Zero depreciation insurance for a 5-year old Maruti Alto K10

I have a query on whether it makes sense to opt for a zero dep insurance for cars older than 5 years or can I opt for a regular one itself?

BHPian bmuser recently shared this with other enthusiasts.

My current insurer under Maruti insurance (New India) is not providing a zero dep policy for my Alto K10 which is completing 5 years. I understand there are other insurers who offer zero dep policy for cars older than 5 years, I have a query on whether it makes sense to opt for a zero dep insurance for cars older than 5 years or can I opt for a regular one itself?

Also, people having more knowledge could comment on whether it would be possible to again take a zero dep policy next year with new insurer if I opt for a regular one with existing insurer this year?

Here's what GTO had to say on the matter:

Maybe not required for an Alto which has such cheap parts anyway, but I usually take zero-dep for all my cars, no matter how old they are. For my 8-year old German ride, the zero-dep component costs as much as the comprehensive insurance itself, but I'd rather not worry about the expensive part costs. So it's a no-brainer for me and I will take it till as long as any insurance company is willing to give zero-dep coverage to my older car.

Here's what BHPian SmartCat had to say on the matter:

Decide based on answers to these questions:

1) How is your past claim history? If you have a history of taking in some damage frequently, it is quite likely that this will continue in the future too

2) How damaging will it be to your wallet if there is an accident? Do you worry about a fender bender hurting your financials?

Here's what BHPian Rajeevraj had to say on the matter:

Actually there are very few insurers who provide Zero Dep post 5 years. I had a Bajaj Allianz insurance for all of my first 5 years and they still did not give a Zero Dep for the 6th year. If you switch providers also, there are very few that do give it.

But if you are able to get it, it would definitely good to have. Having said that maybe does not make sense to go completely out of the way and pay a large premium to get it though.

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