After insurance regulator IRDAI approved riders such as ‘pay-as-you-drive’ and motor floater, several insurers have launched these products. Other, existing add-on covers include zero depreciation, engine protect and roadside assistance. These optional covers offer extra protection that your base cover does not, at an additional cost. For instance, in a standard own damage cover, in case of accidental damage to your car parts, insurers reimburse only the depreciated value of these parts and not the replaceable value (market rate for new parts). So, you have to pay the difference out of your pocket. But a zero depreciation cover will ensure that you get the full claim amount.
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