National Zero Depreciation Add-on

Depreciation is a natural process and like all other things it affects your car too. With age, your car’s market value depreciates due to wear and tear. And this cost of depreciation is borne by the car owner at the time of a claim settlement in the absence of a zero depreciation cover.

However, by opting for a zero depreciation you can safeguard yourself from the liability of paying for the cost of depreciation. The zero depreciation add-on shifts the liability of bearing depreciation cost from car owner to the insurer.

Benefits of National Zero Depreciation Add-on

Less liability: The Zero Depreciation add-on cover offered by National Insurance saves you from bearing the cost of depreciation during a claim settlement. This means that the company will have to pay the claim amount without deducting the depreciation from it. This enables you to get a higher claim amount.

Extended Coverage: The Zero Depreciation add-on cover provides a depreciation coverage for all parts of your car at 100%, except tyres, tubes and batteries which get insured at 50%.

Depreciation Rate Applicable on Different Parts of Car Without Zero Depreciation Cover

Conditions of Zero Depreciation Add-on Cover

• Available for cars not older than 5 years
• Policyholder is allowed to file only 2 claims during a policy tenure
• It cover tyres, tubes and batteries at 50%. All the other parts are covered at 100%.
• Premium depends on the IDV and age of the insured vehicle.