ICICI Lombard Zero Depreciation Add-On Cover
As your car gets older, it loses value, and this reduced value affects how much money you can get from an insurance claim. The Zero Depreciation add-on means the insurance company covers this loss of value, not you, so you get more money if you need to make a claim. ICICI Lombard also guarantees the quality of repairs for six months. However, adding this Zero Depreciation cover does increase your insurance costs a bit.
Depreciation Rate of Car- Without and With ICICI Lombard Zero Depreciation Add-On
| Age of Car | Without Zero Depreciation add on | With Zero Depreciation add on |
|---|---|---|
| Under 6 months | Nil | 0% |
| 6 months to 1 year | 5% | 0% |
| 1 to 2 years | 10% | 0% |
| 2 to 3 years | 15% | 0% |
| 3 to 4 years | 25% | 0% |
| 4 to 5 years | 35% | 0% |
| 5 to 10 years | 40% | 0% |
| More than 10 years | 50% | 0% |
Depreciation Rates According to the Parts of the Car
| Parts of Car | Without Zero Depreciation | With Zero Depreciation |
|---|---|---|
| Rubber/Nylon/Plastic parts | 50% | 0% |
| Fibre Glass Parts | 30% | 0% |
| Glass Parts | Nil | 0% |
Disclaimer: The given depreciation rates in above tables are indicative. Check your policy document to get exact terms and conditions.
Benefits of ICICI Lombard Zero Depreciation Add-On Cover
By paying a little extra, you can get these benefits with the Zero Depreciation add-on:
- Higher Claim Amount: This add-on helps you get a bigger claim amount compared to standard comprehensive insurance. It removes the depreciation cost from your claim, so the company pays more.
- Full Coverage for Car Parts: The insurance covers 100% of the cost for most car parts. For tyres, tubes, and batteries, coverage is given at 50%.
FAQs
Yes, it covers 100% of most car parts. However, tyres, tubes, and batteries are covered at 50%.
Yes, since this add-on provides extra benefits, it increases the total premium amount.
No, it is usually available for new or fairly new cars. Older cars may not qualify for this add-on.
The number of claims allowed depends on your policy terms. Some policies may have a limit on how many times you can use this add-on.
Compare & Save Upto 90%. Get Car Insurance Starting at ₹2094/Year*
By clicking on You, Agreed to our Privacy Policy & Terms of use & *Disclaimer
Avarage Ratting
Insurance NewsCar Insurance Articles
What is The Difference Between RTO and DTO ?
Whether you own a personal or commercial vehicle, it is important to ensure that your vehicle is legally eligible to be driven on the road. After purchasing any vehicle, you must obtain legal permission to use it both within your state and outside of it.
Read More
Difference Between Power Petrol and Normal Petrol
Depending on the vehicle type and your preference, you can choose any of the fuels available in the market. However, the most common vehicle fuel is petrol. According to The Economic Times, approximately 57% of vehicles in India are powered by petrol.
Read More
Types of Roads and Highways In India
Which route did you take today to reach your workplace? A highway or just a local city road? Every road you walk on is not the same. Some of them can be a National Highway, or a state highway, or just your village road that takes you to the city.
Read More
What is The Difference Between a Petrol Engine and a Diesel Engine
Planning to buy a new car but still confused between petrol and diesel? You are not alone. Many people face the same issue before making a decision. Both petrol and diesel cars have their own benefits and drawbacks. Some give better mileage, while others are cheaper to maintain.
Read More
What are CD number plates in India ?
We often see many vehicles on the road with number plates of different colours.
Read More