Everything You Need to Know About Zero Depreciation Car Insurance

If you have a car and you wish to drive the car on Indian roads, you need to have a valid insurance cover on the car. The Motor Vehicles Act, 1988 mandates that every vehicle on Indian roads should have a valid insurance cover on it.

Since car insurance is mandatory, you are required to invest in a policy for fulfilling the mandate. But don’t you want the best coverage for your beloved car?

Buying a car and maintaining it requires quite a considerable amount of money and in case of damages you face heavy expenses to get the repairs done. That is why it is always advised that your car insurance policy should have a comprehensive cover. When you invest in a comprehensive plan, the policy pays for the repair costs which are incurred if your car faces any damage and you are spared from the financial burden. But did you know that in case of repairs, the insurance company pays only the depreciated value of the car’s parts?

Depreciation is a reduction in the value of assets due to their use. In a car insurance policy, as the car is used, the parts face regular wear and tear. This wear and tear is called the depreciation. At the time of claim, the insurance company deducts the cost of depreciation from the value of the car’s parts and then pays the claim. This reduces the claim greatly and you need a comprehensive policy which prevents this claim reduction

A zero depreciation cover is one such comprehensive cover which proves very useful in case of damages suffered by your car. Let’s understand what the cover is all about –

What is zero depreciation car insurance?

A zero depreciation car insurance policy, also known as a bumper-to-bumper car insurance policy, is, in fact, a comprehensive car insurance policy with the addition of the zero depreciation add-on. Now you must be wondering what zero depreciation add-on is. Here’s what it is –

Zero depreciation add-on

A zero depreciation add-on is an additional optional coverage benefit which is available with almost all car insurance policies. You have the choice to add the cover to the basic comprehensive car insurance policy to widen its scope. The add-on benefits you when your car suffers damage and repairs are required. Since the insurance company deducts depreciation from the claim amount, you receive a reduced claim. If, however, you select the zero depreciation add-on, the effect of depreciation is nullified. The insurance company pays the entire cost of the parts replaced or repaired and the claim amount is, therefore, high.

So, if you add the zero depreciation cover to the comprehensive policy, you get a zero depreciation car insurance policy.

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Why is a zero depreciation cover beneficial?

Depreciation eats into the claim amount leaving you, the policyholder, has to bear most of the repair costs from your own pockets. A zero depreciation cover prevents this, increases the claim pay-out and, therefore, saves your money. A zero depreciation policy is, therefore, better than a normal comprehensive coverage.

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Things to remember about zero depreciation car insurance

Here are certain facts which you should remember about the zero depreciation cover before you opt for it –

  • The zero depreciation add-on is optional in nature. Only when you include the add-on in the comprehensive policy would your policy become a zero depreciation car insurance policy.
  • Additional premium is payable for selecting the zero depreciation add-on. That is why zero depreciation car insurance premiums are higher than the premiums of normal car insurance plans. However, the additional premium payable for the cover is low and affordable.
  • Zero depreciation cover is available usually for cars which are up to 5 years old. However, some insurers also offer the cover for older cars
  • You can make a maximum of two claims throughout the total coverage period under the zero depreciation cover.
  • The premium for the zero depreciation add-on varies across different insurers. That is why you should compare the premiums of different companies to choose the lowest amount.

Buying zero depreciation cover

If you are buying a new car or if your car is not very old, opt for a zero depreciation car insurance policy for a comprehensive coverage and to reduce your share of the car insurance claim. The cover can be bought either when buying a new car insurance plan or at the time of renewals.

Car insurance claims can amount to very high amounts and so you should be smart when buying your car insurance policy. Choose a zero depreciation car insurance plan and enjoy wider coverage, higher claims and lower out-of-pocket expenses.

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Know The Coverage of Your Two-Wheeler Insurance Policy

What do you do when you buy a new bike? You check its features, fuel efficiency, mileage, power, colour, price and other aspects ensuring that you select the best. Do you pay so much attention to the bike insurance policy which is also bought along with your bike?

As per the provisions of the Motor Vehicles Act, 1988, your bike should have a valid two wheeler insurance cover on it if you want to drive it around. While the requirement of two wheeler insurance is common knowledge, the coverage that is available under the plan is not so commonly known. Many bike owners are clueless about the instances which would be covered by their bike insurance policies. This lack of knowledge is largely because of the technical concepts of insurance which escapes people’s understanding. So, let’s simplify the coverage aspects of two wheeler insurance policies.

Coverage under two wheeler insurance plans depends on the type of policy that you buy. There are, essentially two types of policies, third party liability only plans and comprehensive plans. Moreover, there are also additional riders, called add-ons, which are available with comprehensive policies. Let’s, therefore, understand these policy types and the available add-ons –

What is a third party liability only policy?

A third party policy is the policy which fulfils the legal mandate of owning bike insurance. It covers third party liabilities which you face in case of accidents due to your bike.


Third party plans cover the following instances –

  • Death or physical injury caused to a third party (any individual other than yourself)
  • Damage caused to third party property

In case of either of these instances, the financial loss caused to the third party is paid by the two wheeler insurance policy. Moreover, third party plans also have a personal accident cover wherein if you suffer accidental death or permanent disablement, a lump sum benefit is paid to you.

What is a comprehensive plan?

Under a comprehensive plan, there are two coverage aspects. The policy covers the mandatory third party liability as described earlier. Moreover, it also covers the damages which your bike suffers which are not covered under third party plans.


Under comprehensive plans, therefore, coverage is allowed for third party injury, death and property damage as well as for the damages suffered by your bike due to the following instances –

  • Natural calamities like earthquakes, lightning, storm, tempest, hailstorm, floods, typhoon, hurricane, storm, tempest, inundation, cyclone, frost, landslide, rockslide, etc.
  • Man-made calamities like fire, theft, burglary, housebreaking, explosion, collision, malicious acts, self-ignition, terrorist activities, riots, strikes, accidental external means, etc.
  • Damages suffered when the bike is being transported by air, water, elevator, lift, road or rail

Furthermore, just like in a third party liability policy, personal accident cover is also available in comprehensive plans. Under the cover, accidental death or accidental permanent disablement of the owner/driver of the bike is covered.

What are add-ons?

As the name suggests, add-ons are additional coverage options which are available with comprehensive two-wheeler insurance plans. You can choose one or more add-ons by paying an additional premium for each add-on selected. Add-ons increase the scope of coverage and are, therefore, advised. Some commonly available add-ons include the following –

  • Roadside assistance which ensures 24*7 assistance by the insurance company in case your bike breaks down in the middle of the road
  • Zero depreciation wherein depreciation on the bike’s parts is ignored and a higher claim amount is paid
  • Consumables cover wherein the cost of consumables like engine oil, lubricants, nuts, bolts, etc. is covered
  • NCB protect wherein the no claim bonus is kept intact even if you make a claim
  • Personal accident cover for passenger which extends personal accident cover to the pillion rider as well
  • Medical cover wherein the hospitalisation costs are covered in case of accidental injuries

So, the basic coverage under two wheeler insurance policies can be listed under four main heads –

Two wheeler insurance policies

Understand the coverage details of each of these coverage heads when you buy or go for two wheeler insurance renewal online. An insurance policy for bike is necessary and it’s wise to know exactly what the policy promises to cover so that when you suffer an accident, you can make a claim for the coverage promised under the policy.

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Complete Guide to Choose the Best Car Insurance Policy in 2021

In India, car insurance is a mandatory requirement for all car owners, courtesy the Motor Vehicles Act passed in the year 1988. So, every proud car-owner in the country is also the owner of a car insurance policy. Though car insurance is mandatory, when it comes to buying or car insurance renewal, many car owners don’t know how to choose the best car insurance in India. The technical nature of the policy often confuses them. What about you? Do you know how to buy the best car insurance policy in India?

If you don’t, no need to worry. Here are some pointers to keep in mind when buying car insurance. These are an ultimate guide to help you choose the most suitable and the best car insurance policy in 2019 –

  • Choose the correct type of plan
    When you look for car insurance, you would find third party car insurance online as well as comprehensive plans. These are the two types of car insurance policies which are available in India. While third party plans cover only the financial liability you face in case of causing a loss to a third party, comprehensive plans also cover the damages which your car suffers. If your car is new or aged below 5 years and you use your car frequently, a comprehensive car insurance coverage would be ideal. However, if your car is old (more than 5 years old) and/or you don’t use the car so frequently, a third party coverage would be sufficient. So, assess the requirement of coverage and choose the best insurance policy for your car.
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  • Compare before you buy
    Did you know that there are dozens of car insurance policies available in the market? Being a mandatory cover, car insurance policies are offered by almost every general insurance company. As such, you have a variety of coverage options at your disposal. Every available policy has something different to offer and so, before buying or renewing your car insurance online, you should compare the available plans. Look for the most inclusive coverage features at the lowest of premiums so that you get the best car insurance in India.
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  • Choose the required add-ons
    Comprehensive car insurance plans allow optional additional coverage benefits which you can add to your policy for a wider scope of coverage. These add-on coverage features, however, come at an additional premium. So, if you are buying a comprehensive plan, choose only those add-ons which are suitable for your needs. Roadside assistance add-on and zero depreciation add-on should not be avoided. While the former provides round-the-clock assistance in case of a breakdown, the latter nullifies the effect of depreciation and increases the claim amount. These add-ons, therefore, are useful additions to your coverage. Other add-ons, however, should be opted only if required. For instance, if you live in an area which gets water-logged in monsoons, opt for engine protect add-on to get a claim for engine damage due to water-logging. So, the available add-ons should be understood clearly and then chosen as per requirement so that your coverage is the best car insurance coverage for your car.
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  • Look for maximum discounts

    Your car insurance policy allows for various types of discounts if you opt for a comprehensive cover. You can, commonly, get a discount for the following –

    • Accumulated No Claim Bonus if you are renewing the policy and there were no claims in the previous year(s). For every claim-free year you would get a bonus in the form of premium discount. The bonus starts @ 20% and goes up to 50% if no claims are made in the last five policy years
    • If you are a member of a recognised automobile association like Automobile Association of India, etc.
    • If you have installed safety devices in your car like ABS, anti-theft system, child locks, etc. which help in reducing the occurrence of claims
    • If you choose a voluntary deductible and undertake to pay a part of your claim yourself. The higher the level of voluntary deductible that you choose the higher the premium discount you can claim
    • If you buy the policy online directly from the insurance company

    Look for the maximum possible discounts when choosing the policy so that you can reduce your premium outgo and save money.
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  • Choose an optimal IDV for the policy
    IDV stands for Insured Declared Value and it represents the sum insured of your car insurance policy. If your car is stolen or if it is damaged beyond repairs, the insurance company pays the IDV as claim. The IDV is calculated by deducting the age-based depreciation from the market value of the car. When buying or renewing a car insurance policy, you should ensure that the IDV is proportionate to the car’s age. Choose a higher IDV so that the claim that you get in case of total loss or theft of the car is high. The policy which offers a high IDV would be the best car insurance policy.
  • Check the network of garages
    Car insurance policies pay a cashless claim only if the car is repaired at a garage which is tied-up with the insurance company. Cashless claims are better as they remove any financial burden on you and so you should choose an insurance company which has the widest network of garages empanelled with it. If the network would be wide, your claim would be settled easily making your policy the best car insurance policy.
    These are some of the factors which should be considered when buying or renewing car insurance online. If you follow these pointers, you would be able to get the best car insurance policy for yourself and that is what you want, isn’t it?
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8 Tips You Must Check for Authentication of Bike Insurance Policy

If you have a bike, you should also have a bike insurance policy covering it. The Motor Vehicles Act, 1988 specifies that every vehicle on Indian roads is required to have a valid insurance cover. So, just like you need a driving license to drive, a bike insurance policy is also required.

Just because the policy is mandatory, your dealer usually bundles up a policy when you buy a new bike. You can also choose and buy a bike insurance policy yourself. The online medium has made buying two wheeler insurance plans easy and quick. However, after you have bought the policy, it is necessary to ensure that the policy is authentic so that you can avail a valid coverage. Imagine making a claim under the policy and finding out that the policy is a fake!

Authentication of your online bike insurance policy can be done using the following tips –

Tip#1 – Confirm with the insurance company

After buying the policy, call the insurance company to check whether the policy is genuine or not. You would just have to provide the policy number, which is mentioned on the policy document, and the insurance company would give you your policy details if the policy is genuine.

Tip#2 – Authenticate the details of your bike in the policy document

You should check the policy details and match them with the details of your bike. The bike’s engine number, chassis number, year of registration, registration number, etc. are all mentioned on the policy document. Cross check these details to ensure that there are no typographic errors and that the policy covers your actual bike.

Tip#3 – check the policy details

The coverage details of the policy should also be checked. Check the policy document to find out the coverage start date, end date, type of coverage you have availed and the premium paid. Make sure that what you purchased is what you are getting from your bike insurance policy.

Tip#4 – research the insurance company

Before buying a bike insurance policy you should do thorough research about the insurance company from whom the policy is being bought. Find out the background of the company, its promoters and the year from which it has been operating in the insurance sector. Also check the company’s IRDA license number. All insurance companies are required to be licensed with IRDA (Insurance Regulatory and Development Authority) for selling insurance and if the company has an IRDA license, it would be genuine.

Tip#5 Pay using the payment link sent by the insurer

When you buy a bike insurance policy, the insurance company usually sends a payment link on the email address which you entered when filling up the online form. When you click the payment link, you would be directed to the company’s website wherein you can check the details of the policy and pay the premium. Use this payment link to make the premium payment as the link would help you buy the policy from the insurer’s website and also double-check the policy details.

Tip#6 – Buy from a credible source

The online marketplace has simplified the whole process of buying bike insurance plans. However, there are a lot of websites from where you can easily buy bike insurance policies. That is why when you are buying online, you should buy from reputed websites to eliminate the possibility of fake policies. Turtlemint is one such reputed website which is tied up with major insurance companies. You can find a genuine bike insurance policy at Turtlemint’s website www.turtlemint.com

Here’s How you can buy the best bike insurance policy from Turtlemint

Tip#7 – Pay online for creating a payment trail

Try and pay for your policy online using your debit card, credit card, net banking account or any other online mode. When you pay online you create a proof of payment of the premium which would help in establishing the authenticity of your purchase.

Tip#8 – Check your email for the policy e-copy

After you buy the policy online, the soft copy of the policy is sent to your registered email id. Check your email to confirm receiving the policy copy. If the policy copy is not sent, contact the insurance company and insist on the soft copy of the policy which would prove that the policy is authentic.

When buying bike insurance policies you should be careful. You should follow the above-mentioned tips to ensure that the policy which you are paying for is authentic. Only an authentic bike insurance policy would provide valid coverage and pay a claim in case of contingencies. So, always check the authentication of your policy after you have bought it.

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5 Best Health Insurance Policies

The importance of health insurance plans is increasing with every passing year. As the millennium is progressing to newer medical treatments and innovative medicines, medical inflation is also rising. In this situation health insurance plans, especially health insurance plans for family has become important. Covering every family member under the purview of health insurance is necessary because you can never know which family member might need medical assistance and if they do the medical costs would cause a financial strain for you.

When it comes to family health insurance plans, you want what’s best for your family, don’t you? But do you know how you can choose the best family health insurance plans in India?

Well, choosing the best family health insurance plan in India is simple if you know how. So, here’s a quick look into the factors which make a health insurance policy the best –

  • The coverage features of the plan

The best family health insurance plan would be the one which has all the relevant coverage benefits which are required by your family members. The plan should cover all possible medical expenses and also have optional coverage benefits which you can choose as per your requirement.

  • Low premium rates

While the plan should be comprehensive in terms of its coverage features, the associated premiums should be low and reasonable. In fact, the best family health insurance plan should be the one which does not compromise on the coverage benefits neither does it burn a hole in your pockets.

  • Attractive discounts

Discounts have a good ring to them, don’t they? Health insurance plans offer various types of premium discounts. The best policy would ideally be the one which has a range of premium discounts and the discount rates should also be high.

  • Value-added coverage benefits

Health insurance plans provide various value-added coverage benefits, besides the regular coverage features. These benefits enhance the whole health insurance experience. You might get free health check-ups, a medical second opinion for critical illnesses, free doctor’s consultations, health risk assessment facilities, access to wellness programs, etc. The plan which offers the maximum of these value-added benefits would be the best family health insurance plan in India.

By checking all the above-mentioned parameters, you can easily evaluate if a certain health insurance policy meets your needs or not. We have gone a step ahead to simplify this purchase decision for you, all you need to do is enter a few details to help us calculate the approximate premium and choosing your insurance policy will become a breeze, simply click the link below to proceed.

So, these are some parameters on which you judge and find a suitable family health insurance plan. Moreover, to make your job easier, here are some of the top family floater health plans of 2019 for you to have a look –

    1. Universal Sompo Complete Healthcare Insurance Plan

      This is a popular family health insurance plan offered by Universal Sompo. You can avail coverage under three plan variants of Basic, Essential and Privilege. Other notable features of the plan include the following –

        • Dental treatments are covered in case of accidental injuries
        • Organ donor expenses are also covered
        • Coverage for Ayurveda, Unani, Siddha or Homeopathy treatments is available
        • A daily allowance is paid if you accompany a child aged below 12 hours to the hospital
        • OPD expenses are also covered under the plan which includes diagnostic tests, dental treatments taken on an outpatient basis, cost of spectacles, lenses, hearing aids, etc.
        • A convalescence benefit of INR 10,000 is paid if you are hospitalized for more than 10 continuous days
        • Coverage for maternity related expenses and new born baby is also available
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        • Five optional coverage benefits are available including critical illness cover, personal accident, hospital cash, sublimit waiver and treatment at tiered hospitals
        • Sum insured restoration is available
        • Coverage is available if you suffer from HIV or AIDS
        • Premiums paid for the plan are allowed as a tax-free deduction under Section 80D

      You can check out other plans by Universal Sompo General Insurance Company by clicking below.

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    2. ManipalCigna TTK ProHealth Protect Plan

      ManipalCigna TTK is a leading standalone health insurance provider with a range of health plans. ProHealth Protect Plan is one such plan offering by the company with the following USPs –

        • Guaranteed cumulative bonus is allowed for up to 200% of the sum insured. The bonus increases the sum insured every year when no claim is made by the policyholder
        • Health Maintenance Benefit is awarded for continued renewals. This benefit can be used for covering OPD expenses
        • The premiums are very affordable while coverage is available for up to INR 50 lakhs
        • Domiciliary treatments are covered up to the sum insured
        • Worldwide emergency cover is available under the plan which provides coverage even outside India in an emergency
        • A free expert opinion cam be availed if you suffer from a critical illness
        • Seven optional coverage benefits are allowed like hospital daily cash benefit, deductible, waiver of deductible, voluntary copayment, waiver of mandatory co-payment and cumulative bonus booster
        • Critical illness add-on cover can also be taken under the plan
        • Premiums up to INR 25,000 paid towards the plan can be availed as a deduction under Section 80D

      Does the ManipalCigna ProHealth Protect Plan interest you? Buy the plan today and secure your future in a few easy steps here.
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    1. Religare Care Plan

      A very popular plan from Religare, Care comes in multiple variants like Elite, Elite Plus, Global and Global Plus with different coverage levels and has the following salient features –

      • Free annual health check-ups
      • Sum insured up to INR 6 crores
      • No maximum age to buy the plan
      • Sum insured restoration in all plan variants
      • Free second opinion in a critical illness
      • Alternative treatments like Ayurveda, Homeopathy, etc. are also covered
      • A host of optional coverage benefits like no claim bonus super, everyday care, unlimited automatic recharge, air ambulance cover, personal accident cover, international second opinion and global coverage to name a few.
      • Tax rebate is available on the premium paid for the policy under Section 80D

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    1. National Mediclaim PolicyNational Insurance is one of the public sector general insurance companies with a large customer base. It’s mediclaim Policy is popular among many because of the following salient features –
        • Alternative treatments are covered under the plan
        • 5% increase in the sum insured is allowed for every claim-free year up to a maximum of 50%
        • Discount @10% is allowed if the policy is purchased for the whole family
        • Premiums up to INR 25,000 can be claimed as a tax-free deduction under Section 80D

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      Are you looking to buy the National Mediclaim Policy today? Click here to purchase it now and pave the way for a secure future. You can also explore insurance policies by National Insurance Company below.


    1. Star Health Family Health Optima Insurance PlanHow can we forget Star Health’s Family Health Optima Plan? The plan provides comprehensive coverage benefits and some unique features like the following –
        • The sum insured can be restored thrice in a policy year
        • Assisted reproductive treatments are covered
        • New born baby is covered from the 16th day itself
        • Free annual health check-ups are allowed
        • All day care treatments are covered
        • Auto recharge of sum insured is allowed free of cost
        • The premium paid for the plan would qualify for a tax deduction under Section 80D up to INR 25,000

      Interested in checking out other plans by Star Health? Click below and start comparing plans by Star Health and Allied Insurance Company Limited.

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Avail medical expenses, illness treatment costs, and other benefits by purchasing a health insurance plan for yourself and your loved ones. With Turtlemint, your task of choosing the best policy becomes painless. Click below and give yourself the gift of a safe future!

These are the five top family health plans in India. Choose any of these plans or a plan as per your choice keeping in mind the earlier mentioned points but make sure to cover your entire family in a good health insurance plan in 2019.

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