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Disclaimer: Actual Premium might vary basis your location, age and number of members

Cholamandalam Zero Depreciation Add-on

Every commodity loses value over its age and so does your car. The continuous devaluation of a commodity is known as depreciation. Apart from reducing your car’s market value, depreciation also results in a reduction in the insurance claim amount of your car. This is because at the time of a claim, the insurer factors the depreciation cost in the claim amount.

Thus, even if your car is only 3-4 years old, your car will be valued at a price 25% less than the invoice price due to depreciation and you will receive a relatively lower claim amount. However, you can do away with the burden of bearing depreciation cost by purchasing the Cholamandalam Zero Depreciation add-on.

The zero depreciation add-on cover can only be availed with a comprehensive car insurance plan.

Cholamandalam Zero Depreciation Add-on Benefits

Higher Claim Amount: The zero depreciation add-on cover exempts the policyholder from bearing the cost of depreciation. It makes the insurer liable to pay for the applicable depreciation. Thus, the policyholder is able to get a higher claim amount.

Multiple Claims Even For Aged Vehicles: The policyholder can file 2 claims during the tenure of a policy. Also, the cover is available for cars up to 5 years of age. Both these things mean that all new car owners can make a total of 10 claims in a span of 5 years, if opted for 1-year tenure policy.

​Depreciation Rate Applicable on Car Without Zero Depreciation Cover

Age of Car

Rate of Depreciation

Under 6 months

Nil

6 months to 1 year

5%

1-2 years

10%

2-3 years

15%

3-4 years

25%

4-5 years

35%

5-10 years

40%

Above 10 years

50%

Disclaimer: Battery / Plastic / Nylon / Rubber parts -> 50% covered; Fiberglass -> 70% covered, Wooden & Metallic parts -> Depreciated basis age of vehicle (normal)

Conditions for Zero Depreciation Add-on Cover

  • A maximum of two claims are permissible during the policy period for vehicles aged not more than 5 years.
  • The company will bear a maximum liability of Rs 20,000 per part to be replaced for vehicles with age not more than 5 years.

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Cholamandalam Car Insurance User Reviews

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167 User reviews
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    Third-party car insurance from InsuranceDekho is a sensible choice for legal protection. The Chola MS Car Insurance Policy ensures that I comply with the law while keeping my expenses in check for my Skoda car.

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    S
    By Samisha Boudh
    On: November 8, 2023
  • Economical Premiums

    I found that the premiums for the zero-depreciation Chola MS Car Insurance Policy from InsuranceDekho are economical, making it a valuable investment for my MG car.

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    D
    By Dheraj Mangla
    On: November 7, 2023
  • Ease of Use

    The premium calculator from InsuranceDekho is incredibly easy to use. It's designed with the customer in mind, making it accessible to all. With its help, I could purchase the Chola MS Car Insurance Policy for my Renault car.

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    N
    By Neel Pawani
    On: October 18, 2023
  • Comprehensive Protection

    Opting for zero-depreciation claim for the Chola MS Car Insurance Policy with InsuranceDekho provides me with comprehensive protection, ensuring that my investment in my Maruti car is safeguarded.

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    S
    By Sakshi Chand
    On: October 16, 2023
  • Responsive Customer Support fo...

    I recently bought the Chola MS Car Insurance Policy for my Maruti car. And I must say that the customer support team at InsuranceDekho is responsive and ready to assist with any issues related to cashless garage repairs.

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    K
    By Kenisha Saraf
    On: October 11, 2023
  • A Trustworthy Partner

    In summary, InsuranceDekho has proven to be a trustworthy partner when it comes to claim the Chola MS Car Insurance Policy for my Honda car. Their efficient and transparent claims process ensures that you're well taken care of during stressful times.

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    N
    By Nikita Sethi
    On: October 3, 2023
  • Customized Premiums

    I appreciated InsuranceDekho's premium calculator for allowing me to customize my coverage for the Chola MS Car Insurance Policy to match my needs and budget for my Mercedes-Benz. It's a flexible tool that caters to individual preferences.

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    V
    By Vikram Thakur
    On: September 27, 2023
  • Peace of Mind with Zero Dep In...

    I opted for a Zero Dep Chola MS Car Insurance Policy through InsuranceDekho, and it's been a game-changer. With this policy, I don't have to worry about the depreciation of car parts during a claim. It's like having a safety net for my Ford car. Highly recommended for car owners who want complete peace of mind.

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    By Priyal Randhawa
    On: September 25, 2023
  • Prompt Settlement at Cashless ...

    I recently had my Audi car repaired at one of InsuranceDekho's cashless garages, and the settlement process of the Chola MS Car Insurance Policy was incredibly prompt. I was back on the road in no time.

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    By Pihu Balani
    On: September 20, 2023
  • Comprehensive Coverage for a W...

    InsuranceDekho's comprehensive coverage protects my Nissan car against a wide range of risks, from accidents to natural disasters. The Chola MS Car Insurance Policy is a reliable safety net.

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    M
    By Mili Dhingra
    On: September 15, 2023
  • Variety of Payment Options

    InsuranceDekho offers a variety of payment options for the renewal of my Chola MS Car Insurance Policy. Whether I prefer online payment, credit card, or other methods, the flexibility is appreciated. With this feature, I am relaxed that my Skoda car is always secured,

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    R
    By Rupal Shah
    On: September 13, 2023
  • Responsive Customer Support

    During my claim for my BMW, InsuranceDekho's customer support was responsive and knowledgeable. They guided me through each step and answered all my questions regarding my the Chola MS Car Insurance Policy.

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    D
    By Dev Sharma
    On: September 11, 2023
  • Value-Added Benefit

    Having access to Cashless Garages is a value-added benefit of my Chola MS Car Insurance Policy for my Ford car with InsuranceDekho. It's a feature that sets them apart and shows their commitment to customer satisfaction.

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    By Sanwar Bahl
    On: September 7, 2023
  • Transparent Claim Settlement

    Zero Depreciation with InsuranceDekho’s Chola MS Car Insurance Policy ensures transparent claim settlement. I know exactly what to expect in terms of payout, without any surprises related to depreciation for my Ford car.

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    A
    By Ananad Chaudhary
    On: September 5, 2023
  • Satisfied and Secure with Comp...

    I am a satisfied and secure customer of InsuranceDekho's Chola MS Car Insurance Policy’s comprehensive benefit. Their coverage options and service have exceeded my expectations for my Chevrolet car.

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    S
    By Sangeetha Paswani
    On: August 28, 2023
  • A Simple and Stress-Free Renew...

    Renewing my car insurance policy with InsuranceDekho was a simple and stress-free experience. I had no issues throughout the entire process of renewing my Chola MS Car Insurance Policy for my BMW.

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    By Manan Khukreja
    On: August 24, 2023
  • Professional and Knowledgeable...

    The claims team at InsuranceDekho was professional and knowledgeable. As my Kia car was secured under the Chola MS Car Insurance Policy, they guided me through the entire process with expertise.

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    By Aarti Sharma
    On: August 22, 2023
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    InsuranceDekho's comprehensive coverage offers excellent value for money. The benefits and coverage provided the Chola MS Car Insurance Policy for my Tata car are worth every penny.

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    By Vishali Sehgal
    On: August 16, 2023
  • Efficient Customer Support for...

    InsuranceDekho's customer support team was efficient and helpful during my third-party claim on my Chola MS Car Insurance Policy that I filed for my Skoda car. They guided me through the process and answered my questions.

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    P
    By Poonam Sachdev
    On: August 11, 2023
  • Effortless Policy Quoting

    The premium calculator on InsuranceDekho's website made policy quoting a breeze. Within minutes, I had multiple quotes to choose from. It saved me a lot of time and effort to decide and buy the Chola MS Car Insurance Policy for my Tata Safari.

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    M
    By Maninder Kaur
    On: August 9, 2023
  • Professional and Courteous Cla...

    The claims team at InsuranceDekho was professional and courteous. They handled my claim for my Chola MS Car Insurance Policy that I filed for my Honda car with empathy and made the whole process less stressful.

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    S
    By Sunil Gandhi
    On: August 7, 2023
  • Smooth Policy Renewal

    Renewing my car insurance through Insurance Dekho's premium calculator was a breeze. It reminded me on time and helped me renew my Chola MS Car Insurance Policy for my Land Rover without any complications.

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    By Heena Ahmed
    On: August 1, 2023
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    The cashless facility offered by InsuranceDekho’s Chola MS Car Insurance Policy for repairs for my Toyota car was a great help. The process of coordinating with them was very smooth.

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    By Shradha Motwani
    On: July 28, 2023
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    InsuranceDekho's renewal process allowed me to customize my Chola MS Car Insurance Policy to suit my needs perfectly. I could add or remove coverage options for my Honda car effortlessly.

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    On: July 24, 2023
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    By Ruma Dutta
    On: July 20, 2023
  • Prompt Assistance

    When my MG car broke down, InsuranceDekho's cashless garage under the Chola MS Car Insurance Policy provided prompt assistance. They arranged for a towing service and helped me through the entire claim process.

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    By Jeet Kapila
    On: July 18, 2023
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    By Anaya Chhadda
    On: July 14, 2023
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    On: July 12, 2023
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    InsuranceDekho offered affordable premiums for their zero depreciation car insurance. The additional cost was justified for the Chola MS Car Insurance Policy by the enhanced coverage that protected my Porsche from the impact of depreciation on claim settlements.

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    By Jatin Mittal
    On: July 10, 2023
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Cholamandalam Reviews

Cholamandalam Zero Depreciation Cover FAQs

  • How much the Cholamandalam zero depreciation add-on costs?

    The cost of zero depreciation add-on cover depends on the sum insured and the age of the car. Also, irrespective of the cost, the company is liable to pay only a maximum of Rs 20,000 per part for cars not older than 5 years.

  • Is the zero depreciation add-on cover applicable in case of total loss/theft of the insured vehicle?

    No, the zero depreciation add-on cover is not applicable in case of total loss/theft of the insured vehicle. You must have the Invoice Cover add-on to get full showroom price of the vehicle in case of total loss or theft.

  • Are engine parts covered the zero depreciation add-on?

    No, the zero depreciation add-on cover does not offer protection for engine damage. To safeguard your car’s engine against losses/damages, you need to opt for the Engine Cover add-on.
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