Own Damage Insurance

With OD insurance, you need not buy long-term Comprehensive car insurance to get third-party coverage and own damage coverage.

Own damage insurance provides you a financial backup if your car suffers any damage due to accidents, calamities, theft, etc.

OD insurance allows you to buy add-ons to enhance the coverage of the policy. This option is not available with the Third-Party insurance plan.

Want to eliminate depreciation costs while settling the claims? With this car insurance add-on cover, we will not deduct the depreciation amount. This means you will get a higher amount during claim settlement.

The heart of any car is its engine. And it can be painful to pay for the expenses in case of damage to your car’s engine. However, with this add-on cover, you are covered against costs due to damage to the car’s engine.

Generally, the cost to replace lubricants, engine oil, gearbox oil, nut and bolt, etc., is not covered. Fortunately, Consumables Cover safeguards you from expenses incurred on these consumables items.

This add-on cover secures you if your car gets stolen or damaged beyond repair. In such a case, it will compensate you for the amount mentioned on the car’s invoice value.

Are you worried about the expenses because your car keys got stolen, lost or damaged? A Key Replacement cover will come to your rescue in such cases and will even cover expenses to replace a lock.

Getting stuck because your car breaks down in the middle of a road can be annoying. But with Roadside Assistance cover, you get access to 24x7 emergency roadside assistance services.

Outstation Emergency Cover protects you in case of car accidents or car breakdowns outside a 100 km radius of your residence.

When you make a claim, you lose out on the NCB discount during car insurance renewal. However, this add-on cover will keep your discount intact even if you make any claims during the policy period.

We are always worried about our near and dear ones. Personal Accident Cover for Passengers protects your loved ones against unfortunate accidents leading to permanent disabilities/death.

The make and model of the car impact the premium. A high-end car will attract a higher OD premium, and a budget-friendly car can be insured at a lower premium.

The Insured Declared Value of the car is a crucial factor that determines the OD premium. Higher IDV translates to higher premiums and vice-versa.

The higher the engine capacity (cc) of the car, the higher the premium. This is because a car with a larger engine capacity poses a higher risk to the insurer.

Older cars attract a lower premium compared to new cars due to the depreciation factor. In simple words, an older car has a lower IDV, and hence the OD premium will be lower.

No Claim Bonus (NCB) is the discount offered to you for not making any claims during the previous OD policy period. This discount can reduce the OD premium.

The Own Damage insurance premium can increase if you opt for add-on covers. The more add-ons you opt for, the more the premium.