We show how one may obtain conical (Dirac) dispersions in photonic crystals, and in some cases, such conical dispersions can be used to create a metamaterial with an effective zero refractive index. We show specifically that in two-dimensional photonic crystals with C4v symmetry, we can adjust the system parameters to obtain accidental triple degeneracy at Γ point, whose band dispersion comprises two linear bands that generate conical dispersion surfaces and an additional flat band crossing the Dirac-like point. If this triply degenerate state is formed by monopole and dipole excitations, the system can be mapped to an effective medium with permittivity and permeability equal to zero simultaneously, and this system can transport wave as if the refractive index is effectively zero. However, not all the triply degenerate states can be described by monopole and dipole excitations and in those cases, the conical dispersion may not be related to an effective zero refractive index. Using multiple scattering theory, we calculate the Berry phase of the eigenmodes in the Dirac-like cone to be equal to zero for modes in the Dirac-like cone at the zone center, in contrast with the Berry phase of π for Dirac cones at the zone boundary.