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5 Things to know about zero depreciation for your car

26

Mar, 2019

5 Things to know about zero depreciation for your car

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A zero depreciation policy is also known as Nil Depreciation Cover and Bumper-to-Bumper car insurance cover. Zero depreciation is a car insurance cover that covers you for the depreciation cost that you may have to bear otherwise, following an accident that damaged your car. Depreciation cost is the decrease in the value of your car over a period of time due to continuous use and general wear & tear. When you file a car insurance claim, you are paid the claim amount after subtracting the voluntary deductible chosen by you […]

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Explaining Zero Depreciation Policy

28

Aug, 2014

Explaining Zero Depreciation Policy

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You have had an accident and now need to pay a whooping INR 1 lakh for repairing your car. However, you assume that since you have a motor insurance policy your damages would be covered. Unfortunately, when you file for claims, you come to know that you would have to pay hefty fraction of the overall costs, approximately INR 45,000, from your own pocket. What you forgot to factor in are the depreciation costs. Depreciation is the decrease in the value of an asset due to continuous use. In car […]

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