This is a question asked by most vehicle owners. And it is a good one.
Everyone has a different point of view on it. Some say that if you have an expensive car that has overpriced spares then it is a good idea. Others think it only makes sense if you live in a crowded place where dents and accidents are common. And then there is the argument that those who drive long distances need this as they are most likely to damage their car.
While all these arguments are right in their own right the only reason you should get Insurance with 0% Depreciation is because it gives you total peace of mind.
Normal or regular comprehensive car insurance cover you but then only gives you 50% on all plastic parts and none on the glass parts.
This could prove to be very expensive. Take this incident for example. There was a small head-on collision, nothing serious and nobody was hurt. Except of course the car, thanks to all the crumple zones. The damage included the plastic bumpers, the plastic headlight fitments, the airbags and front turn indicators.
Today garages do not repair things, they replace them. So all this would have cost over Rs. 1 lac. Normal comprehensive car insurance would have covered 50% and you would have to pay the rest. That would have worked out to over Rs. 50,000 as labour would have been added.
This versus just paying a premium that is a little more than Rs. 20,000 is what you have to compare.
We think it makes great sense. It will give you total peace of mind. You know you are covered for any eventuality and that if anything happens your car will be repaired and as good as new without any burden on you.
The trick is to make sure you pay the lowest premium while getting 0% depreciation insurance coverage. Find these quotes online. RenewBuy.com offers the lowest rates from the best companies. Just click and download your policy instantly.