Bumper to Bumper Car Insurance

• The zero depreciation policy allows you to easily claim the full amount in case of any damage to the car, unlike a standard policy which includes 0-40% depreciation rates

• This nil depreciation cover is ideal if you have purchased a car within the last 5 years

• Bumper to bumper insurance policy allows you to make a limited number of claims that vary based on the insurer you choose

• Any uninsurable peril (event with a high risk of occurrence) or normal wear and tear is not covered under this policy

• You must renew the insurance every year to enjoy the benefits associated with a zero depreciation policy

Benefits

With any kind of car insurance, you are privy to certain benefits. However, bumper to bumper insurance brings along a set of additional benefits that are not available with other kinds of policies. Read on to learn more about them:

• Depreciation Isn’t Considered

All car insurance policies pay out only the claim amount after setting aside a certain sum for depreciation. Here, depreciation refers to the normal wear and tear of a machine that occurs during its daily usage, and its monetary value lowers regardless of how well you maintain your car.

As a result, you are probably going to end up losing a hefty amount while applying for any kind of claim with your vehicle in case of an accident. However, bumper to bumper car insurance ensures that your insurer does not take into account the depreciation value and instead settles your claims for the car in terms of its original value.

• Maximises Insurance Coverage

Since this insurance enhances your car’s existing coverage, it significantly decreases any out-of-pocket expenses and offers extensive protection to your vehicle.

• Secures Your Finances

A bumper to bumper car insurance policy significantly influences the expenses that would be incurred as a result of the depreciation cost of the insured vehicle.

When you opt for motor insurance available on Bajaj Markets you can get access to a car insurance bumper to bumper add-on at a nominal cost. You also opt for a cashless claim settlement facility to ensure you experience a smooth car insurance claim process.

• You are claiming add-on benefits that are not included in your existing car insurance plan. Therefore, you may not receive the desired compensation during the claim settlement.

• You need to cover for certain expenses as there is a difference between the current market value of new car parts and the depreciated value of these components. The insurer covers the remaining amount.

• The depreciation amount can form a significant part of your sum insured amount.

To avoid getting less or unsatisfactory compensation when claiming on your car insurance policy due to depreciation, get a zero depreciation cover on your comprehensive car insurance plan.

• Inform the insurance company immediately after the accident

• Register the claim

• Send the vehicle for damage assessment

• Ensure that the depreciation costs are not added by the insurer

• Get your vehicle repaired at the garage listed on the insurer’s network to enable direct settlement

• Sign the documentation and drive your car home