Navi Zero Depreciation Add-on

With time depreciation reduces the market value of every car. It is a default deduction and therefore, it is considered by every car insurance company during the settlement of the claim. The insurance providers generally make deductions for the cost of depreciation from the car insurance claim amount at the time of claim settlement. If you wish to avoid this reduction, you should include a zero depreciation cover in your standalone own damage car insurance policy or a comprehensive car insurance policy. It is an add-on that precludes the loss of claim amount in lieu of depreciation which ultimately helps you get the maximum amount of claim irrespective of the depreciation factor. In simple terms, it provides repair and replacement of the depreciable parts of the insured’s car free of cost.

Benefits of Navi Zero Depreciation Cover

1. Higher Claim Amount: With the Zero Depreciation Cover offered by Navi General Insurance, the policyholders can get the maximum amount of claim possible. With the inclusion of zero depreciation cover in the policy, no depreciation charge gets deducted due to which policyholders can request a higher amount of claim from their insurance providers.

2. Helps In Saving Money: The Navi Zero Depreciation add-on cover compensates the expenses of repair and replacement of the depreciable parts of the car of the insured person. Therefore, the policyholders can easily save money which otherwise they would have to spend on repairing and replacing the depreciable parts of the car parts.

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

Navi Zero Depreciation add-on cover holds a range of benefits which can be availed under the following conditions:

• The age of the car must not be more than 3 years
• This add-on cover can be claimed only twice a policy year
• No coverage will be provided for repair and replacement required due to wear and tear
• Expenses incurred due to the car's total loss, electrical or mechanical breakdown will not be covered.