreciation Add-on Cover

The IFFCO Tokio zero depreciation add-on cover provides the benefits mentioned below, to its customers:

  • Complete Coverage of the Bike - It becomes convenient for the policyholders to settle down their claim when there is no need to worry about the depreciation. They can claim the complete insurance amount without having to pay the compulsory deductibles.
  • Number of Claims - IFFCO Tokio offers policyholders to claim the zero dep cover 2 times as they want.
  • Higher Claim Amount – Since there is no reduction in the claim amount, the policyholders naturally get a higher claim amount.
  • Helps Save Money - Policyholders can lay by a lot of money with the zero depreciation add-on purchase. They need to pay the premium amount only, and the insurance provider takes care of all the damages.

Depreciation Rate Applicable on Two Wheeler With and Without Zero Depreciation Add-on

AspectsDepreciation Rate With Zero Depreciation Add-onDepreciation Rate Without  Add-on
Below 6 monthsNilNil
6 months - 1 yrNil5%
1 - 2 yrsNil10%
2 - 3 yrsNil15%
3 - 4 yrsNil25%
4 - 5 yrsNil35%
5 - 10 yrsNil40%
Above 10 yrsNil50%
Part of the BikeDepreciation Rate With Zero Depreciation CoverDepreciation Rate Without Zero Depreciation Cover
Rubber/plastic/nylon partsNil50%
Parts made of fiberglassNil30%
Parts made of glassNilNil

What is Covered Under IFFCO Tokio Two Wheeler Insurance Policy With Zero Depreciation Cover?

Suppose you have added the zero depreciation cover to your existing base policy. In that case, when you file a claim seeking coverage for the damages caused to your two-wheeler in an accident, you will receive the complete claim amount. The insurance provider won’t be deducting the depreciation cost of your vehicle.

With this add-on, you can get compensation for parts such as rubber, fiberglass, plastic and nylon parts of the vehicle. Compensation for repair and replacement parts of the vehicle are included. You can avail this add-on during the renewal and purchase process.

What is not Covered Under IFFCO Tokio Two Wheeler Insurance Policy With Zero Depreciation Cover?

  • The  IFFCO Tokio zero depreciation bike insurance does not cover engine damage caused due to water ingression or oil leakage. 
  • A mechanical breakdown is not covered.
  • An oil change or consumables are also not covered by this insurance policy.

Factors Affecting IFFCO Tokio Two Wheeler Insurance Zero Depreciation Cover

The conditions under which the policyholders can avail of the benefits offered by IFFCO Tokio zero depreciation insurance are stated below:

  • The policyholders can make 2 claims during the entire period of the policy.
  • The depreciation benefit provided by IFFCO Tokio is only available for two-wheelers up to 5 years of age.
  • This add-on can be purchased if you have comprehensive or standalone OD bike insurance.

How to Buy IFFCO Tokio Two Wheeler Insurance Zero Dep Cover?

You can buy an IFFCO Tokio zero dep cover policy in two ways explained below: 

1. Visit Your Nearest IFFCO Tokio Branch: You may visit your nearest IFFCO Tokio branch office to buy or renew a motor insurance policy. To do the same, you must carry all the necessary documents in your vehicle. 

2. Buy IFFCO Tokio Zero Dep Two Wheeler Insurance Policy Online: Buying the bike insurance policy is the most preferred, hassle-free, and user-friendly procedure. The whole procedure requires minimum documentation and can be done within a few minutes. You can also compare various policy options on various third-party insurance portals to discover which insurance companies offer you the best coverage at a reasonable price. 

IFFCO Tokio Two Wheeler Insurance Zero Dep Cover Review

It saves a lot of money on repairs. Hence it is quite affordable for policyholders. It reduces the burden on the policyholder whenever he/she wants a claim settlement. The buying procedure is quick and easy.

IFFCO Tokio Zero Depreciation Bike Insurance FAQs

  • 1. Does IFFCO Tokio zero dep cover offer 24*7 road assistance?

    No, IFFCO Tokio zero dep cover doesn’t offer 24*7 road assistance.

  • 2. Does IFFCO Tokio two-wheeler zero dep insurance provide a cashless claim policy?

    Yes, to ensure maximum convenience for policyholders, the cashless network of IFFCO Tokio two-wheeler insurance across India offers easy claims settlement assistance services. Policyholders can choose their preferred mode of payment (online and offline) and enjoy hassle-free facilities.

  • 3. Can I exclude IFFCO Tokio zero dep add-on from my bike insurance policy?

    Yes, you can exclude this add-on from your IFFCO Tokio bike insurance policy at the time of policy renewal.

  • 4. Does IFFCO Tokio zero depreciation two-wheeler insurance policy cover accidents and damages caused outside the geographical area specified in the policy registration document?

    No, the zero depreciation policy does not allow this. 

  • 5. Can you change your IFFCO Tokio policy details?

    Yes, you are able to do so by filing an endorsement with the policy insurer.

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