Own Damage Insurance

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A Detailed Guide about Own Damage Insurance a.k.a. OD Insurance

Who should get a Standalone OD Insurance?

  • If you’ve recently already bought only a Third-Party Insurance from Digit, you can now also get a standalone Own Damage cover to protect your own vehicle from damages and losses too.
  • If you’ve recently already bought a vehicle, and consequently got a Third-Party insurance from another insurer, you can then choose to buy your standalone Own Damages cover from Digit too. This will include coverage for your vehicle from accidents, natural calamities, thefts, et al while you can also opt for add-on covers to extent the scope of your coverage. 

What is covered in OD Insurance?

Damages to your vehicle in an accident

Damages to your vehicle in an accident

Covers for the damages caused to your car or bike in case of an accident or collision.

Theft of your vehicle

Theft of your vehicle

Will compensate for you in case your car or bike is unfortunately stolen.

Losses caused to your vehicle in a fire

Losses caused to your vehicle in a fire

In case there’s a fire and your car or bike is damaged due to the same. Your own damage cover will cover for it.

Damages to your vehicle due to a natural calamity

Damages to your vehicle due to a natural calamity

No one can stop nature’s many furies but in case your car or bike is damaged due to it, we will be your one-stop for damage control.

What’s not covered?

While an Own Damage cover is great for your vehicle’s protection, here are few exceptions.

Third-Party Liabilities

This is a standalone Own Damage Insurance policy. Therefore, your third-party liabilities won’t be included in this. Your third-party vehicle insurance will instead take care of the same.

Driving Drunk

This goes against the law, therefore claims won’t be covered if you were driving under the influence of alcohol. 

Driving without a Licence

As a standard rule, no insurance can accept claims if the said person is driving illegally. Therefore, claims can only be made if you were rightly driving with a valid driver’s licence.

Add-Ons Not Bought

This is pretty obvious, isn’t it? If you haven't bought specific add-ons, you won’t be able to benefit from them. For example, without opting for a tyre protect cover- your tyre will only be protected during accidents and not beyond that. 

Consequential Damages

Consequential damages refer to damages that take place after an accident. Unfortunately, those won’t be covered unless the damage has happened during the accident itself.

Contributory Negligence

In simple terms, this means your vehicle won’t be covered if you’ve done something you weren’t supposed to do. For example; if your city was already flooded and you still took your car or bike out in the floods.

Driving without a Licence Holder

As per the law, if you only have a learner’s licence, you need to have someone with a permanent driver’s licence with you. If that’s not the case, your vehicle won’t be covered.

Add-ons available with Own Damage Insurance

What is Own Damage Premium?

Difference between the Third-Party Premium and Own Damage Premium

We know that as per the Motor Vehicle Act, 1988 in India we can have two kinds of policies. One can be a comprehensive policy with Own Damage and Liability Cover, and the other can be a standalone Third-Party Liability Policy. Over the years, the liability claims have risen resulting in the increase of the Third-Party premium.

Third-Party Premium

Own Damage Premium

Basis of Calculation

It is fixed by the Insurance Regulator depending on the Cubic Capacity of the vehicle.

Own Damage Premium on the other hand is computed based on the IDV, year of purchase, location and type of the vehicle.


The Third-Party premium can be increased and decreased by the regulator IRDAI.

The Own Damage premium will decrease as the value of the vehicle will depreciate over the years.

Share in Motor Premium

Always would be a share as fixed in the Motor Policy, be it comprehensive or standalone.

It may or may not form share in the Motor Policy premium.

It is our consciousness that always alerts us to take precautionary measures. Everything does not fall in our control when we are driving on the road. Hence, it is better to be wise and choose a comprehensive motor policy to prevent financial burdens at the time of a significant crunch.

What should I get?

FAQs about Own Damage Insurance in India