National Zero Depreciation Bike Insurance

Starting at only ₹1.5 per Day*

Two wheeler Insurance banner image
Enter your details to buy Bike Insurance
By proceeding you agree to Terms & Conditions
Proceed without two wheeler number
  • compare buy
    Compare and buy at best price
  • instant policy
    Instant Policy Issuance
  • no unwanted calls
    No unwanted calls. We promise!
*T&C Apply *TP premium only

After the purchase of the product, it starts losing its value bit by bit. It is a gradual process and common with all the products. The same is also true for the vehicle. These insignificant losses can increase your problems at the time of the claim settlement. In insurance terms, this is referred to as vehicle depreciation. While settling the claim, the insurer does calculate the depreciation cost of the vehicle under the claim amount. Hence, this cost has to be borne by the policyholder. 

National Two Wheeler Insurance Zero Depreciation Cover

Zero Depreciation is not included in the base policy of any National bike insurance. However, it comes as an add-on cover with the National comprehensive and the standalone policy. There are two types of covers specifically curated by the National Insurance company, especially for the bike insurance holders. Both provide protection against the depreciation of the vehicles, if zero depreciation is added. 

Benefits of National Two Wheeler Insurance Zero/Nil Depreciation Add-on Cover

Following are the benefits of the National two-wheeler insurance zero/nil depreciation add-on cover: 

  • Allows Higher Claims:

Without National two wheeler insurance zero/nil depreciation add-on cover insurer will provide the claim amount after deducting the depreciation cost of the vehicle. However, you get to file for higher claims with this cover, and the insurer will have to pay the whole amount to you. 

  • Additional Savings:

By purchasing this National two-wheeler insurance zero/nil depreciation add-on cover, you may have to pay a slight increase in the premium amount. Premiums are the monthly installments you pay to the insurer for the benefits. This slight increase does not appear to be a burden on you. The increased amount is still minimal if you compare it with the depreciation cost that you will otherwise have to pay in case of an eventuality. So, ultimately you save more money than you spend.

  • Monetary Benefits: 

When you file a claim to the insurer, you get monetary compensation for the parts that are depreciated. The insurer cannot reject the claim or cannot deny the compensation amount under this cover. 

Depreciation Rate Applicable on National Bike Insurance Policy With and Without Zero/ Nil Depreciation Add-on

Following are the rates of depreciation with and without National two-wheeler insurance zero/nil depreciation add-on cover. 

Age of BikeRate of Depreciation Without Zero Depreciation Add-on CoverRate of Depreciation With Zero Depreciation Add-on Cover
Under 6 monthsNil0%
6 months to 1 year5%0%
1-2 years10%0%
2-3 years15%0%
3-4 years25%0%
4-5 years35%0%
5-10 years40%0%
Above 10 years50%0%
Parts of BikeRate of Depreciation Without Zero Depreciation Add-on CoverRate of Depreciation With Zero Depreciation Add-on Cover
Paint Work /Rubber/Nylon/Plastic Parts, Tyres and Tubes, Batteries, and Airbags Parts50%0%
Fiberglass Parts30%0%
Glass PartsNil0%

What is Included Under a National Two Wheeler Insurance Policy with Zero/Nil Depreciation Add-on Cover?

Below mentioned are the benefits that are included with the National two-wheeler insurance zero/nil depreciation add-on cover:

  • Policyholders are reimbursed for the depreciating parts that were repaired or replaced. 
  • The tyres and engine or battery are also considered depreciation. If they are partially damaged, then they are included in the insurance cover. 
  • The parts that are made up of nylon, rubber, fiberglass, and other plastic parts are included in the National two-wheeler insurance zero/nil depreciation add-on cover.

What is Excluded Under a National Two Wheeler Insurance Policy with Zero Depreciation Cover?

National bike insurance zero depreciation add-on cover does not include the following things: 

  • At the time of the accident, if the driver is driving without a proper licence, the insurance claim gets rejected. 
  • Driving under the influence of intoxicants is another reason to reject an insurance claim. 
  • No mechanical or electrical breakdown of the vehicle is covered under this insurance. 
  • The vehicle above the age of 5 years from the original purchase will not be eligible for National bike insurance zero depreciation add-on cover. 
  • Complete damage or the loss of the deductible parts are not covered under the National bike insurance zero depreciation add-on cover. 

Factors Affecting National Two Wheeler Insurance Zero Depreciation Cover

National bike insurance zero depreciation add-on cover is affected by the following factors:

  • Benefits of the National bike insurance zero depreciation add-on cover can be availed only twice during the tenure of the insurance policy. 
  • Repetitive wear and tear of the product are not applicable under this cover. 
  • A second-hand vehicle or vehicle with the age of more than 5 years is not eligible under this insurance cover. 

National Zero Depreciation Bike Insurance FAQs

  • 1. Can I claim zero depreciation if I damage my own bike under the National bike insurance zero depreciation add-on cover?

    After you file for the insurance claim, the insurer thoroughly assesses the damages and the events leading up to it. If the damage incurred is involuntary, then you can get monetary compensation. However, if the insurer finds out that some foul play was involved, you do not get any compensation. 

  • 2. Can I get the National bike insurance zero depreciation add-on cover for the second-hand car?

    This cover can be purchased for any vehicle if the age of the vehicle is below 5 years of age. 

  • 3. Can I purchase National bike insurance zero depreciation add-on cover for the used parts of the vehicle?

    At the time of the insurance purchase, you need to disclose it to the insurer. If the insurer allows it after the examination, then it will be included in the policy. If you do not inform it beforehand and the insurer finds out later, it is considered a felony. It will result in your claim getting rejected and leaving you with legal repercussions to it. 

  • 4. Who is the owner of the National Insurance company?

    National Insurance company works under the General Insurance Corporation of India. It can be said that it is owned by the Government of India. 

  • 5. Where is the headquarters of the National Insurance company?

    The headquarter of the National Insurance company is in Kolkata. 

Recent Articles

View All
https://insurance-blog-cms.paytminsurance.co.in/183_Two_Wheeler_Insurance_Bike_Insurance_Add_on_Covers_For_A_Road_Trip_2_9e9b2d4d20.jpg

5 Regular Checks for Two-wheelers Before Going on a Ride

Indian roads are notorious for their unpredictability and fatalities, making it vital for bike riders to ensur...

Read More
https://insurance-blog-cms.paytminsurance.co.in/187_Two_Wheeler_Insurance_Why_Engine_Protection_Add_on_Cover_Is_A_Must_For_Flood_prone_Areas_c72fb1fabe.jpg

Check Out These Top 5 Motorcycling Skills Today!

Looking to find the best five must-have skills for motorcycle riders? Then you are in the right place! Keep re...

Read More
https://insurance-blog-cms.paytminsurance.co.in/179_Two_Wheeler_Insurance_Is_Two_Wheeler_Inspection_Mandatory_For_Claims_3_f86add1352.jpg

5 Things Every First-time Bike Rider Should Remember

Filing a bike insurance claim can be overwhelming, and an error can lead to a rejection by the insurance compa...

Read More
https://insurance-blog-cms.paytminsurance.co.in/164_Two_Wheeler_Insurance_Know_Whether_To_File_Two_wheeler_Insurance_Claim_Or_Not_To_Claim_4307c65b78.jpg

5 Questions to Ask Before Filing a Bike Insurance Claim

Filing a bike insurance claim can be overwhelming, and an error can lead to a rejection by the insurance compa...

Read More
https://insurance-blog-cms.paytminsurance.co.in/177_Two_Wheeler_Insurance_Checklist_Of_Two_Wheeler_Insurance_Policy_While_Relocating_Within_India_3830b99a56.jpg

Avoid These 4 Mistakes When Filing Third-party Bike Insuranc...

Handling someone hit by your bike on the road can be challenging both verbally and legally without third-party...

Read More
https://insurance-blog-cms.paytminsurance.co.in/179_Two_Wheeler_Insurance_Is_Two_Wheeler_Inspection_Mandatory_For_Claims_2_e8478853b1.jpg

How Advantageous It Is to Buy Two-wheeler Insurance from Baj...

Get the optimal bike insurance policy from Bajaj Allianz after understanding the key benefits offered by the i...

Read More
https://insurance-blog-cms.paytminsurance.co.in/198_How_Modification_Can_Affect_Your_Two_Wheeler_Insurance_new_3_ec161d48b4.jpg

Top 6 Essential Things To Do After a Bike Purchase

Several essential tasks like buying bike insurance must be undertaken after purchasing a new bike. This articl...

Read More
https://insurance-blog-cms.paytminsurance.co.in/183_Two_Wheeler_Insurance_Bike_Insurance_Add_on_Covers_For_A_Road_Trip_1_ce7ca58b5e.jpg

5 Key Safety Tips That Every Motorcycle Pillion Rider Must b...

Safety is important for motorcycle pillion riders. Proven tips that assure a safe journey even during tough ri...

Read More
https://insurance-blog-cms.paytminsurance.co.in/181_Two_Wheeler_Insurance_Does_Your_Two_Wheeler_Insurance_Cover_Damages_Against_Fire_53d65b2c10.jpg

5 Steps to Claim Two-wheeler Insurance with Riot Cover

Riots can happen anytime without any warning. It is necessary to protect your bike in such circumstances. In t...

Read More