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Bajaj Allianz Car Insurance Zero Depreciation

As car parts depreciate with age, policyholders need to pay a higher amount as claim settlement since, the insurance company factors in depreciation costs while calculating the claim amount. This explains why policyholders must opt for the “Zero Depreciation” add-on cover that ensures a comprehensive car insurance cover without deducting the depreciation from the claim amount. Instead, if you opt for a standard comprehensive cover without zero depreciation cover, your insurer will hand over the claim amount based on the “current value” of your vehicle.

However, nothing comes for free and this is true for add-on covers too. To avail the benefits of a Zero Depreciation cover, you need to pay 15-20% added premiums over and above the basic premium charges. Despite being costly, the idea of zero depreciation cover appeals to most customers owing to the peace of mind that it promises.

Benefits Offered Under Bajaj Allianz Zero Depreciation Add-On Cover

Some of the benefits of choosing a zero depreciation add-on cover along with Bajaj Allianz standalone own damage plan or comprehensive car insurance plan are listed below:

  • Complete Claim Amount Without Depreciation: When you include a zero depreciation cover alongside your basic car insurance plan then it enhances the coverage of your existing car insurance policy. With the help of this add-on cover, the chances for the policyholder to pay depreciation expenses from their own pockets decreases when registering a claim for their car insurance cover.
  • Enhanced Protection: A zero depreciation add-on cover is designed to offer added insurance coverage to your existing car insurance plan. It offers enhanced protection to the policyholder at the cost of a little additional premium over and above the premium paid towards standard car insurance plans. It offers coverage towards the depreciation part of the insured car.
  • Economical: Although a zero depreciation additional cover can increase the premium payable towards the car insurance plan, however, it is a very beneficial add-on cover as it offers enhanced coverage. It helps the policyholder in saving money while availing a claim for car insurance plan as it assists the policyholder in availing the amount of claim without including any type of depreciation cost.

Depreciation Rate Applicable on Car With And Without Zero Depreciation Add-on

Age of Car

Rate of Depreciation Without Zero Depreciation Cover

Rate of Depreciation With Zero Depreciation Cover

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%

Disclaimer: Battery / Plastic / Nylon / Rubber parts -> 50% covered; Fiberglass -> 70% covered, Wooden & Metallic parts -> Depreciated basis age of vehicle (normal)

What All is Included Under a Bajaj Allianz Car Insurance Plan With a Zero Depreciation Cover?

Following coverages are offered under a Bajaj Allianz car insurance plan with a zero depreciation add-on cover:

  • It offers compensation for the replacement or repair cost of the depreciable parts beared by the policyholder while claiming settlement.
  • This cover may even include partial damages to the tyres and battery.
  • This cover offers compensation for car’s depreciable parts like fiberglass, nylon, rubber or plastic parts of the car.

What All is Not Included Under a Bajaj Allianz Car Insurance Plan With a Zero Depreciation Cover?

Following aspects are not offered coverage under Bajaj Allianz Car Insurance Plan with a zero depreciation cover:

  • Total damage or loss of the insured vehicle is not offered coverage under a zero depreciation add-on cover.
  • Normal ageing or wear and tear of the car would not be offered coverage under a car insurance plan with zero depreciation add-on cover.
  • Own damages incurred by the insured car because of mechanical failure or fault.
  • Loss or damage of the uninsured car items like tyres, bi-fuel kit or or gas kits.

Factors Affecting Bajaj Allianz Zero Depreciation Cover

Buying comprehensive car insurance does not always make you eligible to opt for Zero Depreciation Cover too. Some factors affecting zero depreciation cover include:

  • Opt for this cover only if you are ready to pay additional premium charges.
  • If your car is less than five years old, then you can buy zero depreciation cover.
  • Damages to car’s engine, batteries or other parts can also be claimed subject to certain conditions.
  • With a basic zero depreciation cover in place, you can get only the damaged car parts repaired or replaced.

Must Read Articles before buying Bajaj Allianz Car Insurance

Bajaj Allianz Car Insurance User Reviews

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  • Fire Damage Claim

    A short circuit in my car's wiring lit a small fire which damaged the dashboard till some extent. Bajaj Allianz was my insurer and handled the claim process ideally. My car was repaired at a cashless garage and I just had to pay the pre-agreed deductibles and rest was covered with my car insurance. The quality of repair was excellent, and I didn't face any out-of-pocket expenses. InsuranceDekho's suggestion to go with Bajaj Allianz for comprehensive coverage proved beneficial to me.

    C
    By Charlie Daniels
    On: July 12, 2024
  • Got IDV in case of theft

    I had always suspected if the zero depreciation add-on was worth the extra pennies but since I had got the first car from my own money, I wanted to take full precautions and Im so thankful I did that. Couple of months ago I had a horrible car accident on the Yamuna Expressway and my car got damaged beyond repair. Thanks to the customer support of BAJAJ ALLIANZ, they helped me a lot through the process and I received the IDV with zero dep which saved me from a big financial trouble. I thank InsuranceDekho at times as their articles motivated me to get the add-ons.

    S
    By Samarth Gupta
    On: June 18, 2024
  • Smooth claim process

    I took Bajaj car insurance and I must say it has been a good decision. I took my first claim a month back and the process was really smooth and the customer support team was quick with their responses. Since I purchased it through InsuranceDekho, I got claim assistance from them which was really a big thing.

    A
    By Aaftaab Chaudhary
    On: June 13, 2024
  • Smooth Portability

    I recently switched to InsuranceDekho for my car insurance and bought Bajaj Car Insurance. I am greatly satisfied with their service. From providing excellent coverage options to help claim settlements, they have performed beyond my expectations. Good work, Team InsuranceDekho.

    A
    By Akash Singh Chauhan
    On: June 7, 2024
  • Best customer service

    I got my newly bought Maruti Baleno insured with Bajaj Allianz through InsuranceDekho in such a hassle-free and smooth process. The process was simple, and the team was helpful from start to finish.

    P
    By Priya Gupta
    On: May 29, 2024
  • Excellent Service

    I recently bought Bajaj Allianz car insurance. The Insurancedekho team was very helpful till the end of the process. Thankyou.!!

    N
    By Naman Arora
    On: March 2, 2024
  • Seamless Claims Processing

    I found that the claim for my Toyota car’s processing at InsuranceDekho's cashless garages is seamless. It minimizes paperwork and simplifies the process for the Bajaj Allianz Car Insurance Policy.

    By Sreelata Kashyap
    On: November 24, 2023
  • Zero-Dep, Zero Compromises

    With zero-dep insurance, there are zero compromises. InsuranceDekho's Bajaj Allianz Car Insurance Policy doesn't cut corners; it ensures that my MG car is fully protected without any deductions.

    A
    By Aman Kumar
    On: November 22, 2023
  • Financial Security During Clai...

    During the claim of the Bajaj Allianz Car Insurance Policy, InsuranceDekho provided financial security. It's reassuring to know that they have me and my Renault car covered.

    By Sujata Sajan
    On: November 16, 2023
  • Investing in Vehicle Safety

    I know that my choice to invest in own damage car insurance with the Bajaj Allianz Car Insurance Policy from InsuranceDekho is an investment in my Renault vehicle's safety. It offers complete protection, ensuring I can drive with confidence.

    By Aviraj Ghosh
    On: October 30, 2023

385 Bajaj Allianz Cashless Garages in India

Bajaj Allianz Zero Depreciation Cover FAQs

  • How do I know if I must opt for a regular cover or a comprehensive policy with zero depreciation cover?

    A lot depends on your willingness to take risks or preference of claim amounts on the investment made. A Zero Depreciation cover is preferred in the following cases:

    • If you have a car that is less than five years old.
    • If you drive a luxury car, the repairs of which are costly and can be done at authorised dealers only.
  • Can I get my No Claim Bonus (NCB) migrated if I am planning to change my insurer?

    Your NCB and its benefits get transferred to another insurance company sans any added costs. When you renew your policy through us, you may leave the transfer of the NCB benefits to the new insurance company to us.

  • Is service tax applicable on the premium charges that I pay on my car insurance?

    As with other purchases, service tax is applicable to insurance prices too. The insurance company charges the service tax as per the prevailing rules and regulations.

  • What is the “Certificate of Insurance” under the Motor Vehicles Act?

    The insurance company, post acceptance of the car insurance proposal submitted by its interested customers, issue a “Certificate of Insurance” to them, thereby, accepting to bear the risk associated with their cars. Policyholders must ensure that they carry this insurance document with them while driving.

  • Can one have the insurance and vehicle ownership under different names?

    One must remember that the insurance is on the car that the owner buys. This means that it is imperative that the insurance is bought in the same name as the car. This ensures hassle-free claim payment. Any discrepancy regarding the name or address of the car owner may result in the insurance company rejecting the claim out-rightly.

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