Universal Sompo Zero Depreciation Bike Insurance

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There is a reduction in your insured two-wheeler’s value due to normal wear and tear and aging. Therefore, the immediate impact of depreciation is the financial loss you incur in claim settlement. However, with the Universal Sompo zero-dep bike insurance add-on, you do not end up paying the difference of the actual repair cost while settling the claim. On the other hand, Universal Sompo’s depreciation waiver compensated you for the total cost of repairs and replaced parts saving expenses from your pocket. 

Universal Sompo - How does the Zero Depreciation Cover Work?

The zero depreciation cover of Universal Sompo two-wheeler insurance comes into play when you lodge a claim and is up for settlement. If your insured bike sustains extensive damage in a collision, the insurer’s depreciation waiver add-on comes to your rescue bearing the entire repair cost ignoring the depreciation factor. Thus, you get the facility to get your insured bike repaired without paying a penny from your pocket for the depreciated replacement parts at any of the Universal Sompo’s network garages. 

Universal Sompo Zero Depreciation Add-on Cover – Benefits

The depreciation waiver add-on comes with several benefits, and the Universal Sompo two-wheeler zero-dep insurance policy is no exception: 

  • Claim Amount Indemnity: The Universal Sompo 0-dep bike insurance ensures that you realize the claim’s complete repair and parts replacement costs. It happens as a waiver applies to the depreciation factor for the add-on in your standalone own-damage insurance policy or comprehensive two-wheeler insurance.
  • More Savings: The Universal Sompo two-wheeler zero-dep insurance insulates you from depreciation and damages sustained to the bike parts. Thus, you can save more money on repairing and replacing depreciable parts by two wheeler insurance.

Depreciation Rate Applicable on Bike with and without Zero Depreciation Add-on

Age Without Zero Dep With Zero Dep 
Below Six Months 0%0%
Six Months – One Year 5%0%
One Year – Two Years 10%0%
Two Years – Three Years15%0%
Three Years – Four Years 25%0%
Four Years – Five Years 35%0%
Five Years – Ten Years 40%0%
Above Ten Years 50%0%
Bike Part  
Rubber/ Nylon/ Plastic 50%0%
Fiber Glass 30%0%
Glass 0%0%

Universal Sompo Bike Insurance Policy with Zero Depreciation Cover – Inclusions

Documentation must be flawless for any claim settlement. Else there are possibilities of repudiation. Therefore, you must be thorough about all the inclusions in the depreciation waiver add-on. 

  • Compensation for depreciable rubber, nylon, plastic, fiberglass, and glass two-wheeler components
  • Cost of repairs and parts replacement on claim settlement
  • Tyre and battery damage without depreciation
  • Avail the add-on during purchase and renewal
  • The number of claims depends on the insurer
  • No excess clause is available for some two-wheeler models

Universal Sompo Bike Insurance Policy with Zero Depreciation Cover – Exclusions

You must understand the ambit of the Universal Sompo zero-dep bike insurance add-on to ensure a seamless claim settlement experience. Accordingly, look at the following:

  • Uninsured perils of any sort
  • Damage caused due to mechanical failures
  • The normal aging process and that the wear and tear does not conceal
  • The two-wheeler suffers destruction
  • Uninsured components like tyres, bio-fuel kits, and gas kits

Factors Affecting Universal Sompo Bike Insurance Zero Depreciation Cover

Abide by the following conditions to claim the depreciation waiver in the claims.

  • The depreciation waiver is limited to two claims during the policy term.
  • You cannot invoke the zero-dep add-on for repairing and replacing parts due to normal wear and tear.
  • The depreciation waiver is available to bikes less than 5 years in age. 
  • There is no zero-dep insurance cover for total loss and mechanical and electrical breakdowns.  

Universal Sompo Bike Insurance Zero Depreciation Cover - How to Buy?

Universal Sompo General Insurance operates in a wholly digital environment delivering its varied services 24/7. Accordingly, the most convenient method is buying the Universal Sompo zero-dep two-wheeler insurance online. However, the add-on is available to policyholders of own-damage standalone and comprehensive two-wheeler insurance policies. You can use the online option at their official portal or try out the several aggregators offering their services. The steps are:

  1. Invoke the “Buy Now” option, feed the bike’s registration number, mobile number, location, and email address, and click on “Get Quote” to open the next page.
  2. Confirm the input, choose the specific depreciation waiver add-on, and continue with the quote.
  3. Approve the quote and pay the premium using the available payment solutions.
  4. Your  Universal Sompo two-wheeler zero-dep insurance online purchase is complete. 

Universal Sompo Bike Insurance Zero Depreciation Cover Review

Universal Sompo’s two-wheeler insurance is rapidly gaining patronage among bike owners due to their elaborate add-on offers over the standard insurance coverage. Among them, the Universal Sompo two-wheeler insurance zero-dep add-on stands out for your financial immunity from the natural process of depreciation. In addition, you can seek cashless claims in over 3500+ network garages signifying a nearly 91% claim settlement ratio. 

Universal Sompo Zero Depreciation Bike Insurance FAQs

  • 1. Do you need to choose the Universal Sompo two-wheeler insurance zero-dep add-on while renewing the policy?

    You need to choose the zero-dep add-on every time you renew the policy to continue with the facility uninterrupted. 

  • 2. Is the zero depreciation available with the third-party two-wheeler insurance policy?

    No, you must buy the own-damage or the comprehensive two-wheeler insurance policy to avail of the zero-dep add-on coverage. 

  • 3. Do you get the entire claim amount under the Universal Sompo two-wheeler zero-dep insurance?

    No, the cost of deductibles will not be covered under this add-on. Else, you get the total or maximum claim amount depending on the terms and conditions of the add-on and meeting the requirements. 

  • 4. Are compulsory deductibles applied to the claims under the Universal Sompo two-wheeler insurance zero-dep policy?

    The zero-dep add-on coverage compensates only for the parts depreciation but not for the compulsory deductibles. 

  • 5. Is the Universal Sompo 0-dep bike insurance available only for new bikes?

    The add-on is available for new bikes and those less than five years old. 

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