Motor insurance claims: what policyholders often get wrong
Zero-dep does not mean everything is covered
Under a standard motor policy, depreciation is applied to various parts, such as plastic, rubber, nylon, and metallic components, based on the vehicle’s age. Zero depreciation cover reduces or eliminates depreciation deductions on eligible parts after an accident. “You may have to shell out about one-fourth of repair expenses yourself if you do not have this add-on,” said Shanai Ghosh, managing director and chief executive officer, Zuno General Insurance.
