Starting at only ₹6 per Day*

Starting at only ₹6 per Day*
Nil depreciation cover, often known as zero depreciation car insurance, provides complete coverage without taking into account depreciation. As a result, if your car is damaged in an accident, Cholamandalam car insurance policy will cover the entire cost during claim settlement.
Your car, like any other commodity, loses value as it ages. Depreciation is the process by which a commodity's value depreciates over time. Depreciation lowers the market worth of your car, but it also reduces the claim amount of your car insurance. This is because the depreciation cost is factored into the claim amount at the time of Cholamandalam car insurance claim.
As a result, even if your automobile is only 3-4 years old due to depreciation, it will be valued at 25% less than the invoice price, and you will receive a smaller claim amount. Cholamandalam car insurance zero depreciation cover online, on the other hand, relieves you of the burden of depreciation costs. This add-on is only available for cars less than five years old.
Car Age | Rate of Depreciation without Zero Depreciation Cover | Rate of Depreciation with Zero Depreciation Cover |
Under six months | Nil | 0% |
Six 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% |
Above 10 years | 50% | 0% |
If you have Cholamandalam zero depreciation car insurance coverage, you can recover the total cost of replacing the vehicle parts in the event of an accident. The claim amount will not be reduced by the depreciating value of the damaged parts. As a result, it assists you in saving a significant quantity of money.
The following are some exclusions to Cholamandalam car zero dep insurance, popularly known as bumper-to-bumper insurance:
Three primary factors determine your Cholamandalam car zero dep insurance premium after a lot of statistical research and data crunching:
The Cholamandalam zero depreciation car insurance does not provide engine damage coverage. For that, you need to buy the ‘engine protect’ add-on cover of Cholamandalam.
The sum insured value that the policyholder receives in the event of theft or complete loss of the insured vehicle is known as IDV. It's the vehicle's current market worth minus the registration fee and depreciation value. However, the zero depreciation cover of Cholamandalam car insurance covers depreciation costs.
Cholamandalam car insurance zero depreciation coverage is available for cars aged less than five years.
It is mainly determined by the age of the vehicle to be insured, its model and make, and its location.
Yes, you will need to pay the extra premium for having this add-on cover. The premium of the base car insurance policy will combine with that of the add-on cover.
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