Tata AIG Zero Depreciation Car Insurance Cover

Zero depreciation is an add-on cover available under a Tata AIG car insurance policy. It provides coverage against depreciation applicable to the insured car and its parts with an increase in its age. Also known as nil depreciation, or bumper-to-bumper car insurance, it ensures that no amount of depreciation is reduced from the insured car’s value while determining the IDV of the vehicle. In other words, it reimburses the value of depreciation deducted from the value of the car and its parts and thus, is also known as Depreciation Reimbursement cover.

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*TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.
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₹ 3,775

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  • Repair service at select cashless garages
  • Offers Zero Depreciation addon


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₹ 2,094

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  • Covers damages to third party property
  • Covers damages to third party person

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 the absence of a zero depreciation cover, the Tata AIG General Insurance Company will deduct the applicable depreciation amount from the current manufacturer’s price of the insured car to arrive at the four wheeler’s IDV. Thus, this add-on cover enables the car owner to receive the full IDV of his/her car in the event of a total loss or theft of the vehicle.

Since zero depreciation is an add-on cover, a car owner needs to buy it separately under his/her Tata AIG car insurance policy on payment of an additional premium amount. Moreover, this add-on is available only under package policy and standalone own damage car insurance policy.

Benefits of Buying Tata AIG Zero Depreciation Car Insurance Cover

Take a look at some of the benefits of buying the zero depreciation add-on cover from Tata AIG General Insurance Company:

  • Higher Claim Amount - It allows the policyholder to receive a higher claim amount from the Tata AIG General Insurance Company during the settlement of claims. This happens because no amount of depreciation is considered on the fibre, rubber, nylon and plastic parts of the car. However, only 50% of the depreciation value applies to the batteries, tyres and tubes of the insured car.
  • Reduces Out-of-Pocket Expenses - It reduces the out-of-pocket expenses of the car owner as he/she does not have to bear the value of depreciation applicable to the insured car and its parts.
  • Saves Money - It helps a car owner to save money in the long run as it enables him/her to get a higher claim amount and prevents him/her from incurring a financial loss. The cost of this add-on cover is way lower than the out-of-pocket expenses that he/she may have to pay in the absence of the zero depreciation cover.
  • Amplifies Policy Coverage - The zero depreciation cover amplifies the coverage level of the car insurance, thereby, reducing the out-of-pocket expenses of the car owner.

Special Conditions Applicable to Tata AIG Zero Depreciation Car Insurance Cover

There are certain special conditions that apply to a Tata AIG zero depreciation car insurance add-on cover. Take a look at these special conditions given below:

  • Age limit - The zero depreciation cover is only available for cars up to five years old.
  • Number of Claims - A car owner can register only two zero depreciation claims in a policy tenure.
  • Authorized Garage - This add-on cover can only be utilized if the insured car is sent for repairs at an authorized garage of Tata AIG General Insurance Company.

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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.

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