Can we get zero depreciation insurance beyond 5 years?
Best-Suited for –The Zero Depreciation cover is only applicable to new cars of up to five years old. If your car is more than five years old, you should consult your insurer for a suitable course of action. For cars older than 5 years, Zero-Dep is offered but only from offline sources.
Which company gives zero DEP insurance after 5 years?
The Tata AIG Zero Depreciation add-on provides you with the following benefits: Higher Claim Amount: The zero depreciation cover helps you get a higher claim amount as it gives coverage for depreciation on rubber, fibre, plastic and nylon parts of your car.
Can I get a zero depreciation car insurance after 10 years?
1. Cars older than 10 years old. This is one of the first things that are excluded from the cover of zero depreciation car insurance policies. If your car is older than 10 years old, it cannot be covered by a zero dep car insurance policy.
How many times zero DEP insurance can be claimed?
With zero depreciation coverage, the insured does not have to pay the depreciation value of the damaged or replaced parts and the policyholder can claim the full amount. It applies to vehicles that are less than 5 years old and policyholder can avail of it twice during the policy tenure.
Is TYRE covered under zero depreciation insurance?
Mechanical breakdown, along with wear and tear of certain parts like tyre and brake pads are not covered under Zero Depreciation. Any damage caused due to either of the two, also cannot be claimed under Zero Depreciation auto insurance.
Is it worth taking zero depreciation?
A zero-depreciation cover can help you save a lot of money for repairs and when replacing expensive car parts. Luxury cars and cars that require a significant amount of maintenance have parts that are expensive. The depreciation value of these parts would be even higher.
Is zero depreciation Same as Bumper to Bumper?
Zero depreciation cover and bumper to bumper cover are the same thing. They are just two names for a car insurance add-on which insures a policyholder against the depreciation cost of his/her insured’s car. Zero Depreciation or Bumper to Bumper plan covers the full cost of replacement.
What is not covered in zero DEP insurance?
Zero depreciation car insurance policy offers 100% coverage for all fibre, rubber and metal parts without deduction of depreciation. It does not cover engine damage due to water ingression or oil leakage. Any mechanical breakdown, oil change or consumables are also not covered in this policy.
Is zero depreciation Same as bumper to bumper?
How do I know if I have zero DEP insurance?
The additional premium of zero depreciation car insurance is 20% of a standard insurance policy. You can easily calculate zero depreciation car insurance premium calculator available on the websites of car insurance online to know the amount of premium you will bear.