Bajaj Allianz Zero Depreciation Car Insurance

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Bajaj Allianz Zero Depreciation Car Insurance
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      Bajaj Allianz Zero Depreciation Car Insurance

      Bajaj Allianz zero depreciation car insurance is a motor insurance policy that includes zero depreciation add-on cover. Zero depreciation cover is an add-on cover available with Bajaj Allianz Car Insurance that ensures no amount of depreciation is considered while calculating the IDV (or Insured Declared Value) of a car or during the settlement of claims. It ensures that the Bajaj Allianz General Insurance Company provides coverage against the depreciation applicable to the value of the car and its parts according to the vehicle’s age.

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      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.

      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.

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      #Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc

      *Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.

      ##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.

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