Digit car insurance offers a Zero Depreciation Car Insurance cover that helps avoid any depreciation-related cost reductions during the policy claim. The key benefit is that you have passed on the liability of bearing the depreciation cost to the insurance provider, thereby maximizing returns in case of a claim.
Digit Zero Depreciation Car Insurance Policy Benefits
Some of the key benefits of the Digit Zero Depreciation Car Insurance include:
- Higher Claim Amount – Being a comprehensive package, no depreciation-related deductions happen, thereby increasing returns.
- An additional number of claims – This can be availed for up to two claims during the tenure of a policy.
- Depreciation benefits applicable both on the car and car parts– This ensures maximum depreciation costs are covered and maximizes returns in a claim
- Save money in case of a claim – Overall, the depreciation liability is passed to the insurance provider, thereby saving hard-earned money during a claim.
Digit Zero Depreciation Car Insurance Claim Process
Motor insurance claims are increasing these days, and policyholders must know what they can claim and how to approach it.
When the vehicle is serviced at an authorized garage, the insurer pays directly to the garage based on the claim amount.
When the vehicle is serviced outside the authorized network, the policyholder makes the payment, and later the insurer reimburses the claim, factoring in all deductibles.
Steps to follow:
- Intimate to the insurance company on their toll-free number 1800-258-5956or email in case of claiming damages on one's own car.
- Complete the claim form and affix your signature.
- The insurance company will subsequently assess the damages.
- After the repairs are completed, you need to send the repair invoice, payment receipt, and documents to the insurance company.
- A delivery order is provided once all the documents as stated below are in place:
- Filled and signed claim form
- The insurance policy document that is valid
- Registration certificate of the vehicle that is valid
- Driver's license
- Certificate by pollution authorities
- Original receipts and bills provided at the garage
- FIR in case of injuries or third party liabilities
- A copy of PAN card
- Signed satisfaction voucher
Digit Zero Depreciation Car Insurance FAQs
Ans: No, this is not applicable for vehicles that are more than 5 years old.
Q: What factors influence the premium applicable to me when I opt for a Digit Zero Depreciation Car Insurance?
Ans: The three factors that influence the premium chargeable are the age of your car, the model of the car, and the location where you will use the car.
Ans: The only difference here is that Zero Depreciation cover is an add-on that makes a standard insurance cover more comprehensive by covering the depreciation costs.
Ans: No consumable charges are not covered in this policy.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
“Tax benefit is subject to changes in tax laws. Standard T&C apply.”
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.Read More