I recently bought an ICICI Lombard bike insurance policy, and I’m a bit confused between opting for the Zero Depreciation add-on or the Return-to-Invoice add-on. Can you please explain the difference between these two covers and which one would be better for my bike?
When I first explored ICICI Lombard bike insurance add-ons, I was also unsure whether to choose Zero Depreciation cover or Return-to-Invoice (RTI) cover. Both add-ons are valuable, but they serve different purposes.
Zero Depreciation Cover:
With this add-on, ICICI Lombard does not deduct depreciation on parts like plastic, fiber, or metal during a claim. This means you get a higher claim amount since the depreciation costs are covered. I found it very useful for regular accidental repairs, especially for new or high-value bikes.
Return-to-Invoice Cover:
This add-on helps in situations where the bike is stolen or completely damaged beyond repair (total loss). ICICI Lombard reimburses the original invoice value of the bike (including road tax and registration charges). For me, this gave extra peace of mind knowing I could recover the bike’s full value if the worst happened.
My Takeaway:
• If your bike is new and you want maximum claim amount on repairs, Zero Depreciation is ideal.
• If you want to be financially protected against theft or total loss, Return-to-Invoice works better.
• I personally opted for Zero Depreciation, as I mostly needed protection for accidental damages. But if you live in an area with higher theft risk or want complete financial security, RTI may be the right choice.
You can read more about these add-ons on the official ICICI Lombard website here:
https://www.icicilombard.com/motor-insurance/two-wheeler-insurance