Zero Depreciation Car Insurance: Coverage & Benefits (2024)

It will apply for repairs and replacement in case of:

• Damage due to natural and man-made disaster

  If your car gets damaged due to a landslide, earthquake, or flood, or in a terrorist attack, riots, or vandalism, our zero dep add-on will help you.

• Accidental damage

  If your car gets damaged in an accident, our zero depreciation add-on will have your back.

• Damage during transit

  If you move your car from one location to another and it gets damaged in transit, we will cover it under our zero depreciation policy.

Zero dep will not apply if you claim for car damage for cases like:

• Driving without a licence.
• Driving under the influence of drugs or alcohol.
• Normal wear and tear or mechanical breakdown.
• Problem with engine oil, coolant, clutch oil etc.
• Total loss to your car.
• The cost of repairs equalling or exceeding its insured value.
• Having claimed more than twice in a year under this add-on.

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If you are planning to opt for a zero depreciation cover, consider the following factors that influence your zero depreciation premium.

• Place of registration: You might be charged higher for zero depreciation if your car is registered in major cities such as Mumbai, Bengaluru, Chennai and Delhi, among others.
• Insured Declared Value (IDV): The IDV plays a crucial role in determining zero dep premium. When calculating the premium under the IDV, the depreciation is deducted from the insured car’s current worth.
• Engine type: You might be charged higher for zero depreciation cover if you drive a car with a higher cubic capacity engine.
• Accessories installation: Keep your budget in mind when installing accessories in your car. This is because the zero dep premium for additional features and accessories is calculated separately.
• Car’s age: The older the car, the higher will be the zero-dep premium. Moreover, cars older than five years are not eligible for zero depreciation cover.
• Fuel type: The cost for zero depreciation might be higher depending on whether you drive your car on CNG, diesel, petrol, or an electric car.