IFFCO Tokio Zero Depreciation Cover
Your car is an asset and like all the other assets it also loses value (depreciates) over time due to continuous wear and tear. Depreciation not only decreases your car’s value, but also slices an equal sum from your insurance claim amount. IFFCO Tokio understands this and thus offers a Zero Depreciation add-on cover with the purchase of a standard comprehensive car insurance policy.
The zero depreciation add-on cover protects the policyholder from the liability of bearing the depreciation at the time of claim settlement. This increases the claim amount disbursed to the policyholder. The add-on is available for cars up to 10 years of age and proves to be an extremely cost-effective add-on in the long run.
Zero Depreciation add-on cover entitles you to get full claims without factoring in depreciation on your car and its parts. It actually shifts the burden of depreciation from the policyholder to the insurer. Let us read the benefits of Zero Depreciation car insurance policy.
Benefits of Zero Depreciation Add-on Cover
Zero depreciation add-on cover offers the following cost-effective benefits that directly affect the claim amount:
Higher Claim Amount - As clear by the definition itself, the zero depreciation add-on cover entitles you to receive the claim amount without any subtraction on account of depreciation of your car of its parts. Under the zero depreciation add-on, the cost of depreciation is borne by the insurer.
Eligible for Cars Up To 10 Years of Age - The Depreciation Waiver add-on offered by IFFCO Tokio can be availed for cars up to 10 years of age. Hence, even older cars (not older than 10 years), which have high depreciation, can be covered with this add-on.
Unlimited Claims - Unlike other insurers, IFFCO Tokio allows unlimited claims under zero depreciation cover.
- Save upto 75%*Lowest Car Premiums
- 11.5 Lakh+Happy Customers
- Claim Support7 days a week
*TP price for less than 1000cc four wheeler. All savings/offers are provided by the Insurers which are subject to modification. Terms and conditions apply
Depreciation Rate Applicable on Car Without Zero Depreciation Add-on
Age of Car
Rate of Depreciation
Under 6 months
6 months to 1 year
Above 10 years
Depreciation Rate Applicable on Different Parts of Car Without Zero Depreciation Cover
Rubber / nylon / plastic parts, tires and tubes, batteries, paint work and airbags
Parts made of fiber glass
Parts made of glass
Calculate Your Car Insurance
Explore Iffco Tokio Car Insurance
IFFCO Tokio Car Insurance User Reviews
- Most Helpful
- Cashless Garages
- Add On
525 Iffco Tokio Cashless Garages in India
IFFCO Tokio Zero Depreciation Cover FAQs
My car is 7 years old. Am I eligible for Zero Depreciation cover of IFFCO Tokio?
Yes, your car is eligible for zero depreciation add-on cover. IFFCO Tokio offers its zero depreciation cover for all cars not older than 10 years.
Do I need to renew the zero depreciation cover separately?
Zero depreciation add-on cover requires payment of an additional premium along with the standard premium. However, the payment is not made separately. The total premium amount for the auto insurance policy includes all the costs.
How much do I need to pay during the claim settlement if I have zero dep add-on cover?
By opting for the zero depreciation add-on, you just need to pay your part of liabilities excluding the applicable depreciation. The liability for the depreciation amount is borne by the insurer.
What all factors are responsible for determining the premium of the zero depreciation cover?
Factors that are responsible for determining the premium of the zero depreciation add-on are as follows:
- Age of the Car
- Model of the Car
- Registered location of the Car, etc.
At what time can I include Zero depreciation cover to my car insurance plan?
You can add zero depreciation cover to your basic car insurance plan either at the time of purchase of the policy or renewal of the existing plan.
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
Car Insurance News
- What Is Non-renewal And Cancellation of Policy in ...
There are two important terms in car insurance that you shou...06 February 2023
- How To Buy New Car Insurance Online?
In order to purchase a car insurance plan online, you need ...02 February 2023
- How to Get the Best Car Insurance Quote?
Read on for a detailed guide on how to get the best car insu...01 February 2023
- 10 Must-have Accessories To Have When Going On A L...
Read on to know all about these car accessories for long dri...31 January 2023
- Guide To Choose The Right Car Insurance Plan
Read on to learn more about how to easily choose the right c...30 January 2023