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HDFC Ergo Zero Depreciation Car Insurance

An HDFC Ergo Zero Depreciation cover is a motor insurance add-on that can be purchased with an HDFC Ergo comprehensive car insurance policy. This add-on compensates for the depreciation borne by the insured car or its parts which is not covered in standard four-wheeler insurance.

Benefits of HDFC Ergo Zero Depreciation Insurance

By purchasing this add-on, policyholders can get the following benefits:

Higher Compensation: By purchasing a zero dep add-on, a policyholder can get a higher compensation without the deduction of depreciation amount at the time of claim settlement.
Affordable Premium: The premium of an HDFC Ergo nil depreciation cover is also very nominal. You can get covered for a considerable expense by paying a small premium.
Saves Unnecessary Spends: Policyholder is also saved from any out-of-pocket expense at the time of claim. Since most of the depreciation gets covered by the insurer, you are not required to pay extra for this particular loss.
Easy Claim Process: The claim process for HDFC Ergo zero depreciation insurance is also very easy and smooth.

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How to Buy HDFC Ergo Zero Depreciation Add-on Cover?

Here is how to purchase an HDFC Ergo bumper-to-bumper add-on online in some easy steps:

Visit Policybazaar.com and select “Car Insurance” from the homepage
In the given form, enter your car number and select your car’s RTO
Now select the make, model, variant and registration year of your car
From the given list of car insurance plans, select the HDFC Ergo insurance plan
Now from the Add-ons and Accessories dropdown, pick “ Zero Depreciation” cover
Once you have chosen the add-on, your premium will slightly increase
Make the premium payment online
Once the payment is complete, your HDFC Ergo car insurance policy with zero dep add-ons will be issued.

HDFC Ergo Zero Depreciation Car Insurance Claim Process

Raising an HDFC Ergo zero-dep claim is a simple process. Follow the steps mentioned below:

Inform the insurer about the damages sustained by your four-wheeler
Upon intimation, the insurer will send a surveyor for a damage assessment
Once the damages have been assessed, you will be required to submit certain documents to the surveyor
Now the insured vehicle will be sent to the network garage for repairs
Once the car has been repaired, the insurance provider will settle the claim with a cashless settlement with the network garage.
If the repairs were done anywhere either than a network garage, the insurer would reimburse you the claim amount after the repairs.

Documents Required for an HDFC Ergo Zero Depreciation Car Insurance Claim

The following documents are required to raise an HDFC Ergo nil depreciation claim:

HDFC Ergo comprehensive insurance policy papers
Copy of car's RC
Valid driving license
Motor insurance claim form
Copy of Police FIR
Bills of repair
Estimates of repair

FAQs

Q1. Can I still purchase a zero-dep add-on if my car is 5 years old?

Ans: Yes. Many insurers, including HDFC Ergo General Insurance Company, offer zero depreciation cover for a 5-year-old car.
Q2. Is zero dep cover available with third party car insurance?

Ans: No. A nil depreciation add-on is only available with a comprehensive four-wheeler insurance policy.
Q3. Who can opt for zero depreciation cover?
Ans: A nil depreciation add-on can be purchased by:
- New Car Owners
- People living in accident-prone areas
- New Drivers
- People who own a luxury car with expensive parts
Q4. Can I purchase a zero depreciation add-on in between the policy year?

Ans: A zero depreciation cover can only be purchased during the purchase of a policy or car insurance renewal. You cannot buy it between the policy year.

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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in