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With standard insurance, a depreciation rate is applied to determine the payable amount for the damages or repairs during the claim settlement. Here, the difference between the depreciated and market price of new parts is borne by the insured.
What is Zero Depreciation Cover?
Here is why you need it. Under standard insurance, the amount payable for repairs or replacements during a claim settlement is determined by applying a depreciation rate. This means the difference between the market price of the new parts and the depreciated parts has to be borne by the policyholder. However, with zero dep cover for cars, your insurer bears the depreciation cost during claim settlements.
Zero Depreciation Car Insurance: Who Is It for?
Cars are not treated just like vehicles in India. It involves emotions and a sense of achievement. Therefore, having a zero depreciation cover ensures you protect your car and keep it in a new condition without worrying about the hefty expenses of repairs.
Wrapping Up
It is natural for your cars to depreciate; at Generali Central , we believe that their protection doesn't have to. Zero depreciation coverage makes sense for both old and new cars. The benefits and the impact might differ. Opting for zero-depreciation coverage early on ensures you enjoy complete peace of mind, knowing your car is protected against unexpected repair costs.