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- Zero Depreciation Car Insurance
Tata AIG Zero Depreciation Car Insurance
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 by Tata AIG General Insurance Company, it ensures that no amount of depreciation is reduced from the insured car’s value while determining the IDV of the vehicle.
Benefits of Buying Tata AIG Zero Depreciation Car Insurance
Take a look at some of the benefits of buying the zero depreciation with car insurance 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.
How to Buy Tata AIG Zero Depreciation Add-on Cover?
Purchasing a Tata AIG zero dep addon is a simple process when done online. Here is how you can do so in just few minutes from Policybazaar.com:
- From the homepage, select the “Car Insurance” tab
- Now enter your car number in the form and proceed
- You can now select the details of your four-wheeler such as make, model, variant, etc
- Fill in the registration form and proceed
- From the given list of plans, look out for Tata AIG comprehensive policy and its details
- Now from the “Addons and Accessories” tab, select “Zero Depreciation” add-on
- Your premium will slightly increase after opting the addon
- Now pay the final premium amount via desired payment mode
- Once the payment is complete, your Tata AIG car insurance policy along with zero dep cover will be sent to you via email.
Tata AIG Zero Depreciation Car Insurance Claim Process
Follow these easy steps to successfully raise a Tata AIG zero depreciation motor insurance claim:
- Intimate the insurer soon after the accident so that a claim can be registered
- Once the claim is registered, a surveyor will be sent to estimate the damages sustained by the insured car
- Now submit the mandatory documents required to raise a claim
- Once all the formalities are over, your car will be sent to network garage for repairs
- After the repairs, the insurer will directly settle the claim along with the depreciation cost with the network garage.
Documents Required for a Tata AIG Zero Depreciation Car Insurance Claim
To raise a claim under Tata AIG zero depreciation car insurance claim, you will need the following documents:
- Duly filled and signed claim form
- Copy of vehicle registration certificate
- Copy of car insurance policy documents
- Bills of repair
- Verified copy of the Police FIR
- Copy of driver's licence
- Photographs of the accident for reimbursement claims
FAQs
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Q1. For how many years can I buy a zero depreciation cover?
Ans: You can buy a zero depreciation cover with your comprehensive car insurance for cars of up to 10 years old. Earlier this cover was sold for cars only up to 5 years of age but now many insurers sell this add-on for 10 year old cars as well. -
Q2. Can a nil dep cover be purchased with a third party insurance?
Ans: No. A zero dep addon can only be purchased with a own damage or comprehensive car insurance as it is only associated with the insured car and not a third party. -
Q3. Does Tata AIG zero dep add-on covers engine damage?
Ans: No, engine damages are not covered under this add-on. To cover damages to the car’s engine, you can opt for Engine Protect Cover. -
Q4. Does Tata AIG zero dep cover theft of the car?
Ans: Only the depreciation borne by the insured car is covered under this addon. Theft or theft related losses are covered under a comprehensive car insurance.
Car zero Depreciation Insurers
Bajaj Allianz Zero Depreciation Car Insurance
Chola MS Zero Depreciation Car Insurance
Digit Zero Depreciation Car Insurance
Future Generali Zero Depreciation Car Insurance
HDFC Ergo Zero Depreciation Car Insurance
ICICI Lombard Zero Depreciation Car Insurance
IFFCO Tokio Zero Depreciation Car Insurance
Liberty Zero Depreciation Car Insurance
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Car insurance companies
Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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*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.