Zuno Zero Depreciation Car Insurance

About Zuno (Formerly Edelweiss) Zero Depreciation Car Insurance

Zuno General Insurance (formerly known as Edelweiss General Insurance) offers two types of plans - third-party insurance and comprehensive insurance.

Every car is subject to depreciation (regular wear & tear), which directly affects the insurance coverage. Zero depreciation cover is a popular vehicle insurance add-on that car owners can choose with their comprehensive car insurance policy. It transfers the risk of the car’s depreciation to the insurance company in exchange for a nominal insurance premium amount.

Who Can Buy Zuno (Formerly Edelweiss) Zero Depreciation Car Insurance?

• New automobile owners
• Owners of high-end motor vehicles with expensive parts
• Residents of accident-prone areas
• New motorists
• Who drivesregularly

Zuno (Formerly Edelweiss) Zero Depreciation Car InsurancePolicy Benefits

• Claims settled within a short period
• 20 years of experience as an insurance company (offering reliability)
• Special recognition and awards were received, like the SAP ACE award 2018
• Customer care service is available 24*7
• Special priority is given to service at network garages
• Cashless claim settlement
• Customization available

Other Benefits

Greater Claims Payments

When combined with a conventional comprehensive motor insurance plan, the zero depreciation cover helps consumers to get higher claim amounts. The policy transfers the obligation for depreciation costs from the insurer, indicating that Zuno General Insurance Ltd. (formerly known as Edelweiss General Insurance Ltd.) will be responsible for retirement payments.

Multiple Claims

During a policy term, a customer can make up to two claims for the Zuno (formerly Edelweiss) zero depreciation cover.

Zuno (Formerly Edelweiss) Zero Depreciation Car InsuranceClaim Settlement

The depreciation of a vehicle is mentioned on the policy document at the time of settling claims. As per the IRDA (Insurance Regulatory and Development Authority of India), the depreciation will be applicable for different parts of the car in the following manner-

• For plastic, nylon, and rubber parts- 50% depreciation is applicable
• For fiberglass components- 30% depreciation is applicable
• For wooden & metallic parts- 5% in the first year, 10% in the second year, and so on

By opting for Zuno (formerly Edelweiss) zero depreciation cover, depreciation on the car parts will not be taken into the account during claim settlement. Hence, the claim amount is increased as wear & tear (depreciation factor) is eliminated during the claim payout.