Zero Depreciation Car Insurance

If you are living in a high-risk area.

Buy the Zero Depreciation Cover if you have recently learned how to drive a car.

If you own a luxury or expensive car with costly car parts.

Opt for a Zero Dep cover if you need to repair minor damages to keep the car in a top-notch condition.

If you are worried about small dents and bumps or expensive spare parts.

If you don’t have a dedicated parking space, the chances of damage increase. The Zero Dep Insurance will help you cover repair costs for such damages.

If you are someone who wishes to reduce out-of-pocket expenses in case of car damage.

Increases the Claim Settlement Amount: Buying the Zero/Nil Depreciation Add-on Cover bridges the gap between the claim settlement amount and the actual damages to your car. For example, if the repair cost is Rs. 30,000, then the insurance company will settle your claim for Rs. 15,000 after deducting depreciation value. However, if you have opted for the Zero Depreciation Add-on, the insurer will settle the claim amount of Rs. 30,000, thereby increasing the claim settlement amount.

Protects from Financial Loss: Zero Dep car insurance helps in increasing the claim settlement amount. Hence, you are certainly controlling the outflow of your hard-earned money. Without the Zero Dep Add-on, you end up paying the unpaid portion of the claim, which is deducted as depreciation. And, if the damage to your car is considerable, the repair bill will certainly be higher and burn a hole in your pocket.

The Add-on Comes at an Affordable Cost: While the Zero Depreciation Car Insurance Add-on Cover is offered with an additional premium, the cost is low and affordable. You can compare the Nil Depreciation premium online and then choose the plan with the lowest premium. Additionally, by including the Zero Depreciation Add-on to the Comprehensive Car Insurance, your car and your money are well-protected at an affordable cost.

Geographical Location: Every city has its different challenges, problems and risks. Hence, the premium of this add-on cover depends on the location where you will be driving your car.

Age of Your Car: Zero depreciation add-on premium is dependent on the age of your car, and hence car's age plays a pivotal role.

Make/Model of Your Car: The make and model of your car will have an impact on the cost of the parts. Hence, the model of your car determines the premium for this add-on cover.

Not Valid for Cars Aged More Than 5 Years Old :Zero Depreciation add-on does not cover cars that are more than 5 years old. Please read the terms and conditions, as some insurers do not offer cover for cars over a certain age.

Total Loss/Constructive Total Loss of the Car :In case of an unfortunate accident that renders the car a total loss, a Zero Depreciation add-on will not be considered while settling the claim. The current market value of the car is considered while settling claims towards a car that has undergone a total loss.

Replacement of Certain Car Parts :Replacement of tyres and tubes, unless specified in the terms and conditions of the policy, is not covered under the Zero Depreciation cover.

Driving Without a Driving Licence :If you are driving the car without a valid Driving Licence and you meet with an unfortunate accident, then the insurance company will not honour the claim. In this case, even the Zero Dep insurance add-on will not be considered.

Driving Under the Influence of Alcohol/Intoxicating Substances :Your claim towards the repair bill for the damages to your car will be dishonoured if the driver is found driving under the influence of alcohol or an intoxicating substance.

Doesn’t Cover Consumables Cost :This car insurance add-on cover does not compensate for the costs of consumables such as nuts and bolts, screws, gearbox oil, brake oil, lubricants, etc.

Doesn’t Cover Mechanical/Engine Breakdown :Regular wear and tear, mechanical breakdown or engine breakdown are not covered under the Nil Depreciation add-on cover.

Doesn’t Cover Compulsory Deductibles :While settling claims, the Zero Depreciation add-on covers only the cost of the car part’s depreciation and does not cover compulsory deductibles.