Hdfc Ergo Zero Depreciation Add-on
- CASHLESS GARAGES 6,800
- CLAIMS SETTLED 89%
- ZERO DEP. CLAIMS UNLIMITED
- Maximum Cashless Garages
- Over Night Vehicle Repairs
- 24x7 Roadside Assistance
- Quick Claim Settlement
Calculate Your Car Insurance Premium Online
Select your car brand
Which city is your car registered in?
When did you buy your car?
HDFC ERGO Car Insurance Zero Depreciation
It hurts when your insurance company pays the claim amount after factoring in for the depreciation on your car. However, opting for the Zero Depreciation add-on cover ensures that your insurer offers you the complete coverage amount, i.e., full cover for all the parts of your car sans deduction of the depreciation amount. This means that in the event of your car getting damaged due to any reason including vehicular collision, the insurance company will pay in full the entire cost of your car. This does not cover engine damage caused due to an oil spill or waterlogging. Also, you can buy this cover only if your car is equal to or less than five years old. The premium charges for this cover are high, which means that the policyholders must pay an amount equivalent to 15-20 percent over and above the standard premium rates.
Benefits of HDFC Ergo Zero Depreciation Add-on Cover
Highlighted below are some of the benefits of buying a zero depreciation add-on cover along with your standalone own damage/ comprehensive car insurance plan:
- Increased Protection: A zero depreciation add-on cover offers additional protection to the existing car insurance plan. This add-on cover increases the coverage which is offered under a car insurance plan. Costs incurred because of replacement or repair of car’s insured parts are settled without considering the depreciation value.
- Affordable: Although, by including a zero depreciation add-on cover can increase the premium amount payable towards a car insurance plan, however, it is an extremely beneficial add-on cover as it offers enhanced coverage. With the help of this add-on cover, a policyholder can save money when availing a claim for a car insurance plan as this add-on cover lets the policyholder receive the claim amount without including depreciation cost.
- Claim Amount Without Depreciation: When you include a depreciation cover for your car insurance plan it enhances the coverage of the existing car insurance cover. This add-on assists the policyholder in reducing the chances of paying depreciation expenses from their own pocket when filing a claim for a car insurance plan.
Depreciation Rate Applicable on Car With And Without Zero Depreciation Add-on
Age of Car
Rate of Depreciation Without Zero Depreciation Cover
Rate of Depreciation With Zero Depreciation Cover
Under 6 months
6 months to 1 year
Above 10 years
Rate of Depreciation Without Zero Depreciation Cover
Rate of Depreciation With Zero Depreciation Cover
Parts made of glass
Rubber/nylon/plastic parts, tyres and tubes, batteries, paint work and airbags
Parts made of fiberglass
What is Included under a HDFC Ergo Car Insurance Policy with Zero Depreciation Cover?
Following are covered under HDFC Ergo car insurance policy with zero depreciation cover:
- A zero depreciation add-on cover offers coverage towards partial damages to tyres and battery.
- Replacement or repair costs incurred by the policyholder during the claim settlement would be offered to the policyholder.
- Compensation/coverage for depreciable car parts like rubber, plastic parts, nylon and fiber is offered to the policyholder.
What is not Included under a HDFC Ergo Car Insurance Policy with Zero Depreciation Cover?
Following are not covered under HDFC Ergo car insurance policy with zero depreciation cover:
- Total loss or damage of the insured car is not covered under a zero depreciation add-on.
- Regular wear and tear or ageing shall not be covered under a car insurance plan with zero depreciation add-on.
- Loss or damage to any uninsured items like tyres, gas kits or a bi-fuel kit is not covered.
- Own damages incurred by the insured car because of mechanical failure or fault is not covered.
Factors Affecting HDFC Ergo Zero Depreciation Cover
Before you opt for a zero depreciation cover, you must keep certain factors in mind.
- You can buy zero depreciation cover only if your car is not more than five years old.
- Replacement of only the depreciated value of the car parts is possible in case of basic zero depreciation car insurance cover.
- Damage caused to the car’s batteries or other parts can also be recovered. However, the coverage is limited as 50 percent depreciation is deducted on car batteries while 30 percent is deductible on other parts of the car made of plastic, rubber or nylon.
- Seeking the benefits of zero depreciation cover involves paying higher premium amounts. Therefore, you must consider buying this only if you are ready to payhigh premium.
HDFC ERGO Car Insurance Claim Process
Download the claim formDownload the claim form from the insurance company’s website.
Complete DetailsSubmit correct and complete details in the claim form.
Submit NEFT detailsSubmit NEFT details in the claim form along with a cancelled cheque.
KYC DetailsDownload the KYC form from the company’s site. Fill in the KYC details and submit a copy of any of the KYC documents listed in the form for all claims equal to or more than Rs. 1 lakh.
Sit back RelaxThe amount will be credited to your account within 14 days of form submission.
Explore Hdfc Ergo Car Insurance
Must Read Articles before buying Hdfc Ergo Car Insurance
Finding the Best Car Insurance Quotes: A Step-by-Step GuideIt might be an expensive error to keep paying your vehicle insurance payments to the same company for a long period.
Reasons to Renew Your Car Insurance PolicyThe Benefits of Renewing Your Car Insurance Policy on Time
Total Loss in Car Insurance: Everything You Need to KnowLearn everything there is to know about the total loss in auto insurance
How Does India's E-Challan System WorkWith the advancement of technology, traffic infringement laws have gotten harsher.
All About Car Insurance's Outstation Emergency CoverageUnexpected car accidents might not only ruin your day, but they can also put you in danger.
HDFC ERGO Car Insurance User Reviews
- Zero Depreciation
- Most Helpful
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
- Add On
Through the HDFC Ergo Car Insurance Policy, I got my own damage coverage, and it provided excellent protecti...Read More
While looking for a car insurance policy, I learned about car insurance premiums and how they are calculated...Read More
I've been looking for car insurance and I have to say, InsuarnceDekho has the most competitive premiums and pr...Read More
I've been a customer of HDFC ErgoCar Insurance Policy for a few years now and the coverage I got for my Ford...Read More
I had incured my Renault Duster, under the HDFC Ergo Car Insurance Policy from InsuranceDekho. During the re...Read More
I had insured my Toyota under the HDFC Ergo Car Insurance Policy from InsuarnceDekho. The plan has me and my...Read More
When I purchased the HDFC Ergo Car Insurance Policy for my newly bought Honda City, I was happy to see that ...Read More
On the InsuranceDekho portal, I read some high-end responses and good ratings from their current customers. ...Read More
Fortunately, my Tata car was insured under the HDFC Ergo Car Insurance Policy on the Inusurace Dekho website...Read More
While looking to renew my HDFC Ergo Car Insurance Policy for my Hyundai car on the InsuranceDekho website, I...Read More
545 Hdfc Ergo Cashless Garages in India
Insurance Products by Hdfc Ergo General Insurance
HDFC ERGO Zero Depreciation Cover FAQs
What factors affect the premiums charged towards zero depreciation cover?
The premiums charged towards zero depreciation cover is 15-20 percent more than the standard premium rates. The insurance company calculates the increased premium charges based on factors including:
- Age of the car
- Car model
- Registration locality of your car
Is the claim settlement process different in zero depreciation insurance policy? What is the restriction on the number of claims that can be made?
Zero Depreciation cover is usually bought by new car drivers who are yet to master their driving skills. However, this cover is based on the concept of depreciation that gets deducted from the cover amount. It is important to note that the depreciation on any car is calculated only once a year while new drivers are prone to meet with numerous accidents during the first year. To cut down on the multiple claims made by the insured, the insurance company allows it’s zero depreciation insurance policyholders to make claims only once a year.
Can I seek zero depreciation cover even if my car is more than five years old?
Many insurance companies are reluctant to allow zero-depreciation insurance beyond five years. However, you may still consider seeking approval of the insurance company before paying for this cover. The insurer after looking at your claim history or out of customer loyalty may allow you to avail the benefits of this cover after paying additional premiums.
How is the zero depreciation cover different from the standard cover that one buys?
The biggest difference lies in the amount of coverage settled between the insurance company and the insured. Under the standard comprehensive insurance cover, the insurance company agrees to settle the coverage amount based on the “Insured Declared Value” of the vehicle. Having the “Zero Depreciation Cover” means that the insurer is liable to pay the full coverage amount irrespective of the depreciation amount.
When should you buy a zero depreciation cover?
You must buy this cover if:
- You are driving a new car
- Your is an expensive luxury car
- You live in a densely populated area prone to accidents
- If you have fitted expensive spare parts in your car
Why to buy from InsuranceDekho?
- Instant policy # within 5 mins
- More than 45 Lac happy customers
- Claim Support available all 7 days of the week
HDFC ERGO Car Insurance Contact Details
InsuranceDekho7551196989Mon to Sun 10 AM to 7 PM
HDFC ERGO Contact Details022 6234 6234Mon to Sat 10:00 AM to 7:00 PM
Car Insurance News
Which Car Insurance is Best in India: Comprehensiv...
Wondering which car insurance is better third-party or compr...09 May 2023
How to Buy Car Insurance Online?
Car insurance is a mandatory requirement in India. It is qui...08 May 2023
How to Search Vehicle Owner Details by Number Plat...
Read on to understand how to search vehicle owner details by...05 May 2023
Car driving tips for beginners
listed below are some of the car driving tips for beginners.03 May 2023
Traffic Rules and Fines in West Bengal
Read on to understand all about the traffic rules that you n...26 April 2023