Own Damage (OD) Cover
Own Damage (OD) Cover is a type of car insurance that protects the insured vehicle against damages due to accidents, theft, fire, and natural disasters. It is different from Third-Party Insurance, which only covers damages to others.
Coverage of OD Insurance
- Accidental Damages:Covers repair costs if your car is damaged in an accident.
- Fire & Explosion:Compensation for damages due to fire, lightning, or explosions.
- Theft & Burglary:Covers financial loss if the car is stolen.
- Natural Disasters:Protection against floods, earthquakes, storms, etc.
- Man-Made Disasters:Covers damages due to riots, strikes, vandalism, and terrorism.
- Transit Damages:Protection against damages during transportation by rail, road, or water.
What is NOT Covered?
- Third-Party Liabilities (Injury or damage to others)
- Mechanical or Electrical Breakdown
- Regular Wear and Tear
- Driving Without a License or Under Influence
- Damage Outside Policy Coverage Period
Eligibility for OD Cover
- Available only for cars with an active Third-Party Insurance policy.
- Mandatory for new vehicles for the first 3 years as per Indian regulations.
- Can be purchased as a standalone policy or as part of a Comprehensive Policy.
Add-On Covers Available with OD Insurance
- Zero Depreciation Cover:Full claim amount without depreciation deduction.
- Roadside Assistance:Help in case of breakdowns or flat tires.
- Engine Protection:Covers engine damages due to waterlogging or oil leaks.
- No-Claim Bonus (NCB) Protection:Retains NCB benefits even after a claim.