Above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI (998 CC) registered in Gurgaon and 15 days before expiry of previous policy
In other words, Bajaj Allianz zero depreciation car insurance prevents a car from losing its value due to depreciation. It enables the car owner to get an IDV equivalent to the current selling price of the vehicle as listed by the manufacturer despite an increase in its age. Therefore, zero depreciation add-on cover is also known as nil depreciation cover or bumper-to-bumper car insurance.
A Bajaj Allianz car insurance policy will reimburse the depreciation value of the insured car and its parts only if the car owner buys zero depreciation add-on cover by paying an additional premium amount. Moreover, zero depreciation cover is only available under Bajaj Allianz comprehensive or standalone own damage car insurance and not under third party car insurance.
You might be interested in
Benefits of Buying Bajaj Allianz Zero Depreciation Car Insurance
Here are some of the benefits of buying Bajaj Allianz zero depreciation car insurance:
- Covers Out-of-Pocket Expenses - It prevents a car owner from incurring out-of-pocket expenses at the time of claim as the Bajaj Allianz General Insurance Company covers the depreciation value of the insured car and its parts
- Provides Higher Claim Amount - It offers a higher claim amount to the car owner as no money amounting to depreciation is deducted from the value of the car or its parts. As a result, the IDV increases and the policyholder is able to get a higher claim amount in the event of theft or total loss claims.
- Expands Policy Coverage - It expands the coverage level of a Bajaj Allianz car insurance policy as it provides coverage for the amount of depreciation applicable to the insured car as well as its parts.
- Saves Money - It allows the car owner to save money and prevent a financial loss as he/she does not have to pay any money towards depreciating value of the car and its parts.
Special Conditions Applicable to Bajaj Allianz Zero Depreciation Car Insurance
The zero depreciation cover under Bajaj Allianz car insurance comes with certain special conditions. They are as follows:
- Age Restriction - Zero depreciation car insurance is available only for cars up to three or five years of age.
- Approved Garages - The zero depreciation car insurance will reimburse the depreciating value of the car, provided the insured car is being repaired at an approved garage of Bajaj Allianz General Insurance Company.
- Number of Claims - The Bajaj Allianz zero depreciation car insurance allows for a maximum of two zero depreciation claims in a policy year.
Bharti AXA Zero Depreciation Car Insurance
Chola MS Zero Depreciation Car Insurance
Digit Zero Depreciation Car Insurance
Edelweiss Zero Depreciation Car Insurance
Future Generali Zero Depreciation Car Insurance
IFFCO Tokio Zero Depreciation Car Insurance
Kotak Mahindra Zero Depreciation Car Insurance
Liberty Zero Depreciation Car Insurance
National Zero Depreciation Car Insurance
New India Assurance Zero Depreciation Car Insurance
Oriental Zero Depreciation Car Insurance
Raheja QBE Zero Depreciation Car Insurance
Reliance Zero Depreciation Car Insurance
Royal Sundaram Car Insurance Zero Depreciation
SBI Zero Depreciation Car Insurance
Shriram Zero Depreciation Car Insurance
Tata AIG Zero Depreciation Car Insurance Cover
United India Zero Depreciation Car Insurance
Universal Sompo Zero Depreciation Car Insurance
Bajaj Allianz Car Insurance
Bharti AXA Car Insurance
Chola MS Car Insurance
Digit Car Insurance
Edelweiss Car Insurance
Future Generali Car Insurance
IFFCO Tokio Car Insurance
Kotak Mahindra Car Insurance
Liberty Car Insurance
National Car Insurance
New India Assurance Car Insurance
Oriental Car Insurance
Raheja QBE Car Insurance
Reliance General Car Insurance
Royal Sundaram Car Insurance
SBI Car Insurance
Shriram Car Insurance
Tata AIG Car Insurance
United India Car Insurance
Universal Sompo Car Insurance
Find similar car insurance quotes by body type
Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.