Everything about Zero Depreciation Car Insurance Explained

A family went out for a picnic in two cars, each of which was loaded with the family members only. Both were Toyota Fortuner of 2018 and 2019 model. The latest model of Fortuner had add-ons of Consumable cover and Zero Depreciation purchased under the Comprehensive Cover. On the other hand, Fortuner 2018 was a 1-year-old car covered with Comprehensive Insurance Policy only. On the way, a biker came speeding to merge in traffic and just a few minutes both the cars banged. The owner of the car filed claims to the insurer but there was a difference between the amount of settlement. Other than the variation in the extent of damages, the settled claim amount was different due to the Zero Depreciation Cover. Let us understand Zero Depreciation Car Insurance in detail.