జీరో డిప్రిసియేషన్ కార్ ఇన్సూరెన్స్

Many car owners mistakenly believe that a comprehensive car insurance policy covers everything. A standard comprehensive policy covers damage, theft, and third-party liabilities, but it does not cover the depreciation of parts.

To understand why upgrading to car insurance nil depreciation cover is a smart financial move, let’s look at an example.

Suppose you drive a 2-year-old Sedan and you need to replace a damaged side door and front bumper. Your costs are:

1. Metal Door Cost: ₹25,000

2. Plastic Bumper Cost: ₹15,000

This brings your total bill to ₹40,000. Let’s see how your claim will differ:

Now that we understand the differences in the claim amount, let’s move on to the depreciation rates by IRDAI.

IRDAI Depreciation Rates: Why You Lose Money Without This Cover?

Many people believe that their cars are tough and, unless a severe accident damages them, they are good to go. However, the reality is often different.

To increase fuel efficiency, manufacturers use more fibre, plastic, and glass than ever before. According to the Insurance Regulatory and Development Authority of India (IRDAI), these materials carry the highest depreciation rates.

Without a zero depreciation car insurance cover add-on, you are liable to pay these percentages out of your pocket:

Depreciation on Material Type

Depreciation on the material type applies to every car, no matter its age. Here are the rates below:

Depreciation of Metal Parts According to Age

For metal parts, the older your car, the higher the depreciation rates. Here are the depreciation rates:

The key takeaway from this is that even if your car is just 6 months old and needs a bumper replacement. A zero depreciation car insurance cover protects you from this immediate loss.

When you buy car insurance, you aren't just purchasing a PDF document. You are buying a promise of support when things go wrong. At Bajaj General Insurance, we combine the legacy of trust with a 100% Indian identity, putting you first.

Here is why 14 crore+ Indian car owners trust us with their vehicles:

Wide Network Garages Across India

Did you find yourself stuck on a highway or in a new city? With Bajaj General Insurance, you are never far from help. We boast a network of over 7,200 cashless garages.

You can drive in, get your car repaired, and drive out without paying for the parts covered under your zero-dep plan. We settle the bill directly with the garage.

Motor OTS (On-The-Spot) Settlement

Do you hate waiting for surveyors? Don’t worry, we hear you. For minor claims up to ₹30,000, you don't need to wait for a physical inspection*.

Simply use the Bajaj General App to upload photos of the damage. Our AI-driven system approves the claim in as little as 20 minutes, transferring the money directly to your account.

*గమనిక: నిబంధనలు మరియు షరతులు వర్తిస్తాయి

High Claim Settlement Ratio

The claim Settlement Ratio is the number one indicator of trust. With over 24 years of service, we boast a high CSR.

It reflects our philosophy: if your claim is genuine, it gets paid. We have streamlined our processes to ensure that motor insurance claims are no longer a headache but a seamless experience.

Digital-First Experience

From checking your zero-dep car insurance price to filing a claim, everything happens on your phone. This means you don't have to work with hundreds of pieces of paperwork and run from one office to another.

Our mobile app, toll-free number and website put the power of insurance in your pocket.

While zero depreciation car insurance is rewarding, it can be costly. So naturally, a question arises: Is the extra premium worth it for you? While we recommend this add-on to every car owner, it is non-negotiable for the following drivers:

New Car Owners (0-5 Years)

Your car is your pride and joy. The depreciation curve is steepest in the first few years. A scratch on a new car can hurt your heart, but a bill for 50% of the repair cost will hurt your wallet. Buying a zero-dep car insurance will help with the financial strain.

Owners of Luxury Vehicles

Spare parts for luxury cars (Audi, BMW, Mercedes) are often imported and expensive. A single side mirror can cost ₹50,000. Paying 50% depreciation on that is a massive loss. The zero-dep car insurance price is a tiny fraction of the potential repair bills for high-end cars.

New Drivers

Let's be real: scratches and dents happen when you are learning how to drive. New drivers are statistically more likely to be involved in minor scrapes on bumpers and mirrors. Since these are plastic parts, Zero Dep ensures you don't pay a penalty for learning.

City Dwellers

In bumper-to-bumper city traffic, your car's bumpers are on the front line. Minor rear-end collisions are common. Since bumpers attract 50% depreciation, city drivers benefit the most from this cover.

Add zero depreciation as an add-on to your comprehensive coverage and see your worries vanish. Buy car insurance online from Bajaj General Insurance today!