Car Insurance- What is zero depreciation?

by

Addy Brown

Auto industry is flooded with options and every brand is launching new models in order to lure the customers. People face confusion as on when they plan to buy a new car due to various choices available to them within a particular segment. The trends in the auto industry keep on changing and most importantly helping auto industry to shine. If the customer faces dilemma while buying a new car, same can be said when customer needs to buy car insurance. Further, an individual can get their auto insurance quotes online as well through insurance aggregators and preferred provider website.

Car insurance premium is not independent as there are lots of factors impacting it. There are several types of policies that can be bought by an individual in order to fulfill the obligation. Comprehensive insurance policy is the type of shield which provides complete protection to the insured. It provides protection in case of damage to own vehicle, third party vehicle damage and third party property damages. This form of protection is the most expensive and extensive form of auto insurance.

If someone cannot afford this particular type of insurance and is looking for cheap auto insurance, then the option available to them is third party liability cover. This form of insurance is a narrower as car insurance premium is lower and it covers for damages to the third party vehicle only. Generally, every company provides auto insurance quote for both kinds of policies i.e. comprehensive policy as well as third party liability policy.

There are several add-on that can be bought along with primary policy namely personal accident cover, medical and health cover etc. Personal accident cover provides protection to individual in case of any accident. We can keep our

car insurance premium

in check by avoiding these coverage s if we already have separate policy for these covers. A person looking for cheap auto insurance must do proper research and evaluation by comparison of various policies.

Zero depreciation cover is also an add-on cover which can be bought along with the primary auto insurance policy. Typically, at the time of providing claims to the insured, insurance company reimburses the amount of the repairs and damages of the parts after considering them after depreciation. This automatically increases the payout of the deductibles which are chosen by the insured.

Zero depreciation policy is a feature and a cover if opted can save insured from this mental headache. It does not consider depreciation while giving out claims as they are calculated on the parts with no depreciation. The zero depreciation policy rewards the claim fully for a premium sum which is around 20 percent greater than the standard cover. Further, all fiber, plastic, rubber and metal parts are covered without applying depreciation while calculating the cover. This add-on actually increases auto insurance quote for an individual.

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auto insurance quotes

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Article Source:

ArticleRich.com