Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • Nil Depreciation Cover for Two Wheeler Insurance

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    As the owner of a two wheeler, you will come to realise that your pride and joy is a significant drain on your finances. From regular repairs and maintenance to unforeseen situations like accidents, you will have to shell out a tidy sum of money to keep your bike or scooter in good condition.

    Having a comprehensive insurance plan is the best way to save on such expenses, as the plan covers such occurrences. However the natural order of things dictates that the older something gets, the lower its value becomes. This applies to your pride and joy of a two wheeler as well. Two wheelers reduce in worth as they get older as newer entrants enter the market. As a vehicle ages, it is also prone to wear and tear and damage.

    Your two wheeler insurance policy will cover these damages. However as your bike ages, the insurance company levies what is known as depreciation cost, which reduces the amount you will receive when you make a claim for replacement of parts, etc. Every part associated with your two wheeler has an individual depreciation cost, which the insurance company will factor in before settling your claim.

    Ageing of a vehicle is unavoidable, and the depreciation levied by the insurer is also unavoidable. Or is it? Insurers have now come up with an add-on cover termed as “Nil Depreciation”. This cover, which can be bought separately, negates the depreciation cost, resulting in you receiving the total amount claimed.

    We tell you all you need to know about nil depreciation and whether it is an add-on cover worth investing in or not.

    What is Nil Depreciation?

    Nil Depreciation is an add-on cover offering full coverage for all parts without making depreciation deductions. The rate for nil depreciation for two wheelers is between 0 to 40% depending on the vehicle and other factors.

    How does Nil Depreciation benefit customers?

    1. Nil depreciation reduces the amount you would have to pay for repairs and parts by covering the full cost of these. The following types of components and parts are covered by nil depreciation:
      • Rubber
      • Nylon
      • Plastic
      • Fibreglass
    2. It is applicable for both new as well as old vehicles. Nil depreciation cover is available for vehicles that are a maximum of 2 years old.
    3. Your out of pocket expenses are reduced as the insurance company covers the complete cost of insured components and repairs for your bike, as long as they are within the purview of the policy.
    4. Even if you opt for the basic insurance policy, nil depreciation would reduce the loss amount when your claim is being assessed.

    Under what conditions can you avail Nil Depreciation Cover?

    Nil depreciation cover is an add-on cover, which means you will have to pay over and above your regular insurance premium for this service. This would raise the cost of your premium payments, depending on the rate offered by the insurer for your bike.

    Given below are a list of conditions under which you can avail of nil depreciation:

    • The two wheeler is to be repaired at an authorised service center/ dealer/garage only.
    • On average, nil depreciation cover can be claimed for a maximum of two claims during the term of the policy.
    • Total loss in the form of theft or total damage are not covered under the nil depreciation policy.

    What are the exclusions to Nil Depreciation cover?

    Nil depreciation is a good add-on policy that helps ensure you don’t have to pay for replacement parts for your two wheeler, but there are certain exceptions which are not covered under the policy, which are given below:

    • Normal wear and tear of the two wheeler
    • Damage to parts that are not covered under the policy such as tyres and tyre tubes
    • Damage caused by an uninsured occurrence.

    Which factors affect Nil Depreciation premiums?

    As stated above, the rates provided for nil depreciation cover varies from 0% to a whopping 40% depending on certain factors. Given below are the various factors that affect the premiums to be paid for this add-on policy:

    • Age of the vehicle
    • Model or variant of the vehicle
    • Area of residence

    Who should opt for Nil Depreciation?

    To protect your two wheeler and to avoid paying for repairs from your own pocket, you should consider opting for Nil Depreciation cover if you’re any of the following:

    • Live in an area prone to accidents
    • Are a first time two wheeler vehicle owner
    • You own a luxury bike, or one with expensive spare parts.
    Two Wheeler Insurance Online

    Two-Wheeler Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • ICICI Lombard Two Wheeler Insurance
      "Good insurance policy"
      0.5 5.0/5 "Blown Away!"
      I did the insurance and keeping the paper. I'm not aware of the plans and benefits the policy. I have purchased this insurance nearly 1 year before. I made the premium amount of Rs. 1600 and i used to make the payment through cash. I never experienced of the claiming process in ICICI hence i did not speak with the customer care service also.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2018
    • Bharti Axa Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my two wheeler insured with Bharti Axa from last 11 years, i am happy with the coverage an plan benefits of this insurance policy. A premium of Rs 1100 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 18, 2018
    • Bharti Axa Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken a two wheeler insurance with Bharti Axa from last 7-8 months, i am happy with the coverage and plan benefits of this insurance policy. I have not claimed anything so far from this insurance policy. I have to pay a premium of Rs 1400 for this insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2018
    • Oriental Insurance Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the Bike Insurance policy with the Oriental Insurance Company. I am paying a premium of 2000, the policy covers the entire bike. I do not have any claim experience with the policy either. So far it has been a good experience with their services.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 17, 2018
    • National Insurance Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance policy with National Insurance from last 15 years, it is a family health policy with the coverage value of Rs 3 lakhs. I have not claimed anything so far from this insurance policy. I am not aware of the premium amount as the company pays it.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 17, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 7 years, i am happy with the coverage value of this insurance policy. A premium of Rs 800 has to be paid every year for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 17, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a bike insurance policy with the Bajaj Allianz. I am paying a premium 1200 per year. The policy covers the entire bike. I never had any claim experience with the policy. I'll have to wait and see how they respond to my claim requests in future.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jul 16, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 6 years, i am happy with the coverage value of this insurance policy. I pay a premium of Rs 1200 for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 16, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler insurance is with Bajaj Allianz from last 9 months, i am happy with the coverage value of this insurance policy. A premium of Rs 3000 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jul 13, 2018
    • Reliance General Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My bike is insured the Reliance General insurance. I have paid a premium of 4000 for three years, I do not have any claim experience and the policy covers the entire bike. So far it has been a hassle free experience with the policy and I'll have to wait and evaluate their services in future.
      Was this review helpful? 2
      , kochi
      Reviewed on Jul 13, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I was using the Bajaj Allianz bike insurance policy initially. The policy was very good, It was approaching maturity and I changed to a different provider. I do have a claim experience with the policy. The claim process was seamless and hassle free. It is a recommendable bike insurance provider.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 12, 2018
    • Reliance General Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the Reliance general Insurance. I am paying a premium of 1500 year, the policy covers only metal parts. I do not have any claim experience with the policy and so far it has been a smooth experience. I'll have to wait and see about their approach in case if I will have any claims in future.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 12, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with Bajaj Allianz from last 1.5 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I am not aware of the premium amount but i am satisfied with the plan benefits of this policy.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 11, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 8-9 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I pay a premium of Rs 1200 for this insurance policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 10, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My bike is insured with the ICICI Lombard General Insurance. I pay a premium of 1600 annually. The the policy covers entire bike. I do not have any claim experience with this policy either. So far it has been a smooth experience with their services.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 10, 2018
    • New India Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My bike is insured with the New India Insurance company. I pay a premium of 1200 per year, I do not have any claim experience so far and The policy covers the entire bike. I make payments online. Overall it has been a good experience so far.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 10, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Average Policy"
      0.5 1.0/5 "Really Bad"
      I have taken two wheeler insurance from Icici Lombard general insurance . Am satisfied with the premium amount what am paying . I made the payment through on-line for one year. Its an average policy wont be recommending . Their customer service and response is not up to the mark.
      Was this review helpful? 0
      , greater noida
      Reviewed on Jul 10, 2018
    • United India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a two wheeler insurance with United India Insurance from last 7 years, i pay a premium of approx Rs 800 for this insurance policy and it has to be renewed every year. I have no claim experience so far from this insurance policy and i am happy with the coverage value.
      Was this review helpful? 1
      , guwahati
      Reviewed on Jul 09, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "The Service needs Improvements"
      0.5 2.5/5 "Just OK"
      I've a bike insurance policy with the Bajaj Allianz for which I pay a premium of 1600 per year. I got accident, no service was provided. I am not at all happy with their services. Overall they need to be more customer oriented and provide proper assistance to their customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 5 years and it is a good policy to use. I have no claim experience so far from this insurance policy. I pay a premium of Rs 850 which has to be paid every year and the coverage value is good in this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2018
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