Standalone Own Damage 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

When you buy a two-wheeler, you may be worried about unexpected repair and replacement costs due to accidental damages. In such situations, the Standalone Own Damage (OD) insurance protects you from such unexpected expenses. It provides financial security if your vehicle is damaged due to an accident, natural disasters, man-made calamities, fire, theft, etc. Read ahead to learn about the benefits of the Standalone Own Damage Two-wheeler Insurance Policy, how to buy OD two-wheeler insurance online, advantages, limitations, etc.

What is Own Damage Insurance for Bike?

Own Damage insurance for bikes means an insurance cover that offers financial protection if your insured two-wheeler gets damaged. For instance, if your two-wheeler gets damaged due to flooding, 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 vehicle.

Importance of Own Damage Bike Insurance

Unlike the mandatory Third-party bike insurance, buying OD insurance is optional. You can be financially protected in case your two-wheeler gets damaged by including the OD bike insurance with the Third-party Liability Policy.

Inclusions: What is Covered in Own Damage Two-wheeler Insurance?

Own Damage Insurance covers you against damages caused to your bike in the situations mentioned below.


Accidental Damage

Has an accident caused damage to your two-wheeler? Not to worry, the OD Insurance will cover the cost to repair or replace motor 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 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 damages 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.

Note: The mandatory Personal Accident (PA) Cover is not covered under the Standalone Own Damage Insurance Plan and needs to be purchased separately. The PA Cover provides financial protection in case of permanent/temporary disabilities or death caused due to an accident while riding your two-wheeler.

Exclusions: What is Not Covered in Own Damage Two-wheeler Insurance?

Here are a few circumstances when the Standalone Own Damage Insurance will not cover losses.

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.

Add-ons with Standalone Own Damage Two-wheeler Insurance

Here are the add-ons available with the Standalone Own Damage Insurance.


Personal Belongings Cover - Damage/Theft

Wearing a helmet while riding your two-wheeler is not just mandatory, but it is also vital as it protects you against head injuries. Through the add-on, protect your helmet against repair/replacement costs arising from an accident, natural disaster, riots, theft, or fire.


Zero Depreciation Cover

Your two-wheeler depreciates due to regular wear and tear with time. However, with the Bike Zero Depreciation add-on, depreciation will not be considered while paying the replacement cost of the motor parts.


Roadside Assistance Cover

A breakdown such as a flat tyre in the middle of the road can be a worrying time. However, with this add-on, ACKO’s technicians will replace or repair the flat tyre and help you from unwanted inconvenience.


Key Protect Cover

In case your two-wheeler’s key is damaged, stolen, or lost, the add-on will protect you against the cost of repair or replacement of the key. Also, receive payment towards the repair or replacement of the lockset, if needed.


Outstation Emergency Cover

In case your two-wheeler breaks down outside the 100 km radius of your residence, the add-on will pay the amount specified in the cover.


Bike Engine Protect Cover

In case your bike’s engine is damaged due to floods, leakage of coolant or lubricating oil, not using the vehicle for a long time, or in case of a hydrostatic lock, the add-on will pay for the repair or replacement of engine parts.


Consumables Cover

During your bike repair, consumables items such as nut and bolt, screw, engine oil, grease, lubricants, distilled water, and similar items except fuel will be covered under this add-on.

Benefits of Buying Own Damage Two-wheeler Insurance From ACKO

Here is why you should buy the Own Damage insurance plan from ACKO.

Affordable Insurance Plans

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

Super-fast Transactions

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

Hassle-free Claims

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

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

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

Optimize Savings

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

Standalone Own Damage Claim Procedure

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.

Why is Standalone Own Damage Two-wheeler Insurance Important?

Broader Coverage

While the Third-party Bike Insurance protects you against third-party liabilities and helps you comply with the law, it does not cover damages to your two-wheeler. That’s where the OD plan comes to your rescue.

Coverage Against Theft

The Own Damage plan helps protect you against losses incurred due to the theft of your bike or damages that are beyond repair.

Coverage Against Damages

By including the OD plan along with the Third-party Liability plan, it helps you stay protected against damages or losses to your vehicle in case of accidents, fire, floods, riots, strikes, cyclones, earthquakes, etc.

What is Standalone Own Damage Insurance Premium?


The OD plan for your two-wheeler provides financial protection against damages caused due to accidents, natural or man-made calamities, fire, theft, etc., in return for the premium you pay at a periodic interval.

Premium Amount

The premium you pay for the Own Damage insurance plan is directly related to the Insured Declared Value (IDV). The higher the IDV, the higher the premium amount and vice versa.

Calculation of IDV

IDV of your vehicle is calculated based on the formula: (Showroom price - Depreciation) + (Cost of accessories (if any) - Depreciation of accessories).

Function of Add-ons

Apart from the IDV, the add-ons you include in the basic plan determine the premium you pay. Hence, choose useful add-ons that suit your needs.

How is the Standalone Own Damage Premium Calculated?

You can calculate the Own Damage premium with ACKO’s bike insurance premium calculator without any hassles. Here are the steps.


Step 1

Download ACKO’s mobile app or visit our website.


Step 2

Enter your two-wheeler registration number and select your bike model.


Step 3

Select the year of manufacture, location, previous policy details (if available), etc.


Step 4

Select the plan, include valuable add-ons, and you get to calculate the premium.

Ways to Reduce Standalone OD Insurance Premium

Choose the Right IDV

IDV is directly related to the OD plan premium. While decreasing the IDV will reduce the premium, it will also reduce the claim amount and vice versa. Hence, it is vital to select the right IDV to balance the premium and coverage of the plan.

Select the Right Deductibles

Voluntary Deductibles are another factor that impacts the premium. If the voluntary deductibles are increased, the premium will reduce. However, during bike insurance claim settlement, your out-of-pocket expenses will increase accordingly.

Utilise No Claim Bonus (NCB)

You receive the NCB discount for not raising any claims during the policy period. And, the discount can go up to 50% in case you do not submit any claims for five consecutive years. If the NCB is higher, it is suggested not to file claims for minor damages.

Choose Useful Add-ons

Add-ons such as Zero Depreciation cover, Bike Key Protect cover, etc., increase the premium amount. Hence, it is vital to assess your needs and choose useful add-ons that extend the coverage to the OD plan.

Who Should Get a Standalone Own Damage Two-wheeler Insurance Policy?


Purchased a New Two-wheeler

If you bought a new two-wheeler recently, getting bike parts repaired or replaced can be expensive. A standalone Own Damage bike insurance policy will ensure you are financially protected in case of damages to your new bike.


New Riders

As a new rider of a two-wheeler, it is recommended that you secure yourself with a standalone Own Damage plan to cover possible liabilities.


Own an Expensive Bike

Repairing or replacing bike parts of an expensive bike can be costly. However, with the OD policy, you can be assured that it will save you money in case of damages to the bike.


Ride Frequently

As two-wheelers are a preferred mode of transportation in India, the chances of unforeseen damages due to accidents, fire, floods, riots, etc., are certainly more. However, with the OD bike insurance policy, you are protected against such losses.

Documents Required to Raise a Claim on Standalone Own Damage Two-wheeler Policy

Here are the documents required to file a claim against the Standalone Own Damage bike insurance policy.

1. First Information Report (FIR) in case of theft of the bike

2. Non-traceable certificate in case of theft of the bike

3. Photocopy of your driving license

4. Two-wheeler’s registration certificate

5. Picture of the damaged bike

6. Repair bills in case you get your bike repaired at a non-network garage

7. Any other documents as required by the claims team

Difference Between Comprehensive, Own Damage and Third-party Two-wheeler Insurance

Here are the highlights of what is covered under the Comprehensive, Own Damage, and Third-party bike insurance plans.

Factor Comprehensive Bike Insurance Own Damage Bike Insurance Third-party Bike Insurance
Injuries/death of a third-party
Damages to third-party vehicle/property
Accidental damages to your bike
Damages due to natural/man-made calamities (floods, riots, etc.)
Damages to a fire
Losses due to the theft of the bike
Total loss (damaged beyond repair)

Which One to Buy? Standalone Own Damage Insurance, Third-party Insurance or Comprehensive Insurance?

Third-party Insurance

Insuring your bike with Third-party bike insurance is mandatory to ride the bike on Indian roads. Not insuring your two-wheeler with this policy will lead to monetary fines. However, this plan does not cover damages to your bike.

Own Damage Insurance

Purchasing the OD plan for your bike provides financial protection against damages or losses to your bike and is optional. However, if you already have Third-party Insurance, adding the OD plan will strengthen the coverage for your bike comprehensively.

Comprehensive Insurance

Choosing the right vehicle insurance plan for your bike depends upon your requirement. However, Comprehensive bike insurance provides broader insurance coverage for your bike as it includes both the OD plan and mandatory Third-party Insurance.

Frequently Asked Questions

Commonly Asked Questions About Own Damage Bike Insurance

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.

ACKO General Insurance Limited

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CIN: U66000KA2016PLC138288

IRDAI Registration No: 157

Category: Non-Life Insurance

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