Newer cars typically have higher premiums for zero depreciation insurance since the cost of replacement parts is higher and the likelihood of claims is more significant.
The brand, model, and variant of the car affect the premium. Luxury cars or models with expensive parts will have higher premiums.
Cars with higher engine capacities usually have higher insurance premiums, including zero depreciation coverage.
The area where the car is registered and driven influences the premium. Cars in metro cities or areas with higher accident rates may have higher premiums.
The IDV is the maximum sum assured provided by the insurer in case of theft or total loss. A higher IDV leads to a higher premium, including for zero depreciation coverage.
If the owner has a history of frequent claims, the premium for zero depreciation coverage may be higher.
Zero depreciation is often an add-on to a comprehensive policy, so the cost of this add-on is added to the base premium of the insurance policy.
The NCB, which is a discount for not making claims in previous years, can lower the overall premium, including the zero depreciation add-on.
Now that you understand the factors affecting your zero depreciation car insurance premium, ensure you're fully protected. Find the best policy for you today on Elephant.in.
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