SBI Zero Depreciation Bike Insurance

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SBI General Two Wheeler Insurance Highlights

SBI General (Two Wheeler Insurance)
SBI General Insurance offers a wide range of general insurance products in retail and commercial space ranging from Motor, Health, Personal Accident, Travel and Home Insurance in the retail space and products like Aviation, Fire, Marine, Package, Construction & Engineering and Liability Insurance in the commercial space.
Claim Settlement Ratio
Video Claim
-- App based claims % - 68% of claims are handled through LVS. Customers can to do Self Survey and upload documents through this facility
close -- App based claims % - 68% of claims are handled through LVS. Customers can to do Self Survey and upload documents through this facility
Spot Claims
Available upto Rs 10,000

Depreciation means a reduction in the value of assets due to their normal usage over time. A comprehensive policy only gives you the coverage of the depreciated amount of your assets which gets reduced. A policyholder wants to obtain full coverage against the original cost of his bike/scooter in an ideal insurance policy he obtains. 

SBI zero dep bike insurance is an add-on that allows you to claim the total amount of your two-wheeler; hence you need not worry about the cost of damages incurred against your two-wheeler in a mishap.

How does SBI Two Wheeler Insurance Zero Depreciation Cover Work?

You can add on the SBI zero dep bike insurance with both the standalone insurance policy and the comprehensive insurance policy. With the add-on, the entire amount of the damages incurred by the bike/scooter will be paid by SBI two wheeler insurance. You need to inform the insurance company as soon as possible after the accident. Once the company has approved your claim application, it will reimburse the total cost of the two-wheeler, which is way higher than its depreciated amount.

Benefits of SBI Two Wheeler Insurance Zero Depreciation Add-on Cover

You can get the following two attractive benefits by purchasing the SBI two-wheeler insurance zero dep policy:

  • Money Saver: With a little extra premium with this add-on, the two wheeler insurance policyholder can get coverage of repairs and replacement of their two-wheeler's parts from the insurance company.
  • A High Amount of Claim: The depreciation amount does not get deducted from the original cost of the two-wheeler, and the policyholder can claim a higher amount.

Depreciation Rate Applicable On Bike With And Without Zero Depreciation Add-on 

The depreciation rates applicable on two-wheelers with and without zero dep add-on are covered in the table below:

Bike’s AgeRate With Zero Depreciation Add-onRate Without Zero Depreciation Add-on
Less than six months0%0%
More than six months and less than 1 year0%5%
Between 1 and 2 years0%10%
Between 2 and 3 years0%15%
Between 3 and 4 years0%25%
Between 4 and 5 years0%35%
Between 5 and 10 years0%40%
More than 10 years0%50%
Bike’s PartsWith Add-onWithout Add-on

What is Included Under SBI Two Wheeler Insurance Policy With Zero Depreciation Cover?

Compensation of depreciation charges for the depreciable parts of the bike such as glass/fiber/plastic is covered.
Few zero dep policies provide coverage for the tyre and batteries of the bike without the dep amount.

What is not Included Under SBI Two Wheeler Insurance Policy With Zero Depreciation Cover?

  • The claim cannot be availed more than two times in the entire policy tenure.
  • Bikes more than of 5 years of age cannot avail of this SBI zero dep bike insurance. 
  • Total loss due to electrical and mechanical breakdown is not covered.
  • Illegal bike riding under the influence of intoxicants
  • Riding a bike for unlawful purposes
  • Driving the bike with an invalid/expired DL and/or policy

Factors Affecting SBI Two Wheeler Insurance Zero Depreciation Cover

The below conditions affect the SBI two-wheeler zero dep insurance:

  • Bike’s make and model
  • Bike’s age
  • IDV of the bike
  • Fuel type of engine cc
  • Territorial location of the bike

SBI Zero Depreciation Bike Insurance FAQs

  • 1. Who should buy the SBI zero dep bike insurance add-on?

    The following persons are suitable for the same:

    • New bike owners/riders
    • Riders who live in proximity of accident-prone areas
    • People who have expensive two-wheelers with expensive parts
  • 2. Can I buy the SBI two-wheeler zero dep insurance online during policy renewal?

    Yes, you can purchase the zero dep cover at the time of both purchase and renewal.


  • 3. Can I add SBI zero dep bike insurance cover in my SBI third-party policy?

    Unfortunately, you can only avail of this add-on with a standalone or a comprehensive insurance policy.


  • 4. Is it worth buying the zero dep add-on if my bike is older?

    We recommend you not buy it if your bike is older than five years.


  • 5. Can I buy a zero-dep add-on if I am purchasing a second-hand bike?

    There is no restriction to it, but you should add this in new bikes or the bikes which are not so old.


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