For vehicle owners, an insurance policy is an investment worth making. Additionally, according to Indian laws, havingthird-party insurance is mandatory for vehicle owners. Therefore, if you own a car, it is essential that you purchase a car insurance policy. Comprehensive car insurance plans cover a variety of expenses that you may have to bear in case of an unfortunate accident. Moreover, if you do not wish to shell out money from your pocket in case of a claim, you can opt for a zerodepreciation car insurance policy. There are lot of advantages of purchasing zero-depreciation car insurance, such as it can help you keep your car shining and new, thereby reducing its depreciation rate. A lower depreciation rate will consequently increase the resale value of your vehicle. Therefore, zero-depreciation car insurance is an ideal insurance policy for individuals who often resell their cars to purchase a new model.
Let us have a quick look at some important details of zero-depreciation car insurance:
- Zero depreciation car insurance is a car insurance policy that leaves out the depreciation factor from the coverage, thereby giving you complete cover.
- Therefore, if your car gets damaged in an accident, no depreciation is subtracted from the coverage due to the wearing out of body parts of car, excluding tyres and batteries. The insurance provider will bear the entire cost of the replacement of the worn-outparts.
- Zero depreciation car insurance providestotal coverage for all fibre, rubber and metal parts without deduction of depreciation. However, it does not include engine damage coverage due to water ingression or oil leakage. Any mechanical breakdown, oil change or consumables are also not covered in zero-depreciation policy.
- Zero depreciation policy comes with a limit on the number of claims you can file in a year.
- Zero depreciation car insurance is an ideal insurance policy for people with new and luxury cars, inexperienced drivers and people residing in accident-prone areas.
- The premium amount of zero depreciation car insurance policy largely depends on 3 main factors:
- Age of the car
- The model of the car
- The location in which you are based
Now that you have a better understanding of zero-depreciation car insurance policy, ensure that you make the most of it while purchasing Bajaj car insurance. You can easily find all the important details of zero-depreciation insurance policy such as its coverage, exclusions, terms and conditions, renewal policy, etc. by visiting the insurance provider’s website. In addition to that, you can also compare various insurance policies online and before making the final decision. This can help you to choose the insurance policy that best suits your needs. You can also research the insurance provider by checking its reviews and customer feedbacks while purchasing a zero-depreciation car insurance policy. This will help you make a well-informed decision. Also read about what is zero depreciation car insurance before you buy the policy