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Adding a nil depreciation cover to a car insurance policy is one way to ensure that you’ll receive the full amount for replacement parts if your car is damaged.
Nil depreciation covers add yet another facet to an already-complicated issue. Purchasing auto insurance has always been something of a pain, but with more and more options, it’s hard to tell what is available or recommended for car owners. Here’s what you need to know about nil depreciation covers if you live in Washington, DC.
The purpose of a nil depreciation cover is to cover the full value of replacement parts, whereas many policies only cover the parts’ depreciated value over time. Because a depreciation amount won’t be deducted from the replacement parts, you’ll get more complete coverage on your vehicle.
Nil depreciation coverage is an add-on to your existing auto insurance policy and is usually only available on new vehicles or vehicles no more than three years old. Policies including nil depreciation will cost a bit more than traditional policies, but they can cut down on your out-of-pocket costs if you’re in an accident.
The best way to check if Nil depreciation cover is available in your city/state is by talking to an independent agent today, Not only we can help you with your questions but also educate you with more options that are available on the policy and can help cut down rates.
Your agent will be able to ask questions about your situation and make a recommendation on a policy that will work best for you. Taking the time to do your research now could save you money and time later! Call Mid Atlantic group & we’ll get you in touch with an agent now!