Every vehicle will start losing value due to depreciation factor. The rate for the depreciation is standard for all bikes and it mainly depends on the age of the vehicle and its overall condition. Going by the standard rates, you can assume that any vehicle will lose about 10% of its value on an annual basis. In this way, a five year old bike will only have about half of its original value in the market. In simple terms, the protection offered by the insurance company will only be based on the market value of any vehicle. For this reason, you should always try to preserve the value of your bike to its maximum potential. This can be done when you have the best two wheeler insurance that comes with zero depreciation protection. This will preserve the market value of your bike for as long as you have this cover. In normal cases, this will be offered for new bikes for the first few years from the purchase date. This is a good option for expensive and new bikes as you will get the best coverage for them in future.
Coverage for plastic, nylon, fiber glass and rubber components
In normal cases, the coverage for any bike will be given based on the market value of the vehicle. This market value will be considered after discounting the depreciation of the individual parts of the vehicle. When it comes to plastic, nylon, fiber glass and rubber components, the depreciation factor will be very huge and you will only get about half of their original value for the insurance coverage. This can easily be avoided by including the zero depreciation add on cover for the two wheeler insurance policy. This can help you to get better valuation for your vehicle in the long run. When your vehicle is involved in any accident, the damage for all these components will be compensated fully as there will be no depreciation for the first two years.
Your vehicle will get the best coverage from insurance company
The insurance companies always factor the depreciation of all the components separately while giving coverage for any vehicle. This can drastically reduce the market valuation of the vehicle and you will not get coverage for the entire purchase value of your two wheeler. This can be avoided when you choose the comprehensive coverage plan with the zero depreciation add-on cover. In this way, the depreciation will not be applied for the initial two years from the purchase date and you will be able to get complete compensation that is close to the purchase value of your two wheeler.
Reduces expenses for repairs
If your vehicle gets damaged in future due to an accident or other mishap, you will have to spend money to get it repaired. When you have the comprehensive two wheeler insurance policy with zero-depreciation cover, you will be able to claim complete compensation for all the damages to your vehicle. This can drastically reduce your expenses towards repairs and you will not have any issues with regards to claiming this compensation. The insurance company will not factor the depreciation for the two wheeler when this add-on is chosen for the vehicle.
Coverage is available twice
The zero depreciation cover is available as an add-on option for the comprehensive insurance plan. You can use this twice during the entire tenure of the plan and this is a good option for many bike owners. They can get the best coverage for the vehicle and protect it against various damages in future. You can easily choose this add-on option for the new bike and this will be available for the first two years. It is possible to renew the plan after the first year with the same add-on coverage option for the two wheeler insurance policy.
Best policy for expensive bikes
When you have a sports bike or any other expensive bike, it makes sense to protect them with the best two wheeler insurance plan. You will be glad to know that you can now comfortably add the zero depreciation cover and increase the coverage for your expensive bikes. Remember that most of the modern bikes have fiberglass components that lose lot of value due to market depreciation factor while getting coverage from the insurance policy. The zero depreciation cover protects these components by providing them with complete coverage for the first two years. In this way, it becomes very easy to maintain the expensive bikes in perfect condition without spending too much money on repairs. You can choose to pay a slightly higher rate of premium for the regular comprehensive insurance plan and add the zero depreciation cover.
Ideal option for new bikes
The zero depreciation cover is available only for the first two years from the date of purchase of your bike and you should get the maximum coverage for your bike during this period. All you need to do is to choose the comprehensive two wheeler insurance plan that has the zero depreciation cover to protect your bike from market depreciation. This can give you the best returns in the long run when your bike or scooter gets damaged due to any mishap. You can claim complete compensation for all the damages and this will help you to restore the two wheeler to its original condition.
Zero depreciation as an add-on cover for comprehensive policy
The regular comprehensive insurance plan will not give you complete coverage for various components of the bike. In this regard, you can choose the zero depreciation add-on cover by paying additional amount of premium. The amount you pay will be very less when compared to the benefits you can get from this cover in future. For this reason, you should always make it a point to choose this option as it gives you better protection and you can drive your two wheeler without worrying about various problems. You can even get the best service from the network garages when you need them for repairs and other services.
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