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What is Zero Depreciation in car insurance?

Zero Depreciation is an add-on cover under which the insurance provider does not count the depreciation cost of damaged parts (a dip in value due to wear and tear over a period of time) during claim settlement. If you buy a Zero Deprecation cover, you will become eligible to receive a higher claim settlement amount as compared to a situation where you don’t have access to this cover. Generally, during claim settlement, an insurer subtracts the depreciation value of parts before substituting the damaged parts. 

Nevertheless, with this add-on, you will not face any such deduction, and you will be entitled o receive the 100% claim amount (besides any other specified deductibles or applicable costs as per the policy’s terms and conditions). You can purchase this add-on cover while buying car insurance for a new car or at the time of car insurance renewal. It will give you protection along with peace of mind.

Most sought-after car insurance coverages.

Reduce out-of-pocket expenses

Various add-ons

Boost the claim amount

Optimize Savings

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No paperwork

Repair damages

Benefits that Come with Zero Depreciation Car Insurance Add-on

Enjoy these 4 benefits

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Financially Safe

In the absence of the Zero Depreciation Add-on, you end up paying the unpaid share of the claim. And, if the damage to your car is substantial, the repair bill will surely be higher and leave a dent in your account.

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Augment the Payable Claim Amount

Purchasing the Zero or Nil Depreciation Add-on Cover will equip you with an additional advantage and assist you eliminate the gap between the claim settlement amount and the damages caused to your car.

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Available at an Economical Cost

While the Zero Depreciation Car Insurance Add-on Cover is provided with an additional premium, still its cost is low and affordable. You don’t have to spend a fortune to buy this remarkable add-on for your car.

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Boosts your Comprehensive Policy

The Zero Depreciation Car Insurance plan works by boosting your Comprehensive policy by offering extra coverage. When you opt for this cover, you get to enjoy a higher claim amount during settlement.

Who should consider buying a Zero Dep Car Insurance Plan?

  • 1 A Zero Dep Car Insurance plan makes an ideal choice for you if you fall into any of the following categories.
  • 2 If you don’t have a parking space, the possibility of sustaining damage augments so get this plan.
  • 3 If you are residing in a high-risk area.
  • 4 Make sure to buy the Zero Depreciation Plan if you’ve just learned how to drive a car.
  • 5 If you have a luxury or expensive car that consists of expensive car components.
  • 6 If you are someone who wishes to reduce out-of-pocket expenses in case of car damage.

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Type of Vehicles protected under Motor Insurance
Type of Vehicles protected under Motor Insurance
Below are the damages or loss covered under motor insurance::
  • Loss & damages due to terrorist activities riots and strikes are covered.
  • Loss & damages due to fire or self-ignition..
  • Damages due to theft.
  • Claims raised for damages sustained by the in-transit vehicle are covered..
  • Damages due to natural calamities. E.g. earthquakes hurricanes cyclones etc.
Below are the damages or loss not covered under motor insurance::
  • Damages incurred when the driver was under the influence of drugs will not be covered under the moto.
  • If the vehicle is used for illegal activities or the purpose stated apart from that of T&C will not
  • If the vehicle was not licensed at the time of the accident.
  • Loss or damages sustained outside the specified location will not be covered under the policy.

Features and Benefits of Life Insurance Plans.

Stated below are the key features and benefits offered under life insurance policies.

  • 01A Motor Insurance policy offers death benefits along with maturity benefits.
  • 02The policy works as an investment opportunity if invested in ULIP plans.
  • 03Tax exemptions by the income tax act of 1961 are provided under the policy.
  • 04Riders/add-on benefits help you personalize the policy as per your needs.
  • 05The Motor Insurance policy provides flexible premium payments as per the policyholders comfort.
  • 06The policy offers all-around flexibility to the nominee you can appoint or switch nominees anytime.
  • 07The Motor Insurance policy is issued only in the name of the policyholder.


Financial protection.

Offers financial security to the insurers family in case of any uncertainty .


Financial protection.

Offers financial security to the insurers family in case of any uncertainty .


Loan Advantage.

Motor Insurance policy loan facility to the insurer to meet any sudden casualty


Retirement benefit.

Retirement planning offers financial help for your post-retirement years .

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Frequently Asked Questions