Zero Dep Add on in Car Insurance

What is Depreciation?

Depreciation is quite simply the decrease in value of things or ‘assets’, as they get older. For example, a newer car is obviously priced higher than an older one. Similarly, there is a certain depreciation associated with all the materials like glass, plastic, metal that make up your car.

Each of the materials or parts has a different rate of depreciation. Here’s a quick video explaining how this works

What Factors Affect the Zero Depreciation Premium?

After a lot of statistical research and data crunching, your zero depreciation premium depends on 3 main factors:

• Age of the car
• The model of the car
• The location in which you are based

Who should Buy Zero Depreciation Car Insurance Cover?

Ideally, Zero depreciation car insurance cover is for people with brand new cars (or even relatively brand new would do), but specifically:

• People with luxury cars
• New drivers
• People living in accident-prone areas
• If you worry about small bumps and dents
• If you have a car with expensive spare parts

Now that you fully understand the benefits of a zero depreciation add on, why not go ahead and buy it.