Reliance Zero Depreciation Car Insurance

Like all machines, your car suffers depreciation with time due to normal wear and tear, age, and obsolescence. Thus, the vehicle suffers a loss in value. For example, your new car is costlier than an old one. Moreover, materials used in the four-wheeler, such as plastic, fiberglass and glass, also lose value. Reliance zero depreciation car insurance compensates the policyholder for the depreciation usually applied during claim settlement. The add-on ensures full claim amount payment without any deduction of depreciation. As a result, you can receive the claim’s total value for replacing the parts and repairs. 

Reliance Zero Depreciation Car Insurance Cover - How Does it Work?

Under the Reliance car insurance zero depreciation add-on, you get protection against physical damages to the car without any depreciation. On the other hand, the claim amount under a standard car insurance policy reduces as the insurer applies depreciation on the parts to be repaired or replaced. Consequently, you end up paying the difference amount from your pocket. In contrast, the add-on cover fetches you the total claim amount. Therefore, it is wise to purchase the add-on for the new car and follow with subsequent renewals.  

Benefits of Reliance Car Insurance Zero Depreciation Cover 

The Reliance Car zero-dep insurance add-on cover benefits sum up in the following points -

• It curbs your losses during claim settlement as Reliance absorbs the depreciation cost.
• The lack of depreciation fetches policyholders a full claim amount.
• Finally, the add-on assures complete peace of mind when you raise a claim for damages regardless of the cause.

Depreciation Rates Applicable on a Car With And Without Zero-depreciation Add-on

What is Included Under Reliance Car Insurance Zero Depreciation Cover?

Zero-dep add-on is one of the most popular covers available to Reliance car insurance policyholders. Accordingly, you must also know the inclusions before purchasing the Reliance car zero depreciation insurance policy. The critical inclusions are:

• Damaged paintwork and components made from rubber, nylon, plastic, fiberglass, and glass.
• Total coverage for the damaged parts mentioned above.
• You can opt for the add-on cover during purchase and renewal.

What is not Included Under Reliance Car Insurance Policy with Zero Depreciation Cover?

It is equally important to know the exclusions in the Reliance zero-dep car insurance add-on cover as the inclusions for a seamless claim settlement experience. Check the following exclusions:

• The add-on does not cover the insured car’s wear and tear
• Engine damages caused due to oil leakage
• Mechanical breakdown.

Factors Affecting Reliance Car Insurance Zero Depreciation Cover 

Consider the following while opting for the Reliance zero depreciation car insurance:

• You can choose the zero depreciation add-on cover for your car if it is not more than five years old.
• A cap applies to the number of claims under the zero depreciation cover during the policy term.

How to Buy Reliance Car Insurance Zero Depreciation Cover?

Purchasing Reliance zero-dep car insurance online is easy to do. To continue, you can visit the insurer’s portal and invoke the online module feeding your car’s registration number, email address, and mobile number. Then, choose the zero-dep add-on when the system prompts you before quoting the premium. Online payment completes the process. Alternatively, you can buy the add-on through aggregators such as Paytm Insurance. 

Reliance Zero Depreciation Car Insurance Cover Review

You get access to the vast 5000+ network garages for cashless claims when you purchase the Reliance zero-dep car insurance and enjoy its benefits. Moreover, the insurer’s “Selfi” app provides many unique functions for initiating and closing claims. For example, you can perform a self-inspection of the insured car damaged in an accident. Get the video ready to start the claim process.