Zero Depreciation

Uncomplicating Motor Insurance

with our certified POSP
advisors to guide you

Zero Depreciation

In insurance parlance, Zero depreciation insurance cover means a complete coverage of damages without factoring in any depreciation of the value of the car and its parts. In simple terms, it means that if you damage your car in any accident, you get the entire cost of the damage from the insurer without having to shell out any amount yourself.

Why should one get Zero Depreciation car insurance?

In a standard policy, when you file a claim for any damage, the insurer pays only a certain amount of the cost depending on the estimate of the current value of the car. They take into account the depreciation in the value of the vehicle. In such a case, you end up paying 20 to 30% of the damage cost. While in a zero depreciation cover, the insurer pays the full amount of the claim It is also known as the zero dep insurance.

Before buying Zero depreciation insurance keep these factors in mind,

  • The premium of such a policy is slightly higher than the normal standard policy.
  • There is a limit to the number of claims one can make in a year.
  • The policy usually covers new cars.

So, if your car is new get zero depreciation insurance.

What is Zero Depreciation Bike Insurance?

Just like cars, the insurance companies have zero depreciation covers for bikes too. However there are few conditions to be kept in mind.

  • The policy is not applicable in case of stolen or completely damaged bikes.
  • The bike must be repaired in garages authorised by the insurers.
  • One can make only two claims during the policy period.

So now that you are aware of the zero depreciation insurance policy, choose wisely to enjoy the maximum benefits.

Ajay Oaksaved 51% on Toyota Fortuner "Apart from getting me a faboulous discount of over 50%, renewbuy.com made the process so easy to renew my policy." Rajesh Relansaved 50% on Mercedes E280 "Had an excellent customer experience with best quote as compared to other aggregator sites. I was delivered the policy well within the promised timeline." Muralidhara Kadaba "Great experience. Quick. Easy. Hassle free." Rajat Bahadursaved 50% on Volkswagen Vento "I had to renew the insurance for my wife's car on the last day of expiry. Even though it was a complex case of transfer from a lease company, team Renewbuy delivered a swift and seamless experience via their website and brought about savings of more than 50% on the premium from last year. The entire process took only 30 minutes from the comfort of my office!!" Amit Sinhasaved 33% on Maruti Alto "Had an excellent customer experience with best quote as compared to other aggregator sites. I was delivered the policy well within the promised timeline."