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Universal Sompo Zero Depreciation Add-on

Depreciation is the devaluation of a car’s market price due to wear and tear over time. It not only diminishes the market value of your car but also decreases the claim amount as the cost of depreciation of your car and its parts is borne by the you at the time of a claim settlement. However, if you opt for a zero depreciation add-on cover, the insurer becomes liable to compensate for the depreciation of replaced or modified parts.

Universal Sompo Zero Depreciation Add-on cover allows its policyholders to get higher or full claim amount without factoring in the depreciation charges applicable on the insured car and its parts.

Benefits Of Universal Sompo Zero Depreciation Insurance

Higher Claim Amounts: The zero depreciation add-on cover purchased along with the Universal Sompo comprehensive car insurance policy allows the insured policyholders to enjoy higher claim amounts. As by opting for this add-on cover policyholders get exempted from bearing the depreciation charges by shifting the liability to the insurer liable.

Availability of 2 Claims: Policyholders can file a maximum of 2 zero depreciation claims during the tenure of a comprehensive car insurance policy by opting for a nil depreciation add-on cover.

Zero Depreciation Cover vs Normal Insurance

Age of Car

Rate of Depreciation Without Zero Depreciation cover

Rate of Depreciation With Zero Depreciation cover

Under 6 months

Nil

0%

6 months to 1 year

5%

0%

1-2 years

10%

0%

2-3 years

15%

0%

3-4 years

25%

0%

4-5 years

35%

0%

5-10 years

40%

0%

Above 10 years

50%

0%

Part of Car

Rate of Depreciation Without Zero Depreciation cover

Rate of Depreciation With Zero Depreciation cover

Paint work /Rubber/nylon/ plastic parts, tires and tubes, batteries and airbags parts

50%

0%

Fibre glass parts

30%

0%

Glass parts

Nil

0%

Universal Sompo Zero Depreciation Add-on Cover Conditions

  • A maximum of 2 claims can be filed during the policy period.
  • It is not applicable in cases of theft, constructive total loss, total loss of the insured vehicle.
  • This cover is available only for cars aged up to 5 years..
  • The cover is applicable only if the damages sustained by the vehicle are repaired at a Universal Sompo authorized garage.

Explore Universal Sompo Car Insurance

Must Read Articles before buying Universal Sompo Car Insurance

Universal Sompo Car Insurance User Reviews

4.8
Rating based on
299 User reviews
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What users are saying
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  • Good discount and multiple opt...

    Easy process to buy policy online at best prices. I am impressed by the options available and customization possible at the website.

    Read More

    D
    Ford Freestyle Bhuj (Kachchh)
    By DEEPAK G RAMNANI
    On: May 21, 2023
  • Availability of add-on covers

    While buying the Universal Sompo car insurance plan for my BMW X5, I came across the add-on covers available on their website. I read about the Zero Depreciation Add-on cover, which helps in mitigating the burden of bearing the depreciation cost of the vehicle. I loved the facility. And, the plan I purchased is amazing in itself.

    Read More

    A
    By Ashish Batla
    On: May 18, 2023
  • Reminder feature

    The InsuranceDekho website holds a reminder feature which is very helpful. A month ago, I bought the Universal Sompo car insurance plan for my Mercedes Benz from their website, which is a very helpful plan and covers all my requirements. This reminder feature keeps on reminding me to renew my policy from time to time.

    Read More

    L
    By Lucky Kumar
    On: March 1, 2023
  • The website has very informati...

    The InsuranceDekho website is informative. While buying the Universal Sompo car insurance plan for my BMW, I read about IDV and its importance. It was very well explained. Loved the plan for all its features and benefits.

    Read More

    D
    By Dhruv Batra
    On: February 9, 2023
  • Transparent policy issuance

    While paying the premium amount from Universal Sompo car insurance policy to insure my Volkswagen Polo car through InsuranceDekho, I did not have to pay any hidden charges. I paid the exact amount as shown on the screen earlier. Glad to have this level of transparency.

    Read More

    N
    By Nipun Rangnekar
    On: February 3, 2023
  • Helping team

    I visited InsuranceDekho to buy an insurance policy for my Kia Sonet. I was very confused about which plan best suits my needs so I called the InsuranceDekho team, they understood my confusion and recommended some good car insurance plans. I compared the plans with the help of information on the website and finally purchased a Universal Sompo car insurance policy from InsuranceDekho.

    Read More

    V
    By Varun Gupta
    On: January 24, 2023
  • Availability of add-on covers

    While buying the Universal Sompo car insurance plan for my BMW X5, I came across the add-on covers available on their website. I read about the Zero Depreciation Add-on cover, which helps in mitigating the burden of bearing the depreciation cost of the vehicle. I loved the facility. And, the plan I purchased is amazing in itself.

    Read More

    P
    By Prashant Batra
    On: January 3, 2023
  • Informative website

    The InsuranceDekho website is informative. While buying the Universal Sompo car insurance plan for my BMW, I read about IDV and its importance. It was very well explained. Loved the plan for all its features and benefits.

    Read More

    N
    By Naman Gupta
    On: October 13, 2022
  • 7 days availability

    The services provided by the InsuranceDekho website are available on all 7 days of the week. I visited them on Sunday to buy a good car insurance plan for my BMW. with the help of their team, I chose the Universal Sompo car insurance plan ut comes with superb features and benefits.

    Read More

    N
    By Naman Batra
    On: August 24, 2022
  • Got a good plan at an affordab...

    I wanted a good car insurance plan for my BMW. Also, a plan that could fit in my budget easily. Someone suggested me to visit the InsuranceDekho website, and then I came across the Universal Sompo car insurance plan. The plan was perfectly designed as per my needs.

    Read More

    R
    By Rajat Sharma
    On: August 16, 2022
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Universal Sompo Zero Depreciation Cover FAQs

  • Can I choose the claim in which I want to use the zero depreciation cover?

    Yes, you can choose the claim in which you want to avail the benefit of the zero depreciation cover.

  • What is the premium of the zero depreciation add-on cover?

    The premium for the zero depreciation add-on cover is not fixed as it depends on certain factors like the age, model and IDV, etc of your vehicle.

  • How much will I have to bear during a claim settlement?

    You will only be required to pay the necessary deductibles and the liabilities on your part.

  • My car is 7 years old, is there any way I can avail a Zero-depreciation cover?

    Yes, however, the zero depreciation add-on benefits will be available to you only on a partial basis if your car in more than 5 years old. You will receive zero depreciation benefits only for Tyres/Tubes/Battery/Air bags/Fibre glass parts of the vehicle that are above 5 years of age and not above 7 years.
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