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Overview
Ever heard of bumper to bumper car insurance or the term zero depreciation cover? In this page, we will explore Shriram General Insurance’s Depreciation Waiver Cover. Also referred to as Bumper to Bumper, Zero Depreciation, or Nil
Depreciation Cover, this insurance option ensures that you are protected against depreciation costs incurred during repairs or replacements. Join us as we delve into the details of this comprehensive coverage and uncover the benefits it offers.
What is Bumper to Bumper Car Insurance
Nil Depreciation or bumper to bumper car insurance, is a highly beneficial form of motor insurance. Many insurance shoppers may not know the meaning of bumper to bumper car insurance, which can complicate their decision-making when selecting insurance. In the event of an accident, theft, or damage, this insurance will cover the costs for repairs or replacements without considering the natural wear and tear that occurs over time.
Features of Bumper to Bumper Car Insurance offered by Shriram General Insurance
With Nil Depreciation/Bumper to Bumper Car Insurance coverage of Shriram General Insurance, you can claim the full cost of replacing vehicle parts. Here's a closer look at the key features that make it a popular choice
Full Coverage
Bumper to bumper car insurance is favored for offering comprehensive coverage. Choosing a zero depreciation cover means your insurance claim amount remains unchanged, regardless of your vehicle's depreciation. However, it's essential to note that your claim is limited to your vehicle's Insured Declared Value (IDV), which is an estimate of its market worth. Your payout will not exceed this IDV.
Cost-Effective
Despite potential premium increases associated with the bumper to bumper cover, it proves to be cost-effective in the long run. While the premium may be higher compared to other types of insurance, the peace of mind and financial protection it offers can far outweigh the additional expense. In the event of an accident, bumper to bumper insurance can cover the repair costs, helping you avoid hefty out-of-pocket expenses.
Shriram Car Insurance Coverages
When you choose bumper to bumper car insurance coverage, you can expect the following
- What is Covered?
- What is not Covered?
Repair and Replacement Costs
This policy covers the entire expense of repairing or replacing your car's body parts after sustaining a policy, without taking depreciation into account.
Natural Disaster
This policy covers expenses in cases of damage caused by natural disasters like floods or earthquakes.
24/7 Roadside Assistance
Shriram General Insurance provides round-the-clock assistance for emergencies, ensuring you're never stranded
Mechanical/Electrical Failures
This policy does not typically cover mechanical / Electrical breakdowns unrelated to accidents.
Regular Wear and Tear
This insurance does not cover general wear and tear over time.
Policies Excess and Deductible
This insurance excludes coverage for the deductible or policy excess, meaning you would need to pay this amount in the event of a claim.
Consequential Damages
Damage resulting from an accident, such as loss of personal belongings is not included.
How to Buy and Renew New Car Insurance Online
- Buy Shriram Bumper to Bumper Car Insurance Online
- Renew Shriram Bumper to Bumper Car Insurance Online
Getting your Nil Deprecation/bumper to bumper car insurance online with Shriram General Insurance is simple and convenient. Follow these steps
Visit Shriram General Insurance Website
Go to Shriram General Insurance's official website www.shriramgi.com to explore their policy options. Here, you can find your online bumper-to-bumper car insurance.
Enter your Car Registration Number
Fill in your car registration number on Shriram General Insurance's website.
Write your Phone Number
Enter your phone number right below the car registration number.
Click on Insure Now
Click on the Insure Now button to be redirected to the insurance selection. Find your car insurance online with bumper to bumper coverage here.
Choose your Insurance
Find out which insurance you require. Since the bumper to bumper insurance is an add-on under the name zero depreciation cover, choose that add-on to your comprehensive insurance.
Bumper to bumper car insurance renewal with Shriram General Insurance is quick. Follow these simple steps:
Visit Shriram General Insurance Website
Start by accessing the official website of Shriram General Insurance.
Click on the button that says renew your insurance
This will redirect you to a page where you will need to fill in some details for your car insurance renewal, bumper to bumper.
Fill in your Policy number
Fill in your policy number and your mobile number to find your insurance.
Verify and Pay
Review your policy details, make any necessary updates, and proceed to pay for your bumper to bumper insurance renewal.
Receive Confirmation
You'll receive confirmation of your renewed policy after payment.
Comprehensive vs. Bumper-to-Bumper
Let's compare Comprehensive and Bumper to Bumper Car Insurance
| Factors/Features | Comprehensive | Bumper to Bumper |
|---|---|---|
| Coverage of Body Parts | Subject to depreciation | Full coverage, no depreciation deduction |
| Coverage for Accidents | Yes | Yes |
| Coverage for Natural Disasters | Yes | Yes |
| Repair and Replacement Costs | Subject to depreciation | Full coverage, no depreciation deduction |
| Cost of Premiums | Lower | Slightly higher |
What Factors Affect the Premiums for Bumper to Bumper Car Insurance
Several factors influence the premiums for Bumper to Bumper Car Insurance, including:
How to File a Claim with Bumper to Bumper Car Insurance
In case of bumper damage or any other covered incident, follow these steps to file a claim
- Step 01
- Step 02
- Step 03
- Step 04
Contact your Insurer
- Inform Shriram General Insurance immediately about the damage or accident.
Claim Initiation
- Submit the necessary documents, including the claim form and proof of damage or loss.
Inspection
- An inspection will be conducted to assess the extent of the damage.
Approval and Settlement
- Once approved, the insurer will settle the claim amount as per the policy terms.
Factors to Consider When Choosing a Bumper to Bumper Car Insurance Policy
Coverage Limits
Ensure that the policy covers the specific risks that concern you.
Premium Costs
Compare premiums from different insurers and choose one that fits your budget.
Policy Duration
Decide the term of the policy based on your needs.
Claim Process
Assess the ease and efficiency of the insurer's claim settlement process.
Add-Ons
Consider additional coverages or add-ons that may enhance your protection.
Frequently Asked Questions About Standalone OD Car Insurance
Is bumper to bumper car insurance mandatory?
No, it's not mandatory, but it provides valuable coverage for your vehicle.
Can I get bumper to bumper coverage for an old car?
Yes, bumper to bumper coverage is available for both new and old cars.
What is the duration of a typical bumper to bumper car insurance policy?
Policies can range from one to five years, depending on your preference.
What are the insurances offered by Shriram General Insurance?
Shriram General Insurance offers comprehensive insurance, own damage insurance, and third-party insurance. These come with various add-ons.
Does Shriram General Insurance offer any unique benefits with their Bumper to Bumper coverage?
Shriram General Insurance provides extended warranty-like protection, flexible policy durations, and cashless claims for its Nil Depreciation Cover.
