08/11/2023
Benefits of Zero Depreciation Insurance.
- Zero Depreciation cover gives you full compensation for your car repairs without any deduction for depreciation.
- This means you don't have to pay anything from your pocket for the damaged parts, except for the compulsory deductible.
- For example, if your car's bumper is damaged in an accident and it costs Rs. 10,000 to replace it, you will get the full amount from your insurer if you have Zero Depreciation cover. But if you don't have this cover, you may get only Rs. 6,000 after deducting 40% depreciation.
- This cover also protects your no claim bonus (NCB), which is a discount on your premium for every claim-free year. If you make a claim without Zero Depreciation cover, you will lose your NCB. But if you have this cover, you can retain your NCB even after making a claim.
- This cover can also increase the resale value of your car, as it shows that you have maintained it well and repaired it with original parts.
Team
Insurance Walle
