Hdfc Ergo Zero Depreciation Add-on

Referred to as bumper-to-bumper or nil insurance also, zero depreciation is an add-on coverage in car insurance that can be availed in a standalone own damage or comprehensive car insurance. Generally, if you don’t have a zero dep add-on, your insurer will only pay you a certain amount after removing the depreciation value of your car. Zero depreciation add-on helps you to get the complete value of your car or repaired/replaced parts without cutting any depreciation value. With zero depreciation add-on, you receive your entire amount since there are no such deductions that take place.

What is Zero Depreciation Car Insurance?

During claim settlement, if you have a zero depreciation add-on, the insurer will give you the 100% value back. In case this add-on is not availed, you get the amount of claim back after depreciating the value of your car. Since the depreciation rate depends on various factors like age of car, make, model and variant, insured declared value (IDV) etc, this zero dep add-on safeguards your vehicle and becomes financially beneficial for you.

Here’s an example of what happens if you do not have a zero depreciation add-on and when you do:

Suppose there are two people with the same car model, variant, age and price. Both have raised a car damage claim worth Rs. 10,000. However, one has a zero depreciation add-on while the other does not. Here’s what will happen in both scenarios:

Additionally, here’s the depreciation rate based on the age of car as per IRDAI:

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

Benefits of Purchasing HDFC ERGO Zero Depreciation Car Insurance

Listed below are the benefits of purchasing HDFC Ergo’s zero depreciation car add-on coverage:

• Get higher claim payout: While you will pay an extra premium amount for getting a zero depreciation add-on with your standalone or comprehensive car insurance, you will also get the benefit when settling your claims. This means you will get a higher payout during your claim process for replacements of any parts.

• Save more money: Having a zero depreciation add-on will help safeguard you from any additional cost from your pocket when you make a claim. When you do not have this add-on, the additional cost has to be borne by you.

• Protection from loss of expense: A zero depreciation car insurance add-on helps in getting an increased claim settlement amount as compared to one where you don’t have this add-on. When you don’t have this add-on you end up paying a huge amount from your pocket for the damage or repair of your car. [1]

How To Buy HDFC Ergo Zero Dep Car Insurance with InsuranceDekho?

Follow the steps mentioned below to buy HDFC Ergo Zero Depreciation car insurance from InsuranceDekho:

• Step 1: Visit InsuranceDekho’s Website: Go to www.insurancedekho.com to begin your journey. Click on the tab “car insurance” and go to the car insurance main page.
• Step 2: Provide Vehicle Information: On the home page, you will see a form. Fill the form with basic details and vehicle number e.g., DLXXAKXXX8 to initiate the process.
• Step 3: Select the HDFC Ergo Plan: Browse through various insurance plans available from different providers on your screen now. Opt for the comprehensive plan provided by HDFC Ergo.
• Step 4: Customise with Add-ons: Customise your HDFC Ergo plan by selecting desired add-ons - in this case - Zero Depreciation add-on. Click "continue" to proceed.
• Step 5: Take Assistance (Optional): If you have any queries or inquiries to make, use the "request a call back" option to connect with an InsuranceDekho customer executive.
• Step 6: Complete KYC Formalities: Proceed by filling your KYC details such as your Aadhar card or PAN card number, along with your mobile number.
• Step 7: Review Details & Make Payment: After carefully examining your details in the pre-filled form, proceed to make the payment. Your payment can be done by credit or debit card, net banking or UPI.

Purchase HDFC Ergo Car Insurance from insurer website

Here’s the step to buy zecro depreciation car insurance from HDFC Ergo’s website:

• Step 1: Visit Insurer Website: Visit HDFC Ergo’s website and click on car insurance tab
• Step 2: Enter vehicle number and proceed to get quote
• Step 3: Choose comprehensive insurance plan, and give details about your previous insurance plan
• Step 4: Customise your plan adding zero dep add-on to your policy
• Step 5: Review the details and proceed to make payment

Offline

Alternatively, you can take assistance from InsuranceDekho to buy your HDFC Ergo zero depreciation car insurance policy by contacting us at support@insurancedekho.com. You can also call us at +91-7551196989 to get assistance on call or to request for a physical visit.

Documents Required to Buy HDFC Zero Dep Insurance Policy

Listed below are the documents required to purchase HDFC Ergo’s zero dep insurance policy:

• Ownership Verification: Your RC or vehicle registration certificate contains details about your car including its registration number, make, model and variant details and engine number. It is also an evidence of ownership and hence is required for verification.
• Identification Verification: A government-issued ID card is required to establish your identity such as an Aadhaar card, PAN card, passport, or driver's licence.
• Residential Address Confirmation: Documents like an Aadhaar card, passport, utility bills, or voter ID card is required to verify your residential address.
• Insurance History: Keep your previous policy document handy in case you are renewing or porting your insurer and then opting for this HDFC Ergo zero dep car insurance policy.
• Payment Information: Make sure you have your payment details handy from UPI, net banking, credit or debit card details depending on what mode of payment you choose.

HDFC ERGO Zero Dep Car Insurance Claim Process

How to File a Claim (Step-by-Step Process)

Here’s the step to follow to file your claim properly with HDFC Ergo zero dep car insurance:

• Step 1: As a first step, notify your insurer about the damage to your vehicle. This will help in keeping them in loop from the moment a damage has occurred to your car. File an F.I.R with the police in case your car was in an accident.
• Step 2: Once the insurer is informed, HDFC Ergo will appoint a surveyor who will come and inspect your vehicle. They will accordingly share the evaluation with you and your insurer’s claim settlement department.
• Step 3: As a next step, transfer your car to the nearest network garage of your insurer. In case the claim is approved, you don’t have to pay any amount from your pocket. In case the claim gets rejected, you will have to bear the cost.

Documents Required

Here’s a complete list of documents required to submit for your claim settlement:

• Completed Claim Form: You are required to submit your completed claim settlement form which will hold all the information around the current state of your vehicle.
• Insurance Policy Copy: You will also be required to attach the copy of your insurance policy document for reference of the insurer.
• First Information Report (FIR): In case your car was stolen or was in an accident, you must submit a copy of F.I.R filed with the nearest police station.
• Vehicle Registration Certificate (RC): To showcase the proof of ownership and registration of your vehicle, you must provide the RC.
• Proof of Identity: A government ID card should also be attached as your identity proof..
• Repair Cost Estimate: From your network garage or dealership, obtain the repair cost estimation to share with the claims team.
• Bank Account Information: In order to get the claim money, make sure you also share your bank account details with your insurer.

Claim Assistance

Getting your claims settled can be a daunting task especially when you are not aware of what to do next. In case you need any kind of assistance with setting up your claims process, coordination with your insurer, compiling or helping you with compilation of all your documents, you can always reach out to us at InsuranceDekho. A member from our customer support team will be available to assist you throughout the process either on call 0755-1196989 or through email support@insurancedekho.com. In case your queries are still not responded to or if you have to raise a concern, you can contact our grievance redressal cell by emailing them at grievance@insurancedekho.com.

Covered, not covered under HDFC Ergo Zero Depreciation Car Insurance Policy

Listed below are all the inclusions and exclusions under HDFC Ergo zero depreciation car insurance:

Inclusions

• Full coverage for depreciable spare parts like rubber, nylon, fibreglass, plastic parts, etc
• Full claim amount as per the IDV value
• You can purchase the zero dep cover as a top-up plan

Exclusions

• The cover is not valid for cars with a purchase age of less than seven years
• The wear and tear of the car parts is not covered

HDFC Ergo offers multiple channels for customer support like email, WhatsApp number and a toll-free helpline. Details of these channels are mentioned below:

• Email: care@hdfcergo.com.
• Toll-free No.: 022 6234 6234 / 0120 6234 6234
• WhatsApp No.: 8169500500

You can also seek customer support from InsuranceDekho by calling on +91-7551196989 or writing an email to support@insurancedekho.com.