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Zero-depreciation policies have become the top choice for 95% of new car buyers, according to a study by Policybazaar. These policies, also known as b
Car Buyers: motor insurance claims included a depreciation clause to align with the principle that claimants should not financially benefit from a claim, but this often left them with out-of-pocket expenses despite the intention to cover the replacement value of old parts. Besides deduction for depreciation, the standard motor policy also had deductions for non-metal parts which is not there in zero-depreciation covers.