Hassle-Free Buying Process
24*7 Customer Support
Compare Different Plans Easily
Add-Ons for Customization
Kotak Car Insurance Zero Depreciation Add-On
As your car gets older, its value goes down because of regular use. This loss in value is called depreciation. Depreciation not only lowers your car’s market price but also reduces the amount you get during a claim. This happens because the insurance company subtracts the depreciation cost of the parts they replace.
But you can avoid this loss by buying a Zero Depreciation Add-on Cover from Kotak General Insurance. With this add-on, depreciation is not deducted, and you get a higher claim amount.
Depreciation Rate of Car- Without and With Zurich Kotak 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 for the exact terms and conditions.
Motor Insurance Plans By Zurich Kotak
Benefits of Buying Kotak Zero Depreciation Car Insurance
- 01
Full Payment for New Parts
With Zero Depreciation cover, the insurance company pays the full cost of new parts. They do not cut money because the old parts have lost value.
- 02
Higher Claim Amount
Since no money is reduced for depreciation, you get a bigger amount when you make a claim.
- 03
Better Protection for Your Car
All car parts are covered for their full value. This means you do not have to pay extra from your pocket if any part gets damaged.
- 04
Good for Older Cars
If your car is older, this cover is very useful because normal insurance pays less due to depreciation. Zero Depreciation cover helps you get more money.
- 05
Peace of Mind
You feel safe knowing that the insurance company will pay the full cost to replace damaged parts. This reduces stress during accidents or repairs.
FAQs
The premium depends on your car’s Insured Declared Value (IDV). If your car’s IDV is high, the premium will be high. If the IDV is low, the premium will be low.
You can add it by:Visiting the Kotak car insurance website, orCall their toll-free number: 1800-266-4545.
Yes. You need to renew the Zero Depreciation cover every time you renew your Kotak comprehensive car insurance, as long as your car still meets the rules for this cover.
Yes. Zero Depreciation only removes the depreciation cost from your bill. You still have to pay:The compulsory deductible, andThe voluntary deductible (if you chose one)