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What is Nil Depreciation Car Insurance, and What Does it Mean?
With zero depreciation car insurance, the insurer covers the full cost of repairing or replacing damaged parts, except for compulsory deductibles, leading to a higher claim payout compared to regular policies.
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What Is Zero Depreciation Car Insurance?
Zero depreciation car insurance, also called zero depreciation insurance or nil depreciation cover, is an add-on attached to a comprehensive car insurance policy. A standard policy deducts a percentage of depreciation from replacement parts before settling your claim.