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Benefits of Purchasing SBI Zero Depreciation Car Insurance
- 01
Full Claim for New Parts
With Zero Depreciation insurance, you get the full amount to replace damaged car parts with new ones. There's no deduction for how old the parts are.
- 02
Higher Claim Amount
Since you are not losing money for depreciation, you’ll receive a higher payout when you make a claim.
- 03
Better Protection for Your Car
Your car parts will be covered for their full value, so you don’t have to worry about paying extra from your pocket if something gets damaged.
- 04
Ideal for Older Cars
If your car is older, Zero Depreciation insurance is especially helpful, as regular policies will give you less money due to depreciation.
- 05
Peace of Mind
Knowing that you will get the full cost to replace damaged parts gives you more confidence and less stress when something happens to your car.
Motor Insurance Plans By SBI
Depreciation Rate of Car- Without and With SBI 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.