Kotak Mahindra Zero Depreciation Car Insurance Policy Details
Kotak Mahindra Zero Depreciation Car Insurance
Kotak Mahindra Care Insurance is popular for offering comprehensive insurance protection, which compensates for losses or damages. Apart from the basic coverage, the policy also offers some amazing add-on benefits that can be availed at a minimal extra premium. One such policy is Kotak Mahindra Zero Depreciation Car Insurance that one shouldn’t miss.
What’s Kotak Mahindra Zero Depreciation Car Insurance?
A regular ca insurance policy doesn’t cover depreciation which a car bounds to get over a period of time. Even a brand new car gets depreciated by 5% the moment it out from the showroom. So, while calculating the IDV, the insurance companies calculate this depreciation and pay the insurance amount after deducting it. That means, with a regular car insurance, you can’t get the full value of your vehicle. This usually includes the spare parts, rubber, nylon, plastic parts, tubes, batteries, fibre glass, car parts made of glass etc. To cover these, you will need zero depreciation cover like Kotak Mahindra Zero Depreciation car insurance, which pays you even for the depreciation.
Benefits of Kotak Mahindra Zero Depreciation Car Insurance
The policy benefits can be availed by getting the full value of the vehicle at the time of claim:
- A Kotak Mahindra Zero Depreciation Car Insurance helps in saving the expenses as the depreciation costs are considered at the time of claim settlement.
- Most of the claims related to insured parts get settled under zero depreciation, wherein no deprecation charges are laid.
- It helps in adding more value to basic car insurance coverage and makes the investment nil.
- With this add-on coverage, your mind can be at peace. This helps in saving a lot of hassle and one can get this Kotak Mahindra Zero Depreciation Car Insurance by paying an extra premium, which is very nominal.
Standard Car Insurance vs. Kotak Mahindra Zero Depreciation Car Insurance
Let’s have a look as to how the coverage of zero depreciation varies from a standard car insurance coverage:
|Basis||Zero Depreciation Cover||Standard Car Insurance|
|Consideration of value||During the settlement of the insurance claim, the depreciation is not taken into account and full compensation is offered to the insured.||The claim amount is offered after deducting the standard deprecation charges|
|Premium and benefits||The premium is a bit higher but the benefits are endless||The premium is low but benefits are limited.|
|Repairing costs||The repairing cost of plastic parts, rubber, fiber, glass, etc are borne by the Kotak Mahindra insurance company||It has to be borne by the policyholder|
The Kotak Mahindra Car Insurance comes with numerous benefits; you don’t need a second thought over buying this. Give it a chance and enjoy its features and services.