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Royal Sundaram Zero Depreciation Car Insurance
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Your car, like any other commodity, depreciates in value over time. Depreciation is the term for this gradual loss of value. When you purchase a Royal Sundaram car insurance policy, the depreciation amount comes into the picture. While settling claims, Royal Sundaram will not cover the cost of depreciation, resulting in a lower claim amount. However, with Royal Sundaram zero depreciation car insurance add-on cover, you protect yourself from the liability of incurring depreciation costs and get a bigger claim amount. Getting this add-on will increase your premium though. But it’s worth adding such an add-on given the massive rate of depreciation that takes effect in cars. Let’s learn more about the benefits of Royal Sundaram zero depreciation car insurance.
Benefits of Royal Sundaram Zero Depreciation Car Insurance
Following are the benefits of Royal Sundaram zero depreciation car insurance:
- Higher Claim Amount
The zero depreciation add-on plan of Royal Sundaram protects you from depreciation costs. Royal Sundaram car insurance will, instead, bear the burden of depreciation cost. This allows you to obtain a bigger claim sum. The claim amount is substantially higher than the cost of this add-on, making the overall claim extremely cost-effective.
- Complete Protection
The zero depreciation add-on provides coverage for your automobile and all its parts at 100%, with the exception of tires, tubes, and batteries, which are covered at 50%.
Depreciation Rate Applicable on Car with and without Zero Depreciation Cover
The rate of the Royal Sundaram zero depreciation car insurance is provided in the table given below:
| Age of the Car | Rate of Depreciation without Zero Depreciation | Rate of Depreciation with Zero Depreciation |
| Under 6 months | Nil | 0% |
| 6 months to 1 year | 5% | 0% |
| 1-2 years | 10% | 0% |
| 2-3 years | 15% | 0% |
| 3-4 years | 25% | 0% |
| 4-5 years | 35% | 0% |
| 5-10 years | 40% | 0% |
| Above 10 years | 50% | 0% |
| Part of Car | Rate of Depreciation - without Zero Depreciation | Rate of Depreciation - with Zero Depreciation |
| Paint Work /Rubber/Nylon/Plastic parts | 50% | 0% |
| Fibreglass parts | 30% | 0% |
| Glass parts | Nil | 0% |
Factors Affecting Royal Sundaram Zero Depreciation Car Insurance
These are some factors that affect the Royal Sundaram zero depreciation car insurance cover.
- This coverage is not available for vehicles older than 10 years.
- It is not applicable to imported automobiles, vehicles whose production has halted, or vehicles for which components are no longer accessible.
- The price is determined by the insured car's insured declared value (IDV), age, engine displacement, and make.
- The Zero Depreciation add-on cover is available on a yearly basis, thus it must be renewed in conjunction with the comprehensive policy.
- You cannot add or remove Royal Sundaram zero depreciation car insurance add-on during the middle of the policy term.
Royal Sundaram Zero Depreciation Car Insurance Review
When it comes to policy benefits and savings, Royal Sundaram has a reputation for excellence. With the services provided by the car insurance company, you can also be assured that your car will be secured against heavy depreciation charges. When in doubt, the insurance company offers 24-hour customer assistance to respond to all your questions and concerns.
Add ons for your Car Insurance
Royal Sundaram Zero Depreciation Car Insurance FAQs
1. Is it possible to add a Royal Sundaram zero depreciation car insurance add-on cover to my existing third-party policy?
A zero depreciation cover cannot be added to a third-party car insurance policy.
2. A zero depreciation cover cannot be added to a third-party car insurance policy.
Yes, high-end car owners can purchase this Royal Sundaram zero depreciation car insurance add-on cover. Purchasing this cover will help them avoid greater expenses in the event of an accident owing to depreciation.
3. Is it possible to purchase a zero depreciation cover from Royal Sundaram for my car aged more than five years?
While most insurers don’t allow this, Royal Sundaram grants zero depreciation for cars aged up to 10 years. However, it may inspect vehicles aged beyond five years before granting the add-on cover.
4. Is fiberglass depreciation covered under Royal Sundaram zero depreciation car insurance?
Is fiberglass depreciation covered under Royal Sundaram zero depreciation car insurance?
5. Can I buy Royal Sundaram zero depreciation car insurance online?
You can apply for Royal Sundaram zero depreciation car insurance online.