Shriram Zero Depreciation Bike Insurance

Depreciation is commonly-heard as a term that describes the decline in the value of an asset over time, such as the worth of an asset decreasing each year of its usage. A two-wheeler depreciates over time and use, similar to the other tangible asset. By default, the owner is responsible for the expense of depreciation on the two-wheeler.

 In this effect, Shriram zero dep bike insurance can elimiate the cost of depreciation incurred by the insured's two-wheeler against the claim amount when filing a two-wheeler insurance claim. Hence, the policyholder receives full compensation from the insurer on the basic comprehensive insurance policy.

How does Shriram Two Wheeler Insurance Zero Depreciation Cover Work?

 Shriram two-wheeler zero depreciation insurance helps safeguard your vehicle against all physical damages without taking into account depreciation. A normal automobile insurance policy protects you against losses if your bike is damaged or stolen but, the compensation is received after a regular depreciation deduction when you file a claim.

Bike insurance plus zero depreciation cover, on the other hand, can get you the full reimbursement sum. Zero depreciation add-on cover can be added while buying insurance, as well as at the time of policy renewal.

 Under Shriram two-wheeler zero depreciation policy, the company compensates without reckoning the bike’s depreciation. You need to pay a relatively expensive premium for that. This add-on function is highly suggested to every bike owner because it prevents the condition when the owner has to incur any out-of-pocket expenses.

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

 Adding a zero depreciation add-on cover of Shriram two-wheeler insurance to your comprehensive two-wheeler policy offers you the following advantages:

• It provides full compensation for depreciable parts that are required or have been replaced.
• During the claim settlement, the entire expense of repair and replacement is compensated via the policy.
• Shriram Insurance goes an extra mile to cover partial battery damage and tyres without taking the depreciation into account.
• The zero depreciation cover can be purchased both when purchasing two-wheeler insurance and when renewing your bike insurance. Before purchasing bike insurance with zero depreciation cover, bear the following clauses in mind:
• Check with the Shriram Insurance executives to see how many claims are allowed under this policy.
• Only specific two-wheeler models are eligible for zero depreciation and no excess.  

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

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

A two-wheeler policy with Shriram zero depreciation add-on cover compensates for these aspects:

• Policyholders get compensated for the parts like rubber, fiberglass, plastic, and nylon, which are depreciable.
• Depending on the insurance provider, the total number of claims allowed under a bike insurance policy with 0% depreciation are up to 2.
• During claim settlement, compensation is granted for repairs and replacements of two-wheeler parts.
• A zero depreciation add-on cover is available when you buy a new policy as well as during renewal.
• Certain insurance policies cover partial tyre and battery damage without taking into account depreciation. 
• Zero depreciation cover is appliacle to bike up to 5 years of age.

What is Excluded Under Shriram Two Wheeler Insurance Policy With Zero Depreciation Cover?

The following conditions are not covered under a two-wheeler insurance policy with Shriram zero depreciation add-on cover.

• Loss or damage resulting from an unpredictable risk or danger
• Insured bike's regular wear and tear.
• Loss or damage resulting from mechanical failure
• Items like tyres, bi-fuel kits, and gas kits are not covered when damaged
• Most zero dep add-on insurance policy covers the policyholders for around a year, and they must opt for renewal when it expires to continue receiving the advantages. You can buy a zero dep add-on cover along with your bike insurance or at the time of renewal.

Factors Affecting Shriram Two Wheeler Insurance Zero Depreciation Cover

Certain factors you should take into account before choosing a zero depreciation policy.

• You can purchase zero depreciation coverage only if your bike is less than 5 years old.
• In the case of a basic zero depreciation auto insurance policy, only the depreciated value of the bike parts can be replaced.
• Damage to the bike’s batteries or other elements can be recovered as well. However, the coverage is restricted because automobile batteries are depreciated at 50%, while other elements of the bike, made of plastic, rubber, or nylon, are deductible at 30%.
• Obtaining the benefits of zero depreciation insurance necessitates paying greater premiums. As a result, you should purchase this only when you are ready to pay a costlier premium.

How to Buy Shriram Two Wheeler Insurance Zero Depreciation Policy?

• Even though the insurance company offers both the offline and online mode of buying a Shriram zero depreciation bike insurance, we recommend adopting the online process as it is convenient and easy to complete. Following are those steps:
• Submit the details about the insured bike’s such as make, model, etc., in the online form. 
• Choose the options of zero-depreciation two-wheeler insurance.
• Based on the details you have entered, you can get estimates via insurance quote and the premium amount.
• Add personal details like name, contact number, address, e-mail, etc. 
• In the next step, you need to complete the payment formalities for the insurance by making the payment online.
• Once you successfully make the payment, your Shriram two-wheeler zero depreciation insurance is confirmed. 
• Download the policy that Shriram insurance mails you after the payment. 

Shriram Two Wheeler Insurance Zero Depreciation Cover Review

If you are someone who lives in accidental-prone area or you are a new driver or someone who has purchased a new bike, going for zero dep bike insurance from Shriram makes totally sense. This zero depreciation cover ensures that you get full coverage without facing the deduction in depreciation cost.