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Zero Depreciation Insurance vs Normal Car Insurance
- Thread Starter Shail1061
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Zero Dep ofcourse. With just premium more of say 2-3K, my entire car (from end to end) gets covered. With normal insurance you need to pay some amount from your pocket and plastic items are not covered under insurance claims.
Zero Dep is best as per me. Zero Dep has nothing to do with resale value IMO.
Zero Dep is best as per me. Zero Dep has nothing to do with resale value IMO.
Zero Dep is on & above comprehensive insurance as far as I know & there is zero liability to the insured which means in case of any damage all one has to do is handover the keys/vehicle to the garage/ASC & take it back once done, absolutely zero copay not even for plastic rubber & glass parts. It is also called as bumper to bumper coverage in commercial vehicles. It is usually done for new vehicles & cost me about 2K extra above comprehensive insurance premium.
I got a direct hit check out the link below.
http://flame.org.in/KnowledgeCenter/Zerodepreciationcoverforvehicleinsurance.aspx
I got a direct hit check out the link below.
http://flame.org.in/KnowledgeCenter/Zerodepreciationcoverforvehicleinsurance.aspx
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Okie guys, First tell me what is Zero Depreciation and Normal insurance. I think I have normal one if i understand based on previous posts.
BTW, if it is normal insurance is it possible to convert into Zero Depreciation Insurance.
BTW, if it is normal insurance is it possible to convert into Zero Depreciation Insurance.
I heard it was 3. Let's wait for some other member to confirm.
every insurance company will have some of their own strategy on how old a vehicle they should offer zero dep on. IRDA just gives high level guidelines I am guessing. It also does not make sense on older vehicles as it will increase premium! check out the link in my previous post it is quite explanatory!
Just one thing I am now confused about is NCB because article vaguely talks about NCB too but is not clear about what exactly happens to NCB. In my opinion NCB is a totally different thing & should be granted as long as there is no claim in previous year & whether its zero dep or normal comprehensive!
Just one thing I am now confused about is NCB because article vaguely talks about NCB too but is not clear about what exactly happens to NCB. In my opinion NCB is a totally different thing & should be granted as long as there is no claim in previous year & whether its zero dep or normal comprehensive!
I too heard it to be only up to 3 years when I checked online after my last claim. Experts can confirm it though.
To what I heard, the owner don't have to pay anything other than the deductible which is generally 1K. It would be nice if someone having Zero Dep policy and "used it" earlier to share the experience. So that we can get a better picture as what's the Myth and Fact about it, especially with bigger claims.
After all, you never can understand about these insurances and how it turns out in reality![[lol]](https://www.theautomotiveindia.com/forums/images/smilies/Laugh.gif "Laugh [lol]")
Out of experience ![[frustration]](https://www.theautomotiveindia.com/forums/images/smilies/Frustration.gif "Frustration [frustration]")
To what I heard, the owner don't have to pay anything other than the deductible which is generally 1K. It would be nice if someone having Zero Dep policy and "used it" earlier to share the experience. So that we can get a better picture as what's the Myth and Fact about it, especially with bigger claims.
After all, you never can understand about these insurances and how it turns out in reality
Out of experience
Yes you can. even if it is different vendor.
OK there is at least three more months left before my vehicle's first year insurance gets over and I am already being chased by insurance companies.
What I am trying to figure out now is how is NCB calculated? Believe it or not when I bough this car last year I had an NCB of 50% since never made a claim since 2005.
OK anyways so I am just trying to understand what will be my NCB for next year? Anybody know how this is calculated?
What I am trying to figure out now is how is NCB calculated? Believe it or not when I bough this car last year I had an NCB of 50% since never made a claim since 2005.
OK anyways so I am just trying to understand what will be my NCB for next year? Anybody know how this is calculated?
Friends, my car is not yet 2yrs old. I renewed insurance last through my dealer M/s Mohan Motor Udyog and it was of Royal Sundaram. As far I understand it was normal insurance. The zero depreciation from its name indicates that depreciation of the car for each year is not charged. Obviously this sounds good. I request my friends to discuss the+ve and -ve sides of this type of insurance.
0 dept insurance means that you car would be covered from bumper to bumber and while claiming for any damage, value would be payable for plastics, glasswares as they are on the regular insurance.
While on zero plan you dont need to pay the depreciated value as glassware, plastics would not be fully covered under insurance in regular policy claim.
While on zero plan you dont need to pay the depreciated value as glassware, plastics would not be fully covered under insurance in regular policy claim.
