Starting at only ₹6 per Day*

Starting at only ₹6 per Day*
A car's market price decreases due to normal wear and tear over time, and it is called depreciation. It also decreases the claim amount as insurance companies deduct depreciation of various car parts at a certain percentage. However, if you choose to buy a zero depreciation cover from Universal Sompo, you will be covered for the depreciation of replaced or modified parts of the car. Of course, Universal Sompo will charge an extra premium for these benefits. But given the fast depreciation rate of cars, it won’t be bad to choose Universal Sompo car insurance zero depreciation cover. To know more about it, you can read this page further.
Zero depreciation add-on cover ensures protection against all damages caused to the car without factoring in depreciation. Although a standard Universal Sompo car insurance policy covers the losses in case your car gets damaged or stolen, the amount you receive as compensation comes after the deduction of applicable depreciation.
But, Universal Sompo car insurance zero depreciation cover provides you with the total compensation amount. You can avail of a zero depreciation add-on cover for your brand new four-wheeler and also at the time of policy renewal. You have to pay a little more than a third-party cover as your premium, but it is absolutely worth it.
Age of the Car | Rate of Depreciation with Zero Depreciation Cover | Rate of Depreciation without Zero Depreciation Cover |
Below 6 months | NIL | NIL |
6 months to 1 year | 5% | |
1 to 2 yrs | 10% | |
2 to 3 yrs | 15% | |
3 to 4 yrs | 25% | |
4 to 5 yrs | 35% | |
5 to 10 yrs | 40% | |
Above 10 yrs | 50% |
Car Parts | Rate of Depreciation with Zero Depreciation cover | Rate of Depreciation without Zero Depreciation cover |
Paint work /Rubber/plastic/ nylon parts, tires and tubes, batteries and airbags parts | 0%
| 50% |
Fibre glass parts | 30% | |
Glass parts | NIL |
It does not cover engine damage due to any type of oil leakages or water ingress. Breakdowns due to mechanical issues, oil changes or consumables are also not compensated. Under this Universal Sompo car insurance zero depreciation cover, you can make claims for a limited number of times in a policy year.
This way, you can buy Universal Sompo car insurance zero depreciation cover.
It is easy to get financial assistance and coverage with the zero depreciation Universal Sompo car insurance plan. You will get great assistance from the customer care team.
Universal Sompo car insurance zero depreciation cover is high in lieu of low premiums.
One of the most convenient things is the payment procedure. Universal Sompo provides multiple payment options from which you can choose.
During the policy tenure, only 2 zero depreciation claims can be filed with Universal Sompo.
The age of the car determines the deductible amount for depreciation on wooden car parts. The depreciation rate in the first year is usually 5% and 10%, in the 2nd year. And it keeps on rising with each passing year.
No, it does not work in cases of theft, constructive loss, and total loss of the insured vehicle.
The zero depreciation cover is applicable only for cars that are not more than five years old.
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