Insurance Tips: What is Zero Depreciation Add-on, how to get benefits in car insurance..

Every day a large number of vehicles are purchased in India and insurance is also compulsorily purchased with new vehicles. But do you know what is Zero Depriciation or Zero Dep in Car Insurance? How can its benefit be taken in times of need? If you do not know about it, then we are telling you in this news.

What is Zero Depreciation
Most people do not know that Zero Dep is not any kind of insurance policy. It is just an add-on that is taken with a comprehensive policy. This type of add-on is given by insurance companies only on new vehicles. It is given as an add-on for a fixed period only.

How to get the benefit
If a person takes a Zero Dep add-on with the insurance of his vehicle, then it is of great benefit in times of need. While getting the vehicle repaired at the service center, only file charges have to be paid due to this add-on. Apart from this, any other charge is paid by the insurance company. Due to this thousands of rupees are saved for the vehicle owner.

How long can you avail of the facility of zero dep?
Most companies provide such add-ons on new cars. This facility is provided only on cars that are old for a maximum of five years. But some companies also provide the facility of zero-dep add-ons for six to seven years to such customers who continuously maintain the no-claim bonus.