Can I get a zero depreciation car insurance after 10 years?

Asked by: Eduardo Goodwin  |  Last update: July 24, 2022
Score: 5/5 (72 votes)

1. Cars older than 10 years old. This is one of the first things that are excluded from the cover of zero depreciation car insurance policies. If your car is older than 10 years old, it cannot be covered by a zero dep car insurance policy.

Is zero dep not available after 5 years?

Depreciation for calculating IDV

However, for vehicles older than five years, or the models that are discontinued by the manufacturer, such an IDV is decided mutually by the insurance company and you, the policyholder. Thus, the cover for zero dep car insurance after 5 years is not available generally.

Can we get zero depreciation insurance?

Yes, as long as your car is below 5 years old – you can opt for a zero depreciation add-on in your comprehensive car insurance policy. Yes, as long as your car is below 5 years old – you can opt for a zero depreciation add-on in your comprehensive car insurance policy.

Is it worth taking zero depreciation?

Zero-depreciation is a good deal even if you have to pay a little extra. It will pay for itself many times over when you meet with an accident. You will be glad you decided on the zero-depreciation policy when you are presented with a bill from the garage.

Can I get zero depreciation insurance beyond 7 years?

Best-Suited for –The Zero Depreciation cover is only applicable to new cars up to five years old. If your car is more than five years old, you should consult your insurer for a suitable course of action. For cars older than 5 years, zero-dep is offered but only from offline sources.

Can I get a zero depreciation car insurance after 7 years

22 related questions found

Which company gives zero DEP insurance after 10 years?

IFFCO Tokio offers its zero depreciation cover for all cars not older than 10 years.

How many times can claim car insurance?

Generally, there are no restrictions on the number of claims you can make under the car insurance policy in a year. However, one should remember that the car insurance claim affects the NCB (No Claim Bonus). Repeated claims in a year may also increase the premium when you renew the policy.

Which car insurance company provides zero depreciation after 5 years?

TATA AIG Zero Depreciation Cover

The zero depreciation add-on, also known as bumper to bumper add-on and nil depreciation add-on, provides coverage against the depreciation applicable on your car and its parts.

What is not covered in zero DEP insurance?

Zero depreciation car insurance policy offers 100% coverage for all fibre, rubber and metal parts without deduction of depreciation. It does not cover engine damage due to water ingression or oil leakage. Any mechanical breakdown, oil change or consumables are also not covered in this policy.

Can I get a zero depreciation car insurance after 5 years Quora?

Yes you can get zero depreciation car insurance policy after 5 year of age.

How many times can you claim zero DEP?

You can claim zero depreciation car insurance a maximum of two times during the tenure of your car insurance plan.

Can we do Bumper to Bumper insurance after 5 years?

Since the depreciation of a car is directly related to its age and usage, the older a car, the higher the premium that you shall have to shell out for its bumper to bumper cover. It is important to note here that you cannot purchase bumper to bumper insurance for cars that are older than 5 years.

Is zero depreciation Same as bumper to bumper?

Zero depreciation cover and bumper to bumper cover are the same thing. They are just two names for a car insurance add-on which insures a policyholder against the depreciation cost of his/her insured's car. Zero Depreciation or Bumper to Bumper plan covers the full cost of replacement.

Is painting covered in car insurance?

Various factors go into deciding whether you can or should claim insurance on your car body/paint repairs namely: Extent of damage: as a thumb rule, consider insurance claims only if repair and painting is needed for more than 2 body panels (or Rs 6000+ in repair charges)

Is clutch plate covered under insurance?

The policy does not cover damage to the car engine due to water ingression or oil leakage, and standard wear and tear to components such as tyres, clutch plates, bearings, etc.

Which insurance company provides zero depreciation after 7 years?

At present, two motor insurance companies in India offers zero depreciation cover for 7-year-old. Royal Sundaram General Insurance Company and Edelweiss General Insurance Company offers zero dep cover for 7-year-old cars under their car insurance plans.

Is ACKO insurance reliable?

Is ACKO General Insurance reliable? Yes, ACKO General Insurance is reliable when it comes to insurance purchase or claims. The company has an impressive claim settlement ratio of 95% for FY 19-20. The claim settlement is quick and hassle-free as the entire process can be completed online.

Why car insurance claims are rejected?

Non accidental loss of vehicle – In case your vehicle is damaged without facing an accidental scenario or natural calamity your claim might get rejected, as insurance companies settle claims or offer cashless benefits only in case of circumstantial damage and no claims for repair or wear/tear will be entertained.

How many insurance claims is too many?

Filing too many claims in a short amount of time can cause issues with your insurer, however. In general, there is no set amount to home insurance claims you can file. However, two claims in a five year period can cause your home insurance premiums to rise.

How many claims is too many for car insurance?

Although there is no limit to how many car insurance claims you can file per year, you will find that most car insurance companies will notify you that your policy could be dropped soon if you file two claims within two years. Once you file a third claim, there is a chance that the insurer will drop you.

Is depreciation reimbursement same as zero depreciation?

Depreciation Reimbursement is when insurer does not deduct any depreciation amount from spare parts while reimbursing. For Example: In HDFC ERGO under the Zero Depreciation like loss to rubber, nylon, glass etc are fully payable except tyres and batteries.

How long is bumper to bumper insurance?

The coverage is offered to cars of up to 5 years of age. The insurance cover is provided to cars of up to 15 years of age. A limited number of claims are allowed under this add-on cover. An unlimited number of claims are allowed under this car insurance cover.

What is nil depreciation plus national insurance?

Less liability: The Zero Depreciation add-on cover offered by National Insurance saves you from bearing the cost of depreciation during a claim settlement. This means that the company will have to pay the claim amount without deducting the depreciation from it. This enables you to get a higher claim amount.