Sbi Car Insurance Zero Depreciation

Many of us are not aware of the benefits and the meaning of this cover insurance buyers usually say no to add on covers as we think it is simply a tactic for the salesperson to increase our bill amount.

Sbi car insurance zero depreciation. This policy does not reduce the claim amount because of the depreciation of the car s parts. Sbi general insurance is a well known name in the insurance industry. Car insurance companies offer you few add on covers when you purchase car insurance one of the covers is zero depreciation. Zero depreciation car insurance is only applicable to new cars but some of the insurers offer zero dept car insurance for cars more than 3 to 5 years.

Obviously zero depreciation cover will cost more close to 20 and more than any standard no frill policy that is available in the market. In a zero depreciation policy the insured gets the total cost of the damage or loss that is caused to the insured car. This implies that your car will be devoid of its general depreciation during car insurance claims. The insurer offers a huge variety of add on covers with its comprehensive and standalone car insurance plans.

Depreciation is the decrease of the value of parts of any asset with time. Your car is also subjected to the same and all of its parts lose value with age. Sbi general zero depreciation car insurance. Zero depreciation car insurance.

These car insurance add on covers help you extend the coverage of your insurance plan against the payment of an additional premium amount. Whereas in the case of zero depreciation policy the insured car will be reimbursed the full amount of the repair cost regardless the age and current value of the car. Nil depreciation under this sbi car insurance online plan in india the company will cover the insured without deduction for depreciation on parts in respect of approved partial loss. A zero depreciation car insurance plan is a comprehensive car insurance policy having the zero depreciation add on added to it.

The depreciation value of the replaced or damaged parts is usually deducted at the time of claim but with zero dep policy one can claim the full amount. Learn why zero dept is better than the normal cover. A zero depreciation car insurance is a comprehensive car insurance policy with the zero depreciation add on cover included. With zero depreciation add on when you file an insurance claim due to damage loss to your car the insurer covers the entire cost without accounting for counting in the vehicle s depreciation.

Without the zero depreciation cover all insurers account for depreciation on your car s parts and therefore pay you your claim only after subtracting the amount of. In other words 100 repayment will be covered on payment of additional premium.