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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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1. What is Covered in Zero Dep
Typically, zero depreciation car insurance covers the maximum admissible repairing cost of the insured car without deducting the depreciation cost of parts. This usually includes plastic parts, rubber parts, fibreglass components, and sometimes metal parts.