National Zero Depreciation Car Insurance

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​A new car fades not only in appearance but also in value as time goes on. It goes through the natural process of depreciation. Even if you have bought a standard National car insurance cover, you will still have to pay the cost of all the regular wear and tear expenditure at the time of claim settlement. But adding a National zero depreciation car insurance cover to your basic car insurance policy will ensure your protection from paying the cost of depreciation. You can claim the full compensation amount with a National zero depreciation car insurance add-on. Of course, adding it will raise your premium amount, but it’s worth the money you invest in it. 

How does National Zero Depreciation Car Insurance Cover Work?

National zero depreciation car insurance add-on takes away the liability of paying the depreciation cost from the car owner. Instead, the insurance company does the same. The zero depreciation add-on can be purchased for cars not older than 5 years of age. Also, National Insurance sets a limit on the claim number you can file under this add-on cover within a policy tenure. It is to be noted that with National zero dep car insurance cover, the owner is still liable to pay some necessary and voluntary expenses.

Benefits of National Zero Depreciation Add-on Cover

A car owner can enjoy the following benefits by adding National zero depreciation car insurance cover to the standard car insurance policy:

  • Saves your money that could be spent on the repair and replacement of your car parts during any damage.
  • Strengthen your standard car insurance policy's coverage.
  • You are now entitled to receive a higher amount of claim.
  • Prevent your out-of-pocket expenses while initiating a claim settlement.
  • Makes your investment almost nil.
  • You can file zero depreciation claims twice during your policy tenure

Depreciation Rate Applicable on Car with and without Zero Depreciation Add-on

Age of CarRate of Depreciation without Zero Depreciation CoverRate of Depreciation with Zero Depreciation Cover
Up to 6 Months NilNil
6 Months to 1 Year 5%Nil
1 Year to 2 Years 10%Nil
2 Years to 3 Years15%Nil
3 Years to 4 Years25%Nil
4 Years to 5 Years35%Nil
5 Years to 10 Years40%Nil
More than 10 Years50%Nil

Paint work

rubber/nylon/plastic parts

Fibreglass parts30%Nil

What is Included Under a National Car Insurance Policy with Zero Depreciation Cover? 

A National zero depreciation car insurance policy covers the following:

  • 100% compensation for paintwork, fibreglass parts, rubber parts, nylon parts, metal parts, and plastic parts.
  • 50% compensation for batteries, tyres, tubes, and airbags.

What is not Included under a National Car Insurance Policy with Zero Depreciation Cover? 

A National Zero dep car insurance policy does not include coverage for the following risks:

  • Cars which are older than 5 years.
  • Damage to the engine due to oil leakage.
  • Damage of engine due to water ingression.
  • Imported model car.
  • Tyres and gas kits.
  • A car when used for illegal or commercial purposes.
  • Mechanical or electrical corruption.
  • Regular wear and tear.
  • Care not to be taken intentionally.
  • Intentionally damaged car parts.
  • Modified car.

Factors Affecting National Zero Depreciation Cover

Following are the factors that need to be considered while availing of a Liberty zero dep Car insurance policy:

  1. Your car's age.
  2. Insured Declared Value (IDV) of your car.

How to Buy a National Zero Depreciation Car Insurance Cover? 

Buying National zero depreciation car insurance requires you to provide some of your and your car's basic information to the insurer. You can either add this while buying the policy itself or on renewal. Let’s check how you can buy the policy online.

  • Go to the official website of National Insurance.
  • Navigate to ‘products’ and then on to ‘motor’.
  • Click on ‘get quote or buy policy’.
  • Go to ‘private car’.
  • Mention your vehicle information such as type of vehicle, RTO location, make and model, etc.
  • Mention your personal details and choose the type of car insurance you want to buy.
  • Click on ‘quick quote’.
  • Basis the details submitted, you will get different policy quotes from National Insurance.
  • You may get the quote of a policy with zero add-on cover too.
  • Give your confirmation to the same.

Given below the steps to be followed in order to buy a National zero dep car cover at the company’s branch:

  • Go to the nearest branch office.
  • Collect a proposal form for buying National zero dep car insurance cover.
  • Fill in the form accurately and correctly to your knowledge.
  • Submit the form to the office either through an authorized agent or directly.
  • The agent service of National Insurance can be availed by contacting the concerned office of the same through its helpline number or email.
  • The National Insurance office will appoint a surveyor to assess the risks.
  • Premium prices of National zero depreciation car insurance will be offered to you through the insurer's computerized offices.
  • The policy will be issued to you either directly on your email id or through a registered post.

National Zero Depreciation Cover Review

National zero depreciation car insurance cover seems impressive given the financial immunity it provides to you at the time of claim. Getting yourself safe against faster rates of depreciation helps you bag an impressive claim amount from the insurance company, albeit with some compulsory and voluntary deductibles. 

National Zero Depreciation Car Insurance FAQs

  • 1. I have a National zero depreciation add-on cover along with its comprehensive Cover. Will it cover electrical/mechanical breakdowns in my car?

    No, the zero depreciation add-on cover of National Insurance does not cover electrical/mechanical breakdown. 

  • 2. How much money can I save with National zero depreciation car insurance add-on cover?

    How much money can I save with National zero depreciation car insurance add-on cover?

  • 3. Does a zero depreciation National car insurance add-on cover the CNG kit?

    No, National zero dep car insurance does not cover any depreciation to the bi-fuel kit.

  • 4. Can I buy a zero depreciation cover for a second-hand car?

    You can buy a zero depreciation add-on cover for your second-hand car if it is not older than 5 years.

  • 5. In case my car is stolen, am I eligible to avail of National zero dep car insurance benefits?

    No, National zero depreciation car insurance offers no coverage against stolen vehicles.

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