BHPian hemant.kamat <\/strong>recently shared this with other enthusiasts.<\/p>\n Hello everyone. While I believe a zero depreciation add-on is absolutely essential considering the soaring cost of vehicles & spares, is it really required when purchasing a new car? What if we omit it at the time of purchase and then include it from the 2nd year onwards? Appreciate your thoughts and insights.<\/p>\n Here’s what BHPian Roadie9 <\/strong>had to say on the matter:<\/p>\n Hello everyone. While I believe a zero depreciation add-on is absolutely essential considering the soaring cost of vehicles & spares, is it really required when purchasing a new car? What if we omit it at the time of purchase and then include it from the 2nd year onwards? Appreciate your thoughts and insights.<\/p>\n<\/blockquote>\n Here’s what BHPian Sufficient_shop <\/strong>had to say on the matter:<\/p>\n 15k on 10L vehicle sounds too high. From what I remember, it was less than 7.5k for a 20L vehicle when I got a quotation. Cross check with different insurance companies.<\/p>\n<\/blockquote>\n Here’s what BHPian ghodlur <\/strong>had to say on the matter:<\/p>\n The Zero dep add on is a mandatory add any new car buyer should include in their Insurance premium. Although its voluntary its highly recommended. No two thoughts about it.<\/p>\n 15k cost of the zero dep add on – which Insurance co is this quoting such an astronomical price. I have paid 6.5k as add on on a 18L vehicle and is dependent on the IDV for the policy year. As IDV reduced the cost of the add ons also reduce.<\/p>\n The vehicle depreciation for the first year is 5% and then for subsequent years is 10%, suggest to check the policy document where the depreciation rates are clearly mentioned. Your understanding on the depreciation rates seemed to be mismatched with the policy document.<\/p>\n<\/blockquote>\n\n
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