Reliance Zero Depreciation Add-on

Your car, just like any other commodity loses value over time, which is known as depreciation. This even applies during claim settlement, where the insurance company factors the depreciation amount while settling the claim. This results in a low claim amount even if your policy is active and you have paid premiums on time.

However, opting for Nil Depreciation cover along with your Reliance General comprehensive car insurance policy shifts the liability of bearing depreciation from you to your insurer. This means that you will get a higher claim amount, which would not have been possible otherwise. Nil Dep add-on covers, depreciation of all parts of your car except the tyres and tubes.

Benefits of Reliance Zero Depreciation

An extra premium won’t hit hard on your pockets than substantial deduction of depreciation from the claim amount. Nil Depreciation add-on cover from Reliance General saves you from this deduction in the following ways:

• Nil Depreciation add-on cover over the standard comprehensive car insurance policy offers you a higher claim amount. This entitles the company to sanction the claim without deducting depreciation from it.

• This add-on covers, depreciation of all parts of your vehicle from fibreglass to the bonnet, seats and carpet. However, the add-on cover does not include tyres and tubes, which, anyhow is not enough to raise any complaint.

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

The Reliance zero depreciation cover is influenced with various benefits, which are as follow:

• This cover is valid for only two claims during the policy tenure.
• Cars with a maximum age of 2 years can avail this zero depreciation cover.
• Selected makes and models are eligible for this cover, hence, read the policy carefully.
• Damages caused due to uninsured peril, normal wear and tear are excluded from this cover.