Future Generali Zero Depreciation Add-on

Depreciation refers to continuous devaluation of a commodity over its age. Your car, being a commodity, is also subject to depreciation and thus loses value over time. Depreciation of your car reduces the compensation amount which you receive at the time of settlement of a car insurance claim. However, you can do away with this subtraction by purchasing the Future Generali zero depreciation add-on cover. If you opt for it, the insurer becomes liable to bear the cost of depreciation at the time of claim settlement.

Benefits of Future Generali Zero Depreciation Add-on Cover

• Higher Claim Amount: With the zero depreciation add-on cover, the policyholder can enjoy higher claim amounts. This is because, the add-on shifts the liability of bearing the cost of depreciation from the policyholder to the insurer.
• Multiple Permissible Claims: The benefits of the Future Generali zero depreciation cover can be enjoyed 2 times in each policy tenure.

Depreciation Rate Applicable on Car With And Without Zero Depreciation Add-on

Below are some factors which affects the zero depreciation add-on cover:

• The zero depreciation cover is only for cars up to 5 years of age.
• A maximum of 2 claims is permissible under the zero depreciation cover during a policy tenure.
• The add-on cover is not applicable in case of constructive total loss (CTL) or theft of the insured vehicle.