Liberty Zero Depreciation Add-on

Like all other commodities your car is also subject to depreciation. Depreciation does not only lowers down your car’s market value but also affects the amount which you receive at the time of claim settlement. In the absence of this add-on in your comprehensive policy, the insurer is not liable to bear the cost of depreciation for the replaced parts of your car. This results in lower claim amounts during the claim settlement.

The Liberty zero depreciation add-on cover allows the policyholder to get full claim amount without the subtraction of any depreciation cost from it.

Benefits Of Liberty Zero Depreciation Add-on Cover

• Higher Claim Amounts: The zero depreciation add-on cover bundled with the standard comprehensive car insurance policy allows the policyholder to enjoy higher claim amounts. The cover makes the insurer liable to bear the cost of depreciation and not the policyholder.
• Multiple Claims: Liberty General Insurance allows you to file up to 2 claims with a zero depreciation cover during the policy tenure.

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

Liberty Zero Depreciation Add-on Cover comes with multiple benefits which are affected by the following factors:

• A maximum of 2 claims is admissible in a policy period.
• It is not applicable for theft, CTL and TL of the insured vehicle.
• The damaged vehicle must be repaired at the company authorised workshop.