Universal Sompo Zero Depreciation Add-on

Depreciation is the devaluation of a car’s market price due to wear and tear over time. It not only diminishes the market value of your car but also decreases the claim amount as the cost of depreciation of your car and its parts is borne by the you at the time of a claim settlement. However, if you opt for a zero depreciation add-on cover, the insurer becomes liable to compensate for the depreciation of replaced or modified parts.

Universal Sompo Zero Depreciation Add-on cover allows its policyholders to get higher or full claim amount without factoring in the depreciation charges applicable on the insured car and its parts.

Benefits Of Universal Sompo Zero Depreciation Insurance

Higher Claim Amounts: The zero depreciation add-on cover purchased along with the Universal Sompo comprehensive car insurance policy allows the insured policyholders to enjoy higher claim amounts. As by opting for this add-on cover policyholders get exempted from bearing the depreciation charges by shifting the liability to the insurer liable.

Availability of 2 Claims: Policyholders can file a maximum of 2 zero depreciation claims during the tenure of a comprehensive car insurance policy by opting for a nil depreciation add-on cover.

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

Universal Sompo Zero Depreciation Add-on Cover Conditions

• A maximum of 2 claims can be filed during the policy period.
• It is not applicable in cases of theft, constructive total loss, total loss of the insured vehicle.
• This cover is available only for cars aged up to 5 years..
• The cover is applicable only if the damages sustained by the vehicle are repaired at a Universal Sompo authorized garage.