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New India Zero Depreciation Car Insurance
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Have you bought a new car? Purchased car insurance? If not, then don't forget to extend your car insurance policy with a zero depreciation add-on cover. As a car's worth depreciates with time, insurers charge a higher premium for old car insurance and reduce the claim amount. But with New India zero dep four wheeler insurance, you can avoid this situation. New India Assurance Co Ltd is a Government-owned general insurance company operating in more than 20 countries.
For being a new car owner, it is advisable to go for New India zero dep car insurance policy as it offers coverage against the default devaluation applicable on the insured car and its parts, which helps you to get a higher claim in return. On this page, find more details regarding the same.
How does New India Car Insurance Zero Depreciation Cover Work?
As the name suggests, zero depreciation cover means no effect of depreciation on a car. In case your vehicle gets damaged, the car insurance claim amount you receive accounts for the factor of depreciation, the depreciation accumulated on the car with age and usage. However, with zero depreciation on New India car insurance, you receive the total value of your insured car's components while applying for a car insurance claim without any depreciation amount deductions.
Therefore, adding a New India zero dep four-wheeler insurance policy expands the coverage of your comprehensive or standalone car insurance policy and enhances the financial protection for your car.
Benefits of New India Car Insurance Zero Depreciation Add-on Cover
New India zero dep car insurance policy provides several benefits to the policyholders, including
- Active customer legal assistance for handling third party liability.
- It frees you from the tension of paying a high cost for repairing various car parts & components.
- Enhances the overall coverage.
- Hassle-free claim process.
- Easy, quick, and convenient purchase of New India zero dep car insurance online.
Depreciation Rate Applicable on Car With and Without Zero Depreciation Add-on
| Age of Car | Rate of Depreciation Without Zero Depreciation Cover | Rate of Depreciation With Zero Depreciation Cover |
| Up to 6 months | Nil | Nil |
| 6 months to 1 year | 5% | Nil |
| 1 year to 2 years | 10% | Nil |
| 2 years to 3 years | 15% | Nil |
| 3 years to 4 years | 25% | Nil |
| 4 years to 5 years | 35% | Nil |
| 5 years to 10 years | 40% | Nil |
| More than 10 years | 50% | Nil |
Paint Work Rubber/Nylon/Plastic Parts, Tyres and Tubes, Batteries and Airbags Parts | 50% | Nil |
| Fiberglass Parts | 30% | Nil |
What is Included Under a New India Car Insurance Policy with Zero Depreciation Cover?
New India zero dep car insurance policy covers the following risks:
- The zero depreciation add-on covers fiberglass, rubber parts, plastic, and nylon parts.
- The insurer will take care of 100% coverage for the damages.
- All parts repairing and replacement.
- Partial repairment expenses of some parts.
What is not Included Under a New India Car Insurance Policy with Zero Depreciation Cover?
New India zero depreciation four-wheeler insurance policy does not cover the following:
- Cars more than 5 years old
- Car Tyres
- Car engine damage due to oil leakage or water ingression
- Normal wear and tears to clutch plates or other parts
- A car traveling out of the geographical area
- Driver under the influence of intoxicants such as drugs or alcohol.
- Intentionally damaged parts
- The insured car used for commercial purposes
- Mechanical or electrical failures
- Mishaps involving illegal driving
Factors Affecting New India Car Insurance Zero Depreciation Cover
Following are the factors that are considered while availing New India zero dep car insurance policy:
- Car's age
- Car's model
- Location of the policyholder
- Policy type
How to Buy New India Car Insurance Zero Depreciation Cover?
A four-wheeler owner can buy the New India zero dep four wheeler insurance online by following the below-mentioned steps:
- Go to the official portal of New India Assurance Pvt. Ltd.
- To purchase the New India zero dep car insurance online, select 'Private Car' from the popped-up window.
- Fill out the form with required details such as make, model, city of purchase, date of purchase, existing policy declared value (if any), along with your mobile number and email ID.
- Select the policy as 'standalone or comprehensive car insurance' and click on add-ons.
- Select the add-on 'zero depreciation cover' and pay the premium amount as prescribed.
New India Car Insurance Zero Depreciation Cover Review
A little cost added, and boom! Really, carefree now of devaluation of the car with time. Purchasers are happy with the New India zero dep car insurance add-on.
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New India Zero Depreciation Car Insurance FAQs
1. Is it compulsory to buy New India zero depreciation cover?
No, it is not compulsory to buy a zero depreciation cover. However, buying it only extends your car’s protection.
2. Can I opt for only a zero depreciation add-on with my New India car insurance policy?
Though New India Assurance offers add-on covers in bundles to optimize a customer's policy coverage yet, you can request the insurer for only zero depreciation add-on cover if you require that specifically.
3. What documents are needed while lodging a claim for New India zero dep car insurance?
While filing your New India zero dep car insurance claim, the insurer will expect you to show the following documents-
- A duly filled claim form
- Receipt of the premium paid
- Registration certificate
- Copy of FIR
- Bills and repair proof
- Copy of the New India zero depreciation add-on cover
- Driving licence
4. Who should purchase a New India zero dep car insurance?
A person who has a new car, a luxury car, or a sports car must purchase New India zero depreciation cover add-on. Also, a person who lives in an accident-prone area should expand their insurance policy with this add-on cover.