A very important add on in every Car insurance is Zero depreciation cover. Zero Dep also known as Nil Depreciation or Bumper to Bumper cover. It also makes your car insurance policy a comprehensive insurance policy.
With time and usage, each part of the car wears out. Due to this, value of these parts decreases. The depreciation of part is directly related to the age of the car. So during the claim, insurer calculate the value of your car after factoring in depreciation, and accordingly you get the settlement amount.
Zero depreciation cover helps you to protect your car against all the physical damages caused to the car without factoring in the element of depreciation. This add on gives you complete cover on any body parts excluding Tyres and batteries. Insurer will pay you entire cost of body part ignoring the year on year depreciation.
Though to add Zero depreciation in your insurance policy costs you slightly more in your premium, but it is always recommended to select zero depreciation or bumper to bumper cover in your policy to eliminates any out of pocket expenses.
To understand more on add ons, check below link
With time and usage, each part of the car wears out. Due to this, value of these parts decreases. The depreciation of part is directly related to the age of the car. So during the claim, insurer calculate the value of your car after factoring in depreciation, and accordingly you get the settlement amount.
Zero depreciation cover helps you to protect your car against all the physical damages caused to the car without factoring in the element of depreciation. This add on gives you complete cover on any body parts excluding Tyres and batteries. Insurer will pay you entire cost of body part ignoring the year on year depreciation.
Though to add Zero depreciation in your insurance policy costs you slightly more in your premium, but it is always recommended to select zero depreciation or bumper to bumper cover in your policy to eliminates any out of pocket expenses.
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To understand more on add ons, check below link
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