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In India, owning a car comes with the responsibility of securing it with appropriate insurance. Among the various types of car insurance, Zero Depreciation Car Insurance has become increasingly popular. This article explores why Zero Depreciation Car Insurance is vital for vehicle owners in India and highlights insights from SMC Insurance on this type of coverage.
Why Zero Depreciation Car Insurance is Crucial in India
Comprehensive Coverage: Standard car insurance policies account for depreciation when calculating the claim amount. Depreciation reflects the reduction in the value of vehicle parts over time, which reduces the payout you receive after a claim. Zero Depreciation Car Insurance eliminates this reduction, ensuring that you receive the full claim amount for repairs or replacements without any depreciation deduction.
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