What is zero depreciation car insurance?

What exactly is zero depreciation insurance? I just bought a brand new Tesla and I want to get the best car insurance policy available to cover it. I stumbled across zero depreciation car insurance, but I'm not sure how it works.

Answer
“A zero depreciation car insurance policy covers the full replacement cost of parts if you need them repaired or replaced following an accident.
If you have regular collision coverage, your car insurance company may only pay for the depreciated amount of the part. That means if your transmission is damaged in an accident and needs to be replaced, they may only pay for 50% of the cost if they deem that the part had 50% depreciation on it.
Getting a zero depreciation car policy can save you tons of money, especially if you’re accident prone or if you want to have your Tesla for decades.
If you want help shopping for the best deals on depreciation insurance, try using the Jerry app. Jerry compares rates from the top providers and delivers the best deals to your phone in minutes. And the best part–shopping for insurance through Jerry is free.”
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Eric Schad
Answered on Aug 27, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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