If you want to secure your car and yourself against unforeseen damage, loss or injuries, opt for a Standalone Own Damage car insurance policy by Digit that offers added protection beyond third-party liabilities. 

With Digit, you enjoy the convenience of instant online buying or renewal of OD car insurance policy and can drive with peace of mind. You can also customize your coverage with car insurance add-ons for enhanced protection. Don’t let accidents set you back—insure your car with OD plan today!

Standalone Own Damage car insurance is a type of car insurance policy that is designed to specifically cover your own car’s damages and losses. This includes damages and losses caused due to accidents and collisions, natural calamities, fires, theft or any other unforeseen incident.

It is an affordable car insurance policy that offers additional coverage than the third-party car insurance policy. Though it is optional to buy OD car insurance in India, car owners can purchase OD policy only along with a third-party liability car insurance. Additionally, a person already having third-party car insurance can also buy an OD car insurance plan to cover their own car.

Why was Own Damage Car Insurance Introduced?

Since September 2019, an Own Damage cover is no longer only a part of Comprehensive Car Insurance, but, can also be bought as a standalone policy. However, this is only applicable if you already have Third-Party Car Insurance in place.

The motive behind introducing such a plan was that though many people already had a Third-Party Policy in place, it did not cover one’s own damages and injuries, which was a major issue. So, Own Damage (OD) car insurance was introduced as a result, to provide additional protection to your own car from damage.

Let’s take an example to understand this better. 

Say, you’ve recently bought your new Toyota Etios and while you were at the showroom itself, the dealer sold you a three-years bundle third-party policy for your Toyota Etios.

Now, it’s only a year later you realize that apart from third-party liabilities, you’d like to protect your own car from damage and losses too.

In this case, instead of waiting for your renewal date to upgrade your plan, or buying Comprehensive Car Insurance, you can just get yourself a private car Standalone Own Damage policy, and that will do the job as well. Also, you can get add-ons with it to protect yourself against damage that is not covered under the Standalone OD car insurance policy. 

Standalone OD in car insurance offers several key benefits to car owners such as:

Covers Your Own Damages

OD car insurance covers the damage suffered by the insured car, implying that this cover will pay for the repair costs if your car is damaged or lost due to natural calamities, theft, fire, and accidents.

Choice of Add-ons

The OD cover for car also allows you to purchase add-ons like zero dep, engine and gearbox protect, personal accident cover, etc., to enhance your and your car’s protection.

No Claim Bonus (NCB)

With Own Damage car insurance, you can enjoy the benefits of NCB, which rewards you for your safe driving by giving you a discount on car insurance own damage premium for the previous claim-free years.

Affordable and Flexible

If you’re looking for an affordable insurance plan to protect you and your car, OD car insurance is the most suitable. It also offers you the freedom to choose a policy term that suits your needs, with options for annual or multi-year coverage.

While buying a new standalone OD policy for car online from Digit, you don’t need a load of documents or paperwork; just keep the following documents handy:

• Car Registration Certificate 

• Previous year car insurance policy, if applicable

• Any of these documents for KYC verification - PAN/Aadhar/DL/Voter id/Form 16/Passport 

If You Have Only Third-party Policy

People who have only a Third-Party Car Insurance can get a standalone Own Damage cover to protect their own car from damage and losses too.

New Car Owners

If you are a new car owner, the best decision is to protect your brand-new from damage and losses by getting your own damage insurance for car, as it will help you financially when getting car parts repaired or replaced.

New Car Drivers

If you have just learnt how to drive a car, hitting the roads can seem frightening due to lack of driving experience. However, with an OD car insurance plan you can keep yourself and your car secure in unfortunate incidents.

Luxury Car Owner

Getting your luxury car’s parts repaired or replaced in case of any damage or loss can affect your pocket heavily. This is why expensive and luxury car owners must have OD car insurance to cover their own damage.

If You Live in Accident-Prone Area

Driving in congested or bigger cities with high traffic and higher accident rates always has its own set of risks. Therefore, it is better to ensure your car’s safety first by securing it with your Own Damage car insurance.

The car insurance own damage premium is slightly higher than third-party liability plan but lower than comprehensive car insurance, and it depends on various factors.

However, here’s how to calculate the OD premium for car:

IDV X [Premium Rate (decided by insurer)] + [Add-Ons (e.g. bonus coverage)] – [Discount & benefits (no claim bonus, theft discount, etc.)]

• Increase Voluntary Deductibles - In an OD cover, there’s something known as ‘Voluntary Deductibles’, which refers to the amount of money you choose to pay during claims. Therefore, based on your feasibility you can increase the percentage of your voluntary deductible, which will directly reduce your OD premium.

• Declare Correct IDV - With Digit, you are given the option to customize your IDV yourself. Therefore, make sure your IDV is always right since this will affect both your OD premium and your claim amounts too during claim settlements.

• Don’t Forget to Transfer your NCB - If you’ve had an Own Damage or Comprehensive Car Insurance policy before, ensure you transfer your NCB to your current policy, to get your accumulated discount.