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New India Zero Depreciation Car Insurance
New India Zero Depreciation Car Insurance is an add-on cover that ensures you get the full claim amount for repairs or part replacements without any depreciation deduction. Normally, when a car part gets old, its value reduces over time, and the insurance company pays a lower amount after deducting depreciation.
But with the Zero Depreciation cover, New India pays the entire cost of repairs or replacements based on the actual value of the parts.
Benefits of New India Zero Depreciation Car Insurance
Here are its key benefits of this policy type:
- 01
Depreciation Reimbursement
This covers the cost of the depreciation amount usually deducted during part replacement, so you do not have to bear that cost.
- 02
Full Claim Settlement
Ensures you receive the complete claim amount without any depreciation deduction, reducing your repair expenses.
- 03
Coverage for Expensive Parts
Includes high-cost components like plastic, rubber, fiberglass, bumpers, and glass without cutting their value.
- 04
Lower Out-of-Pocket Costs
Since depreciation isn’t deducted, your repair costs stay low, saving you money.
- 05
Ideal for New and Luxury Cars
Best suited for cars up to 5 years old or luxury vehicles with costly spare parts.
- 06
Useful in Accident-Prone Areas
A great choice for drivers in high-traffic or rough-road regions, as it reduces frequent repair expenses.
- 07
Maintains Better Resale Value
Helps keep your car in top condition, improving its resale price later.
- 08
Affordable Add-On
Offers strong protection at a reasonable extra cost.
Motor Insurance Plans By New India
Inclusions and Exclusions of New India Zero Depreciation Cover
What it Covers
- This is an add-on to comprehensive or own damage car insurance policies. Here’s what it includes:
Full repair or replacement cost without any depreciation deduction.
Covers parts like plastic, rubber, fiberglass, bumpers, and glass.
Works at the time of the accident for the owner-driver.
Cashless repair facility at New India’s network garages.
Protection against damages caused by accidents, fire, theft, and natural disasters.
What Does it not Covers
- The following expenses or losses are not covered under the New India Zero Depreciation add-on:
Total loss or constructive total loss claims are settled at market value (IDV).
Accidents caused while driving under the influence of alcohol or drugs.
Certain parts, such as tyres, tubes, nuts, bolts, and lubricants (unless specifically covered).
Accidents while driving without a valid licence.
Mechanical or electrical failures and regular wear and tear.
Mandatory deductibles must be paid separately by the policyholder.
Conditions for Buying New India Zero Depreciation Cover
Here are some of the main conditions to consider before buying zero depreciation car insurance:Car Age
Applicable for cars up to 5 years old.
Policy Type
Available with Comprehensive or Own Damage car insurance policies.
Claim Limit
You can make up to two zero depreciation claims in one policy year.
Simple Steps to Buy New India Zero Depreciation Car Insurance
Here are the steps to buy New India zero depreciation car insurance:Step 1: Visit the official New India Assurance website.
Step 2: Go to the Motor Insurance section and select Private Car.
Step 3: Choose to buy a new policy or renew your existing one.
Step 4: Enter your car details (make, model, registration number) and contact information.
Step 5: Check the available plans and select a policy.
Step 6: Add the Zero Depreciation cover (also called Nil Depreciation or Bumper-to-Bumper).
Step 7: Review your details and the updated premium amount.
Step 8: Make the payment online via card, UPI, or net banking.
Step 9: Once paid, you’ll receive your policy documents instantly by email.
FAQs
It is an add-on cover that lets you get the full claim amount for repairs or part replacements without any depreciation deduction.
It helps you save money during repairs and ensures your car is restored to its best condition without extra costs.
Parts like plastic, rubber, fiberglass, bumpers, and glass are covered without reducing their value.
Yes, you can add it to a Comprehensive or Own Damage car insurance policy.
Yes, you can make up to two claims in a single policy year with this add-on.
It is ideal for new or luxury cars and for people driving in accident-prone areas.