Shriram Zero Depreciation Bike Insurance

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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

Age of the Vehicle  Without Zero Depreciation Cover With Zero Depreciation Cover
Less than 6 monthsNil Nil
6 months-12 months5%Nil
1to 2 yrs10%Nil
2 to 3 yrs15%Nil
3 to 4 yrs25%Nil
4 to 5 yrs35%Nil
5 to 10 yrs40%Nil
More than 10 yrs50%Nil
Bike Part Without Zero Depreciation Cover With Zero Depreciation Cover
Rubber/ Nylon/ Plastic 50%0%
Fiber Glass 30%0%
Glass 0%0%

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. 

Shriram Zero Depreciation Bike Insurance FAQs

  • 1. I have a 5-year-old bike. Can I apply for Shriram zero depreciation two-wheeler insurance?

    Yes, bikes under the age of 5 years are covered by Shriram’s zero depreciation policy.

  • 2. Can I get a no-claim bonus on Shriram zero depreciation two-wheeler insurance?

    Definitely, the no-claim bonus is allowed on zero depreciation insurance, but the condition is that the previous year must be a claim-free one.

  • 3. Do I need to pay a premium for the Shriram two-wheeler zero depreciation policy separately?

    A premium for zero depreciation add-on coverage should be with the basic premium. The payment, however, is not paid separately. All of the fees are included in the overall premium for auto insurance coverage.


  • 4. Can I buy Shriram two-wheeler zero depreciation policy online?

    Yes, you can buy the policy, pay the premium, and do other processes online at Shriram Insurance.

  • 5. Can I include the Shriram zero depreciation add-on after buying the policy?

    You may add zero depreciation coverage to your basic auto insurance policy at any time, whether you're buying a new policy or renewing an existing one.

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