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Without a thorough understanding of the add-on coverage options available during the purchase of any insurance policy, you may be missing out on a lot of money. With the Bharti AXA Zero Depreciation Car Insurance Coverage, you can claim the full amount of your vehicle's insurance without paying depreciation fees. Without having to pay for the depreciation factor, you can protect your vehicles and your future from any form of mishap with this add-on policy.
If you had an active Bharti AXA Zero Depreciation Policy Add-On, all you had to do in the case of a claim was call the insurer, raise a claim, and they would pay the full cost of repairs for your vehicle without taking any depreciation considerations into account. One of the main benefits of zero depreciation insurance is that it covers the entire cost of your settlement without taking into account your car's depreciation. Comprehensive Coverage (Basic) Covers the cost of insurance and settles the balance based on the current market value of your vehicle. The depreciated value would be the current value.
Car Age | Depreciation Rate With Zero Depreciation Cover | Depreciation Rate Without Zero Depreciation Cover |
0-6 months | 0% | Nil |
6 months-1 year | 0% | 5% |
1-2 years | 0% | 10% |
2-3 years | 0% | 15% |
3-4 years | 0% | 25% |
4-5 years | 0% | 35% |
5-10 years | 0% | 40% |
Above 10 years | 0% | 50% |
Car Parts | Depreciation Rate With Zero Depreciation Cover | Depreciation Rate Without Zero Depreciation Cover |
Paintwork/ Rubber/ Nylon/ Plastic Parts, Tires and Tubes, Batteries and Airbags Parts | 0% | 50% |
Fiberglass Parts | 0% | 30% |
Glass Parts | 0% | Nil |
Bharti AXA four-wheeler Insurance Zero Depreciation covers the following things-
The following components of the Bharti AXA Insurance Zero Dep are not covered in this policy-
To take advantage of Bharti AXA Insurance Zero Depreciation coverage, you must meet the following requirements:
You can purchase your insurance with Bharti AXA four-wheeler zero depreciation online. Select the type of coverage you require for your car under the header Car Insurance. Select comprehensive car insurance. Continue to select the add-on covers for your vehicle. Select "Zero Depreciation" as your depreciation coverage. Complete the form with your personal and vehicle details. Fill out an application for insurance and pay your premium online. The insurer will evaluate your profile and provide you with zero-depreciation car insurance.
Bharti AXA offers 24/7 claims help with the easiest and hassle-free processing through its extensive network of over 2,500 cashless garages across India. Individually tailored policies are available, intending to provide the most comprehensive coverage at critical moments. With so many unknowns in life, Bharti AXA might be your sure-fire approach to cope with any car-related accidents or losses.
The 0% depreciation add-on does not cover items like the bi-fuel kit, engine, consumables, or uninformed customized accessories. In the case of Constructive Total Loss, Total Loss, and theft, the benefits of zero depreciation do not apply.
You have to pay an additional payment apart from the usual comprehensive auto insurance policy premium to acquire a Bharti AXA Zero Depreciation cover. The premium for this add-on insurance is determined by factors such as the car's age, variant and model, IDV, etc.
Following the completion of all documentation requirements, Bharti AXA begins the claim payout procedure right away. However, the maximum claim settlement time for reimbursement is seven working days.
According to Section 64VB of the Insurance Act, 1938, policyholders must pay the whole premium amount before buying the policy.
No, the Bharti AXA Zero Depreciation Add-on cover is only available at the time of purchase or renewal of the insurance policy.