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Kotak Zero Depreciation Add-on

Like every other asset, your car loses its value with an increase in its age owing to general wear and tear. This devaluation is called depreciation. It does not only reduces the market value of your vehicle but also affects your claim amount. This is because your insurer factors in the depreciation cost of the parts replaced at the time of repair of the vehicle. However, you can do away with this liability of depreciation cost by purchasing a zero depreciation add-on cover from Kotak General Insurance.

Benefits of Kotak Zero Depreciation Add-on

Here are some benefits of buying a zero depreciation car insurance add-on cover:

  • Higher Claim Amount: By exempting you from bearing the liability of depreciation cost, the zero depreciation add-on cover offered by Kotak enables you to receive higher claim amounts. By opting for the zero depreciation cover, a policyholder shifts the depreciation liability from himself to the insurer.
  • Rubber Cover: Unlike most insurance companies, Kotak General Insurance’s zero depreciation cover includes the rubber parts of your car in addition to other car parts at 100%. This means that the tyres and tubes are also covered under the zero depreciation add-on cover along with parts made up of fibreglass, glass, metal, plastic, etc. However, batteries are covered only to the extent of 50%.

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



6 months to 1 year



1-2 years



2-3 years



3-4 years



4-5 years



5-10 years



Above 10 years



Parts of Car

Rate of Depreciation Without Zero Depreciation

Rate of Depreciation With Zero Depreciation

Paint Work/Rubber/Nylon/Plastic Parts, Tires and Tubes, Batteries and Airbags Parts



Fiberglass Parts



Glass Parts



What Is Included Under a Kotak Car Insurance Policy with Zero Depreciation Cover?

Here are different aspects that will be covered under the zero depreciation cover:

  • Coverage for depreciable parts like nylon, rubber, fibreglass and plastic parts of the car.
  • In some situations, the zero depreciation also compensate damages to battery and tyres.
  • Repair or replacement cost born by the policyholder during the claim settlement is covered.

What Is Not Included Under a Kotak Car Insurance Policy with Zero Depreciation Cover?

Here are a few things that won’t be covered under the zero depreciation cover:

  • No coverage for total damage or loss sustained by the insured car.
  • No coverage for damages to the insured car due to mechanical fault or failure.
  • Damage or loss of uninsured items like gas kits, tires or bi-fuel kits is not covered.
  • Routine ageing or wear and tear of the car is not covered under a zero depreciation cover.

Factors Affecting Kotak Zero Depreciation Cover

Below are some factors which affects the zero depreciation add-on cover:

  • Modified cars are also not eligible for this add-on cover.
  • It is not available for cars whose parts are not available in the market.
  • The zero depreciation add-on cover of Kotak General is only available for cars up to 3 years of age.

Must Read Articles before buying Kotak Car Insurance

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Kotak Zero Depreciation Cover FAQs

  • I have an imported Lamborghini. Can I avail the Zero Depreciation add-on cover?

    No. Imported cars and all such vehicles whose parts are not available in the Indian market are ineligible for the Kotak General zero depreciation insurance cover.

  • I have opted for the zero depreciation cover. Will I have to pay anything now during the claim settlement?

    The zero depreciation add-on cover only spares you from paying the depreciation cost of the replaced parts. However, the liability of compulsory deductible and voluntary deductible (if opted for) rests with the policyholder.

  • What is the premium for the zero depreciation add-on cover?

    The premium of the zero depreciation add-on cover depends on the Insured Declared Value (IDV) of your vehicle. It is directly proportional to the IDV, which means higher the IDV, higher the zero depreciation premium and vice versa.

  • How can I add the Zero Depreciation add-on cover to my car insurance policy?

    You can include the Zero Depreciation cover to your plan by visiting the website of Kotak car insurance or by contacting them at toll-free number 1800-266-4545.

  • Should I renew the zero depreciation cover while renewing my Kotak car insurance plan?

    Yes, you will have to renew your zero depreciation cover every time you renew your Kotak comprehensive car insurance policy provided it fulfils the conditions of Zero Depreciation cover at the time of renewal.

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#Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.