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You probably have invested a lot of in-depth thinking and research into buying your brand-new car, now, the next step is to think over buying a reliable, valid car insurance policy for the same. Buying an effective car insurance online policy from a reputed and professional car insurer has to be at the top of your priority list to ensure financial safety for you self and your car!
While searching for the most relevant car insurance plan for your vehicle, you might have come across the term “zero depreciation insurance cover”. Ever wondered what the term meant? In this article, we will help you understand what zero depreciation motor car insurance cover is and whether it is important for your vehicle.
Also referred to as the “Bumper to Bumper” or “Nil Depreciation” motor car insurance cover, this is a four-wheeler insurance policy that excludes the depreciation concept from the overall coverage. Thus, it ensures a complete, comprehensive cover for your car insurance policy. This implies that in case your car suffers any major loss or damage during a car accident or road mishap, no amount of depreciation would be eliminated from the given coverage due to the wearing out of any parts of the car excluding the batteries and tyres of the car. The motor car insurance company will be paying for the entire cost of the repair or replacement of the car’s body parts.
Zero depreciation car insurance cover is known to be offering 100 percent comprehensive coverage for specific car parts including the rubber, fibre, and even metallic parts without any deduction of the depreciation value. However, It is not used for covering the potential engine damage caused due to oil leakage or water ingression or any kind of mechanical breakdown, consumables, or oil change is not covered under the given policy. The zero-depreciation insurance cover comes with a specific limit on the overall number of insurance claims that you will be putting in a year.
Zero depreciation cover can cost around between 15-20 percent of the standard premium. It is mandatory for all the new cars for up to 5 years. The zero-depreciation car insurance cover serves to be immensely beneficial for individuals with:
Once you have bought your new car and are thinking of availing the zero-depreciation car insurance cover for your vehicle, here are some important points to consider:
Zero depreciation cover offers you the peace of mind and ensures protection from future financial burdens in case of car accidents or road mishaps.
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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.
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