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Own Damage Cover in Two-Wheeler Insurance Policy

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Own Damage Cover In Bike Insurance

Home / Two-wheeler Insurance / Own Bike Damage Insurance: OD Insurance Cover & OD Premium for Bike

Own Damage insurance for bikes or OD bike insurance refers to an insurance cover that offers financial protection if your insured two-wheeler gets damaged. For instance, if your two-wheeler gets damaged due to accidents, calamities, vandalism, etc., the Own Damage Two-Wheeler Insurance Plan will cover you for the losses as per the terms and conditions. Such coverage is not possible under the mandatory Third-party Liability Policy, as it does not cover damages to your two-wheeler.

Why is Own Damage Cover Useful?
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Own Damage bike insurance is super useful in situations where your insured bike sustains damages due to accidents, calamities or even vehicle theft. The bike Own Damage insurance cover will provide financial backup if your two-wheeler suffers damages. This benefit is not available with the mandatory third-party insurance as it covers only third-party liabilities.

Features of Own Damage Policy in Bike Insurance
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Here are the key features of Own Damage insurance for bikes.

Coverage Under Own Damage Two Wheeler Insurance
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The following sections throw light on the two wheeler Own Damage insurance coverage benefits.

OD Inclusions

OD Exclusions

 Own Damage Inclusions
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Here are the coverage benefits of the Own Damage bike insurance.

Accidental Damage

Has an accident caused damage to your two-wheeler? Not to worry, the two wheeler Own Damage insurance will cover the cost to repair or replace bike parts damaged due to the accident.

Natural Calamities

In case your bike is damaged due to floods, earthquakes, cyclones, etc. ACKO’s OD plan will cover the damages to your bike.

Man-made Calamities

Damages caused to your bike due to man-made calamities such as riots, vandalism, terror attacks, and strikes are covered under the OD plan.

Fire & Explosion

Fire and explosion can cause damage to your vehicle resulting in financial loss. ACKO’s Standalone OD plan covers such damages.

Theft/Malicious Acts

Theft of your two-wheeler can be worrying. However, with ACKO’s Own Damage Insurance, you can depend on us as the OD plan covers such losses.

Total Loss

In case the damages to your vehicle are beyond repair, ACKO’s OD Insurance will compensate you for such losses based on the terms and conditions.

Own Damage Exclusions
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Here are the exclusions of the Own Damage insurance for bikes.

Third-Party Liabilities

The Standalone OD plan does not cover third-party liabilities such as injuries/death of the third party or damages to their property.

Riding Without a Driving Licence

Riding without a valid Driving Licence (DL) is illegal in India. ACKO’s OD Plan does not cover any damages to your vehicle during such circumstances.

Drunk Riding

Damage caused to your bike while riding the vehicle under the influence of alcohol or other intoxicating substances is not covered under the plan.

Mechanical/Electrical Breakdown

Damages caused due to mechanical or electrical failure are not covered under the OD insurance plan.

Consequential Damages

The Standalone OD insurance plan does not cover subsequent damages or losses caused due to accidents, fire, etc.

Wear & Tear

With time, your two-wheeler depreciates due to wear and tear. The Own Damage Two-wheeler insurance will not cover such losses.

Other Use

Damages caused while using the vehicle for other purposes not mentioned in the policy will not be covered.

Outside Policy’s Terms

Damages or losses to your bike that are beyond the purview of your policy’s terms and conditions are not covered under the plan.

Outside Geographical Limits

Damage or losses to your bike that are caused outside the geographical limits of the policy coverage are not covered under the OD bike insurance plan.

How to Buy Acko's Own Damage Bike Insurance Policy?
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Listed below are the steps you need to follow to buy an Own Damage Bike Insurance policy with Acko:

How is the Standalone Own Damage Premium Calculated?
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The standalone OD bike insurance premium is calculated after considering several factors such as make/model, age of the two-wheeler, geographical location, etc. You can also use Acko’s bike insurance premium calculator to get the details of the premium you need to pay towards a Standalone Own Damage bike insurance policy. 

Moreover, the Standalone Own Damage premium can also be calculated using the IDV or the Insured Declared value. The formula for calculating Standalone Own Damage Bike Insurance premiums is 

Own Damage premium = IDV X (Premium Rate) + Add-on covers – Discounts and benefits on the policy

Benefits of Buying Own Damage Two Wheeler Insurance From ACKO
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Here are the benefits of buying Own Damage insurance for bikes from ACKO.

Affordable Insurance Plans
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Since ACKO adopts a no-commission model, you get to enjoy incredibly low-premium insurance plans.

Super-fast Transactions
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With a 100% digital platform, buying/renewing your two-wheeler insurance policy is quick and hassle-free.

Hassle-free Claims
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Access your account through or the mobile app and choose “claim now” to submit your claim. ACKO’s insurance experts will do the rest for you.

Instant Claim Settlement
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Enjoy instant payment for minor damages. Login and upload the picture of the damaged two-wheeler, and ACKO may settle the claim instantly within 2 hours.

Discounts and Offers
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Get personalised offers and discounts on special festivals/occasions so that you can save money.

Optimise Savings
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With ACKO’s multi-year two-wheeler insurance plans, you get to enjoy additional savings.

How to Claim Bike Insurance for Own Damage
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Here are the steps to raise a claim against OD bike insurance on ACKO.

Step 1:

In case of any damages or losses to your two-wheeler, inform us through our website, mobile app, email, or even call us. You will be required to file the First Information Report (FIR) with the police in some cases.

Step 2:

If the damages are due to accidents, natural or man-made disasters, or fire, we will appoint a surveyor to assess the damages.

Step 3:

In case the damages are minor, ACKO will settle the claim instantly through an on-account money transfer.

What are the Documents Required for Filing an Own Damage Claim?
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Here is the list of documents you need to have to file a claim against the Own Damage bike insurance policy.

Frequently Asked Questions on Own Damage Insurance for Bike
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FAQs About Own Damage Bike Insurance


Can we claim own damage insurance?

Yes, you can claim own damage insurance for your bike. Since September 2019, the Insurance Regulatory and Development Authority of India introduced standalone own-damage policies. It offers separate coverage for financial protection against damage from fire, accidents, theft, or natural disasters.

What is OD and TP in bike insurance?

In bike insurance, OD refers to the Own Damage cover that covers your vehicle's loss and damage, while TP stands for Third-Party cover that safeguards against damage to other vehicles and properties. Comprehensive coverage combines both for complete protection against various risks.

How do I claim own damage in motor insurance?

After an accident, immediately contact your insurance company to report vehicle damage. Gather details of the responsible vehicle and share them with the insurer. Submit the necessary documents within the specified timeframe for a hassle-free own-damage claim process.

How many times can I claim own damage insurance?

You can file multiple own-damage insurance claims. However, you will lose the NCB (No Claim Bonus) discount during policy renewal if you raise a claim during the policy year. Prioritise safe driving practices to maintain a healthy claims history.

Which is mandatory OD or TP?

Third-party (TP) insurance is mandatory as per The Motor Vehicle Act, 1988. While TP is obligatory, Own Damage (OD) coverage is optional but highly recommended for comprehensive protection against damages to your own vehicle in addition to the mandated TP cover.

Can we drive vehicle without own damage insurance?

You can drive a vehicle without own damage insurance. However, driving without third-party insurance is an offence. The Motor Vehicles Act states that every motor vehicle must have third-party insurance. However, having both third-party and own damage insurance offers comprehensive protection.

What is not covered in own damage insurance?

Own damage insurance excludes drunk driving damages and consequential losses. It does not cover damages from driving under alcohol/drugs, driving without valid documents, overspeeding, etc. Understand these exclusions before buying insurance for your vehicle.

What is the difference between own damage and zero DEP?

Own damage insurance is part of Comprehensive insurance or a standalone plan covering vehicle damages. Zero Depreciation is an add-on for coverage against depreciation. While own damage is inherent, Zero Depreciation is an additional layer for extensive protection.

What are the benefits of own damage insurance?

Own Damage Insurance provides holistic coverage for your car, covering damages, theft, or loss. Crucial alongside Third-party insurance, it complements by providing own damage coverage, ensuring comprehensive protection beyond third-party liabilities.

What is the period of own damage insurance?

Own Damage Insurance typically has a tenure of one year, necessitating annual renewal to ensure continual coverage against unexpected damages. For new cars, buying a bundled Three-Year Third-Party Insurance policy is mandatory for added security.

Which two wheeler insurance is best?

Choosing the best two-wheeler insurance depends on factors like coverage, premium, and customer service. Opt for an insurance provider who provides the best coverage at a lower premium. Also, go for online insurance as it can eliminate the hassle of offline purchases.

How much does own damage insurance cover?

Own damage insurance covers the cost of vehicle damages caused by natural calamities, accidents, theft, and vandalism. Additionally, you can enhance coverage with add-ons and customise the comprehensive policy as per your needs.

Does own damage cover theft?

Yes, own damage insurance covers theft along with damages from accidents, natural calamities, riots, and fire. It provides comprehensive protection for unforeseen events, ensuring you are financially safeguarded.

What is own damage in bike insurance?

Own damage in bike insurance covers losses the insured vehicle suffers from accidents, natural calamities like earthquakes or floods, and man-made events such as theft, riots, or strikes, providing comprehensive protection for your insured vehicle.

How is own damage premium calculated?

Own damage premium is calculated using the formula: Own Damage premium = IDV x Premium Rate (set by the insurer) + Add-Ons (bonus coverage) – Discounts & benefits (like no claim bonus, theft discount). This formula determines the comprehensive coverage cost for your bike insurance.

What is mean by own damage in insurance?

Own damage in insurance covers your vehicle's damages—accidents, thefts, natural calamities, etc. It complements Third-Party Insurance, covering liabilities for damages to others. Both are essential for comprehensive protection.

How to claim bike insurance for own damage?

You can raise a claim against OD bike insurance by informing the insurer and raising a claim request. For instance, at ACKO, you can file a claim through our app or website within a few clicks.

Is own damage insurance mandatory for bikes?

Own Damage bike insurance is not mandatory for bikes. However, it’s better to buy it as it covers damages to your two-wheeler.

Can we claim insurance on bike for self damage?

You can claim insurance if your bike gets damaged, provided that you have purchased an Own Damage or Comprehensive bike insurance.

Can I buy only own damage insurance?

You can buy a standalone Own Damage bike insurance if you have already purchased the mandatory third-party insurance.

How is own damage calculated?

OD premium is calculated after considering several factors like make/model, vehicle’s age, add-ons bought, geographical location, etc.

Which is better own damage or comprehensive?

If you already have a third-party insurance plan, it’s better to buy the standalone Own Damage insurance. If you do not have a third-party plan, you can opt for the Comprehensive Plan, which covers third-party liabilities and own damage.

Is it mandatory to buy Standalone Own Damage Insurance for my two-wheeler?

No, the Standalone OD Insurance is optional; however, Third-party Two-wheeler Insurance is mandatory as per The Motor Vehicles Act, 1988.

Does Third-party bike insurance include the Own Damage component?

No, Third-party Bike Insurance does not cover damages to the insured vehicle. However, a Comprehensive Car Insurance Plan comes bundled with both Third-party insurance and Own Damage insurance component.

Can I insure my two-wheeler only with the Standalone Own Damage Insurance plan?

No, you have to insure your vehicle at least with Third-party Insurance as it is mandatory as per The Motor Vehicles Act, 1988. While the Own Damage Insurance is optional, it will ensure better coverage for your two-wheeler.

I have insured my two-wheeler with a Third-party cover. Can I buy the Own Damage insurance plan for my vehicle?

Yes, you can buy the optional OD plan. You can also switch your Third-party policy to a Comprehensive policy (includes both Third-party cover and Own Damage cover) at the time of bike insurance renewal.

My two-wheeler was completely damaged due to an accident. Will the Own Damage insurance cover my losses?

Yes, the OD plan will cover such losses when damages are beyond repair.