what is zero depreciation bike insurance

Zero depreciation bike insurance is an add-on cover for bike insurance that provides complete coverage for the bike or scooter parts without considering the depreciation cost of the vehicle. In other words, it means that the insurance company does not take into account the depreciation on bike or scooter parts while settling the claim. This add-on cover acts as a layer of protection for the vehicle and its spare parts, and it is especially useful for new bikes or high-end bikes with expensive spare parts. Generally, a zero depreciation add-on cover costs almost 15% of the bike insurance premium. With this add-on cover, the insurer will pay the whole cost of external care body repairs or replacement without factoring in depreciation. It is important to note that zero depreciation bike insurance is not a standalone policy and needs to be purchased as an add-on cover along with a comprehensive bike insurance policy.