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Add-Ons for Customization
Benefits of National Zero Depreciation Add-on
- 01
Lower Cost for You
With the Zero Depreciation add-on, you don’t have to pay for the loss in value (depreciation) of car parts during a claim. National Insurance will pay the full repair or replacement cost, so you get a higher claim amount.
- 02
More Coverage
This add-on gives full (100%) coverage for most car parts. Only tyres, tubes, and batteries are covered at 50%.
Motor Insurance Plans By National
Depreciation Rate of Car- Without and With National 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.
What is Covered and Not Covered Under Zero Depreciation Add-on Cover?
A National Standalone Own-Damage Car Insurance plan covers some types of car damage, but not all. Here’s what is and isn’t covered:
What it Covers
- The Zero Depreciation add-on helps you get the full claim amount without any deduction for depreciation in the following cases:
Accidental Damage
If your car is damaged in an accident, the policy will pay for repairs or replacement of parts.
Natural or Man-Made Disasters
If your car is damaged by flood, earthquake, fire, riot, or vandalism, this add-on will cover it.
Damage During Transport
If your car is damaged while being moved from one place to another, it will also be covered.
What Does it not Cover
- Even though this add-on gives strong protection, it does not cover everything.
Theft or Total Loss
If your car is stolen or fully damaged, depreciation will still apply based on your car’s market value (IDV).
Normal Wear and Tear
Regular damage or issues in the car’s parts from daily use are not covered.
Careless or Illegal Driving
If the driver has no licence or drives after drinking alcohol or taking drugs, the claim will not be accepted.
Wrong Use of Car
If you use your private car for business or commercial work, this cover will not apply.
Conditions of Zero Depreciation Add-on Cover
Here are the main benefits of this policy:- This cover is only for cars that are less than 5 years old.
- You can make up to 2 claims in one policy period.
- It covers tyres, tubes, and batteries at 50%, while all other parts are covered at 100%.
- The premium amount depends on your car’s IDV (current value) and age.