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These two wheeler insurance policies can be differentiated based on the appended factors which can help you take an informed decision based on your personal needs and circumstances -
Premium Rate: - A comprehensive bike insurance provides cover up to 15 years whereas Zero depreciation cover provides cover for a period of up to 5 years
Claim Settlement: - In case of comprehensive insurance, the insurer factors in the depreciation on bike at the time of claim settlement. While in case of zero depreciation, the claim is settled without considering the depreciation which is why it is called zero or nil depreciation cover
Repair Expenses: - Under Zero Depreciation Insurance, the insurer covers total repair expenses. However, under Comprehensive Insurance there is no such provision. The insured must bear the extra cost for repairs
Priority: - Comprehensive bike insurance is suitable for individuals who want complete protection for their bikes. Full protection is their ultimate priority. A two-wheeler zero depreciation add-on cover is suitable for those who want to recover more at the time of claim settlement and for whom depreciation is a big consideration.
Cholamandalam MS, a General Insurance Company in India, offers a wide range of insurance policies for individuals and corporates.
For individuals, there are products like Car Insurance, Travel Insurance, Two Wheeler Insurance, Health Insurance, Personal Accident Insurance, Crop Insurance and Home Insurance. For SME's and Corporate Insurance clients, Chola MS offers customized insurance solutions encompassing insurance and risk consulting services such as Group Mediclaim Insurance, Group Personal Accident Policy, Engineering Projects Insurance, Engineering Operations Insurance, Liability Insurance, Marine Insurance, Fire Insurance and other Miscellaneous Insurance Solutions.
All Rights Reserved. Cholamandalam MS General Insurance Company Ltd. Insurance is the subject matter of solicitation. Reg office: 2nd Floor, "Dare House", No.2, NSC Bose Road, Chennai - 600001, India. IRDAI Registration Number : 123. Trade logo displayed above belongs to ‘CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED” (formerly known as TI financial holdings limited) and Mitsui Sumitomo Insurance Company Limited and used by Chola MS under license. CIN : U66030TN2001PLC047977.
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The advertisement contains only an indication of cover offered. For more details on risk factors, terms, conditions and exclusions, please read the sales brochure carefully before concluding a sale