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Motor Insurance-Add on Cover-Nil Depreciation

Two Wheeler Nil Depreciation Benefit to Customer

This add on cover makes sure you get rid of the depreciation factor at the time of claims by opting to go for a little extra premium. In short, it offers you with the below benefits:

  • You get more for less on choosing to buy depreciation cover.
  • Provides added security & complete peace of Mind.
  • Minimizes out of pocket expenses.
  • Widens the existing scope of cover.


Benefit to Customer:

  • Nil or Zero Depreciation cover, as it may be otherwise called adds value to the Basic Cover- Most claim settlements seem incomplete to the customers as they see deductions in actual loss amount assessed.
  • A major deduction is on account of Depreciation charged on parts requiring replacement after accident.
  • By opting for this Value Added Cover you can do away with this irritant.

    Click here to view demo on Nil depreciation


    Coverage and Applicability:

    1. Coverage on all Rubber, Nylon and Plastic parts.
    2. Coverage on all fiber glass components.
    3. Applicable for select make and models.
    4. NIl Depreciation Cover may be opted for in case of Brand New Vehicles or at subsequent renewals. Even if you missed out taking this cover for your brand New vehicle, you may choose to go in for Nil Depreciation cover at the time of renewal.
    5. The cover is applicable for vehicles with maximum age up to 2 years and operates for maximum of 2 claims during the policy period.
    6. This benefit is applicable to vehicles used for two wheeler only.


    All additional covers come at a price and one needs to examine the details of coverage provided, as there are conditions imposed and which need to be fulfilled, to avail these add-on benefits.

    1. The Insured Vehicle should be repaired only at company’s authorized Dealer/Repairer.
    2. Nil depreciation cover will operate only for maximum 2 claims during the policy period.
    3. No indemnity shall be granted to Total Loss/ Constructive Total Loss/ Theft claims.


    1. Parts which are not approved for replacement under motor insurance policy.
    2. Not applicable on tyres and tubes.

    How to Add Nil Depreciation Cover:

    Click on Renew online or Calculate premium & buy online and follow the below step to add Nil Depreciation Cover to your policy and get a benefit of complete claim.


  Alerts and Updates

This is to notify that as per IRDA Communication, Third Party Premium rates are proposed to increase for all Motor policies starting from 1 April 2013.

This change shall apply to all General Insurance Companies in India

If any Motor policy for 1 April and later is renewed before such rates are announced by the Regulator, our customers are requested to pay the difference premium to the nearest office directly or through their licensed Agents.

Once rates are announced Customers are requested to pay premium as per new rates irrespective of the premium received in Renewal Notices.

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For all Motor Package policies starting from Feb 1, 2013, depreciation on Painting becomes applicable as per IRDA order no, IRDA/ NL/ ORD/ MISC/ 006/ 01/ 2013 dated 8th January, 2013.

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Reliance General Insurance,
Reliance Centre, 19 Walchand Hirachand Marg, Ballard Estate, Mumbai, Maharashtra - 400001
IRDA Reg. No. 103 dated 23/10/2000. Insurance is the subject matter of solicitation.

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