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Depreciation refers to the gradual decrease in the value of your bike due to regular wear and tear.
When you are purchasing a bike insurance policy, provide accurate information to the insurer regarding the age of the vehicle.
When you raise a claim with your insurer, the payment for the claim will be made taking into consideration the depreciation value.
If the bike is old, the IDV is going to be considerably lower.
The history of the bikeThere is a probability that the previous owner of the second-hand bike may have made alterations to the bike.
Or, it may have gone through an accident and been repaired heavily.
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