Nil Depreciation Cover relieves the customers from bearing the depreciation of 5% – 50%on various parts (metal, plastic, fiber or rubber) in the event of loss due to accident. Almost all the expenses associated with the repairs of loss would be taken care of by the company. There will be no need to pay depreciation from your savings in case of partial losses. This will be possible with New India’s Add-on cover of NIL Depreciation.

The cover is available for PC, TW and CV as follows:
(1) Private Car Package Policy – Enhancement Cover (upto 5 years of vehicle age)
(2) Two Wheeler Package Policy – Enhancement Cover (upto 5 years of vehicle age)

The cover provides protection against the Road Tax (to the extent covered) that insured may have to pay while replacing the car due to major accident to his present car. Under this cover where the claim is finalised on Total loss basis, the Road Tax to the Extent covered in the policy shall be reimbursed. The cover is available for Private Car upto 5 years of age.

This cover is available upto 3 years of age of the car, and allows the insured to be indemnified towards the difference between the IDV of the vehicle as per policy and the dealer listed selling price (Ex-Showroom price) of same make and model on the date of accident at the place of registration of the vehicle. This cover is available for cars with Invoice price uptoRs. 20 Lakhs.

The cover allows customer to be entitled to the next slab of No Claim Bonuseven after payment of an OD Claim. The cover is valid upto 2 admissible OD claims and available for Private cars upto 7 years of age.The cover will ensure saving of OD premium in range of 20%-50% at the time of renewal, except where insured takes more than 2 OD Claims during the policy period.

This cover provides protection against any consequential losses to the engine (one of the costliest part of your car) and its parts due to ingress of water due to any reason, thus indemnifying losses to Engine of your car on water logged roads in monsoon. The cover is available upto 5 years of age of the car.

This extension provides increased towing charges as it allows reimbursement of towing charges upto Rs.10,000in 2 admissible claims for private Car. The cover is available upto 7 years of age. This cover is over and above the normal payable towing charges of Rs. 1500, which is provided with a standard package policy.

The cover allows protection upto Rs.20,000 with a cap of 20% of sum insured (upto Rs.4000) for each individual item or actual value of lost item, whichever is less for the loss of personal belongings in an accident. Personal belongings shall mean items such as clothes and other articles of personal nature likely to be worn by the insured including jewellery, vehicle key, mobile, laptop, audio/video tapes, CDS but shall exclude money, securities, cheque, bank drafts, credit/debit cards, travel tickets, paintings, curios and items of similar nature. The cover is available upto age of 7 years of your car.