Liberty Zero Depreciation Car Insurance
Just like other things, your car loses value over time. This is called depreciation. Depreciation not only makes your car worth Read More
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With the Liberty Zero Depreciation Add-On, you can get the full amount of your claim, without any money being taken off for depreciation.
Benefits of Liberty Zero Depreciation Add-On Cover
- 01
Higher Claim Amounts
With the zero depreciation add-on, you can get more money when you make a claim. The insurance company will pay for the depreciation, so you don’t have to.
- 02
Multiple Claims
You can make up to 2 claims with the zero depreciation cover during the time your policy is active.
Depreciation Rate of Car- Without and With Liberty Zero Depreciation Add-On
| Age of Car | Without the Zero Depreciation add-on | With the 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 a 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 the above tables are indicative. Check your policy document to get the exact terms and conditions.
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Things that You Should Know About Liberty Zero Depreciation Add-On Cover
The Liberty Zero Depreciation Add-On Cover has many benefits, but it depends on these things:- You can only make 2 claims during the policy period.
- It does not cover theft, total loss, or if your car is stolen.
- The car must be repaired at a workshop approved by the company.
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